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Terms related to the charges incurred for using a vessel or container beyond an agreed period namely Demurrage and Detention—are often confused or used interchangeably. However, here is a clear explanation of the key differences between the two.

Chartering bulk cargo vessels is a vital component of maritime logistics, enabling the transportation of large volumes of bulk commodities. Veresk Shipping provides efficient and reliable services in the field of bulk cargo transportation.

Incoterms, short for International Commercial Terms, are standardized international trade terms. In general, Incoterms serve as a highly useful communication tool aimed at reducing confusion between buyers and sellers in global transactions.