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Notice Of Readiness

A Notice of Readiness (“NOR”) is a notification by the vessel that she is ready to start the charter service (upon delivery) or is ready to load or discharge cargo. Giving an NOR has two purposes: (i) to inform the charterers that the vessel is

Demurrage

General Principles (a) Freight No discussion on the subject of demurrage would be complete without a few words on the subject of freight. Freight is the return to the shipowner for undertaking the voyage requested by the voyage charterer. Freight can be contrasted with hire, which