What is the difference between Storage and Demurrage..??
This is another area where some confusion exists and I will explain the reason why..
In general terms, Demurrage is the charge levied by the shipping line on the consignee if the container is not cleared and returned to the nominated empty depot within the specified free days offered by the line.. The free days and charges might vary depending on the country and shipping line..
Storage is the charge levied by the port or the terminal to the shipping line as long as the container is sitting in the port (may or may not be within the specified free days offered by the port).. The shipping line in turn recovers this cost from the consignee..
It is possible that a container can incur both Demurrage and Storage on the same shipment..
However, there are some countries like Saudi Arabia and Japan, where the term demurrage seems to be used to denote storage in the port/lines terminal..
Best option would be to check with the shipping line in your country how these terms are defined..