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JAMB - Commerce (2016 - No. 24)

In the transportation industry, dead freight is used to describe the
cost paid for an empty space left in the ship
charge for each day a performance was delayed
persons that hire a ship for a specific purpose
cost of shipping a particular cargo for a specific voyage

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Dead freight is the amount paid by or recoverable from a charterer of a ship for such part of the ship's capacity as the charterer has contracted for but fails to occupy also.  it is simply payment for  the unoccupied space in chartered  ship.

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