Complex sentence: In commercial shipping, demurrage is an ancillary cost that represents liquidated damages for delays, occurs when the vessel is prevented from the loading or discharging of cargo within the stipulated laytime (see Affreightment: under Charter-parties).
Split into simpler sentences: In commercial shipping, demurrage is an ancillary cost that represents liquidated damages for delays. It occurs when the vessel is prevented from loading or discharging cargo within the stipulated laytime (see Affreightment: under Charter-parties).