We reverse the district court's calculation of damages and remand for recalculation. We also affirm the district court's decision that the doctrine of laches barred Venus' 1995 and 1996 demurrage claims, but did not bar its 1997 demurrage claim. We reverse the district court's calculation of damages, and remand this case to the district court for recalculation of damages. Honorable Frank J. Magill, U.S. Circuit Judge for the Eighth Circuit, sitting by designation. This interest rate in the tariff is relevant to our discussion of the district court's calculation of damages, infra.
Demurrages are penalties for delays in the loading and unloading of goods.