Lastage

Lastage refers to a charge or fee levied for allowing goods to remain on a wharf, quay, or other loading place beyond a specified free time. It is essentially a form of storage rent applied to goods awaiting loading onto a vessel or unloading from a vessel. The purpose of lastage is to encourage the prompt removal of goods from the loading area, thereby preventing congestion and ensuring efficient port operations. The responsibility for paying lastage typically falls upon the owner or consignee of the goods. The specific amount and duration of free time before lastage is applied vary depending on port regulations and agreements. Historically, lastage could also refer to the ballast carried by a ship. However, the more common and modern usage refers to the fee for extended storage on a loading area.