The fee or price charged for chartering a ship, aircraft, or other vessel; the cost of hiring.
From charter plus -age suffix meaning 'the cost or condition of.' Age comes from Old French -age, Latin -aticum.
Charterage was a crucial term in maritime trade—ship owners could negotiate charterage rates based on cargo demand, making it one of the earliest forms of dynamic pricing!
Complete word intelligence in one call. Free tier — 50 lookups/day.