|
TERM |
MEANING |
| L.C.L. |
Less than Container Load. Cargo in quantity less than required for the application of a container load rate. |
| LCL/FCL |
See CFS/CY. |
| LCL/LCL |
See CFS/CFS. |
| Letter of Indemnity |
Guarantee from the shipper or consignee to indemnify carrier for costs and/or loss, if any, in order to obtain favorable action by carrier, e.g. sometimes, it is used to allow consignee to take delivery of goods without surrendering B/L which has been delayed or become lost (for straight consignment case). |
| Lien |
A legal claim upon goods for the satisfaction of some debt or duty. |
| Lift-On/Lift-Off
(LO-LO) |
A container ship onto which containers are lifted by crane. |
| Lighter |
An open or covered barge towed by a tugboat and used mainly in harbors and inland waterways. |
| Lighterage |
Refers to the carriage of goods by lighter and the charge assessed therefore. |
| Line-haul |
Transportation from one city to another as differentiated from local switching service. |
| Liner |
Vessel plying a regular trade/defined route against a published sailing schedule. |
| Liner Terms |
Freight includes the cost of loading onto and discharging from the vessel. |
| Lloyds' Registry |
An organization maintained for the surveying and classing of ships so that insurance underwriters and others may know the quality and condition of the vessels offered for insurance or employment. |
| Load Factor |
Percent of loaded containers against total capacity of vessel or allocation. |
| Locking Bar |
Device that secures container doors at top and bottom. |
| Long Ton |
2,240 pounds. (l.t., l.tn.) |
| Longshoreman |
Individual employed locally in a port to load and unload ships. |
| Loose |
Without packing. |
| Low-Bed |
A trailer or semi-trailer with no sides and with the floor of the unit close to the ground. |
