Glossary of Shipping Terms

L&DÂ
Loss and Damage.Â

L/CÂ
Letter of creditÂ

L/TÂ
Long tons (2,240 lbs.).Â

LAGANÂ
Cargo or equipment to which an identifying marker or buoy is fastened and thrown overboard in time of danger to lighten a ship's load. Under maritime law, if the goods are later found they must be returned to the owner whose marker is attached. The owner must make a salvage payment.Â

LAID-UP TONNAGEÂ
Ships not in active service; a ship which is out of commission for fitting out, awaiting better markets, needing work for classification, etc.Â

LAKERÂ
Type of ship which trades only in the Great Lakes of North America. They usually carry grain and ore cargoes.Â

LANDBRIDGEÂ
(1) A system of through rates and service offered by a carrier for cargo shipments from a foreign port to a U.S. port, across U.S. land to another U.S. port and finally by sea to a foreign port destination. (2) Containers moving from a foreign country by vessel, transiting the United States by railroad, and then loaded aboard another vessel for delivery to a second foreign countryÂ

LASHÂ
Lighter aboard ship: A barge carrier designed to act as a shuttle between ports, taking on and discharging barges.Â

LASH SHIPSÂ
LASH stand for Lighter Aboard Ship. It is a specialized container ship carrying very large floating containers, or "lighters." The ship carries its own massive crane, which loads and discharges the containers over the stern. The lighters each have a capacity of 400 tons and are stowed in the holds and on deck. While, the ship is at sea with one set of lighters, further sets can be made ready. Loading and discharge are rapid at about 15 minutes per lighter, no port or dock facilities are needed, and the lighters can be grouped for pushing by towboats along inland waterways.Â

LASH VESSELSÂ
Barges specifically designed to load on a vessel internally and for quick vessel turnaround. The concept is to quickly float the barges to the vessel (using tugs or ships wenches), load the barges through the rear of the vessel, then sail. Upon arrival at the foreign port, the reverse happens. Barges are quickly floated away from the vessel and another set of waiting barges quickly are loaded. Usually crane-equipped, these barges handle mostly breakbulk cargo.Â

LAY DAYSÂ
The dates between which a chartered vessel is to be available in a port for loading of cargo.Â

LAY/CANÂ
Laydays/cancelingÂ

LAYTIMEÂ
Time allowed by the shipowner to the voyage charterer or bill of lading holder in which to load and/or discharge the cargo. It is expressed as a number of days or hours or as a number of tons per day.Â

LAY-UPÂ
Temporary cessation of trading of a ship by a shipowner during a period when there is a surplus of ships in relation to the level of available cargoes. This surplus, known as overtonnaging, has the effect of depressing freight rates to the extent that some shipowners no long find it economical to trade their ship, preferring to lay them up until there is a reversal in the trend.Â

LEGAL WEIGHT (LCL)Â
LESS THAN CONTAINER LOAD (1) A consignment of cargo which is inefficient to fill a shipping container. It is grouped with other consignments for the same destination in a container at a container freight station. (2) The weight of the goods plus any immediate wrappings that are sold along with the goods, e.g., the weight of a tin can as well as its contents. (See also Gross Weight)Â

LESS THAN TRUCKLOAD (LTL)Â
Rates applicable when the quantity of freight is less than the volume or truckload minimum weight.Â

LETTER OF CREDIT (L/C)Â
A document issued by a bank per instructions by a buyer of goods authorizing the seller to draw a specified sum of money under specified terms. Issued as revocable or irrevocable.Â

LETTER OF CREDIT, CONFIRMEDÂ
A letter of credit containing a guarantee on the part of both the issuing and advising banks of payment to the seller, provided the seller's documentation is in order and the terms of the letter of credit are met.Â

LIENÂ
Retention of property until outstanding dept is paidÂ

LIFEBOATÂ
A specially constructed double ended boat which can withstand heavy, rough seas.Â

LIFEBOAT DRILLÂ
The master of every vessel is bound by international law to make the officers, crew and passengers adequately acquainted with the procedures of lowering and the use of lifeboats in case of emergency.Â

LIGHT DISPLACEMENT TONNAGEÂ
The weight of a ship's hull, machinery, equipment, and spares. This is often the basis on which ships are paid for when purchased for scrapping. The difference between the loaded displacement and light displacement is the ship's deadweight.Â

LIGHTERÂ
(1) General name for a broad, flat-bottomed boat used in transporting cargo between a vessel and the shore. The distinction between a lighter and a barge is more in the manner of use than in equipment. The term "lighter" refers to a short haul, generally in connection with loading and unloading operations of vessels in harbor while the term "barge" is more often used when the cargo is being carried to its destination over a long distance. (2) An open or covered barge equipped with a crane and towed by a tugboat. Used mostly in harbors and inland waterways.Â

LIGHTER ABOARD SHIPÂ
An ocean ship which carries barges. These barges are loaded with cargo, often at a variety of locations, towed to the ocean ship, sometimes referred to as the mother ship, and lifted or, in some cases, floated on board. After the ocean crossing, the barges are off-loaded and towed to their various destinations. The ocean ship then receives a further set of barges which have been assembled in readiness. This concept was designed to eliminate the need for specialized port equipment and to avoid transshipment with its consequent extra cost.Â

LIGHTERAGEÂ
(1) Charge for conveying cargo by lighters or barges. (2) The cost of loading or unloading a vessel by means of barges alongside.Â

LIGHTERINGÂ
Conveying cargo with another vessel known as a lighter from ship to shore, or vice versa.Â

LINEHAULÂ
The management of freight between cities, usually more than 1000 miles.Â

LINERÂ
The word "liner" is derived from the term "line traffic," which denotes operation along definite routes on the basis of definite, fixed schedules. A liner thus is a vessel that engages in this kind of transportation, which usually involves the haulage of general cargo as distinct from bulk cargo.Â

LINER SERVICEÂ
Vessels operating on fixed itineraries or regular schedules and established rates available to all shippers. The freight rates which are charged are based on the shipping company's tariff or if the company is a member of a liner conference, the tariff of that conference.Â

LIQUIDATIONÂ
The finalization of a customs entry.Â

LIVESTOCKÂ
Common farm animals.Â

LKG. & BKG.Â
Leakage and Breakage.Â

LLOYD'S REGISTER OF SHIPPINGÂ
British classification society.Â

LNGÂ
Liquefied Natural Gas, or a carrier of LNG.Â

LNG CARRIERÂ
Liquefied natural gas carrier, perhaps the most sophisticated of all commercial ships. The cargo tanks are made of a special aluminum alloy and are heavily insulated to carry natural gas in its liquid state at a temperature of -2850F. The LNG ship costs about twice as much as an oil tanker of the same size.Â

LO/LO (LIFT-ON/LIFT-OFF)Â
Denotes the method by which cargo is loaded onto and discharged from an ocean vessel, which in this case is by the use of a crane.Â

LOAD FACTORÂ
Percentage of cargo or passengers carried e.g. 4000 tons carried on a vessel of 10000 capacity has a load factor of 40%Â

LOAD LINEÂ
The line on a vessel indicating the maximum depth to which that vessel can sink when loaded with cargo. Also known as marks.Â

LOADED LEGÂ
Subdivision of a ship's voyage during which the ship is carrying cargo.Â

LOCAL MOVEÂ
A railroad movement in which only one road haul carrier participates. The one carrier serves both the origin and destination stationÂ

LOGISTICS MANAGEMENTÂ
The efficient and cost-effective management of the physical movement of goods from supply points to final sale and the associated transfer and holding of such goods at various intermediate storage points.Â

LOIÂ
Letter of indemnityÂ

LONG TONÂ
2,240 pounds.Â

LONGSHOREMANÂ
Ocean carrier cargo handler that loads and unloads freight at the harbor.Â

LOOKOUTÂ
A member of the crew stationed on the forecastle, or on the bridge, whose duty it is to watch for any dangerous objects or for any other vessels heaving into sight.Â

LPGÂ
Liquefied Petroleum Gas, or a carrier of LPG.Â

LSAÂ
Liner Shipping Agreements.Â

LTÂ
Long Ton = 1016.05 kilogramÂ

LTGE.Â
Lighterage.Â

LTLÂ
(See Less than Truckload)Â

LUMPERÂ
A person hired to help unload a trailerÂ

LUMPSUM FREIGHTÂ
Money paid to shipper for charter of a ship (or portion) up to stated limit irrespective of quantity of cargoÂ

Glossary of Shipping Terms

You are here:

Glossary of Shipping Terms