| |
|
| L.
& D. |
Loss and damage. |
| L.C.L. |
Less than container load: less
than car load. |
| l.t.
or l.tn |
Long ton (2240 lbs) |
| L/C
- Letter of Credit |
A document issued by a bank per
instructions by a buyer of goods, authorising specified
sum of money under specified terms. Issued as revocable
or irrevocable. |
| Lagan |
Cargo or equipment to which an
identifying marker or buoy is fastened, thrown over-board
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. |
| Lash |
Lighter Aboard Ship (see Lighter). |
| Lash
Vessel |
Designed to load internally, barges
specifically designed for the vessel. The concept is
to quickly float the barges to the vessel (using tugs
or ships wenches) load these barges through the rear
of the vessel, then sails. 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. Designed for quick vessel turn-around.
Usually crane-equipped; handles mostly breakbulk cargo. |
| Lay
Days |
The dates between which a chartered
vessel is to be available in a port for loading of
cargo. |
| Legal
Weight |
The weight of the goods plus any
immediate wrappings which are sold along with the goods
e.g., the weight of a tin can as well as its contents.
(See Gross Weight). |
| Less
than Truck Load (LTL) |
Rates applicable when the quantity
of freight is less than the volume or truckload minimum
weight. |
| Letter
of Credit |
A document issued by a bank at
a buyer's request honoring debt obligations to the
seller upon receipt of the document. |
| Letter
of Credit - payment by sight draft |
The exporter receives guaranteed
payment from the confirming bank in the U.S. upon presentation
of the sight draft and documents required by the letter
of credit. |
| Lighter |
An open or covered barge equipped
with a crane and towed by a tugboat. Used mostly in
harbors and inland waterways. |
| Lighterage |
The cost of loading or unloading
a vessel by means of barges alongside. |
| Liner |
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 generally involves
the haulage of general cargo as distinct from bulk
cargo. |
| Liquidation |
The finalization of a customs entry. |
| Livestock |
Common farm animals. |
| Lkg.
& Bkg. |
Leakage and breakage. |
| Lo/Lo |
The acronym meaning "lift-on,lift-off," denoting
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. |
| Load
Factor |
Capacity sold as against capacity
available, expressed as a percentage. |
| Ltge. |
Lighterage. |
| LTL |
Less than truckload. |
