| Label |
| A slip of e.g. paper or metal attached to an object to indicate the nature, ownership,destination, contents and/or other particulars of the object. |
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| Laden Vessel |
| See Loaden Vessel |
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| Land Bridge |
| Overland transport between following and/or preceding sea transport of goods and/orcontainers. |
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| Lash |
| To hold goods in position by the use of, e.g., wires, ropes, chains and straps. |
| See Lighter Aboard Ship |
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| Lashing Point |
| Point on a means of transport to which wires, chains, ropes or straps, which are used to holdgoods in position, are attached. |
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| Last Carrier |
| The participating airline over which air routes the last section of carriage under the AirWaybill is undertaken or performed (air cargo). |
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| Last In First Out |
| Abbreviation: LIFO |
| A method of which the assumption is that the most recently received (last in) is the first to beused or sold (first out). |
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| Lateral and Front Stacking Truck |
| High-lift stacking truck capable of stacking and retrieving loads ahead and on either or bothsides of the driving direction. |
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| Latitude |
| The angular distance of a position on its meridian north or south from the equator, measuredin degrees ('a vessel at 25 degrees north latitude'). |
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| Lay Days |
| The number of days allowed in a charter party for the loading and discharging of cargo.Lay days may be indicated in different ways e.g. consecutive days, working days, weatherworking days. |
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| Lay Up a Vessel |
| Temporary cessation of trading of a vessel by the shipowner. |
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| Layout Key |
| See United Nations Layout Key |
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| Lazaretto |
| Place where goods are fumigated, or where a person under quarantine is quartered. |
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| Lead Time |
- The amount of time between the request of a service and the actual provision of thisservice.
- A span of time required to perform an activity. In a logistics context, the time betweenthe initiation of a process and its completion.
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| Lease |
| A contract by which one party gives to another party the use of property or equipment, e.g.containers, for a specified time against fixed payments. |
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| Leasing Company |
| The company from which property or equipment is taken on lease. |
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| Leasing Contract |
| A contract for the leasing of property or equipment. |
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| Legal Weight |
| The weight of goods plus any immediate wrappings which are sold along with the goods; e.g., the weight of a tin can together with its contents. See "Net Weight." |
| Less than Container Load |
| Abbreviation: LCL |
- A general reference for identifying cargo in any quantity intended for carriage in acontainer, where the Carrier is responsible for packing and/or unpacking the container.
- For operational purposes a LCL (Less than full container load) container is considered acontainer in which multiple consignments or parts thereof are shipped.
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| Less than Truck Load |
| Abbreviation: LTL |
| A term used if the quantity or volume of one or more consignment(s) does not fill a standardtruck. |
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| Lessee |
| The party to whom the possession of specified property has been conveyed for a period oftime in return for rental payments. |
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| Lessor |
| The party who conveys specified property to another for a period of time in return for thereceipt of rent. |
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| Letter of Credit |
| Abbreviation: L/C |
| A written undertaking by a bank (issuing bank) given to the seller (beneficiary) at the request,and on the instructions of the buyer (applicant) to pay at sight or at a determinable futuredate up to a stated sum of money, within a prescribed time limit and against stipulateddocuments. |
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| Letter of Indemnity |
| Written statement in which one party undertakes to compensate another for the costs andconsequences of carrying out a certain act. The issue of a letter of indemnity is sometimesused for cases when a shipper likes receiving a clean Bill of Lading while a carrier is notallowed to do so. Within P&O Nedlloyd the issue of letters of indemnity are contrary to thecompany's instructions. |
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| Levant |
| Eastern end of the Mediterranean. |
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| Liability |
| Legal responsibility for the consequences of certain acts or omissions. |
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| License |
| See "Exchange License," "Export License," "Import License," "Validated License." |
| Licensing |
| The grant of technical assistance and service and/or the use of proprietary rights, such as a trademark or patent, in return for royalty payments. |
| Lien |
| A legal claim upon real or personal property to pay a debt or duty. |
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| Life Cycle Cost |
| Encompasses all costs associated with the product's life cycle. These include all costsinvolved in acquisition (research & development, design, production & construction, andphase-in), operation, support and disposal of the product. |
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| Lift-On Lift-Off Vessel |
| Abbreviation: LOLO |
| Vessel of which the loading and discharging operations are carried out by cranes andderricks. |
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| Lighter |
| See Barge |
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| Lighter Aboard Ship |
| Abbreviation: Lash |
| A vessel which carries barges. |
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| Lighterage |
| The carriage of goods within a port area by a barge, e.g. from a vessel to a quay. |
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| Lightweight |
| Weight of an empty vessel including equipment and outfit, spare parts required by theregulatory bodies, machinery in working condition and liquids in the systems, but excludingliquids in the storage tanks, stores and crew. |
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| Line Item |
| See Order Line |
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| Line Number |
| See Flight Number |
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| Linear Programming |
| A mathematical procedure for minimising or maximising a linear function of several variables,subject to a finite number of linear restrictions on these variables. |
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| Liner Conference |
| A group of two or more vessel-operating carriers, which provides international liner servicesfor the carriage of cargo on a particular trade route and which has an agreement orarrangement to operate under uniform or common freight rates and any other agreedconditions (e.g. FEFC = Far Eastern Freight Conference). |
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| Liner In Free Out |
| Abbreviation: LIFO |
| Transport condition denoting that the freight rate is inclusive of the sea carriage and the costof loading, the latter as per the custom of the port. It excludes the cost of discharging. |
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| Liner Service |
| The connection through vessels between ports within a trade. |
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| Liner Shipping Company |
| A company transporting goods over sea in a regular service. |
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| Liner Terms |
| Condition of carriage denoting that costs for loading and unloading are borne by the carriersubject the custom of the port concerned. |
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| List |
| Inclination of a ship to port or starboard caused by eccentric weights such as cargo orballast. |
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| Live Stock |
| Cargo consisting of live animals, such as horses, cows, sheep and chickens. |
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| Lloyd's Register of Shipping |
| British classification society. |
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| Load |
| Quantity or nature of what is being carried. This term normally refers to transport by truck. |
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| Load Factor Management |
| The process of maximising the utilisation of the (slot) capacity of vessels and or other meansof transport. |
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| Loaden Vessel |
| Vessel where cargo has been put on board. |
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| Loading |
| The process of bringing cargo into a means of transport or equipment. |
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| Loading Platform |
| A flat surface to facilitate loading usually alongside a warehouse. |
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| Loadmaster |
| A load-calculator designed for a vessel approved by a classification bureau for the calculationof the vessels stability. |
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| Local Charge |
| See On-line Charge |
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| Local Rate |
| See On-line Rate |
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| Locating Pin |
| See Cones |
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| Location |
- Any named geographical place, recognised by a competent national body, withpermanent facilities used for goods movements associated with international trade, andused frequently for these purposes.
- Geographical place such as a port, an airport, an inland freight terminal, a containerfreight station, a container yard, a container depot, a terminal or any other place wherecustoms clearance and/or regular receipt or delivery of goods can take place.
- An area (e.g. in a warehouse) marked off or designated for a specific purpose.
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| Lock |
| For marine purposes: A space, enclosed at the sides by walls and at each end by gates, bywhich a vessel can be floated up or down to a different level. |
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| Locker |
| A compartment, in a shed or on board of a vessel, used as a safekeeping place to stowvaluable goods, which can be secured by means of a lock. |
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| Log Book |
| The daily report, authenticated by the master of all events and other relevant particulars of avessel, attested by the proper authorities as a true record. |
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| Logistics (CEN) |
The planning, execution and control
- of the movement and placement of people and/or goods
- and of the supporting activities related to such movement and placement within asystem organised to achieve specific objectives.
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| Logistics Chain |
| All successive links involved in the logistic process. |
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| Longitude |
| The angular distance of a position on the equator east or west of the standard Greenwichmeridian up to 180o east or west. |
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| Lorry |
| Motor truck used for transport of goods.
Note: Motor truck is an American term. British synonym for motor truck is Heavy GoodsVehicle. This British term means any vehicle exceeding 7.5 metric tons maximum ladenweight. |
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| Luffing Crane |
| A crane with which the load can be moved to or from the crane horizontally. |
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| Luggage |
| Travellers' baggage, suitcases, boxes etc., normally accompanied by a passenger. |
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| Lump-sum |
| An agreed sum of money, which is paid in full settlement at one time. This term is often usedin connection with charter parties. |
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| Lump-sum Charter |
| A voyage charter whereby the shipowner agrees to place the whole or a part of the vessel'scapacity at the charterer's disposal for which a lump-sum freight is being paid. |
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