| 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. |
|
| Laden
Vessel |
| See
Loaden Vessel |
|
| Land
Bridge |
| Overland
transport between following and/or preceding sea transport of goods
and/or containers. |
|
| Lash |
| To
hold goods in position by the use of, e.g., wires, ropes, chains
and straps. |
| See
Lighter Aboard Ship |
|
| Lashing
Point |
| Point
on a means of transport to which wires, chains, ropes or straps,
which are used to hold goods in position, are attached. |
|
| Last
Carrier |
| The
participating airline over which air routes the last section of
carriage under the Air Waybill is undertaken or performed (air cargo). |
|
| Last
In First Out |
| Abbreviation:
LIFO |
| A
method of which the assumption is that the most recently received
(last in) is the first to be used or sold (first out). |
|
| Lateral
and Front Stacking Truck |
| High-lift
stacking truck capable of stacking and retrieving loads ahead and
on either or both sides of the driving direction. |
|
| Latitude |
| The
angular distance of a position on its meridian north or south from
the equator, measured in degrees ('a vessel at 25 degrees north
latitude'). |
|
| 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, weather working days. |
|
| Lay
Up a Vessel |
| Temporary
cessation of trading of a vessel by the shipowner. |
|
| Layout
Key |
| See
United Nations Layout Key |
|
| Lazaretto |
| Place
where goods are fumigated, or where a person under quarantine is
quartered. |
|
| Lead
Time |
| The
amount of time between the request of a service and the actual provision
of this service.
A
span of time required to perform an activity. In a logistics context,
the time between the initiation of a process and its completion.
|
|
| 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. |
|
| Leasing
Company |
| The
company from which property or equipment is taken on lease. |
|
| Leasing
Contract |
| A
contract for the leasing of property or equipment. |
|
| Less
than Container Load |
| Abbreviation:
LCL |
| A
general reference for identifying cargo in any quantity intended
for carriage in a container, 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 a container in which multiple consignments or parts
thereof are shipped.
|
|
| Less
than Truck Load |
| Abbreviation:
LTL |
| A
term used if the quantity or volume of one or more consignment(s)
does not fill a standard truck. |
|
| Lessee |
| The
party to whom the possession of specified property has been conveyed
for a period of time in return for rental payments. |
|
| Lessor |
| The
party who conveys specified property to another for a period of
time in return for the receipt of rent. |
|
| 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 future date up
to a stated sum of money, within a prescribed time limit and against
stipulated documents. |
|
| Letter
of Indemnity |
| Written
statement in which one party undertakes to compensate another for
the costs and consequences of carrying out a certain act. The issue
of a letter of indemnity is sometimes used for cases when a shipper
likes receiving a clean Bill of Lading while a carrier is not allowed
to do so. Within P&O Nedlloyd the issue of letters of indemnity
are contrary to the company's instructions. |
|
| Levant |
| Eastern
end of the Mediterranean. |
|
| Liability |
| Legal
responsibility for the consequences of certain acts or omissions. |
|
back
to top  |
| Lien |
| A
legal claim upon real or personal property to pay a debt or duty. |
|
| Life
Cycle Cost |
| Encompasses
all costs associated with the product's life cycle. These include
all costs involved in acquisition (research & development, design,
production & construction, and phase-in), operation, support
and disposal of the product. |
|
| Lift-On
Lift-Off Vessel |
| Abbreviation:
LOLO |
| Vessel
of which the loading and discharging operations are carried out
by cranes and derricks. |
|
| Lighter |
| See
Barge |
|
| Lighter
Aboard Ship |
| Abbreviation:
Lash |
| A
vessel which carries barges. |
|
| Lighterage |
| The
carriage of goods within a port area by a barge, e.g. from a vessel
to a quay. |
|
| Lightweight |
| Weight
of an empty vessel including equipment and outfit, spare parts required
by the regulatory bodies, machinery in working condition and liquids
in the systems, but excluding liquids in the storage tanks, stores
and crew. |
|
| Line
Item |
| See
Order Line |
|
| Line
Number |
| See
Flight Number |
|
| 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. |
|
| Liner
Conference |
| A
group of two or more vessel-operating carriers, which provides international
liner services for the carriage of cargo on a particular trade route
and which has an agreement or arrangement to operate under uniform
or common freight rates and any other agreed conditions (e.g. FEFC
= Far Eastern Freight Conference). |
|
| Liner
In Free Out |
| Abbreviation:
LIFO |
| Transport
condition denoting that the freight rate is inclusive of the sea
carriage and the cost of loading, the latter as per the custom of
the port. It excludes the cost of discharging. |
|
| Liner
Service |
| The
connection through vessels between ports within a trade. |
|
| Liner
Shipping Company |
| A
company transporting goods over sea in a regular service. |
|
| Liner
Terms |
| Condition
of carriage denoting that costs for loading and unloading are borne
by the carrier subject the custom of the port concerned. |
|
| List |
| Inclination
of a ship to port or starboard caused by eccentric weights such
as cargo or ballast. |
|
| Live
Stock |
| Cargo
consisting of live animals, such as horses, cows, sheep and chickens. |
|
| Lloyd's
Register of Shipping |
| British
classification society. |
|
| Load |
| Quantity
or nature of what is being carried. This term normally refers to
transport by truck. |
|
| Load
Factor Management |
| The
process of maximising the utilisation of the (slot) capacity of
vessels and or other means of transport. |
|
| Loaden
Vessel |
| Vessel
where cargo has been put on board. |
|
| Loading |
| The
process of bringing cargo into a means of transport or equipment. |
|
| Loading
Platform |
| A
flat surface to facilitate loading usually alongside a warehouse. |
|
| Loadmaster |
| A
load-calculator designed for a vessel approved by a classification
bureau for the calculation of the vessels stability. |
|
| back
to top |
| Local
Charge |
| See
On-line Charge |
|
| Local
Rate |
| See
On-line Rate |
|
| Locating
Pin |
| See
Cones |
|
| Location |
| Any
named geographical place, recognised by a competent national body,
with permanent facilities used for goods movements associated with
international trade, and used frequently for these purposes.
Geographical
place such as a port, an airport, an inland freight terminal,
a container freight station, a container yard, a container depot,
a terminal or any other place where customs 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.
|
|
| Lock |
| For
marine purposes: A space, enclosed at the sides by walls and at
each end by gates, by which a vessel can be floated up or down to
a different level. |
|
| Locker |
| A
compartment, in a shed or on board of a vessel, used as a safekeeping
place to stow valuable goods, which can be secured by means of a
lock. |
|
| Log
Book |
| The
daily report, authenticated by the master of all events and other
relevant particulars of a vessel, attested by the proper authorities
as a true record. |
|
| 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 a system organised to achieve specific objectives. |
|
| Logistics
Chain |
| All
successive links involved in the logistic process. |
|
| Longitude |
| The
angular distance of a position on the equator east or west of the
standard Greenwich meridian up to 180o east or west. |
|
| Lorry |
| Motor
truck used for transport of goods.
Note:
Motor truck is an American term. British synonym for motor truck
is Heavy Goods Vehicle. This British term means any vehicle exceeding
7.5 metric tons maximum laden weight.
|
|
| Luffing
Crane |
| A
crane with which the load can be moved to or from the crane horizontally. |
|
| Luggage |
| Travellers'
baggage, suitcases, boxes etc., normally accompanied by a passenger. |
|
| Lump-sum |
| An
agreed sum of money, which is paid in full settlement at one time.
This term is often used in connection with charter parties. |
|
| Lump-sum
Charter |
| A
voyage charter whereby the shipowner agrees to place the whole or
a part of the vessel's capacity at the charterer's disposal for
which a lump-sum freight is being paid. |
