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Label |
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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/or containers. |
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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 hold goods in position, are
attached. |
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Last Carrier |
|
The participating airline over which air routes the last
section of carriage under the Air Waybill 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 be used 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 both sides of the driving
direction. |
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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'). |
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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, weather
working 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 |
1. The amount of time between
the request of a service and the actual provision of this
service.
2. A span of time required to perform an activity. In a
logistics context, the time between the 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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Less than Container Load |
|
Abbreviation: LCL |
1. 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.
2. For operational purposes a LCL (Less than full container
load) container is considered a container 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 standard truck. |
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Lessee |
|
The party to whom the possession of specified property has
been conveyed for a period of time 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 the receipt 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
future date up to a stated sum of money, within a prescribed
time limit and against stipulated documents. |
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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. |
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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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|
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 costs involved in acquisition
(research & development, design, production & construction,
and phase-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 and derricks. |
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Lighter |
|
See
Barge |
| |
|
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 the regulatory bodies, machinery in
working condition and liquids in the systems, but excluding
liquids in the storage tanks, stores and crew. |
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|
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). |
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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 cost of 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 carrier subject 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 or ballast. |
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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. |
| |
|
Load Factor Management |
|
The process of maximising the utilisation of the (slot)
capacity of vessels and or other means of transport. |
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|
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. |
| |
|
Local Charge |
|
See
On-line Charge |
| |
|
Local Rate |
|
See
On-line Rate |
| |
|
Locating Pin |
|
See
Cones |
| |
|
Location |
1. 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.
2. 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.
3. 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, 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. |
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|
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. |
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|
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. |
| |
