Glossary of Terms - L

Land Bridge

Overland transport between, following and/or preceding sea transport of goods and/or containers.

Lay Days

The number of days allowed in a charter party for the loading and discharging of cargo.

Less than Container Load (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 or a container in which multiple consignments or are shipped.

Less than Truck Load (LTL)

A term used if the quantity or volume of one or more consignment(s) does not fill a standard truck.

Letter of Indemnity

Written statement in which one party undertakes to compensate another for the costs and consequences of carrying out a certain act.

Lift-On Lift-Off Vessel (LOLO)

Vessel of which the loading and discharging operations are carried out by cranes and derricks.

Lighter

See Barge

Lighter Aboard Ship (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.

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 (LIFO)

Transport condition denoting that the freight rate is inclusive of the sea carriage and the cost of loading, but excluding the cost of discharging.

Liner Service

The regular and advertised service by vessels between given ports within a particular 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 ports concerned.