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Acronyms




L

L. & D.

Loss and damage

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, authorizing the seller to draw a 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.

Lane metre

A method of measuring the space capacity of Ro Ro ships whereby each unit of space (linear metre) is represented by an area of deck 1m in length by 2.5m in width.

LASH

Lighter aboard ship: This technique for sea transport of cargoes uses barges floated into specially designed vessels. One of our competitors, Baco Line employs such vessels on the Europe/Africa trade. This technique enables low drafted barges to access shallow ports ie some of those in the Niger delta including Onne and Warri.

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.

Lashing

To hold goods in position by the use of, for example, wires, ropes, chains, or straps.

Laycan

Abbreviation for laydays cancelling periods during which a shipowner must tender notice that a ship has arrived at the port of loading and is ready to load cargo.

Laytime/Laydays

Time given by the shipowner to allow a chartered vessel to load and/or discharge cargo.

LCL

Less than a container load: A container with cargoes from/for different shippers/receivers, i.e. containing more than one shipper’s 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.

LI

Letter of Indemnity

LIC

Local import control

LIFFE

London International Financial Futures Exchange

Lighter

An open or covered barge equipped with a crane and towed by a tugboat. Used mostly in harbors and inland waterways.

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.

LILO

Liner in, liner out or full liner terms: Qualification to a freight rate which signifies that it consists of the ocean carriage and the cost of cargo handling at the loading and discharging ports (to ship’s rail) according to the custom of a particular set of ports.

Linear metre

Method of measuring volume of cargo on Ro Ro vessels, in which the measurement is an estimate of the length of the cargo laid end to end. (See lane metre.)

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 argo is loaded onto and discharged from an ocean vessel, which in this case is by the use of a crane.

LOA

Length over all: Vessel length.

Load Factor

Capacity sold as against capacity available, expressed as a percentage.

Ltge.

Lighterage

LTL

Less than truckload

NEWS
swiss opens cancun office swiss worldcargo has opened a station in cancun for exports, meaning all flights between zurich and cancun can now carry freight on both their inbound and outbound journeys. cargolux renews cargo iq for three years cargolux airlines international has renewed its cargo iq certification for the next three years. the cargo iq audit ensures that the company complies with cargo iq standards and contributes to the seamless transportation of air cargo in the supply chain. qatar bolsters south american freighter network qatar airways cargo has announced a major expansion of services in south america, with scheduled services to campinas, brazil (vcp), santiago, chile (scl), lima, peru (lim) and bogotá, colombia (bog) set to join the freighter network on 16 january 2020 and will be serviced by a boeing 777 freighter. ships stuck waiting for fuel at asia hub on rule-shift snarl ship owners are waiting longer and paying more to refuel at the asian hub of singapore as the industry scrambles to prepare for the implementation of new ship-fuel rules in just a few weeks. abu dhabi to be the centre of air cargo excellence abu dhabi airports and etihad cargo will enhance abu dhabi international airport, making it a state-of-the-art global air cargo centre of excellence. court rules in favour of atlas air and against union atlas air worldwide holdings has succeeded in its legal dispute with the pilot union, ordering them to negotiate a new deal. teleport signs interline deal with lufthansa cargo airasia’s cargo and logistics platform teleport has signed a direct interline agreement with lufthansa cargo. dubai air show: delivery bot impresses at cargo connect the effect of automation, artificial intelligence and digitalisation were the key topics at the cargo connect conference at dubai airshow 2019. china airlines cargo adds mumbai to network china airlines cargo added mumbai to its network on saturday 16 november, with two services a week. cargo.one bags etihad cargo in landmark deal etihad cargo has partnered with cargo.one to augment its digitalisation strategy in a landmark distribution agreement. maersk trials containerised battery maersk is set to trial a containerized 600 kwh marine battery system in december as it looks to improve vessel performance and reliability while reducing co2 emissions. apm gothenburg targets rail doubling apm terminals gothenburg plans to double the volume of containers transported by rail to and from gothenburg by 2022. japan joins virgin australia's cargo network virgin australia will add japan to its international cargo network in march with the launch of daily services between brisbane and tokyo-haneda. issa baluch inducted into tiaca hall of fame issa baluch has been inducted into the tiaca hall of fame, in recognition for his work across the air cargo industry. etihad launches "state of the art" cargo control centre etihad cargo has taken its data-driven digitalization journey another step forward with the launch of its state-of-the-art cargo control centre (ccc) at its head office in abu dhabi. schweizerzug ramps up euro network after successfully extending services in the first half of 2019 with additional connections between switzerland and belgium, schweizerzug ag is now increasing the frequency between frenkendorf and neuss and at the same time boosts niederglatt’s links to antwerp and rotterdam. egyptair cargo to use descartes vmail egyptair cargo will use descartes velocity mail (vmail) to streamline transporting air mail across its international network. aa cargo launches first phase of new end-to-end management system american airlines cargo recently launched the first phase of its single largest investment to-date with the roll out of a new cargo end-to-end management system on october 1st. wfs moves to sustainable plastics worldwide flight services (wfs) has claimed to be the first major air cargo industry company to begin converting the majority of plastic products used in its cargo handling operations over to the bionatur™ plastics line of sustainable products manufactured by m&g packaging. southern air appoints hactl for ramps hong kong air cargo terminals (hactl) has won the contract to provide ramp handling for kentucky (usa)-based freighter operator southern air inc.