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Glossary - L


"L" side

Left side.

1) That side of a rail car on the left side of the observer when standing inside of the car and facing the end without the breke wheel.
2) That side of the trailer or container of the observer when standing inside with the back to the door.

L/C

See Letter of Credit.

Label

A slip of e.g. paper or metal attached to an object to indicate the nature, ownership, destination, contents, and/or particulars of the object.

Laden Vessel

See Loaden Vessel.

Lading

Freight which constitutes a load.

Lag Screw

Screw securement for blocking or as a retarding device between blocking and skids on machinery shipment.

Laminate

A product made by bonding together two or more layers of one or more materials.

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 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 (aircargo).

Last In First Out

Abbreviation: L.I.F.O.

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.

Lateral Blocking and/or Bracing

Materials used to prevent crosswise movement.

Lateral Void

See Crosswise Void.

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.

Layer, manual or hand stacked

A course or stratum of the load parallel to the floor or the rail vehicle and one container in height.

Layer, unitized

A course of stratum of the load parallel to the floor of the rail vehicle and one unit in height.

Layer numbering

Layers numbered consecutively from the floor upward.

Layout Key

See United Nations Layout Key.

Lay Up a Vessel

Temporary cessation of trading of a vessel by the shipowner.

L.C.L.

See Less than Container Load.

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 recognition of the need for an order and the receipt of goods. Individual components of lead time can include: order preparation time, queue time, move or transport time, rceiving and inspection time.

Lease

A contract by which one party gives to another party the use of property of equipment, e.g. containers, for a specified time and for fixed payment.

Leasing Company

The company from which property or equipment is taken on lease.

Leasing Contract

A contract of the leasing of property or equipment.

Length of Load

The space occupied by the shipping containers or articles from end to end of rail vehicle (it may be obtained by multiplying the average length of a representative shipping container or article by the number of stacks. It does not, however, include the lengthwise void in the rail vehicle nor the space occupied by space fillers).

Lengthwise

The arrangement of containers in the rail vehicle with the ends of the containers facing the ends of the rail vehicle.

Lengthwise Load

A load in which the containers are arranged lengthwise of the rail vehicle.

Lengthwise Void

That portion of lengthwise space not taken up with space fillers. It may be obtained by adding the length of load and the space occupied by space fillers, and substracting that total from the inside length of rail vehicle.

Less than Container Load

Abbreviation: L.C.L.

A freight rate for a container stuffed and stripped for account and risk of the carrier.

Less than Truck Load

Abbreviation: L.T.L.

A term used if the quantity or volume 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 undertaing by a bank (issuing bank) given to the seller (beneficiary) at the request, an 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 Nedlloyd the issue of letters of indemnity are contrary to the company s instructions.

Levels of Protection

The degree of preservation and packaging and packing required by the Federal Government to prevent deterioration or damage to supplies and equipment due to the hazards to which they may be subjected during shipment and storage.

Liability

Legal responsibility for the consequences of certain acts or omissions.

Lid

A separate top or cover of a box or other shipping container. May be hinged or otherwise attached.

Lien

A legal claim upon real or personal property to pay a debt or duty.

L.I.F.O.

See
1) Last In First Out
2) Liner In Free Out

Lift

A consolidated unit of freight which is loaded in one transfer by mechanical handling equipment used in the wallboard/wood products industry.

Lift-On Lift-Off Vessel

Abbreviation: L.O.L.O.

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

Light Weight

The actual weight of an empty rail vehicle.

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-Haul

The movement of freight over the tracks of a transportation line from one town or city to another town or city (not switching service).

Line Number

See Flight Number.

Linear Programming

A mathematical procedure for minimizing or maximizing a linear function of several variables, subject to a finite number of linear restrictions on these variables.

Liner

A) Any object or non-adhered object which separates a product within a container from the basic walls of the shipping container.
B) Wood, plastic, metal or fibreglass fastened to the inside of a rail vehicles superstructure.

Liner Board

Paperboard used for the flat facings in corrugated fibreboard; also as the outer plies of solid fibreboard.

Liner Conference

A group of two or more vessel-operating carriers, which provides international liner services for the carriage of cargo on a particular route or routes within specified geographical limits and which has an agreement or arrangement, whatever is applicable, within the framework of which they operate under uniform or common freight rates and any other agreed conditions with respect to the provision of liner services.

Liner In Free Out

Abbreviation: L.I.F.O.

Transport condition denoting that the freight rate is inclusive of the sea carrriage and the cost of loading, the latter as per the custom of the port. It excludes the cost of discharging.

Liner Shipping Company

A company transporting goods over sea in a regular service.

Liner Terms

Condition of carriage denoting that a division of costs of loading and discharging between the shipper, consignee and shipowner correspond with the custom of the port concerned.

Liquid

Fluid substance having a vapour pressure not greater than 3 bar absolute at 50C.

Live Stock

Cargo consisting of live animanls, 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 Anchors

Temporary hooks used to secure one end of steel strapping to belt rails in rail vehicles.

Load Cushioner

A trade name for a load cushioning seal.

Load Cushioning Seals

A flanged metal seal which is to be crimped to a strap and nailed to rail verhicle floor for the retardation of longitudinal movement of the load.

Load Deck

See Deck Load.

Load Glued

See Glued Load.

Load Limit

Maximum total weight of lading and dunnage material which may be loaded in a rail car stenciled on outside wall (i.e. 121265 pounds).

Loaden Vessel

Vessel where cargo has been put on board. Synonym: Laden Vessel.

Loading

The process of bringing cargo into a means of transport or equipment.

Loading Plan

Any predetermined plan for the placement of items, packages, etc., into a shipping container or for palletizing containers in a particular pattern.

Loading Platform

A flat surface to facilitate loading usually alongside a warehouse.

Local Charge

See On-line Charge.

Local Rate

See On-line Rate.

Located Externally

Partially or totally outside the external dimensional envelope of the (thermal) container as defined in ISO 668. It is implicit in this definition that an appliance located externally must be removable or retractable to allow or facilitate transport in certain modes.

Located Internally

Totally within the external dimensional envelope of the (thermal) container as defined in ISO 668.

Locating Pin

See Cones.

Location

1) Any geographical place with permanent facilities, including Customs control allowing goods to change their status from moving in international traffic or vice versa.
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 (e.g. daily) receipt or delivery of goods can take place.
3) An area in a warehouse marked off or designated for a specific purpose.

Lock

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 of all events and other relevant particulars of a vessel.

Logistics

1) In industrial context this term refers to the planning, organisation, control and execution of the goods flow from purchasing through production and distribution to the final customer in order to satisfy the requirement of the market.
2) In Nedlloyd context, this term mostly refers to the process of warehousing, transporting and distributing goods and cargo and the positioning of containers and/or equipment.

Logistics chain

All successive links involved in the logistic process.

L.O.L.O.

See Lift-On Lift-Off Vessel.

Longitude

The angular distance of a position on its meridian east or west of the standard Greenwich meridian up to 180 east or west.

Longitudinal Blocking and/or Bracing

Materials used to prevent lengthwise movement.

Loop Ties

Wire loops used to secure a lid to a wirebound container.

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.

L.T.L.

See Less than Truck Load.

Luffing Crane

A crane with which the load can be moved to or from the crane horizontally.

Luggage

Travellers baggage, suitcases, boxes etc., which normally accompany a passenger.

Lumpsum

An agreed sum of money, which is paid in full at one time. This term is often used in connection with charter parties.

Lumpsum 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 lumpsum freight is being paid.