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Lighterage
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
Order Line
Line Number
Flight Number
Liner Conference
Group of two or more shipping lines, 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
Connection through vessels between ports within a trade.  
Liner Shipping Company
Company transporting cargo in a regular service by ocean vessels.  
Liner Terms
Condition of carriage denoting that costs for loading and unloading are borne by the carrier subject to the custom of the port concerned. Free inFree in Liner outFree in and outLiner in Free out
Live Stock
Cargo consisting of live animals, such as horses, cows, sheep and chickens.  
Lloyd's Register of Shipping
British classification society. Classification Society
Load
Quantity or nature of what is being carried. This term normally refers to transport by truck.  
Load Factor Management
Process of maximizing the utilization of the (slot) capacity of vessels and/or other means of transport. Yield Management
Load Master
Person supervising process of loading and unloading.  
Loaden Vessel
Vessel where cargo has been put on board. Laden Vessel
Loading
Physical process of bringing cargo into a means of transport.  
Loading Platform
Flat surface to facilitate loading usually alongside a warehouse.  
Loadmaster
Load calculator designed for a vessel approved by a classification bureau for the calculation of the vessel's stability.  
Loan Collection
Method of financing by which an exporter borrows on the basis of drafts turned over to a bank for collection.  
Loan Receipt
Document signed by the assured where they acknowledge receipt of money advanced by the insurance company as an interest-free loan (instead of payment of a loss) repayable to the insurance company only if the loss is recovered from a third party and then only to the extent of the recovery.  
Local Charge
On-Line Charge
Local Rate
On-Line Rate
Locating Pin
Cones
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
Compartment, in a shed or on board of a vessel, used as a safekeeping place to stow valuable goods, and which can be secured by means of a lock.  



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