Shipping Glossary
COMMON SHIPPING TERMS
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Label
  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.
   
Lash
  To hold goods in position by the use of, e.g., wires, ropes, chains and straps.
   
Leasing Company
  The company from which property or equipment is taken on lease.
   
Legal Weight
  The weight of the goods plus any immediate wrappings or packagings that are sold along with the goods, e.g., the weight of a tin can as well as its contents.
   
Less than Container Load
  Abbreviation: 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
  For operational purposes a LCL (Less than full container load) container is considered a container in which multiple consignments or parts thereof are shipped
  Abbreviation: LTL
  A term used if the quantity or volume of one or more consignment(s) 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 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.
   
Letter of Credit, Confirmed
  A letter of credit containing a guarantee on the part of both the issuing and advising banks of payment to the seller, provided the seller's documentation is in order and the terms of the letter of credit are met.
   
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.
   
Liability
  Legal responsibility for the consequences of certain acts or omissions.
   
Lien
  A legal claim upon real or personal property to pay a debt or duty.
   
Lighter
  An open or covered barge equipped with a crane and towed by a tugboat. Used mostly in harbors and inland waterways.
   
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 usually involves the haulage of general cargo as distinct from bulk cargo.
   
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
  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 Terms
  Condition of carriage denoting that costs for loading and unloading are borne by the carrier subject the custom of the port concerned.
   
Lloyd's Register of Shipping
  British classification society.
   
LO / LO (LIFT-ON/LIFT-OFF)
  Denotes the method by which cargo is loaded onto and discharged from an ocean vessel, which in this case is by the use of a crane.
   
Load Factor
  Capacity used as against capacity available and expressed as a percentage.
   
Logistics Management
  The efficient and cost-effective management of the physical movement of goods from supply points to final sale and the associated transfer and holding of such goods at various intermediate storage points.
 
 
 
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CRISIL ratings accredited to Logistic Integrators and have awarded NSIC-CRISIL Rating: SE 1B. This also highlights the Performance Capability of the company.

ACHILLES FIRST POINT ASSESSMENT, UK, certifies Logistic Integrators as an approved Supplier to Oil and Gas Industry. This certification enables the company to handle
the logistic services requirements of Oil and Gas Industry worldwide.

The leading trade magazine the LINK, interviews Logistic Integrators and publishes
as a cover story in the January issue.
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Logistic Integrators celebrates 5 years of success and growth.
 
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