Abbreviations & Definitions
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L&D  Loss and Damage 
L&R  Lake and rail 
L. or LDN  Laden 
L.B.H.  Length / breadth / height 
L.T  Long tons 
L.T.  Long Tons (2240 lbs) 
L.T. or LT  Liner Terms 
L.T. or LT or LTONS  Long tons 
L/C  Lay Can or Letter of credit 
L/C or LAYCAN or LC or LYCN  Laydays/Canceling date 
L/C or LC  Letter of credit 
L/D  Loading / discharging 
L/I or LOI  Letter of indemnity 
L/P  Loading Port 
L/S or LS or LPS or LUMPS  Lumpsum 
LA  Los Angeles (USA) or Letter of Authority or Letter of Appointment 
Lacyhrymator  A material which produces an excess production of tear fluid when it comes into contact with the eye.  
Laden  Loaded aboard a vessel. 
Lading  Refers to the freight shipped; the contents of a shipment. 
Lakers  Bulkers prominent on the Great Lakes, often identifiable by having a forward house which helps in transiting locks. Operating in fresh water, these ships suffer much less corrosion damage and have a much longer lifespan than saltwater ships. 
LAKES  Great Lakes (US/CA) 
Landbridge  Movement of cargo by water from one country through the port of another country, thence, using rail or truck, to an inland point in that country or to a third country. As example, a through movement of Asian cargo to Europe across North America. 
Landed Cost  The total cost of a good to a buyer, including the cost of transportation. 
Landing Certificate  Certificate issued by consular officials of some importing countries at the point or place of export when the subject goods are exported under bond. 
Landing Craft  An open deck cargo vessel onto which cargo is loaded and unloaded over a bow door/ramp 
Landing Gear  A support fixed on the front part of a chassis (which is retractable); used to support the front end of a chassis when the tractor has been removed. 
Landing Ship (Dock Type)  A combat vessel designed for the transport of troops, using a semi submersible dock to launch landing craft or helicopters, and with ro-ro ramp facilities 
LANE METER  whereby each unit of space (Linear Meter) is represented by an area of deck 1.0 meter in length x 2.0 meters in width. 
Lanemeter  Primarily used to indicate the cargo capacity of a roll–on/roll–off car carrier. It is one meter of deck with a width of 2.5 to 3.0 meters. 
Lard  The rendered fat of the pig. One of the traditional cooking fats, especially in Europe and USA. The best quality lard is obtained from the internal fats surrounding the kidney etc. Pork backfat is significantly softer in character. 
LASH  Lighter Aboard Ship 
LAT  Latitude or Lowest Astronomical Tide 
Latex (pl. latices)  A water emulsion of a synthetic rubber or plastic obtained by polymerization and used especially in coatings, paints and adhesives. Latices include a binder dispersed in the water and form films by fusion of the plastic particles as the water evaporates. Properties of these films, such as hardness, flexibility, toughness, adhesion, color retention, and resistance to chemicals, depend on the composition of the plastic. 
Latex Tanker  A tanker for the bulk carriage of latex 
Lauric Acid  Lauric acid is a commonly distributed, naturally occurring saturated fatty acid (C12:0). The richest common sources of lauric acid are coconut, palm kernel and babassu oils. 
Lauric Fats and Oils  The largest volume lauric fats and oils are coconut and palm kernel, which are vital to the manufacture of surfactants among other applications. Lauric oils typically contain 40-50% lauric acid (C12) in combination with lesser amounts of other relatively low-molecular-weight fatty acids. 
Lauric Oils  Oils containing 40-50% lauric acids (C12 ) in combination with other relatively low molecular weight fatty acids. Coconut and palm kernel oils are principal examples. 
LAYCAN  Laydays/cancelling 
Laycan  The period when a spot chartered ship must arrive to load a cargo. The word combines “laydays” and “cancellation” as does the concept. Charter parties specify a range of days when the terminal will receive the ship which corresponds to the laydays of the stem. This period ends with the last moment a ship can give notice of readiness to berth and lift a cargo within its laydays. If the tanker does not arrive by that point, the charterer usually has several options including cancelling the charter. 
Laydays  The ship-loading window allotted to a parcel of oil. A supplier names a period of time when his customer must lift the oil he has purchased. Cargoes get several days, barges perhaps a single day, consistent with the time required to load the quantity involved. The window takes account of the flexibility needed in commercial shipping. But it also considers shore tank capabilities and the need to use terminals and berths efficiently. Laydays, also called stem dates, can become the identity tag of a cargo. A refinery, for instance, which continuously produces and ships a grade of motor gasoline cannot make many practical distinctions between one lot and another. Hence, the trade talks about some oil company's July 14-16 unleaded regular or December7-9 DERD –2494. 
Laytime  A specific number of hours, named in the pertinent charter party, a tanker must prepare to spend on berth at the shipowner's expense. Details vary from one fixture to another. Usually, though, owner and charterer agree on a total laytime for a voyage which must accommodate loading and discharge. The charterer pays for any hours over that number as demurrage. 
LB  Long Bearch (USA) or Pounds 
LB.(S)  Pound(s) 
LBP  Length Between Perpendiculars 
LC  Last Cargo or London Clause 
LC-50  Lethal Concentration 50. This concentration of a hazardous material in air is expected to kill 50% of a group of test animals when given as a single respiratory exposure in a specific time period 
LCI  Lambert’s Capesize Index 
LCL  Less than Full Container Load 
LCL/FCL  More than one Shipper/one Consignee 
LCM  Least common multiple 
LCR  Lowest current rate 
LD  Lethal Dose. The dose of a substance being tested which will kill a test+ animal. 
LD-50  Lethal Dose 50. The single dose, other than inhalation, that causes death in 50% of an animal population from exposure to a hazardous substance. 
LD-LO  Lethal Dose Low. The lowest dose, other than inhalation, that caused death in humans or animals. 
LDD  Leaded 
LDG  Loading 
LDN  London 
LDO  Light diesel oil 
LDPE  Low Density Polyethylene. A plastic used predominantly in film applications due to its toughness, flexibility and relative transparency. LDPE has a low melting point, making it popular for use in applications where heat sealing is necessary. Typically, LDPE is used to manufacture flexible films such as those used for plastic retail bags and garment dry cleaning and grocery bags. LDPE is also used to manufacture some flexible lids and bottles, and it is widely used in wire and cable applications for its stable electrical properties and processing characteristics. (Adapted from Modern Plastics Encyclopedia 1995) 
LDPT  Load Port 
LDT  Light Displacement tonnes 
Lead  Tetra-ethyl (TEL) or tetra-methyl (TML) lead, primarily. These lead alkyls improve the octane rating of certain motor gasoline blendstocks quite inexpensively. Concern about the health effects of lead and other airborne pollutants generated restrictions on use of these octane boosters in many parts of the world over the past few years. 
Lead response  The susceptibility of a motor gasoline blending component to octane improvement by addition of lead alkyl anti- knock compounds. 
Lecithin  The mixed phosphatides obtained from vegetable oils in the degumming process. The main source is from soybean oil. 
Leeway  The weather side of a ship is the side from which the wind is blowing. The Lee side is the side of the ship sheltered from the wind. A lee shore is a shore that is downwind of a ship. If a ship does not have enough “leeway” it is in danger of being driven onto the shore. 
LEFO  Land’s end for orders 
LEG  LEgal Committee 
LEL  Lower Explosive Limit 
LEMA  Local Emergency Management Agency 
Less Than Truckload  Also known as LTL or LCL. 
Let the Cat Out of the Bag  In the Royal Navy the punishment prescribed for most serious crimes was flogging. This was administered by the Bosun's Mate using a whip called a cat o' nine tails. The "cat" was kept in a leather or baize bag. It was considered bad news indeed when the cat was let out of the bag. Other sources attribute the expression to the old English market scam of selling someone a pig in a poke(bag) when the pig turned out to be a cat instead. 
Lethal Concentration Low, LC-LO  This value indicates the lowest concentration of a substance in the air that caused death in humans or laboratory animals. This value may represent periods of exposure that are less than 24 hours (acute) or greater than 24 hours (subacute and chronic). 
Letter of Credit (LC)  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, usually the receipt by the bank of certain documents within a given time. 
Letter of Indemnity  In order to obtain the clean bill of lading, the shipper signs a letter of indemnity to the carrier on the basis of which may be obtained the clean bill of lading, although the dock or mate’s receipt showed that the shipment was damaged or in bad condition. 
LF  Low frequency 
LFL  Lower Flammable Limit 
LGC  Liquified gas carrier 
LGC or L.G.C.  Longitudinal Center of Gravity: That point at which the combined weight of all the items that constitute a ship's weight are considered to be concentrated; usually stated as either aft or forward of the middle perpendicular or the midship frame. 
LGFM  London Grain Fixtures Market 
LGSP  Liquid Gas Sampling Procudures (SIGTTO) 
LGT  LenGThened 
LH  Lower hold 
LHAR  London, Hull, Antwerp, Rotterdam range 
LIBA  Lloyd's Insurance Brokers Association 
Lien  A legal claim upon goods for the satisfaction of some debt or duty. 
LIFO  Liner In Free Out or Last In First Out 
Lift  To take purchased product by loading it aboard a transportation vessel at the point of production or storage. 
Lifter  A product purchaser who takes (lifts) crude, fuel, or feedstock physically from a producer's or reseller's facility. Oil frequently has a buyer and a lifter. The buyer, some times a contract holder, sells his stem to someone else who lifts it from the source. 
Lifting  Process of loading cargo for transport. 
Lifting subjects  Confirmation of a deal by removal of any exceptions--any subjects--left open at the time of its conclusion. 
Light Crude  Crude oil that is easier to pump and process due to a lower viscosity. 
Light ends  Hydrocarbons lighter than naphtha derived from crude oil and natural gas processing. The industry also describes this collection of volatile materials as “C 4 and lighter.” Butane, propane, ethane and methane, the predominant hydrocarbons in this cut, would evaporate once separated from the rest of the oil barrel unless confined in special storage vessels or re-dissolved in heavier fractions. All the substances in this fraction boil below 90 F. 
Light naphtha  A naphtha cut with a boiling range which commonly extends from pentane through 175 F or perhaps a bit higher. The exact end point varies with the needs and objectives refiner. See NAPHTHA. 
Light products  Refinery products in the middle distillate and naphtha boiling ranges. 
Lightening  A vessel discharges part of its cargo at anchor into a lighter to reduce the vessel’s draft so it can then get alongside a pier. 
Lighter  An open or covered barge towed by a tugboat and used mainly in harbors and inland waterways to carry cargo to/from alongside a vessel. 
Lighterage  Refers to carriage of goods by lighter and the charge assessed there from. 
Lightering  Unloading of cargo from deep draft vessels into smaller vessels that are able to enter shallower ports. 
Lightering  ship-to-ship transfer of cargo in deepwater to complete loading of a vessel leaving a shallow load port (or berth) or to partially unload one which draws too much water to reach a shallow point. 
Lighthouse Tender  A vessel equipped for supply of stores and personnel to lighthouses 
Lightship  A vessel specifically designed for use as a lightship for use as a navigational mark 
Limestone Carrier  A single deck cargo vessel for the carriage of limestone in bulk. There are no weather deck hatches. May be self discharging 
Line–Haul  Transportation from one city to another as differentiated from local switching service. 
Liner  A vessel advertising sailings on a specified trade route on a regular basis. It is not necessary that every named port be called on every voyage. 
Linkspan/Jetty  Any classified linkspan, jetty or floating access pontoon 
Linoleic Acid  Linoleic acid is the most important poly-unsaturated fatty acid, naturally occurring in natural fats and oils (C18:2). It is an essential fatty acid, i.e. a dietary requirement for healthy animals. Physiologically important as a precursor for the production of prostaglandin. 
Linolenic Acid  It is widely distributed in nature as a major component of many of the more highly unsaturated vegetable oils (C18:3). It is a major component of linseed oil and its high degree of unsaturation is responsible for the drying properties of the oil. 
Lipid  Historically a general term for natural organic products that are insoluble in water but soluble in organic solvents. The most common lipids are the neutral triglycerides (oils, fats) but the term includes minor components, often of biological importance, such as phosphatides, sterols, squalene and partial glycerides. 
Lipoprotein  Any of the class of proteins that contain a lipid combined with a simple protein. 
Liquefaction  Process that takes clean natural gas and condenses it using a refrigeration process. Temperature of the gas is reduced to a very frigid - 260°F (-163°C), reducing its volume by more than 600 times. At this temperature LNG can be stored and transported as a liquid without having to be pressurized. 
Liquefied Natural Gas  LNG - Natural gas that has been cooled to - 260°F ( - 163°C), which liquefies it for safer, easier transport. 
Liquidated Damages  The penalty a seller must pay if the construction project does not meet contractual standards or dead- lines. 
List  The amount in degrees that a vessel tilts from the vertical. 
Listless  When a ship was listless, she was sitting still and upright in the water, with no wind to make her lean over (list) and drive ahead. 
Liter  1.06 liquid U.S. quarts or 33.9 fluid ounces. 
Live Fish Carrier (Well Boat)  A vessel for the carriage of live fish in water tanks 
Livestock Carrier  A cargo vessel arranged for the carriage of livestock 
LKG&BKG  Leakage and breakage 
LL  Load lines or Long Lenghts 
LLDPE  Linear Low Density Polyethylene. A plastic that is used predominantly in film applications due to its toughness, flexibility and relative transparency. LLDPE is the preferred resin for injection molding because of its superior toughness and is used in items such as grocery bags, garbage bags and landfill liners. (Adapted from Modern Plastics Encyclopedia 1995) 
LLMC  Limitation of Liability for Marine Claims 
Lloyds’ Registry  An organization maintained for the surveying and classing of ships so that insurance underwriters and others may know the quality and condition of the vessels offered for insurance or employment. 
LLT  London landed terms 
LM  Lane meters 
LMC  Lloyd's Machinery Certificate 
LMMA  London Maritime Arbitration Association 
LMT  Local mean time 
LNG  Liquefied Natural Gas: Natural gas that has been converted temporarily to liquid form for ease of storage or transport. 
LNG (Liquefied Natural Gas)  Natural gas will liquefy at a temperature of approximately -259 F or -160 C at atmospheric pressure. One cubic foot of liquefied gas will expand to approximately 600 cubic feet of gas at atmospheric pressure. 
LNG Carriers  Liquefied Natural Gas Carriers - Specialized ships that carry super-cooled liquefied natural gas. 
LNG Tanker  A tanker for the bulk carriage of Liquefied Natural Gas (primarily methane) in independent insulated tanks. Liquefaction is achieved at temperatures down to -163 deg C 
LNGC (LNG Carrier)  An ocean-going ship specially constructed to carry LNG in tanks at 160 C. Current average carrying capacity of LNGs is 125,000 cubic metres. Many LNGCs presently under construction or on order are in the 210,000 – 215,000 cubic metre range. 
LO  Lubricating oil 
Lo Ho  Lower Hold 
LO/LO  Lift-On Lift-Off or Load-On Load-Off 
LOA  Length Over All or Letter of Appointment 
LOA  Length-over-all. Distance between the fore-most and aft-most points of a ship. 
Load Center  A high volume container port effectively reducing vessel port calls by concentrating intermodal sea-land transfers at a few large ports rather than spreading them out among a larger number of small ports. 
Load Line  The waterline corresponding to the maximum draft to which a vessel is permitted to load, either by freeboard regulations, the conditions of classification, or the conditions of service. See also Plimsoll Mark. 
Load on Top  The procedure where a crude oil cargo is loaded into tanks on top of residues from a previous cargo (these residues are normally held in a "slop tank" and are the result of tank washing and dirty ballast decanting operations on pre-MARPOL ships). 
Loaded specs  The quality of a cargo of oil as tested at loading aboard a vessel. Information frequently offered as actual specifications. 
LOC  Letter of Compliance (USA) 
Local Cargo  Cargo delivered to/from the carrier where origin/destination of the cargo is in the local area. 
Local toxicity  Adverse effects seen at the site where the test material comes into initial contact with the organism. 
Localized Corrosion  Corrosion preferentially concentrated on discrete sites of the metal surface exposed to the corrosive environment 
Location swap  A deal in which companies trade oil in one place for some somewhere else. 
Lock and Dam  a device for raising and lowering boats from one water level to another. It is often associated with a dam. 
Locks  Tows must navigate through locks in order to get around dams on the rivers. Many locks on the nation's waterways are now over 60 years old and are too small to accommodate the size of the modern tows, forcing those tows to be broken up and taken through the lock piecemeal. Since this affects the industry's efficiency and safety, the towing industry is asking Congress to approve locks modernization projects. The industry pays half the cost of modernization through a fuel tax. 
LOF  Lloyd’s Open Form. (Salvage Agreement), 1995 
LOF 95  Lloyds Standard Form of Salvage Agreement 
Log P OW  See Octanol-water partition coefficient 
Log Tipping Ship  A vessel equipped to transport logs discharge them into the water by tipping itself 
Log Towing  One disappearing but fascinating function of the towing industry is log towing, where small boats pull logs on rivers to sawmills in log rafts, frames of logs connected with chains within which are hundreds of logs. Today, this operation is only performed in the Pacific Northwest. 
Logistics Vessel (Naval Ro-Ro Cargo)  A naval auxiliary vessel. With ro-ro capability 
LOH  Loss of hire 
LOLO  Lift On Lift Off ship 
LONG  Longitude 
Long Haul  Operation on ship requiring the hauling of a lot of line. Also seen in short haul, an operation requiring little line. 
Long residue  see ATMOSPHERIC RESIDUE 
Long Shot  In old warships, the muzzle-loading cannon were charged with black powder of uncertain potency that would propel the iron shot an equally uncertain distance with doubtful accuracy. A 24-pounder long gun, for instance, was considered to have a maximum effective range of 1200 yards, even though, under the right conditions, a ball might travel some 3000 yards. Similarly, a short, stubby 32-pounder carronade’s lethality faded fast beyond 400 yards. Thus, the odds were against a hit when one fired a long shot. 
Long Ton  2,240 pounds 
Longitudinal Axis  Ship Stability: an axis drawn through the body of the vehicle from tail to nose in the normal direction of movement, or the direction the pilot faces. Parallel to the waterline. 
Longshoreman  Individual employed in a port to load and unload ships. 
Longshoremen  those employed to unload and load ships 
Loose  Without packing. 
Loose Cannon  A cannon having come loose on the deck of a pitching, rolling, and yawing deck could cause severe injury and damage. Has come to mean an unpredictable or uncontrolled person who is likely to cause unintentional damage. 
LOP  letter of protest 
LOSG  Lower Olefins Sector Group, a sector group of the Association of Petrochemicals Producers in Europe (APPE). For more information, click here. 
LOT  Load On Top 
Lovibond  This refers to a widely used system by which the colour of an oil can be measured. The essential features of this system consist of a light source, a series of calibrated coloured glasses forming the standards of reference and an instrument in which they can be matched against the oil. The colour scale consists of three series of coloured glasses - red, yellow and blue. These glasses are moved into position against the sample viewed until a match is obtained. This removal method is now becoming obsolete since a fully automated Lovibond meter was developed. The method was first developed by Mr Lovibond for the measurement of the colour of beer at his brewery in Salisbury, England in the Eighteenth Century and has been traditionally used for oil colours. 
LOW  Last open water 
Low pour  A description of distillate or residual fuel oils, which flow at relatively low temperatures. Sometimes, the industry uses this term, and its opposite, informally. Frequently, though, it designates oil meeting specific standards of a particular market. 
Low-speed diesel  Very powerful, heavy-duty diesel engines such as those used to drive ocean-going ships and large electricity generators.These engines burn residual oil. 
Low–Boy  A trailer or semi–trailer with no sides and with the floor of the unit close to the ground. 
Lower olefin  See Olefins 
LPA  Low Pressure 
LPD  Load port disbursements 
LPG  Liquefied Petroleum Gas: A nonrenewable gaseous fossil fuel, which turns to liquid under moderate pressure;by-product of natural gas processing and oil refining 
LPG  Liquified petroleum gas. Propane and butane captured as by-products of natural gas and crude oil processing. 
LPG Barge, propelled  A self propelled tanker barge for the bulk carriage of Liquefied Petroleum Gas 
LPG carriers  Tankers fitted to transport such volatile products as propane, butane, ammonia, and vinyl chloride monomer. These cargoes require high-pressure or refrigerated storage to keep them in liquid form. In these times of slack employment in their specialty, some of these tankers haul low-density clean products such as natural gasoline and naphtha. A few LPG carriers equipped with unusually powerful cooling systems can transport ethylene. 
LPG Tank Barge, non propelled  A non propelled tank barge for the carriage of LPG 
LPG Tanker  A tanker for the bulk carriage of Liquefied Petroleum Gas in insulated tanks, which may be independent or integral. The cargo is pressurised (smaller vessels), refrigerated (larger vessels) or both ('semi-pressurised') to achieve liquefaction.  
LPG/Chemical Tanker  An LPG tanker additionally capable of the carriage of chemical products as defined in the International Bulk Chemical Code 
LPGC  Liquified petroleum gas carrier 
LPL  Liverpool 
LQT  Liverpool quay terms 
LR  Lloyds Register or Long Range 
LR-1  AFRA's large-range 1 tankers. These ships' deadweight tonnages fall between 45,000 and 79,999. 
LR-2  AFRA's large-range 2 tankers. These vessels have deadweight tonnages between 80,000 and 159,999. 
LR1 Tanker  Long Range 1 (LR1) Tanker - Product tanker ranging in size between 45,000 and 79,999 deadweight tonnes. Main trade routes are Middle East Gulf to the Far East and Europe, or from northwest Europe to the United States. 
LR2 Tanker  Long Range 2 (LR2) Tanker - Product tanker ranging in size from 80,000 to 159,999 deadweight tonnes. Main trade routes are Middle East Gulf to the Far East and Europe, or from northwest Europe to the United States. The LR2 segment consists of the largest product tankers. The LR2 tankers usually transport “clean products” on the long distances from the Middle East to countries in Asia or Northern Europe. The LR2 tankers mainly transport “dirty products” on the long or intermediate distances out of the Black Sea to the Mediterranean or to the USA, or from the Baltic or the North Sea to Northern Europe or the USA. 
LRATE  Load rate 
LRF  Lloyds Register Fairplay: Publications such as the Register of Ships and the World Shipping Directory, Lloyd's Register - Fairplay also provides bespoke data services and market analyses. 
LRG  Large 
LS  Light Ship or Lump Sum 
LSA  Life Safety Appliances 
LSD  Landing Ship Dock or Landing Storage and Delivery 
LSD  Lashed, Secured and Dunnaged 
LSLSDU  Loaded, stowed, lasned, secured, dunnaged and unlashed 
LST  Local standard time 
LT  Local Time 
LT  Liner Terms 
Lt. V  Light vessel 
LT.V.  Light-vessel 
LTA  Long term agreement 
LTBENDS  Liner Terms, Both Ends 
LTGE  Lighterage 
LTI  Lost Time Injury - Key performance indicator measuring the loss of productive time due to injury. 
LTS  Laytime saved 
LTSBE  Laytime saved both ends 
Lubricating Oil  Is a Clean Petroleum Product (CPP) as defined in this section. It is a product of many specialist grades derived through the blending of components known as Base Oils. 
LUBS  Lubricants 
Lump Sum  An agreed sum of money for freight, irrespective of the amount of cargo carried. 
Lumpsum  A price for oil transportation quoted as a total for the cargo. This approach differs from the popular practice of charging a rate per ton carried. Lumpsums also differ from the rate method by including canal tolls and other items usually treated as surcharges. 
LVOC  Large Volume Organic Chemicals 
LW  Low Water 
LWH  Length, width, height 
LWM  Low water mark 
LWNA  Lumber Winter North Atlantic 
LWOST  Low Water On Ordinary Spring Tides 
LWR  Lower 
LWT  Lightweight tons