| ABBREVIATION |
MEANING |
| LANE METER |
A method of measuring the space capacity of Ro/Ro ships 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. |
| LASH |
To hold goods in position by use of Ropes, Wires, Chains or Straps etc. |
| LAT |
Latitude. The distance north or south of the equator measured and expressed in degrees. |
| LAYCAN |
Laycan (Layday Cancelling Date) |
| LAYTIME |
Time at Charterers disposal for purpose of loading/discharging |
| L/C |
Letter of Credit |
| LCR |
Lowest Current Rate |
| LEE |
The side sheltered from the wind |
| LEEWARD |
The direction away from the wind. Opposite of windward |
| LEEWAY |
The sideways movement of the ship caused by either wind or current |
| LF |
Load Factor. Percentage of cargo or passengers carries e.g. 4,000 tons carried on a vessel of 10,000 capacity has a load factor of 40% |
| LIEN |
Retention of property until outstanding debt is paid |
| LNG |
Liquefied Natural Gas |
| LOA |
Length Overall of the vessel |
| LOAD LINE |
SEE PLIMSOLL LINE |
| LOF |
Lloyds Open Form |
| LOG |
A record of courses or operation. Also, a device to measure speed |
| LOI |
Letter of Indemnity |
| LONGITUDE |
The distance in degrees east or west of the meridian at Greenwich, England |
| LOW |
Last Open Water |
| LS (or LUMPS) |
Lumpsum Freight. Money paid to Shipper for a charter of a ship (or portion) up to stated limit irrespective of quantity of cargo |
| LSD |
Lashed Secured Dunnaged |
| LT1 |
Liner Terms |
| LT2 |
Long Ton = 1,016.05 kilogram (2,240 lbs) |
| LTHH |
Liner Terms Hook/Hook |
| LW |
Low Water |
| LYCN |
Laycan (Layday Cancelling Date) |
