Glossary

What does LT stand for? What does on-carriage mean? What's a time charter?

Shipping jargon and terminology can be confusing. In this section, we explain the meaning of the most commonly used international shipping terms.

If you still need a specific shipping term explained in detail, simply contact your nearest Safmarine office – we’re happy to help.

L
LNG Carrier
The management of freight and information throughout the total supply chain, from the original raw material source to the ultimate consumer of the finished product, encompassing factories, assembly and packing plants, warehouses, distribution centres and retail outlets.
Label Cargo
Any cargo that requires a label according to the provisions of the International Maritime Dangerous Goods Code.
Land Bridge
Containers moving from a foreign country by vessel, and then sent to an inland point by rail or truck; also known as a mini land bridge (MLB). OR An overland leg in an ocean journey, in which containers arriving by ocean vessel are transported overland by road or rail and delivered to another vessel for further transportation by sea. Compare to mini land bridge (MLB).
Less than container load (LCL)
A common term used for a shipment that does not require the full capacity of a container. Shipping rates per unit are commonly higher for LCLs. Consolidating several LCLs, from different places or shippers, to fill a container can reduce costs. Also known as less than trailer load (LTL
Less Than Container Load
A common term used for a shipment that does not require the full capacity of a container. Shipping rates per unit are commonly higher for LCLs. Consolidating several LCLs, from different places or shippers, to fill a container can reduce costs. Also known as less than trailer load (LTL)
Less than trailer load (LTL)

See less than container load (LCL).

Letter of Credit
Letters of credit may take various forms, represent various undertakings for various purposes and be subject to different conditions.
(1) Letter of agreement issued by a bank, stating that a foreign purchaser has established a line of credit in a seller's favour, and confirming that payment for goods will be made upon presentation of certain documents, which are in agreement with the terms in the letter of credit.
(2) A letter addressed by a banker to a correspondent certifying that a person named therein is entitled to draw on the banker, or the banker’s credit, up to a certain sum.
(3) A letter addressed by a banker to a person to whom credit is given, authorising that person to draw on the issuing bank, or on a bank in the person’s country, up to a certain sum, and guaranteeing to accept the drafts if duly made. Also referred to as a commercial letter of credit, confirmed credit or confirmed letter of credit.
Logistics
The management of freight and information throughout the total supply chain, from the original raw material source to the ultimate consumer of the finished product, encompassing factories, assembly and packing plants, warehouses, distribution centres and retail outlets.
Longshoreman
A terminal operator who is designated to facilitate the operation of loading and discharging vessels and various terminal activities. Also known as a stevedore.