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Interchange | Transfer of a container from one party Knot | A unit of speed. The term “knot” means
to another.
velocity in nautical miles per hour whether of a vessel

or current. One nautical mile is roughly equivalent to

Interior Points Intermodal (IPI) | A term used by ocean 1.15 statute miles or 1.85 kilometers.
carriers to describe door-to-door delivery service.
L

Intermodal | Pertaining to transportation involving
more than one form of carrier: truck, ship, and rail.

Lashing | Support for cargoes inside a container or

Intermodal Transport | Moving ocean freight a cargo hold to ensure they are secured and will not
containers by various transportation modes. The fact be subject to rolling during the voyage from origin to

that the containers are of the same size and have destination.

common handling characteristics permits them to be
transferred from truck to railroad to air carrier to ocean Late-Come | A term used in the liner industry when

carrier.
extensions are being given to the shippers against

the oficial CY or CFS closing date and time, which
International Maritime Consultative Organization carriers publish to the trade.

(IMCO) | A forum in which most major maritime nations

participate and through which recommendations for LCL/FCL | See “CY/CFS.”
the carriage of dangerous goods, bulk commodities,

and maritime regulations become internationally LCL/LCL | See “CY/CFS.”

acceptable.
Less than Container Load (LCL) | Cargo in quantity

International Maritime Dangerous Goods (IMDG) less than required for the application of a container

Code | The IMCO recommendations for the carriage load rate.
of dangerous goods by sea.

Letter of Indemnity | Guarantee from the shipper or

International Organization for Standardization consignee to indemnify carriers or forwarders for costs
(ISO) | ISO is a worldwide federation of national and/or loss, if any, in order to obtain favorable action

standards bodies from some 130 countries, one from by carriers or forwarders. It is customary practice for

each country. It is a non-governmental organization carriers and forwarders to demand letters of indemnity
established in 1947 to promote the development of from consignees for taking delivery of cargo without

standardization facilitating international trade. ISO’s surrendering a bill of lading that has been delayed or

work results in international agreements, which are is lost.
published as International Standards.

Lien | A legal claim upon goods for the satisfaction of

Invoice | Documentation supplying Customs with the some debt or duty.
type of goods, quantity, price of each type and terms of

sale. The type of invoice required is determined by the Lift-On/Lift-Off (LO-LO) | A container ship onto

shipment’s value.
which containers are lifted by crane.

K
Lighter | An open or covered barge towed by a tugboat

and used mainly in harbors and inland waterways.

Keel | The main center-line structural member, running Lighterage | Refers to the carriage of cargo by lighter

fore and aft along the bottom of a ship, sometimes and the charge assessed therefor.
referred to as the backbone.

Liner | Vessel plying a regular trade/deined route

Key | A term used to describe a single sellable against a published sailing schedule.
guestroom. It may be composed of one or more

structural bays. In order to qualify as a “key,” it must Liner Terms | Freight includes the cost of loading

have at least one bed and one bathroom, consisting of onto and discharging from the vessel.
at least one toilet, sink, and tub or shower.

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