Glossary: L

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Liquefied Natural Gas (LNG)

Liquefied Natural Gas (LNG) is a natural gas that has been converted into its liquid form. To do this, the gas is cooled to approximately -162°C, at which point it becomes a clear...

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Lift On/Lift Off (LO/LO)

Lift On/Lift Off (LO/LO) refers to a charge for lifting a container on and off a vessel or train....

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Letter of Indemnity (LOI)

A letter of indemnity (LOI) is a contractual document between two parties, which guarantees certain provisions will be met....

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Letter of Credit

A letter of credit (L/C) is a in which the terms of documentary credit transactions are set out....

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Less Than Truck Load (LTL)

Less that Truck Load (LTL) is a carrier freight from several customers in a single truckload. This consolidation enables importers to ship smaller amounts therefore avoid excess ca...

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Less than Container Load (LCL)

When a shipment is too small to fit into a container, it is operating at a less than container load (LCL). The carrier will group the shipment at the CFS depot with other compatibl...

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