ABBREVIATIONS I - L

ICW
Intercoastal Waterway : bays, rivers, and canals along the coasts (such as the Atlantic and Gulf of Mexico coasts), connected so that vessels may travel without going into the sea

IMDG
International Maritime Dangerous Goods Code

IMO
International Maritime Organization:

IN /OR OVER
Goods carried below and/or on deck

IND
Indication

INTERMODAL
Carriage of a commodity by different modes of transport, i.e. sea, road, rail and air within a single journey

INCOTERMS
(Refer to comments in covering statement on front page A-F)

ITF
International Transport Workers Federation (Trade Unions). Complies on crewing

ITINERARY
Route.Schedule

IU
If Used

IUHTAUTC
If Used, Half Time Actually To Count

IWL
Institute Warranty Limits

JOINT SURVEY
An Inspection carried out by a surveyor on behalf of two parties with the cost generally being borne by both. Generally, cargo surveys often fall under this category, but surveys are carried out for a myriad of reasons, including but not limited to on and off-hire, vettings and damage surveys.
KEEL
The centreline of a ship running fore and aft; the backbone of a vessel

KNOT
A measurement of speed equal to one nautical mile (6,076 feet) per hour. One knot equals one nautical mile (6,076 feet or 1,852 meters) per hour.

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. In a voyage charter party, lay days are agreed to between the parties during which the shipowner will make and keep the vessel available to the voyage charterer for loading or discharging without payment additional to the freight.

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

LUMP SUM
An agreed sum of money for freight, irrespective of the amount of cargo carried.
LW
Low Water

LYCN
Laycan (Layday Cancelling Date)