Glossary

See Less than Container Load (LCL).

Freight that does not occupy a full trailer. Generally, shipments that are too large for parcel carriers and which occupy less than half a trailer, are considered LTL.

Trucking companies that specialize in transporting LTL freight, using utilizing a network of terminals and hubs.

Document issued by a bank stating a purchaser has established credit, and confirming payment for goods will be made upon presentation of certain documents.

An investment strategy of using borrowed money to increase the potential return of an investment. Principle of something small used to gain greater impact.

The accumulated costs incurred by a product from the initial product conceptualization and development to withdrawal from the marketplace and final disposition.

See Last In First Out (LIFO).

A method of loading and unloading cargo from an ocean vessel using a crane. Also, the name of the vessels that use this method of loading and unloading cargo.

A barge-type vessel, typically with it own propulsion system, used to carry cargo between shore and cargo ship. A lighter is used for a short-haul movements.

The cost of loading or unloading cargo on a vessel by using barges.

In logistics, areas companies associate with daily operations such as traffic management, inventory control, order processing, warehousing, and packaging.

In trucking, a shipment leg that moves more than 100 to 150 miles in length. In marine, a vessel's route covering the greatest distance, usually across an ocean.

A single detailed record on an order or invoice. Also, a specific and unique identifier assigned to a product by the responsible enterprise.

Water carriers, usually international, that offer fixed routes on published schedules.

In logistics, a transportation method used to connect nodes (plants, warehouses, etc.). Can be a simple truck or train or a complex system of interconnected modes.

Computer systems owned and managed by independent organizations conneted in a manner to allow direct updates to be made to one system by another.

In logistics, when the equipment operator stays with the trailer or boxcar while it is being loaded or unloaded.

The actual, real-time, location of a vessel or last updated position. See AIS Technology which is a primary method of tracking vessels.

See Lead Logistics Provider (LLP).

Vessel that transports Liquified Natural Gas (LNG).

A reduction off the regular freight rate that carriers offer to shippers and/or consignees who load and/or unload LTL or Any Quantity shipments.

The port where the cargo is transfered onto the exporting vessel. This is also the port location that is reported on the Shipper’s Export Declaration.

Sending a carrier the detailed shipment information and negotiated pricing (the tender) prior to scheduling the pickup.

An offer from a shipper to transport cargo. Load tender is a term used mainly in the motor industry.

See Letter of Credit (LOC).