Insulated Tank Container
The frame of a container constructed to hold one or more thermally insulated tanks for liquids.

Interchange
Transfer of a container from one party to another.

Interchange Points
A terminal at which freight in the course of transportation is delivered by one transportation line to another.

Intercoastal
Water service between two coasts; usually refers to water service between a point on the Atlantic and Pacific Coasts.

Intermodal
Used to denote movements of cargo or container between motor, rail or water carriers.

Intermodal Transport
Moving ocean freight containers by various transportation modes. The fact that the containers are of the same size and have common handling characteristics permits them to be transferred from truck to railroad to air carrier to ocean carrier.

International Organization for Standardization (ISO)
ISO is a worldwide federation of national standards bodies from some 130 countries, one from each country. It is a non-governmental organization established in 1947 to promote the development of standardization facilitating international trade. ISO's work results in international agreements which are published as International Standards.

Keel
The main center-line structural member, running fore and aft along the bottom of a ship, sometimes referred to as the backbone.

Knot
A unit of speed. The term "knot" means velocity in nautical miles per hour whether of a vessel or current. One nautical mile is roughly equivalent to 1.15 statute miles or 1.85 kilometers.

L.C.L.
Less than Container Load. Cargo in quantity less than required for the application of a container load rate.

LCL/FCL
See CFS/CY.

LCL/LCL
See CFS/CFS.

Letter of Indemnity
Guarantee from the shipper or consignee to indemnify carrier for costs and/or loss, if any, in order to obtain favorable action by carrier, e.g. sometimes, it is used to allow consignee to take delivery of goods without surrendering B/L which has been delayed or become lost (for straight consignment case).

Lien
A legal claim upon goods for the satisfaction of some debt or duty.

Lift-On/Lift-Off
(LO-LO)
A container ship onto which containers are lifted by crane.

Lighter
An open or covered barge towed by a tugboat and used mainly in harbors and inland waterways.

Lighterage
Refers to the carriage of goods by lighter and the charge assessed therefore.

Line-haul
Transportation from one city to another as differentiated from local switching service.

Liner
Vessel plying a regular trade/defined route against a published sailing schedule.

Liner Terms
Freight includes the cost of loading onto and discharging from the vessel.

Lloyds' Registry
An organization maintained for the surveying and classing of ships so that insurance underwriters and others may know the quality and condition of the vessels offered for insurance or employment.

Load Factor
Percent of loaded containers against total capacity of vessel or allocation.

Locking Bar
Device that secures container doors at top and bottom.

Long Ton
2,240 pounds. (l.t., l.tn.)