Waterline length
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Waterline length or length, waterline (abbreviated to LWL) is a sailboat term for the length of a boat at the point where it sits in the water. It excludes the total length of the boat, such as features that are out of the water. Most boats rise outwards at the bow and stern, so a boat maybe quite a bit longer than its waterline length.
This measure is essential in determining a lot of properties of a boat, such as how much water it displaces, where the bow and stern waves are, how much bottom-paint you need, etc.