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The Collaborative International Dictionary
load water line

Water line \Wa"ter line`\

  1. (Shipbuilding) Any one of certain lines of a vessel, model, or plan, parallel with the surface of the water at various heights from the keel.

    Note: In a half-breadth plan, the water lines are outward curves showing the horizontal form of the ship at their several heights; in a sheer plan, they are projected as straight horizontal lines.

  2. (Naut.) Any one of several lines marked upon the outside of a vessel, corresponding with the surface of the water when she is afloat on an even keel. The lowest line indicates the vessel's proper submergence when not loaded, and is called the light water line; the highest, called the load water line, indicates her proper submergence when loaded.

    Water-line model (Shipbuilding), a model of a vessel formed of boards which are shaped according to the water lines as shown in the plans and laid upon each other to form a solid model.

Wiktionary
load water line

n. load line