Glossary of Shipping Terms

- A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z

V
excess of GHA change from adopted value for 1 hour.

V
variation; vertex.

V.Q.
very quick flashing.

V.Q.(3)
group very quick flashing.

VALIDATED EXPORT
License a document issued by the U.S. government; authorizes the export of commodities for which written authorization is required by law.

VALIDATION AUTHENTICATION
Validation Authentication of B/L and when B/L becomes effective

VALUE FOR CUSTOMS
Value for Customs Purposes Only The U.S. Customs Service defines “value for Customs purposes only” as the value submitted on the entry documentation by the importer which may or may not reflect information from the manufacturer but in no way reflects Customs appraisement of the merchandise.

VANNING
Vanning a term for stowing cargo in a container.

VAR.
var. variation.

VARIABLE COST
Costs that vary directly with the level of activity within a short time. Examples include costs of mov­ing cargo inland on trains or trucks, stevedoring in some ports, and short–term equipment leases. For business analysis, all costs are either defined as variable or fixed. For a business to break even, all fixed costs must be covered. To make a profit, all variable and fixed costs must be recovered plus some extra amount.

VEL
vel velocity.

VENTILATED CONTAINER
a container designed with openings in the side and/or end walls to permit the ingress of outside air when the doors are closed.

VER
Ver vertical.

VESSEL MANIFEST
The international carrier is obligated to make declarations of the ship’s crew and contents at both the port of departure and arrival. The vessel manifest lists various details about each shipment by B/L number. Obviously, the B/L serves as the core source from which the manifest is created.

VHF
very high frequency.

VHSD
very high speed data.

VI
Vi violet.

VIZ.
Viz. Namely. Used in tariffs to specify commodities.

VLCC
very large crude carrier.

VLCC
Very Large Crude Carrier. A tanker of 200,000 to 319,000dwt. It can carry about 2 million barrels of crude oil.

VLF
very low frequency.

VOIDED B/L
Related to Consolidated B/L; those B/L’s absorbed in the combining pro­cess. Different from Canceled B/L.

VOL
vol volcano; volcanic

VESSEL SUPPLIES
Vessel Supplies for Immediate Exportation (VSIE) Allows equipment and supplies arriving at one port to be loaded on a vessel, aircraft, etc., for its ex­clusive use and to be exported from the same port.

VISA
Voluntary Intermodal Sealift Agreement. Provides the U.S. defense community with “assured access” to commercial intermodal capacity to move sustainment cargoes during time of war or national emer­gency. In return, during peacetime, the carriers receive preference in the carriage of DOD cargoes.

VLFO
Vessel Load Free Out The loading and discharge terms for the cargo to be shipped, as agreed to in the chartger party. The vessel (carrier) pays for the loading of the cargo on board the ship and the receiver pays for the dis­charge of the cargo from the ship to the pier.

VOLUNTARY
Voluntary Ship Any ship which is not required by treaty or statute to be equipped with radio telecommunication equip­ment

VPF
vector product format.

VPF
vector product format.

VRM
variable range marker.

VTS
vessel traffic service.