Abbreviations & Definitions
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V.V.  Vice versa 
V/C  Voyage charter 
V/L Ratio  VaporLiquid ratio. A measure of volatility which observes volume of vapor a given volume of liquid forms at various temperatures. Gasoline blenders, who make more use of this property than anyone else, report it as the temperature where a sample reaches, or should reach, a desirable volumeliquid ratio. 
V/M  Very Much 
Vacuum Bottoms  The 1050 or 1100 F+ pitch which remains after a vacuum flasher removes vacuum gasoil from atmospheric bottoms. This thick residue has no direct use unless it meets asphalt specifications. Many refineries need to blend it into heavy fuel oil. The more fortunate can destroy it in a cooler or upgrade it in a visbreaker. 
Vacuum Distillation  A technique for recovering heavy distillates from residue. The process lowers pressure under the level of the atmosphere, thereby reducing the temperature where hydrocarbons boil. This approach gives refiners access to molecules which would crack before they evaporated in a crude distiller. 
Vacuum Flasher  A distillation unit which operates below atmospheric pressure. Refiners use such equipment--also called a vacuum still, vacuum unit, and other names--to recover vacuum gasoil from atmospheric residue. 
Vacuum Gasoil  A product of vacuum distillation with a typical boiling range of 550-700 F to 1050-1150 F. Cat crackers process vacuum gasoil (catfeed). So do a few heavy liquids steam crackers. 
Vacuum Unit  A distillation column run at a pressure below the level of the atmosphere in order to separate atmospheric residue into vacuum gasoil and vacuum bottoms. See VACUUM FLASHER. 
VAL  Value 
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 of B/L and when B/L becomes effective 
VAM  Vinyl Acetate Monomer. A colorless, liquid organic compound, employed in the production of plastics. 
Vanaspati  The term ""vanaspati"" originated in Indo-Pakistan sub-continent. In sanskrit ""Vanas"" means forest and ""Pati"", lord. Hence, literally vanaspati means Lord of the Forest, thus a tree, plant or a vegetable. This emphasises the vegetable origin of vanaspati, as opposed to animal origin of its most familiar counterpart, Ghee, used in Indo- Pakistan sub-continent as an all-purpose cooking medium. In these countries, vanaspati is by legal definition produced from hydrogenated vegetable oils. In India and Pakistan the formulation, production and marketing of vanaspati are controlled by law. 
Vanning  A term for stowing cargo in a container. 
Vapor density  Weight of a volume of pure vapor or gas (with no air present) compared to the weight of an equal volume of dry air at the same temperature and pressure. A vapor density less than 1 (one) indicates that the vapor is lighter than air and will tend to rise. A vapor density greater than 1 (one) indicates that the vapor is heavier than air and may travel along the ground. 
Vapor pressure  Pressure at which a liquid and its vapor are in equilibrium at a given temperature. Liquids with high vapor pressures evaporate rapidly. 
Vapor Pressure  The pressure generated by gases boiled off a liquid in a closed space. Standardized tests of this property, Reis method (RVP) most popular among them, report the observed pressure of liquid and gas in equilibrium at a particular temperature. 
Vapor Pressure/Boiling Point  Tank cleaning: Products with a high vapor pressure (higher than some 50 mbar at 20 C) can be removed from the tank by evaporation. As always during ventilation, special care must be taken to prevent the risk of explosion (flammable products) and emission (toxic vapors). All safety ans environmental precautions must be taken. 
Vapour Destruction Unit (VDU)  An installation, normally located at a terminal, which receives gasoline vapours from cargo tanks and destroys them by thermal oxidation or other means. 
Vapour Recovery System  The practice where vapours in the ullage space of a vessel are returned to the shore via dedicated piping, during the loading or ballasting operation. (VRS = Vapour Recovery System, VECS = Vapour Emission Control System) 
Vapour Recovery Unit (VRU)  An installation, normally located at a terminal, which receives gasoline vapours from cargo tanks and recovers them for subsequent use. 
VAR  Variable or Various 
Variable Cost  Costs that vary directly with the level of activity within a short time. Examples include costs of mov- ing 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. 
VAT  Value Added Tax 
VATG  Vinyl Acetate Toxicology Group (USA) 
VATOS  Valid or value - at time of shipment 
VC  Valuation Clause 
VCF  Volume Correction Factor 
VCM  Vinyl Chloride Monomer. A colorless, flammable gas, used principally in making synthetic resin. Also called chloroethylene. 
VCM  Vessel contingency manual 
VCP  Voyage Charter Party. A charter party whereby the owner of a ship agrees to transport a full shipload of cargo owned or furnished by another person with the ship's crew and master in control of the navigation. 
VECS  Vapour Emission Control System. See Vapour Returns System. 
VEEP  Voluntary Energy Efficiency Programme. A voluntary commitment by the European chemical industry to reduce its specific energy consumption. The Programme was launched in 1992 and aimed to reduce the energy consumption of the industry by 15% between 1990 and 2000. It has then been extended till year 2005 with a target of 20% reduction in specific energy consumption for the period 1990-2005.  
VEF  Vessel Experience Factor 
VEG  Vegetable oil 
Vegetable Oil Tanker  A cargo ship designed for the bulk transport of Vegetable oils in tanks. Tanks will be stainless steel or lined. New vessels will be classified as chemical carriers 
Vegetable Oil Tanker, Inland Waterways  A tanker for the bulk carriage of vegetable oils which is not suitable for trading in open waters. New vessels will be classified as chemical tankers as defined in the International Bulk Chemical Code 
VEGOIL  Vegetable oil 
Vehicles Carrier  A multi deck cargo ship for the carriage of new cars and trucks which are loaded via ramps 
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. 
Vertical axis or yaw axis  Ship Stability: an axis drawn from top to bottom, and perpendicular to the other two axes. A yaw motion is a movement of the nose of the aircraft from side to side. 
Vessel  All ships, tankers and barges used or capable of being used for the transportation of bulk hydrocarbons (including liquefied gases), bulk chemicals and bulk dry cargoes, and all craft involved in marine related operational activity associated with the hig 
Vessel being in free pratique  VESSEL BEING IN FREE PRATIQUE shall mean that the Vessel complies with port health requirements. 
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. 
Vessel Questionnaire  Form used to collect vessel information for the purpose of determining its suitability for a customer''s specific transport needs. 
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. 
Vetting  Process whereby a ship is assessed for acceptance or accreditation by a customer or other interested parties to ensure that the ship meets their safety, quality and environmental requirements. 
VGO  An acronym for vacuum gasoil. Some organizations use the term process gasoil, and the acronym PGO, for this feedstock. 
VGO  Vacuum gas oil 
VHF  Very high frequency (VHF) is the radio frequency range from 30 MHz to 300 MHz. Frequencies immediately below VHF are denoted High frequency (HF), and the next higher frequencies are known as Ultra high frequency (UHF). 
VIN  Vessel Identification Number 
VIP  Very Important Person or Volume incentive program 
VIQ  Vessel Inspection Questionnaire: Inspection format utilised by the OCIMF SIRE system. 
Virgin  A description applied to streams which have not undergone a critical processing step. Most frequently, the term designates straight-run distillation cuts free of conversion refining products, such as virgin naphtha. 
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 emer- gency. In return, during peacetime, the carriers receive preference in the carriage of DOD cargoes. 
Visbreaker  A mild thermal cracker that treats crude unit or vacuum distiller bottoms to make them more fluid. Such units break some of the molecules, which flow poorly in these mixtures. The residue gives up some small molecules cracked off long hydrocarbon chains. The refinery collects these pieces, depending on their boiling range, as cracked gas, cracked naphtha, gasoil, and cat cracker charge. This breaking process contributes most to refining economics by reducing the amount of cutter required to blend still bottoms into saleable fuel oil. 
Visbroken Naphtha  The cracked naphtha produced by a visbreaker. 
Viscosity  A measure of liquids' resistance to flow. The oil industry uses several measurements, including Saybolt, Redwood, Engler, and Kinematic, to report how fast crude or product moves, or should move, at specified temperatures. Since heavier hydrocarbon mixtures flow easier when heated, any meaningful viscosity specification must indicate a test temperature. 
Viscosity  Measure of a liquid's internal resistance to flow. This property is important because it indicates how fast a substance will leak out through holes in containers or tanks. 
Viscosity Breaker  see VISBREAKER 
VIZ  Videlicet (=namely) 
Viz.  Namely. Used in tariffs to specify commodities. 
VLBC  Very Large Bulk Carrier 
VLCC  Very large crude carrier. A tanker between 160,000 and 319,999 deadweight tons, according to AFRA. In common usage, the industry tends to apply the term loosely. A round 150,000 to 300,000 DWT fits casual expectations. 
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 dis- charge of the cargo from the ship to the pier. 
VLOO  Very large ore/oiler (carrier) 
VLPC  Very Large Product Carrier 
VMS  Vessel Management Services, Inc. (subsidiary of CMC) 
VOC  Vessel operating carrier 
VOL  Volume 
Volatile  A liquid from which gas evaporates rapidly. For the purpose of this policy the term volatile is taken to include any naturally volatile product with a "flash point" of less than 60 degrees C or any product being carried at a temperature that is higher tha 
Volatile Matter  Volatile matter is the material in oils and fats which volatises upon drying of the oil or fat at 105°C. It includes moisture, solvent and any low molecular weight compounds present. Volatile matter is determined by drying a weighed quantity of the oil or fat in an oven at 105°C. The loss in weight calculated as a percentage of the weight of oil used constitutes the volatile matter. A high content of volatile matter will accelerate the process of hydrolysis in oils and fats. A maximum level of volatile matter in vegetable oils is usually specified in contracts. 
Volatility  The tendency of crude or products to yield vapor. Volatile materials give off gas at everyday temperatures. Hydrocarbon mixtures, such as motor gasoline, may qualify as volatile because they contain components which evaporate readily. The industry usually measures vapor pressure to determine crude and products' volatility. 
Voluntary Ship  Any ship which is not required by treaty or statute to be equipped with radiotelecommunication equipment. 
Voyage Charter  A contract of carriage in which the charterer engages a shipowner for the use of a ship's cargo space for one voyage. 
VPD  Vessel Pays Dues 
VPQ  Vessel Particulars Questionnaire 
VRP  Vessel Response Plan 
VRPP  Vessel response plan pollution 
VRS  Vapour Recovery System, see below. 
VSL  Vessel 
VTMS  Vessel traffic management system 
VTS  Vessel traffic system 
VY  Void Space (OCIMF acronym)