Glossary

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GLOSSARY INDEX

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ABBREVIATION
DEFINITION
  • 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,
  • 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 fort
  • 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 t
  • 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 vanasp
  • 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.
  • 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
  • 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 a
  • 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 
  • 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 an
  • 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 sourc
  • 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 p
  • 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.
  • 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 mixtur
  • 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
  • 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
  • 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)