V

Valuation Charge
Transport charges for certain goods, based on the value declared for the carriage of such goods (aircargo).

Value Added Tax
Abbreviation: VAT
A form of indirect sales tax paid on products and services at each stage of production or distribution, based on the value added at that stage and included in the cost to the ultimate customer.

Value Surcharge
A surcharge for the carriage of cargo having a value in excess of a specified amount per kilogram (aircargo).

Vanning
See Stuffing.

VAT
See Value Added Tax.

Vendee
Buyer.

Vendor
Seller.

Ventilated/Coffee
Identical to the GP, except for the inclusion of full length ventilation galleries sited along the top and bottom side rails, and thus ideal for the carriage of coffee, as condesation is prevented from accumulating. 20' only

Very Large Crude Carrier
Abbreviation: VLCC
A vessel designed for the carriage of liquid cargo in bulk with a loading capacity from 50.000 till 250.000 DWT.

Vessel

1. A floating structure designed for the transport of cargo and/or passengers.
   Synonym: Ship.
2. Boiler, drum.
   

Volatility Allowance
The largest difference in container availability taking into account past peaks in net demand after having removed the trend in container demand during the repositioning trade-off period.

Volume
Size or measure of anything in three dimensions.

Volume Charge
A charge for carriage of goods based on their volume (aircargo).

Voucher
A receipt, entry or other document which establish the accounts.

Voyage
A journey by sea from one port or country to another one or, in case of a round trip, to the same port.
Synonym: Trip.

Voyage Charter
A contract under which the shipowner agrees to carry an agreed quantity of cargo from a specified port or ports to another port or ports for a remuneration called freight, which is calculated according to the quantity of cargo loaded, or sometimes at a lumpsum freight.

Voyage Number
Reference number assigned by the carrier or his agent to the voyage of the vessel.