V

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.

Vanning

A term for stowing cargo in a container.

Valuation Charges

Transportation charges assessed shippers who declare a value of goods higher than the value of carriers' limits of liability.

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.

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.

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.

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.

Viz.

Namely. Used in tariffs to specify commodities.

VLCC

Very Large Crude Carriers: Tankers between 200,000 and 300,000 dwt.

Voyage Charter

A contract whereby the shipowner places the vessel at the disposal of the charterer for one or more voyages, the shipowner being responsible for the operation of the vessel.