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Vessel Experience Factor definition

Vessel Experience Factor means the factor calculated as per API MPMS
Vessel Experience Factor or "VEF" means the factor that aims to correct the measurement of the quantity on board due to uncertainties in its tonnage table. It is a compilation of the vessel's TCV measurement history adjusted to the quantity on board before loading (On Board Quantity - OBQ) compared to TCV measurements, measured onshore or measured using calibrated flowmeters. The VEF must be calculated according to the API MPMS 17.9 standard.
Vessel Experience Factor or “VEF” means a factor based on the compilation of the history of the total calculated volume vessel measurements, adjusted for on-board quantity or remaining on board, compared with the total calculated volume shore measurements.

Examples of Vessel Experience Factor in a sentence

  • A smaller percentage however may be relevant, and in this regard reference should be made to the Vessel Experience Factor (VEF).

  • Where no shore measurements are available, the gross quantity of the Product shall be determined, when applicable, by the independent inspector by reference to the Vessel´s loaded figures as adjusted by its Vessel Experience Factor ("VEF") in accordance with VEF Addendum to API MPMS Chapter 17.1.

  • The Contractor shall develop and maintain, for Government use or inspection upon request and make available on board hired equipment, a Vessel Experience Factor (VEF) comparing the history of shore quantity measurement figures against loading and discharging vessel quantity measurement figures.

  • The X Inspector reports on the history of cargo loaded, calculates Vessel Experience Factor on the basis of qualified voyages undertaken by the vessel in the past to calculate difference in actual bill of lading and delivery.

  • Hos 1-3; Is 54; Eph 5:21-33) and, at the same time, as a service to life[214].

  • If the independent inspector determines shore quantities to be inaccurate or not representative of the volume of cargo transferred, quantity shall be based on the volumes as determined from measurements of the Vessel before and after loading and adjusted for the Vessel’s Vessel Experience Factor (“VEF”) determined in accordance with the API standards then in effect.

  • If the independent inspector determines shore quantities to be inaccurate or not representative of the volume of cargo transferred, quantity shall be based on the volumes as determined from measurements of the Vessel before and after the transfer and adjusted for the Vessel’s Vessel Experience Factor (“VEF”) determined in accordance with the API standards then in effect.


More Definitions of Vessel Experience Factor

Vessel Experience Factor or “VEF” means a compilation of the history of the total calculated volume vessel measurement, adjusted for onboard quantity or remaining onboard, to the total calculated volume shore measurements.
Vessel Experience Factor or “VEF” means the factor that aims to correct the measurement of the quantity on board due to uncertainties in its tonnage table. It is a compilation of the vessel's TCV measurement history adjusted to the quantity on board before loading (On Board Quantity

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