Calculating a VEF

When calculating Vessel Experience Factor (VEF), only the most recent 20 voyages should be used.

And.

A valid VEF is one that results from at least 5 qualifying voyages.

Vessel Experience Factor

Factor calculated from the ratios of historical Total Calculated Volumes (TCV) of vessel (minus OBQ and ROB) with the corresponding historical Total Calculated Volume (TCV) of shore delivered / received volume.

Notes:

  • OBQ – On board quantity
  • ROB – Remained On Board quantity