The VEF is a factor to account for residual inherent measurement imprecision associated with ships's calibration and residual random measurement variations (both ship and shore). The VEF is a computation of the history of the Total Calculated Volume (TCV) loaded by the vessel adjusted for OBQ or ROB, compared with the TCV of shore measurements, typically a Bill of Lading in order to compute a load port VEF for the vessel. The VEF should always be used by the vessel to assess if the Bill of Lading quantity is reliable. It may also provide an indication of potential shortages on outturn at … [Read more...]