What is VEF (Vessel Experience

Factor) ?

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 discharge
port(s). It is essential that the ship’s loaded quantity is correctly determined from
measurements made prior to and on completion of loading. It is also essential that the
ship’s figure and the Bill of Lading quantity are determined by consistent calculation
procedures, with particular reference to the applied VCF. VEF can facilitate more
accurate determination of vessel quantity for custody transfers also when necessary
and where warranted.

Following factors must be taken into account when calculating VEF:

 VEF is not applicable to individual tank volumes

 Quantities shall be expressed in either barrels or cubic meters at standard
temperatures, but shall not be combined. DO NOT USE QUANTITIES IN MT OR
LONG TONS.
 VEF used to calculate Ship’s quantity at load port MUST be the VEF which is
used to calculate the vessel’s quantity at Discharge port. A different VEF must not
be calculated for the same voyage.
  A minimum of five qualifying voyages are needed to calculate VEF, however, a
larger number is always desirable. DSM Form for VEF uses last 20 qualifying
voyages which is usually the accepted industry standard.
 A ‘Qualifying Voyage’ is a voyage that is within + or – 0.0030 of the average ratio
of all voyages (Pls refer to Charter Party Terms) listed. (as an example, if the
average of all voyages listed is 1.00105, all voyages within the range from
0.99805 through 1.00405 would qualify ).

Following voyages are excluded:

1. All voyages prior to any structural modification which affected the vessel’s cargo
carrying capacity.
2. Load or discharge data where shore measurements were not available or Bill of
Lading figures were based on Ship’s measurements.
3. All voyages involving ship-to-ship lightering operations.
4. The first voyage after dry docking.
5. Voyages where the vessel has loaded several parcels or Voyages where vessel
only part loaded to less than 75% capacity.

Get free VEF excel sheet below in downloads section for training purposes.

An erroneously calculated VEF results in inflating or deflating cargo quantity

loaded on board the vessel and giving cargo interests an inaccurate
representation of “vessel loaded” quantity.