Victor

Vessel Experience Factor (VEF)

The quantity of oil cargo loaded aboard tanker is more likely than not differs from the loading/discharging facility. Tanker officers measure the former, and cargo oil surveyor(s) measure(s) the latter. A ratio can be created between the tanker's and the facility's figure and this ratio is known as VEF.

Tanker officer compiles a list of last twenty oil cargo with their respective quantity against the shore figures of the same list. The individual difference between the former and latter in the list is used as a loss control tool to deduce shore measurements accuracy. See American Petroleum Institute (API) Manual of Petroleum Measurement Standards (MPMS) Chapter 17, section 9 for further information.

API MPMS 17.2 (1st edition, November, 2005) at section 3.13 defines VEF as a compilation of the history of the Total Calculated Quantity (TCV) vessel measurements, adjusted for On-Board Quantity (OBQ) or Remaining on Board (ROB), compared with the TCV shore measurements. The information used to calculate a VEF should be based on documents that follow accepted industry standards and practices, such as inspection company reports.