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Glossary of terms for phrases beginning with “V”

Vendor


External supplier of merchandise.

 


Vessel Sharing Agreement (VSA)


A term agreement between two or more carriers in which a number of container positions ("slots") equal in space are reserved on particular vessels for each of the participants. The number of slots (space) on different vessels on the same route can vary by vessel type and direction but may also be expressed as each party's capacity use of the vessels employed jointly.

 


Vessel Ton


A unit of interior capacity of ships equal to 100 cubic feet or 2,832 cubic metres; register ton.

 


Volume Rate


Rate applicable in connection with a specified volume (weight) of freight.