| V.L.C.C. |
This is a colloquial abbreviation which is used to indicate a very large vessel. Since this is usually a bulk oil carrier the abbreviation is interpreted, generally, as “Very Large Crude Carrier”, though it may be used in practice to indicate a very large cargo carrier or a very large container carrier. |
| Vermin |
The policy may be extended at the insurer’s option to cover the risk of vermin, but it is not, generally, the practice of insurers to cover this risk. |
| Voyage Charterparty |
A contract of hire between a shipowner and a charter, whereby the ship is hired to carry a specified cargo between specified ports or places; the shipowner earning freight based on the goods carried. |
