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| Term | Meaning |
| Valuation Charges | Transportation charges to shippers who declare a value of goods higher than the value of the carriers' limits of liability. |
| Variable cost | Costs that vary directly with the level of activity within a short time. Examples include costs of moving cargo inland on trains or trucks, stevedoring in some ports, and short-term equipment leases. For business analysis, all costs are either defined as variable or fixed. For a business to break even, all fixed costs must be covered. To make a profit, all variable and fixed costs must be recovered plus some extra amount. |
| Vessel Manifest | The international carrier is obligated to make declarations of the ship's crew and contents at both the port of departure and arrival. The vessel manifest lists various details about each shipment by B/L number. Obviously, the B/L serves as the core source from which the manifest is created. |
| Voyage Charter | A contract whereby the shipowner places the vessel at the disposal of the charterer for one or more voyages, the shipowner being responsible for the operation of the vessel. |