USEFUL TERMS OF CARGO ABBREVITATIONS

a.GROSS OBSERVED VOLUME (GOV)- The total volume of all petroleum liquids and S&W,excluding free water,at observed temperature and pressure.

b.GROSS STANDARD VOLUME (GSV)- The total volume of all petroleum liquids and S&W,excluding free water,corrected by the appropriate temperature correction factor for the observed temperature and API gravity,relative density,or density to standard temperature such as 60F or 15C and also corrected by the applicable pressure correction factor and meter factor.

c.INDICATED VOLUME - The change in meter reading that occurs during a receipt or delivery.

d.NET OBSERVED VOLUME (NOV) - The total volume of all petroleum liquids, excluding S&W and free water,at observed temperature and pressure.

e.NET STANDARD VOLUME (NSV) - The total volume of all petroleum liquids, excluding S&W and free water,corrected by the appropriate temperature correction factor for the observed temperature and API gravity,relative density,or density to a standard temperature such as 60F or 15C and also corrected by the applicable pressure correction factor and meter factor.

f.ON BOARD QUANTITY (OBQ) - The material on board in vessels cargo tanks and pipelines prior to loading.The onboard quantity includes oil,water, oil slops,oil residue,oil/water emulsions,sludge,and sediment lying in the vessel's compartments and may include associated lines and pumps.

g.REMAINING ON BOARD (ROB) - The material remaining in vessel's cargo tanks after discharge.Remaining on boarded includes oil,water,oil slops,oil residue,oil/water emulsions,sludge and sediment lying in the vessel's compartments and may include associated lines and pumps.

h.TOTAL CALCULATED VOLUME (TCV) - The total volume of all petroleum liquids and S&W,corrected by the appropriate temperature correction factor for the observed temperature and API gravity,relative density, or density to a standard temperature such as 60F or 15C also corrected by the applicable pressure factor and meter factor and all free water measured at observed temperature and pressure,(Gross Standard Volume plus free water).

i.TOTAL OBSERVED VOLUME (TOV) -The total measured volume of all petroleum liquids,S&W,and free water at observed temperature and pressure.

WATER CUT - The operation of location the oil/water interface for the purpose of determing the volume of free water in a shore tank or vessel compartment.It is also used to refer to the line of demarcation of the oil/water interface.

WEDGE FORMULA - A mathematical means to approximate the quantity of the small amounts of cargo or liquids onboards prior to loading and after discharge based on cargo compartment dimensions and vessel trim.

AUTOMATIC SAMPLER - A device used to extract a representative sample from the liquid flowing in a pipe.

BALLAST - Water taken on when a vessel is empty or part loaded to increase draft to properly submerge the propeller and maintain stability and trim.

CRUDE OIL WASHING (COW) - Used of a high-pressure jet of the crude oil cargo to disloge or disslov clingage and sediment from the walls,cross members,and lines in the compartments of a vessel during the discharging operation.

DRAFT - The distanse from the water line to the vessel's bottom.

FREE WATER (FW) - The measured volume of water present in container which is not in suspention in the contained liquid at observed temperature.

INERTING (I.G.S.) - The process of displacing the vapor space of a vessel
cargo tank with inert gas (usually exhaust gas) to prevent the formation
of an explosive mixture.

     INNAGE GAUGE - The measurement from the surface of the liquid to the tank
bottom (or datum plate).

     LETTER OF PROTEST - A letter servig as a written record that a particular
action or finding was questioned at the time of occurrence.

     LOAD ON TOP (L-O-T) - The shipboard procedure of collecting water and oil
mixtures,resulting from ballasting and tank cleaning operations (usually
in special slop tank or tanks),and subsequently loading cargo on top of
these mixtures for discharge at the next discharge port.

     LIST/HILL - The leaning or inclination of a vessel expressed in degrees
port or staboard.

     SEDIMENT AND WATER (S&W) - Material coexisting with,yet foreing to,
petroleum liquid that requires separate measurement in a laboratory
using appropriate API/ASTM/(or other) methods.

     SLOPS OIL /water/sediment and emulsions,contained in designated tanks.
The mixture usually results from vessel cleaning and ballasting opera-
tions.

     TRIM - The diferens between forward and aft drafts designating a vessel's
longitudinal position in the water.

     TRIM CORRECTION - The correction made to the liquid volume measured in
a vessel's tank when a vessel is not on an even keel provided that
liquid contents completely cover the tank bottom.

     ULLAGE GAUGE (or outage) - The measurement from the liquid surface to the reference point (gauge point) at top of tank.

     VESSEL EXPERIENCE FACTOR CALCULATION - The sum of the Vessel Total Calcu lated Volume received devided into the sum of the shores Total Calculated Volume loaded for a minimum of five voyages.