The most common and most likely answer to this crossword clue is the 4 plus 4 letter word SLOP BOWL
S
L
O
P
B
O
W
L
Buddy explains!
The straight part
We know that "waste vessel" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case waste vessel = slop bowl.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.