NVOCC
NVOCC (Non-Vessel Operating Common Carriers)
What is an NVOCC?
NVOCC stands for Non-Vessel Operating Common Carrier. Its role involves contracting ocean freight cargo and shipping lines in order to move shipments from one point to another. It establishes an agreement with carriers for a fixed number of slots on their vessels each year in exchange for low rates.
NVOCCs form the largest trade maker in the container shipping industry. It issues Bill of Ladings, assumes liabilities and responsibilities for the shipments, and may also own and operate its own or leased containers.
Different between NVOCCs and Freight Forwarders
Why the NVOCC should be FMC-licensed ?
Given the sheer amount of NVOCCs in the world, choosing one right for you may prove a daunting task. How do you know which is the best one for you? The first and foremost step of such a process would be to ensure that your NVOCC is licensed by the Federal Maritime Commission (FMC).