What is NVOCC charge?

What is NVOCC charge?

Definition: NVOCC stands for Non Vessel Owning Common Carrier. NVOCC operation comprises of sales, stuffing and transport of the containers to gateway ports. The bill of lading issue and overseas distribution is taken care by the agents of NVOCC.

What does NVOCC mean?

NVOCC stands for “non-vessel operating common carrier.” An NVOCC is an ocean carrier, providing transportation services almost exactly like a steamship line. The main difference is that a steamship line owns vessels and shipping containers, while an NVOCC does not.

How does an NVOCC work?

NVOCCs sell cargo or container space onboard mainline transport vessels, to their customers. They lease or rent this space onboard ships, and sell it to their clients. In most cases, they arrange loading of cargo from the customer facility and the transfer of such loaded cargo to the gateway ports.

Whats the difference between freight forwarder and NVOCC?

An NVOCC is an intermediary between the shipper and the vessel operator and issues their own bills of lading. A freight forwarder is an authorized agent acting on behalf of the shipper.

Why are NVOCCs so popular?

NVOCC’s give you more flexibility with rates. Much of this has to do with the established networks and relationships maintained by NVOCC’s who are often able to get fixed, or low rates on batches of shipments. Utilizing an NVOCC for this purpose can reduce your costs.

How does an NVOCC benefit new exporters?

The NVOCC purchases large blocks of space at a discounted rate from shipping lines and resells them in smaller blocks to other shippers. The NVOCC consolidates and transports shipments under a single bill of lading.

What are NVOCC companies?

Oceanic Star Line (OSL) is a non vessel operating common carrier (NVOCC) offering weekly sailings. With transhipment in Mundra or Jebel Ali, the first leg is ensured by main ocean line carriers, providing top transit times. Own OSL-equipment is provided under OSL negotiable Bill of Lading.

What is the difference between VOCC and NVOCC?

What is the Difference Between a VOCC and an NVOCC? VOCC stands for Vessel Operating Common Carrier, whereas NVOCC stands for Non-Vessel Operating Common Carrier. NVOCCs offer services and responsibilities similar to that of a VOCC. However, an NVOCC does not operate the vessel.

How many NVOCC are there?

6000 registered NVOCCs operating in USA and a large number of them are active in Asia Pacific, Europe, Africa and Middle East regions.

Who is the largest NVOCC?

Top 20 NVOCCs Ranked by US Import Volumes

Can freight forwarder issue bill of lading?

A freight forwarder’s bill of lading is a transport document which is issued by a freight forwarder. It is also known as a house bill of lading.

What is the difference between carrier and forwarder?

A Common Carrier is a person or company that transports goods on regular routes at set rates. A Freight Forwarder is a person or company that organizes shipments for individuals or corporations to get goods from origin to destination; forwarders typically contract with a carrier to move the goods.

What is the difference between NVOCC and OTI?

NVOCC and Freight Forwarders are considered OTI. Freight Forwarder provides expert advice and consultancy services. NVOCC provides carrier service under their bill of lading.

How do I become a NVOCC?

How to Apply for an NVOCC License?

1. Appoint a Qualifying Individual (QI)
2. Fill Out the FMC-18 Form.
3. Submit the Form and Pay the Application Fee.
4. Establish a Presence in the U.S (for non-US-based applicants only)
5. Submit Proof of Financial Responsibility.

What is the difference between a freight forwarder and a 3PL?

The Biggest Difference Is Service A freight forwarder is a specialist focused on moving goods between two locations. A 3PL is a specialist in managing your logistics needs, which often includes moving the same products. Third-party logistics providers typically offer many more services than a freight forwarder.

How exporters or importers are benefited by using the services of NVOCCs?

One of the biggest advantages of using NVOCCs is that they provide an array of transport options for your cargo as these agencies sign agreements with multiple shipping lines. Hence, you get a bouquet of transportation choices and can choose the one that best caters to your needs.

What is NVOCC consolidation?

In practice, NVOCC collect cargo (goods), consolidate and deconsolidate the goods of various clients within the same container. That’s why they are also called consolidators. In brief, they are transport capacity buyers who then sell that capacity to their own clients under their own liability.

What are the types of Bill of Lading?

Types of Bill of Lading

• Clean Bill of Lading.
• Received for Shipment Bill of Lading.
• Through Bill of Lading.
• Claused Bill of Lading.
• Container Bill of Lading.
• House Bill of Lading.
• Master Bill of Lading.
• Charter Party Bill of Lading.