What is the meaning of NVOCC in shipping?

What is the meaning of NVOCC in shipping?

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 is the difference between a freight forwarder and a carrier?

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.

Is an NVOCC a carrier?

NVOCC stands for “non-vessel operating common carrier.” An NVOCC is an ocean carrier, providing transportation services almost exactly like a steamship line.

What is example of NVOCC?

Some of the top VOCCs around the globe include Maersk, APL, CMA CGM, etc. 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.

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.

What is the difference between actual carrier and NVOCC?

One of the main differences between a NVOCC and Freight Forwarder is that a customer (whether exporter or importer) “appoints” a freight forwarder to “act as their agent” whereas they “employ the services” of a NVOCC as one of their “service providers (not as agent)” in this case, as a carrier, same as they would a …

Is DHL a freight forwarder?

DHL Global Forwarding – Global Air, Ocean, Road and Rail Freight Forwarder – United States of America.

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 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.

Can NVOCC is freight forwarder?

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.

What do NVOCCs do?

NVOCC stands for Non-Vessel Operating Common Carrier. As the name suggests, an NVOCC is an ocean carrier that transports your cargo without operating any vessels. Now, how do they do that without owning any ships? NVOCC actually buys space from vessel-operating common carriers (VOCC) and resells it to shippers.

Who is the largest NVOCC?

Top 20 NVOCCs Ranked by US Import Volumes

Is DHL an NVOCC?

This is the NVOCC brand name of DHL Global Forwarding. NVOCC stands for Non Vessel Operating Common Carrier. We buy and sell capacity aboard cargo vessels owned or chartered by shipping lines. DHL Global Forwarding signs ‘as agent’ of Danmar Lines.

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 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.

How do you become an 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 does HBL stand for in logistics?

House Bill of Lading Vs. Master Bill of Lading. The main difference between the HBL and MBL is that an HBL is issued by an NVOCC (or freight forwarder) and usually lists the actual shipper and consignee, whereas, the MBL is issued by the carrier.

What does FMC stand for in shipping?

About the Federal Maritime Commission. The Federal Maritime Commission (FMC) is the independent federal agency responsible for regulating the U.S. international ocean transportation system for the benefit of U.S. exporters, importers, and the U.S. consumer.