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NVOCC (Non-Vessel Operating Common Carrier)

NVOCC (Non-Vessel Operating Common Carrier) is a logistics term that refers to a shipping company that does not own any vessels but operates as a carrier using leased vessels from other shipping lines. NVOCCs act as intermediaries between shippers and vessel operating carriers, providing various services such as booking cargo, consolidating cargo from multiple shippers, and issuing bills of lading. They also handle customs clearance, freight forwarding, and other logistics activities. NVOCCs are important players in global trade as they provide flexibility and cost savings for shippers who do not have enough cargo to fill a full container. They also help reduce shipping costs by negotiating lower rates with vessel operators and consolidating cargo from multiple shippers to maximize container capacity.
Source : ChatGPT
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