Non Vessel Operating Common Carrier
No matter what industry, buying in bulk always brings cost benefits and the same is true for booking space on ships. A shipper with a small cargo, or less than container load, can tap into these savings by booking through a logistics intermediary, or middle man. These non-vessel operating common carriers, as they are known, do not own or operate ships, instead they book space on ships and sell it in smaller quantities, consolidating freight for transport in standard containers. Non-vessel operating common carrier’s (NVOCC) are a form of freight forwarder, taking bookings for LCLs and combining to make a full container that will be accepted for shipment, under one bill of lading. Typically NVOCCs, in addition to customary services provided by freight forwarders, will also offer financial liability for goods due to loss or damage during transport.