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Why your NVOCC should be FMC-licensed
Why your NVOCC should be FMC-licensed

Choosing an NVOCC: Ensuring it is 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).

What is an NVOCC?
Let’s begin with the basics. 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.

NVOCCs vs Freight Forwarders
NVOCCs and Freight Forwarders are OTIs (Ocean Transportation Intermediaries). But they’re not synonymous. An NVOCC can issue its own Bill of Ladings whereas a freight forwarder cannot; they can only work based on a carrier (or NVO) Bill of Lading.

Read More: http://www.hellenicshippingnews.com/why-your-nvocc-should-be-fmc-licensed/
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