Nautical Term: Nonvessel operating common carrier (NVOCC)
Definition of Nonvessel operating common carrier (NVOCC)
A nonvessel operating common carrier (NVOCC) is a cargo consolidator in ocean trades who purchases space from an ocean carrier and subsequently sells it to smaller shippers. The NVOCC issues bills of lading, publishes tariffs, and otherwise conducts itself as an ocean common carrier, except that it does not provide the actual ocean or intermodal service.
For instance, in a single transaction, an NVOCC might buy space from a container ship for 1,000 cubic meters. Subsequently, the NVOCC would sell this space to various smaller shippers, allowing them to transport their goods across the ocean, without having to own or operate their own cargo vessels.
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