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What is a non-vessel operating common carrier (NVOCC) bank in freight forwarding?

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N / Non-Vessel Operating Common carrier (NVOCC)

Some ocean-freight carriers own no ships or other transportation assets (with the possible exception of shipping containers). Instead, they buy large blocks of capacity from vessel-owning carriers and sell it in smaller lots to shippers. The majority of NVOCCs are freight forwarders.

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