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NVOCCs' share of Asia imports to the US accelerates
NON-vessel-operating common carriers (NVOCCs) are continuing to gain Asia import share to the US, with import volume surging 15 per cent in the 12 months ending June 30.
The 6.9 million TEU of US imports from Asia handled by NVOCCs represented 45.7 per cent of the total 15 million TEU in imports from Asia, up 4.3 per cent year on year, according to PIERS, a sister product of JOC.com. Volumes beneficial cargo owners (BCOs) contracted with shipping lines directly to carry decreased by 3.3 per cent to 8.2 million TEU, reported IHS Media.
The continuing growth of NVOCC volume at the expense of direct contracting with carriers is largely attributed of the reduction of carrier back office staff and insufficient investment in technology as they struggled against losses in recent years. Many NVOCCs offer shippers value-added services not offered by carriers, such as shipment tracking.
The shift to NVOCCs is also partly due to higher demand for container shipping, with global container volume on track to hit a six-year high this year. When volume grows rapidly, BCOs may require more space than they have contracted for with carriers, prompting them to turn to NVOCCs for booking.
The trans-Pacific carriers most popular with NVOCCs are, in order, Cosco,Hyundai Merchant Marine, Orient Overseas Container Line, Mediterranean Shipping Co, NYK, Evergreen, Maersk, MOL, "K" Line, CMA CGM/APL, andYang Ming.
Cosco recorded the most year-on-year growth in the 12 months ended in June, with NVOCC volume soaring 55.9 per cent to 15.9 million TEU.
The 6.9 million TEU of US imports from Asia handled by NVOCCs represented 45.7 per cent of the total 15 million TEU in imports from Asia, up 4.3 per cent year on year, according to PIERS, a sister product of JOC.com. Volumes beneficial cargo owners (BCOs) contracted with shipping lines directly to carry decreased by 3.3 per cent to 8.2 million TEU, reported IHS Media.
The continuing growth of NVOCC volume at the expense of direct contracting with carriers is largely attributed of the reduction of carrier back office staff and insufficient investment in technology as they struggled against losses in recent years. Many NVOCCs offer shippers value-added services not offered by carriers, such as shipment tracking.
The shift to NVOCCs is also partly due to higher demand for container shipping, with global container volume on track to hit a six-year high this year. When volume grows rapidly, BCOs may require more space than they have contracted for with carriers, prompting them to turn to NVOCCs for booking.
The trans-Pacific carriers most popular with NVOCCs are, in order, Cosco,Hyundai Merchant Marine, Orient Overseas Container Line, Mediterranean Shipping Co, NYK, Evergreen, Maersk, MOL, "K" Line, CMA CGM/APL, andYang Ming.
Cosco recorded the most year-on-year growth in the 12 months ended in June, with NVOCC volume soaring 55.9 per cent to 15.9 million TEU.
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