After taking a detailed look at the Non-Vessel Operating Common Carrier (NVOCC) market, PIERS analysts have found this market sector is anything but common. Announced today, PIERS has issued an exclusive report titled “PIERS NVOCC Analysis” that documents NVOCC growth since 2006. The report is now available for free download.
The report mainly concluded that as U.S. trade with the rest of the world has grown explosively during the past decade, the NVOCC industry has grown even more rapidly. This growth can be attributed to several factors, but at the core, NVOCCs have grown because they facilitate the international transport of relatively small shipment lots that would otherwise be less likely to move across borders in the ocean freight system.
The report includes several graphs and charts featuring key findings and illustrating these positive trends. During the 2006-2010 period, total U.S. inbound liner shipping volumes declined by 2.8 percent per year on an average. However, volumes moving under a NVOCC flag increased by 4.2 percent per year from 2006 to 2010, as shown in Figure 1.
Figure 1: Indexed Inbound Trade Growth Total Volume Versus NVO Volume
NVOCCs also outperformed total trade in terms of value. In 2006, NVOCCs captured 28.2 percent of inbound liner shipments by value and 33.5 percent in 2010. Annual average growth of trade in terms of value was 0.6 percent from 2006-2010 compared to a 3.7 percent annual decline for total trade, as shown in Figure 2.
PIERS’ dynamic NVOCC data offers marketing and sales professionals, as well as analysts and other leaders in the industry, unique and customized insight into the performance of the NVOCC market and can be used to determine the underlying factors of its growth as well as its impact on your business.