Sep 27

JOC Rankings: Disruption boosts NVOs to majority share of booming trans-Pacific

US importers have increasingly turned to non-vessel-operating common carriers (NVOs) to secure capacity during the last 10 months amid widespread vessel and equipment shortages stemming from a massive spike in consumer demand. NVOs controlled 53.1 percent (nearly 6.8 million TEU) of total eastbound trans-Pacific volume through the first eight months of 2021, up from the 46.9 percent of imports from Asia booked through NVOs during the same period in 2020 and 43.9 percent in 2019, according to data from PIERS, a sister company of within IHS Markit. The trend is illuminated even more by the delta in volume gains from top 10 NVOs versus those outside the top 10. The top 10 NVOs grew their collective volume 31.9 percent through August this year, while those outside of the top 10 grew 50.2 percent. More Info :