NEWARK, New Jersey, June 22, 2011 /PRNewswire/ --
After taking a detailed look at the Non-Vessel Operating Common Carrier (NVOCC) market, PIERS, The Standard in Trade Intelligence, announced today it 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 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.
"Ultimately, the report provides a wealth of information and highlights the growth of NVOCCs as a major force in the transportation supply chain. NVOCC volume is outpacing general market trends and we anticipate this trend to continue," said PIERS Vice President, Jeff Campbell.
According to the report, 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 2006-2010.
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.
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. Visit http://www.piers.com/transportation for more information on how PIERS can help those in the transportation industry.
PIERS is the most comprehensive database of U.S. waterborne trade activity in the world providing information services to thousands of subscribers globally. Launched more than 35 years ago, PIERS was the first venture in digital global trade intelligence and quickly became the industry standard for accuracy, reliability and insight. Our unique infrastructure and proprietary technology allow us to not only publish import data but also complete coverage of U.S. export transactional data.PIERS is a division of UBM Global Trade, and a sister company of The Journal of Commerce. For more information, visit http://www.PIERS.com, or call 800-952-3839 (+1-973-776-8660).