NVOCCs are becoming shipowners owing to Russia’s booming trade
Because of the high cargo volumes and freight rates on routes to and from Russia, NVOCCs are increasingly becoming shipowners and liner operators. Vistar Shipping, a UAE-based NVOCC, recently acquired a container ship and launched an India-Russia-Turkey liner service. Other NVOCCs, including Yangpu Newnew Shipping and OVP Shipping, have also purchased vessels to serve Russia. The trend of NVOCCs purchasing ships began in 2020 and 2021, when transpacific and Asia-Europe rates reached historical highs.
Source of information – The Loadstar
