The Indian maritime freight business has suffered a huge setback as a result of Covid, and NVOCC
is no exception. As per a recent survey by Kearney, blank sailings, trip cancellations, right-size capacity and declining market demand are the major challenges limiting the growth of NVOCC industry.
Additionally the report also stated, “About 36 percent of respondents cited challenges within their supply chain, with many growing concerned about port congestion. Hundreds of thousands of containers remain stranded around the world given social lockdowns, ports’ limited ability to clear landed boxes, and blank sailings leaving export containers stuck. Shippers are unable to pick up previously shipped containers that have been sitting at the ports due to full or closed warehouses unavailable for import delivery.”
However, it is important to note that, NVOCC segment of India and around the globe are increasingly bringing in new practices to curb this prevalent circumstance. In this article, let’s explore the latest trends that the NVOCC players are bringing in to deal with the current business situation.
Cloud computing and NVOCC
With the advent of numerous vendors in the market, the NVOCC aggregator industry is experiencing a huge difficulty. Small and medium-sized NVOCC aggregators are finding it challenging to stay competitive in the market as a result of the rising number of consolidations and acquisitions. As a result, NVOCC aggregators are increasingly relying on innovative IT solutions to improve the security, efficiency, and dependability of marine operations while lowering operational expenses. As a result, cloud computing is the most recent technology that has been widely available in NVOCC firms.
According to a senior analyst at Technavio for research on transportation and distribution, “Cloud computing assists NVOCC aggregators in optimizing the utilization of information resources. It reduces the cost by helping operators to render services at a comparatively lower price while maintaining the ensured level of quality. Many services that can be provided by cloud computing as the SaaS model for shipping industries are fleet management, documentation management, maintenance management, and reporting the status of ships or fleet.”