What does OTI mean in shipping?
What does OTI mean in shipping?
Ocean Transportation Intermediary
A freight intermediary (also known as an OTI or Ocean Transportation Intermediary) is someone that assists an exporter or an importer to secure the best freight rates possible while providing the quickest routing for their cargoes and also preparing and processing the documents related to these shipments.
Who is the largest NVOCC in the world?
Kuehne + Nagel
Top Ocean Freight Forwarders
| Rank | Company | Headquarters |
|---|---|---|
| Rank 1 | Company Kuehne + Nagel | Headquarters Switzerland |
| Rank 2 | Company Sinotrans Ltd. | Headquarters China |
| Rank 3 | Company DHL Supply Chain & Global Forwarding | Headquarters Germany |
| Rank 4 | Company DSV A/S | Headquarters Denmark |
What is the difference between NVOCC and freight forwarder?
An NVOCC is an intermediary between the shipper and the vessel operator and issues their own bills of lading. A freight forwarder is an authorized agent acting on behalf of the shipper.
How do I verify a freight forwarder?
Check the Broker’s Credentials Online. In order to operate, freight brokers must be licensed and bonded. All freight brokers are regulated by the Federal Motor Carrier Safety Administration (FMCSA). Visit the agency’s website to check whether the broker you are working with has a valid license.
What is the difference between NVOCC and OTI?
NVOCC and Freight Forwarders are considered OTI. Freight Forwarder provides expert advice and consultancy services. NVOCC provides carrier service under their bill of lading.
What’s the difference between MBL and HBL?
House Bill of Lading Vs. Master Bill of Lading. The main difference between the HBL and MBL is that an HBL is issued by an NVOCC (or freight forwarder) and usually lists the actual shipper and consignee, whereas, the MBL is issued by the carrier.
What is the best freight forwarder?
and Freight Forwarding Volumes*
| Rank | Provider | Air (Metric Tons) |
|---|---|---|
| 1 | DHL Supply Chain & Global Forwarding | 1,667,000 |
| 1 | Kuehne + Nagel | 1,433,000 |
| 2 | DB Schenker | 1,094,000 |
| 2 | DSV Panalpina | 1,272,405 |
Who is the biggest freight forwarder?
DHL
DHL is the largest freight forwarder in the world.
What is an OTI bond?
What is an OTI Bond? An Ocean Transportation Intermediary Bond is a surety bond that is required for licensure to operate as an Ocean Freight Forwarder (OFF) or as a Non-Vessel-Operating Common Carrier (NVOCC). This surety bond is also referred to as an FMC-48 Surety Bond and an FMC-69 Surety Bond.
Is DHL a freight forwarder?
DHL Global Forwarding – Global Air, Ocean, Road and Rail Freight Forwarder – United States of America.
Is FedEx a freight forwarder?
FedEx Trade Networks® Air Freight Forwarding Services Door to door to multiple destination delivery addresses in the U.S. *Pickup and delivery available. **Provided by FedEx Trade Networks Global Order Logistics.
How can I get OTI experience?
Generally speaking, this experience must be obtained while working as an employee of an FMC-licensed NVOCC, ocean forwarder or an ocean carrier in the United States. The FMC will require a copy of a corporate document that proves the qualifying individual is a company officer.
