Revenues declined in 2023 amid an international trade slump, geopolitical conflicts and economic uncertainty.
E-commerce growth and constraints on ocean shipping have fueled strong demand for airfreight this year.
Get a continent-by-continent and country- by-country look at where the Top 50 Global Freight Companies are based.
| Rank This Year | Rank Last Year | Company | Headquarters | Freight Revenue (Millions) | Total Revenue (Millions) | Freight Revenue Share |
|---|---|---|---|---|---|---|
| 3 | 2 | UPS Inc. | USA | $90,958 | $90,958 | 100% |
| 2 | 3 | FedEx Corp. | USA | $93,316 | $93,316 | 100% |
| 26 | 27 | J.B. Hunt Transport Services | USA | $12,830 | $12,830 | 100% |
| 47 | 49 | Schneider | USA | $5,499 | $5,499 | 100% |
| 43 | 45 | TFI International | Canada | $6,417 | $6,417 | 100% |
| 48 | 43 | Landstar System | USA | $5,303 | $5,303 | 100% |
| 45 | 50 | Old Dominion Freight Line | USA | $5,866 | $5,866 | 100% |
| 35 | 34 | XPO | USA | $7,744 | $7,744 | 100% |
| 50 | - | Estes Express Lines | USA | $5,074 | $5,074 | 100% |
| 6 | 5 | Maersk | Denmark | $48,905 | $51,049 | 95.8% |
| 15 | 17 | BNSF Railway | USA | $23,876 | $23,876 | 100% |
| 8 | 11 | Mediterranean Shipping Co. | Switzerland | $42,286 | $42,286 | 100% |
| 17 | 22 | Indian Railways | India | $19,634 | $31,017 | 63.3% |
| 7 | 7 | CMA CGM | France | $47,020 | $47,020 | 100% |
| 22 | 26 | CSX Corp. | USA | $14,657 | $14,657 | 100% |
| 28 | 31 | Canadian National Railway | Canada | $12,459 | $12,459 | 100% |
| 11 | 10 | SF Express | China | $27,182 | $27,182 | 100% |
| 34 | 20 | Evergreen Marine Corp. | Taiwan | $8,499 | $8,881 | 95.7% |
| 46 | 41 | Toll Group | Australia | $5,600 | $5,600 | 100% |
| 49 | 33 | ZIM Integrated Shipping Services | Israel | $5,162 | $5,162 | 100% |
| 21 | 21 | Nippon Express | Japan | $15,935 | $15,935 | 100% |
| 41 | - | Ryder System | USA | $6,660 | $11,783 | 56.5% |
| 39 | 44 | Knight-Swift Transportation | USA | $7,142 | $7,142 | 100% |
| 25 | 30 | Yamato Holdings | Japan | $12,870 | $13,066 | 98.5% |
| 30 | 35 | SG Holdings | Japan | $9,689 | $10,210 | 94.9% |
| 13 | 8 | Cosco Shipping Group | China | $24,799 | $24,799 | 100% |
| 9 | 12 | China State Railway Group | China | $35,181 | $178,584 | 19.7% |
| 18 | 13 | Hapag-Lloyd | Germany | $19,400 | $19,400 | 100% |
| 12 | 15 | Deutsche Bahn Group | Germany | $26,735 | $48,876 | 54.7% |
| 29 | 32 | Norfolk Southern | USA | $12,156 | $12,156 | 100% |
| 19 | 24 | Geopost | France | $16,976 | $16,976 | 100% |
| 1 | 1 | Amazon.com Inc. | USA | $140,053 | $573,988 | 24.4% |
| 4 | 6 | United States Postal Service | USA | $79,324 | $79,324 | 100% |
| 10 | 9 | Kuehne + Nagel International | Switzerland | $29,659 | $29,659 | 100% |
| 20 | 19 | C.H. Robinson | USA | $16,373 | $17,605 | 93% |
| 14 | 18 | Union Pacific Railroad | USA | $24,119 | $24,119 | 100% |
| 24 | 25 | Sinotrans | China | $14,376 | $14,376 | 100% |
| 31 | 23 | Expeditors International | USA | $9,300 | $9,300 | 100% |
| 27 | 28 | SNCF Group | France | $12,594 | $45,140 | 27.9% |
| 42 | 29 | HMM Co. | South Korea | $6,429 | $6,429 | 100% |
| 44 | 36 | Kerry Logistics | Hong Kong | $6,055 | $6,055 | 100% |
| 33 | 37 | CJ Logistics | South Korea | $9,006 | $9,006 | 100% |
| 36 | 40 | Dachser Group | Germany | $7,682 | $7,682 | 100% |
| 38 | 46 | Kintetsu World Express | Japan | $7,515 | $7,515 | 100% |
| 5 | 4 | DHL Group | Germany | $66,119 | $88,513 | 74.7% |
| 23 | 16 | Ocean Network Express | Japan | $14,536 | $14,536 | 100% |
| 37 | 47 | Rhenus Group | Germany | $7,644 | $8,115 | 94.2% |
| 40 | 48 | GLS Group | The Netherlands | $6,693 | $6,693 | 100% |
| 16 | 14 | DSV A/S | Denmark | $21,884 | $21,884 | 100% |
| 32 | - | Canadian Pacific Kansas City | Canada | $9,298 | $9,298 | 100% |
Top 50 Global Freight Companies
Revenue from acquired companies only included for period after close of acquisition. All revenue figures have been converted to U.S. dollars based on the average exchange rate in the appropriate calendar year.
Sources: Company reports and SJ Consulting Group Inc. estimates
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Post-COVID normalization and shaky economic conditions led to a difficult year at container ports and airports in 2023.
Learn more about Transport Topics’ Top 50 Global Freight Companies publication.
Maersk CEO Seeks New M&A Deals After Dropping Schenker Bid
A.P. Moller-Maersk A/S is looking for new acquisition targets after recently walking away from what would have been its biggest ever deal, the CEO said.
August 7, 2024Amazon Reports Boost in Quarterly Profit to $13.5 Billion
Amazon reported a boost in its quarterly profits Aug. 1, but the company missed revenue estimates, sending stocks lower in after-hours trading.
August 1, 2024Sluggish Global Economy Weighs on Germany’s DHL in Q2
FRANKFURT — German logistics and delivery giant DHL reported second-quarter net profit of $802 million, a decline of 23.9% from a year ago, as a sluggish global economy dampened demand.
August 1, 2024Maersk Boosts Full-Year Guidance
A.P. Moller-Maersk, a bellwether for global trade, increased its full-year guidance due to higher freight rates caused by supply chain disruptions following attacks in the Red Sea.
August 1, 2024FAA Clears Drone Companies to Operate in Shared Airspace
The FAA has cleared Wing and Zipline to fly their drones simultaneously over the suburbs of Dallas-Fort Worth without visual observers, using technology to keep the drones apart.
July 30, 2024Amazon Deemed Responsible for Hazardous Third-Party Items
Amazon is responsible under federal safety law for hazardous products sold on its platform by third-party sellers and shipped by the company, a U.S. government agency ordered July 30.
July 30, 2024CMA CGM Reports Solid Volumes, Sees Rates Peaking
CMA CGM SA reported a second-quarter jump in cargo volumes and signaled freight rates have probably peaked for now despite bottlenecks at Mediterranean ports.
July 26, 2024Union Pacific Profit Grows 7%
OMAHA, Neb. — Union Pacific delivered 7% growth in its second-quarter profit even though the number of shipments it hauled remained essentially flat.
July 25, 2024UPS Discusses Acquisition of Parcel Carrier in Mexico
The recently announced UPS acquisition of Mexican express delivery company Estafeta takes advantage of a business trend toward nearshoring.
July 24, 2024Amazon Prime Day Drives Online Sales Up 11% to $14.2 Billion
U.S. shoppers spent $14.2 billion online during Amazon.com Inc.’s 48-hour Prime Day sale, up 11% from a year ago and in line with estimates, according to Adobe Inc.
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