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.
Deutsche Bahn Approves Logistics Unit Sale to DSV
DSV won approval to buy Deutsche Bahn’s logistics unit for $15.8 billion, overcoming resistance from German labor unions and late attempts by a rival bidder to derail the deal.
October 3, 2024DB Schenker Sale Faces Decisive Vote
Deutsche Bahn AG’s planned 4.3 billion-euro ($15.8 billion) sale of its logistics arm is facing a decisive vote Oct. 2.
October 2, 2024CVC’s Last-Attempt DB Schenker Bids Called ‘Inferior’
Deutsche Bahn said bids submitted by private equity fund CVC Capital Partners remain “inferior” to the winner’s offer, the latest twist in the $16 billion battle for its logistics unit.
September 30, 2024East and Gulf Coast Ports Prepare to Close
Key industry and government officials are urging U.S. dockworkers and their employers to avoid a strike at East and Gulf Coast ports, though many facilities are bracing for a shutdown.
September 30, 2024Cargo Carriers Fear Port Strike Will Paralyze Half of Trade
The world’s top container carrier is urging customers to move U.S. cargo through East and Gulf Coast ports before the planned start on Oct. 1 of a dockworkers strike.
September 27, 2024Online Holiday Spending Projected to Rise 8.4%
Steep discounts and easing inflation will compel U.S. shoppers to spend $240.8 billion online in November and December, up 8.4% from last year’s holidays and the biggest increase since 2021.
September 25, 2024Maersk Adds Port Disruption Surcharge as Strike Looms
AP Moller-Maersk added a local port disruption surcharge for all cargo moving to and from the East Coast and Gulf Coast terminals, to cover higher costs from “potential labor disruptions.”
September 24, 2024DHL Lays Out Plan to Boost Revenue 50% by 2030
DHL Group, the trading name of Deutsche Post AG, unveiled a new strategy aimed at increasing revenue by 50% by 2030 through various growth initiatives.
September 23, 2024FedEx Cuts Forecast After Tough Quarter for Deliveries
FedEx Corp. cut the top end of its full-year profit outlook and reported quarterly earnings below expectations on softer demand for package deliveries.
September 19, 2024Amazon Launches AI Assistant to Help Online Merchants
Amazon.com Inc. is launching an artificially intelligent assistant designed to help online merchants manage their businesses.
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