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 |
|---|---|---|---|---|---|---|
| 50 | - | Estes Express Lines | USA | $5,074 | $5,074 | 100% |
| 41 | - | Ryder System | USA | $6,660 | $11,783 | 56.5% |
| 32 | - | Canadian Pacific Kansas City | Canada | $9,298 | $9,298 | 100% |
| 1 | 1 | Amazon.com Inc. | USA | $140,053 | $573,988 | 24.4% |
| 3 | 2 | UPS Inc. | USA | $90,958 | $90,958 | 100% |
| 2 | 3 | FedEx Corp. | USA | $93,316 | $93,316 | 100% |
| 5 | 4 | DHL Group | Germany | $66,119 | $88,513 | 74.7% |
| 6 | 5 | Maersk | Denmark | $48,905 | $51,049 | 95.8% |
| 4 | 6 | United States Postal Service | USA | $79,324 | $79,324 | 100% |
| 7 | 7 | CMA CGM | France | $47,020 | $47,020 | 100% |
| 13 | 8 | Cosco Shipping Group | China | $24,799 | $24,799 | 100% |
| 10 | 9 | Kuehne + Nagel International | Switzerland | $29,659 | $29,659 | 100% |
| 11 | 10 | SF Express | China | $27,182 | $27,182 | 100% |
| 8 | 11 | Mediterranean Shipping Co. | Switzerland | $42,286 | $42,286 | 100% |
| 9 | 12 | China State Railway Group | China | $35,181 | $178,584 | 19.7% |
| 18 | 13 | Hapag-Lloyd | Germany | $19,400 | $19,400 | 100% |
| 16 | 14 | DSV A/S | Denmark | $21,884 | $21,884 | 100% |
| 12 | 15 | Deutsche Bahn Group | Germany | $26,735 | $48,876 | 54.7% |
| 23 | 16 | Ocean Network Express | Japan | $14,536 | $14,536 | 100% |
| 15 | 17 | BNSF Railway | USA | $23,876 | $23,876 | 100% |
| 14 | 18 | Union Pacific Railroad | USA | $24,119 | $24,119 | 100% |
| 20 | 19 | C.H. Robinson | USA | $16,373 | $17,605 | 93% |
| 34 | 20 | Evergreen Marine Corp. | Taiwan | $8,499 | $8,881 | 95.7% |
| 21 | 21 | Nippon Express | Japan | $15,935 | $15,935 | 100% |
| 17 | 22 | Indian Railways | India | $19,634 | $31,017 | 63.3% |
| 31 | 23 | Expeditors International | USA | $9,300 | $9,300 | 100% |
| 19 | 24 | Geopost | France | $16,976 | $16,976 | 100% |
| 24 | 25 | Sinotrans | China | $14,376 | $14,376 | 100% |
| 22 | 26 | CSX Corp. | USA | $14,657 | $14,657 | 100% |
| 26 | 27 | J.B. Hunt Transport Services | USA | $12,830 | $12,830 | 100% |
| 27 | 28 | SNCF Group | France | $12,594 | $45,140 | 27.9% |
| 42 | 29 | HMM Co. | South Korea | $6,429 | $6,429 | 100% |
| 25 | 30 | Yamato Holdings | Japan | $12,870 | $13,066 | 98.5% |
| 28 | 31 | Canadian National Railway | Canada | $12,459 | $12,459 | 100% |
| 29 | 32 | Norfolk Southern | USA | $12,156 | $12,156 | 100% |
| 49 | 33 | ZIM Integrated Shipping Services | Israel | $5,162 | $5,162 | 100% |
| 35 | 34 | XPO | USA | $7,744 | $7,744 | 100% |
| 30 | 35 | SG Holdings | Japan | $9,689 | $10,210 | 94.9% |
| 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% |
| 46 | 41 | Toll Group | Australia | $5,600 | $5,600 | 100% |
| 48 | 43 | Landstar System | USA | $5,303 | $5,303 | 100% |
| 39 | 44 | Knight-Swift Transportation | USA | $7,142 | $7,142 | 100% |
| 43 | 45 | TFI International | Canada | $6,417 | $6,417 | 100% |
| 38 | 46 | Kintetsu World Express | Japan | $7,515 | $7,515 | 100% |
| 37 | 47 | Rhenus Group | Germany | $7,644 | $8,115 | 94.2% |
| 40 | 48 | GLS Group | The Netherlands | $6,693 | $6,693 | 100% |
| 47 | 49 | Schneider | USA | $5,499 | $5,499 | 100% |
| 45 | 50 | Old Dominion Freight Line | USA | $5,866 | $5,866 | 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.
DSV to Kick Off Bond Sale Early to Finance DB Schenker Deal
Danish transport company DSV will start a large bond sale as soon as this year to help pay for its $15.4 billion takeover of DB Schenker ahead of an expected completion in 2025.
October 23, 2024Walmart Challenges Amazon With Prescription Delivery
Walmart Inc. will start delivering prescriptions to U.S. homes in as little as 30 minutes, a move that’s intended to grab a bigger slice of online spending and compete against Amazon.com Inc.
October 22, 2024Consumers Switch to Slower Shipping, Squeezing UPS, FedEx
More people are switching to slower delivery options to save money, and profits at FedEx Corp. and UPS Inc. are getting squeezed.
October 17, 2024Amazon, Google Make Dueling Nuclear Investments
Amazon on Oct. 16 said it was investing in small nuclear reactors, coming just two days after a similar announcement by Google, as both tech giants seek new sources of carbon-free electricity.
October 16, 2024Amazon Unveils AI Tool to Help Drivers Find Packages Faster
Amazon.com Inc. unveiled a new artificial intelligence tool designed to help drivers locate packages in cluttered vans.
October 9, 2024Maersk, Hapag-Lloyd Expect Red Sea to Be Unsafe Into 2025
A.P. Moller Maersk and Hapag-Lloyd plan to begin their partnership sailing south of Africa, indicating they expect the Red Sea to remain unsafe well into 2025.
October 9, 2024Charging Developer Terawatt Opens First Facility for Fleets
Terawatt Infrastructure’s truck charging ambitions took a step forward with the opening of its first full-build light-duty fleet facility.
October 9, 2024Maersk Expects IMO to Approve Global CO2 Levy in 2025
Shipping giant A.P. Moller-Maersk A/S expects the industry’s global regulator next year to approve a charge on vessels’ greenhouse gas emissions.
October 4, 2024Global Shipping Stocks Sink After Dockworkers Pause Strike
Shipping stocks slumped worldwide after a strike by U.S. dockworkers was suspended after only three days, spurring predictions of a decline in the price of transporting goods by sea.
October 4, 2024DSV Starts $5.5 Billion Share Sale for DB Schenker Takeover
DSV received commitments from investors for more than half of a $5.5 billion sale of new shares as the Danish freight-forwarding company finances its takeover of DB Schenker.
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