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 |
|---|---|---|---|---|---|---|
| 1 | 1 | Amazon.com Inc. | USA | $140,053 | $573,988 | 24.4% |
| 2 | 3 | FedEx Corp. | USA | $93,316 | $93,316 | 100% |
| 3 | 2 | UPS Inc. | USA | $90,958 | $90,958 | 100% |
| 4 | 6 | United States Postal Service | USA | $79,324 | $79,324 | 100% |
| 5 | 4 | DHL Group | Germany | $66,119 | $88,513 | 74.7% |
| 6 | 5 | Maersk | Denmark | $48,905 | $51,049 | 95.8% |
| 7 | 7 | CMA CGM | France | $47,020 | $47,020 | 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% |
| 10 | 9 | Kuehne + Nagel International | Switzerland | $29,659 | $29,659 | 100% |
| 11 | 10 | SF Express | China | $27,182 | $27,182 | 100% |
| 12 | 15 | Deutsche Bahn Group | Germany | $26,735 | $48,876 | 54.7% |
| 13 | 8 | Cosco Shipping Group | China | $24,799 | $24,799 | 100% |
| 14 | 18 | Union Pacific Railroad | USA | $24,119 | $24,119 | 100% |
| 15 | 17 | BNSF Railway | USA | $23,876 | $23,876 | 100% |
| 16 | 14 | DSV A/S | Denmark | $21,884 | $21,884 | 100% |
| 17 | 22 | Indian Railways | India | $19,634 | $31,017 | 63.3% |
| 18 | 13 | Hapag-Lloyd | Germany | $19,400 | $19,400 | 100% |
| 19 | 24 | Geopost | France | $16,976 | $16,976 | 100% |
| 20 | 19 | C.H. Robinson | USA | $16,373 | $17,605 | 93% |
| 21 | 21 | Nippon Express | Japan | $15,935 | $15,935 | 100% |
| 22 | 26 | CSX Corp. | USA | $14,657 | $14,657 | 100% |
| 23 | 16 | Ocean Network Express | Japan | $14,536 | $14,536 | 100% |
| 24 | 25 | Sinotrans | China | $14,376 | $14,376 | 100% |
| 25 | 30 | Yamato Holdings | Japan | $12,870 | $13,066 | 98.5% |
| 26 | 27 | J.B. Hunt Transport Services | USA | $12,830 | $12,830 | 100% |
| 27 | 28 | SNCF Group | France | $12,594 | $45,140 | 27.9% |
| 28 | 31 | Canadian National Railway | Canada | $12,459 | $12,459 | 100% |
| 29 | 32 | Norfolk Southern | USA | $12,156 | $12,156 | 100% |
| 30 | 35 | SG Holdings | Japan | $9,689 | $10,210 | 94.9% |
| 31 | 23 | Expeditors International | USA | $9,300 | $9,300 | 100% |
| 32 | - | Canadian Pacific Kansas City | Canada | $9,298 | $9,298 | 100% |
| 33 | 37 | CJ Logistics | South Korea | $9,006 | $9,006 | 100% |
| 34 | 20 | Evergreen Marine Corp. | Taiwan | $8,499 | $8,881 | 95.7% |
| 35 | 34 | XPO | USA | $7,744 | $7,744 | 100% |
| 36 | 40 | Dachser Group | Germany | $7,682 | $7,682 | 100% |
| 37 | 47 | Rhenus Group | Germany | $7,644 | $8,115 | 94.2% |
| 38 | 46 | Kintetsu World Express | Japan | $7,515 | $7,515 | 100% |
| 39 | 44 | Knight-Swift Transportation | USA | $7,142 | $7,142 | 100% |
| 40 | 48 | GLS Group | The Netherlands | $6,693 | $6,693 | 100% |
| 41 | - | Ryder System | USA | $6,660 | $11,783 | 56.5% |
| 42 | 29 | HMM Co. | South Korea | $6,429 | $6,429 | 100% |
| 43 | 45 | TFI International | Canada | $6,417 | $6,417 | 100% |
| 44 | 36 | Kerry Logistics | Hong Kong | $6,055 | $6,055 | 100% |
| 45 | 50 | Old Dominion Freight Line | USA | $5,866 | $5,866 | 100% |
| 46 | 41 | Toll Group | Australia | $5,600 | $5,600 | 100% |
| 47 | 49 | Schneider | USA | $5,499 | $5,499 | 100% |
| 48 | 43 | Landstar System | USA | $5,303 | $5,303 | 100% |
| 49 | 33 | ZIM Integrated Shipping Services | Israel | $5,162 | $5,162 | 100% |
| 50 | - | Estes Express Lines | USA | $5,074 | $5,074 | 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.
Hapag-Lloyd Warns of Further Earnings Decline in 2024
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February 27, 2024Port of Baltimore Hit Cargo Record Last Year
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February 26, 2024Investors Flee Tumbling EV Upstarts
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February 26, 2024Southwest Airlines Ground Workers Reach Deal for Pay Bump
Southwest Airlines has reached a contract with its ramp, operations, provisioning and freight agents that’ll give workers an average pay increase of over 18%.
February 23, 2024Shipping Giant CMA CGM Posts Loss as Red Sea Conflict Rages
CMA CGM SA posted its first quarterly loss in four years as the shipping industry struggles with the conflict in the Red Sea and the specter of overcapacity.
February 23, 2024Port of Mobile to Build Container Facility in North Alabama
The Alabama Port Authority and CSX Transportation announced that Decatur, Ala., will be home to a new intermodal container transfer facility to connect north Alabama to the Port of Mobile.
February 8, 2024Maersk Warns of Slowdown Once Freight Boost Fades
A.P. Moller-Maersk A/S shares plunged after the company said it expects renewed gloom in the industry this year when the current boost to freight rates from the Red Sea conflict evaporates.
February 8, 2024Cincinnati Airport Deploys Autonomous Baggage Handling EVs
Cincinnati/Northern Kentucky International Airport is using devices known as Auto-DollyTugs, electric autonomous vehicles complete with “robotic arms,” to handle baggage and cargo.
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