Covenant Logistics Group profits tumbled in the first quarter of 2024, with freight rates and volumes taking a toll on earnings as expected.
April 25, 2024Sponsored by:
2016 Essential Financial and Operating Information for the 50 largest logistics companies in the U.S. and Canada
Up Front
Learn how to be included in the 2017 Top 50 Logistics Companies listing.
As online sales continue to soar, so have the expectations of consumers for goods to be delivered quickly and cheaply.
Our April 20 LiveOnWeb webcast looked at how online shopping is creating enormous disruption to freight networks and modes of delivery. Plus we looked back at the new TT Top 50 Logistics Companies rankings. Watch the replay.
Rankings
Logistics 50 | Freight Brokerage | Dry Storage Warehousing | Refrigerated Warehousing | Dedicated | Ocean Freight | Airfreight
Top Ocean Freight Forwarders
| Rank | Company | Headquarters | Ocean Containers |
|---|---|---|---|
| 1 | Kuehne + Nagel | Switzerland | 3,820,000 |
| 2 | DHL Supply Chain & Global Forwarding | Germany | 2,945,000 |
| 3 | Sinotrans Ltd. | China | 2,790,400 |
| 4 | DB Schenker | Germany | 1,891,000 |
| 5 | Panalpina Inc. | Switzerland | 1,593,900 |
| 6 | Expeditors International of Washington | United States | 1,043,880 |
| 7 | Hellmann Worldwide Logistics | Germany | 888,284 |
| 8 | DSV Air & Sea Ltd. | Denmark | 855,319 |
| 9 | Nippon Express | Japan | 855,002 |
| 10 | Bollore Logistics | France | 835,000 |
| 11 | Kerry Logistics | Hong Kong | 785,600 |
| 12 | Damco/Maersk Logistics | The Netherlands | 744,000 |
| 13 | Geodis | France | 677,465 |
| 14 | Ceva Logistics | France | 642,370 |
| 15 | UPS Supply Chain Solutions | United States | 615,000 |
| 16 | Logwin AG | Luxembourg | 590,000 |
| 17 | Orient Overseas Container Line Ltd. | Hong Kong | 580,000 |
| 18 | Dachser SE | Germany | 568,500 |
| 19 | Yusen Logistics | Japan | 547,000 |
| 20 | Toll Global Forwarding | Australia | 542,000 |
| 21 | LF Logistics | Hong Kong | 540,000 |
| 22 | Agility Logistics | Kuwait | 513,500 |
| 23 | UTi Worldwide | 512,550 | |
| 24 | Mallory Alexander International Logistics | United States | 500,000 |
| 25 | China Resources Logistics (Group) | Hong Kong | 500,000 |
| 26 | C.H. Robinson Worldwide | United States | 485,000 |
| 27 | Kintetsu World Express | Japan | 396,000 |
| 28 | Hitachi Transport System | Japan | 330,000 |
| 29 | CJ Logistics | South Korea | 312,000 |
| 30 | Chinatrans International Logistics | China | 300,000 |
| 31 | Worldwide Logistics Group | China | 300,000 |
| 32 | Mainfreight Ltd. | New Zealand | 251,685 |
| 33 | Zhejiang Jiulong International Logistics | China | 250,000 |
| 34 | Sankyu Inc. | Japan | 247,117 |
| 35 | BDP International | United States | 212,000 |
| 36 | Hercules Logistics Pvt. Ltd. | India | 210,000 |
| 37 | Cargo Services Far East | Hong Kong | 200,000 |
| 38 | Dimerco Express Group | Taiwan | 175,000 |
| 39 | CWT Pte. Ltd. | Singapore | 170,000 |
| 40 | Topocean Group Inc. | United States | 156,000 |
| 41 | MIQ Logistics | United States | 150,000 |
| 42 | De Well Group | China | 150,000 |
| 43 | Long Sail International Logistics | China | 150,000 |
| 44 | NNR Global Logistics | Japan | 140,150 |
| 45 | Integrated Logistics Berhad | Malaysia | 140,000 |
| 46 | Asia Shipping Transportes Internacionais | Brazil | 138,800 |
| 47 | XPO Logistics | United States | 132,000 |
| 48 | APL Logistics | Singapore | 130,000 |
| 49 | Honour Lane Shipping | Hong Kong | 130,000 |
| 50 | Jiangsu Uniwill Logistics Co. | China | 120,000 |
| 51 | Crane Worldwide Logistics | United States | 77,000 |
About the Rankings...
Top 50 Logistics Companies provide logistics services, including freight brokerage, freight forwarding, warehousing and dedicated contract carriage in North America and are ranked on the basis of annual gross revenue. Some sector rankings may have been updated since their print publication. To be included in the Top 50 list, please send contact information to tteditor@ttnews.com. We will contact you via phone or e-mail to get information about your company prior to publication of the next Top 50 list.
Extras
A former Transport Topics editor who worked at Amazon examines the hustle and bustle of the online retailer.
52
On the Bubble
ArcBest Corp.
($177 million), Fort Smith, Ark., provides air and ocean freight forwarding, intermodal and drayage, freight brokerage, supply chain consulting, transportation management and warehousing and distribution.
Visit our new sector pages for top brokerage firms, warehousing firms, dedicated contract carriers, ocean freight forwarders and airfreight forwarders.
If your company appears in the 2016 list, you have a few ways to announce it! Visit our logo library to get web- and print-ready graphics.
Learn more about Transport Topics' Top 50 Logistics Companies Publication.
Find out where the carriers are by regions and by state in North America with our interactive map.
Logistics News
Business, Logistics
Covenant Q1 Profit Slumps 76% on Freight Rate Weakness
Government, Business, Technology, Logistics, Global Freight
Amazon Web Services to Build Data Center in Northern Indiana
NEW CARLISLE, Ind. — Amazon Web Services plans to invest $11 billion to build a data center in northern Indiana that will create at least 1,000 new jobs, state and company officials announced.
April 25, 2024Business, Logistics, Global Freight
Union Pacific’s First-Quarter Profit Creeps Up 1%
OMAHA, Neb. — Union Pacific’s first-quarter profit crept 1% higher as the railroad tightened up on expenses — particularly its fuel bill — even though it delivered slightly less freight.
April 25, 2024Business, Logistics, Breaking News
Tonnage Numbers Hit 13th Month of Declines
Truck tonnage reached 13 consecutive months of year-over-year declines after a slight decrease in March, American Trucking Associations reported April 23.
April 24, 2024Government, Business, Fuel, Logistics
DOT Grant Program Focuses on Commercial Ports
The U.S. Department of Transportation announced grants for ports and supply chain corridors as part of the White House’s strategy for advancing a zero-emission freight landscape.
April 24, 2024Business, Logistics, For-Hire
Forward Air Hires Ex-Ceva Logistics Executive Stewart as CEO
Shawn Stewart is set to join Forward Air as CEO, effective April 28, the carrier said April 23. He also will join the asset-light transportation services group’s board of directors.
April 24, 2024Business, Safety, Logistics
Norfolk Southern Reports Lower Earnings After Settlement
Norfolk Southern’s first-quarter earnings report gave the railroad the opportunity to publicly defend CEO Alan Shaw’s strategy again before investors decide on May 9 whether to back him.
April 24, 2024Business, Equipment, Safety, Logistics
Truck Body Repair Collaborations Help Streamline Planning
Repairing the body on a Class 8 truck is a process of handling moving parts while performing a proper assessment and eventually restoring the unit to a safe, roadworthy state as quickly as possible.
April 23, 2024Business, Safety, Logistics
Baltimore Port to Open Deeper Channel
Officials plan to open a deeper channel for commercial ships to access the Port of Baltimore starting April 25, marking a significant step toward reopening the major maritime shipping hub.
April 23, 2024Business, Logistics, For-Hire
UPS Reports 41% Earnings Drop During Q1
UPS Inc. experienced a 41.3% drop in earnings during the first quarter of 2024, the company reported April 23.
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