Up Front
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.
Rankings
| 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
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
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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.
Global Freight News
Airlines Cut Flights, With More Cancellations Into Next Week
Airlines across the U.S. have canceled flights as the longest government shutdown in history snarls up air travel and forces thousands of passengers to change their travel plans.
November 7, 2025Death Toll From UPS Plane Crash Climbs to 13
The casualties are believed to include Captain Richard Wartenberg, First Officer Lee Truitt and International Relief Officer Captain Dana Diamond, UPS said in a statement.
November 7, 2025Flight Cancellations Ramp Up as Airlines Comply With FAA Order
U.S. airlines began canceling hundreds of flights Nov. 6 due to the Federal Aviation Administration’s order to reduce traffic at the country’s busiest airports starting Nov. 7.
November 6, 2025Maersk Investors Brace for ‘Bleak’ Quarters Ahead
A.P. Moller-Maersk shares fell with investor disappointment over a smaller-than-expected improvement in the container shipping giant’s full-year profit guidance.
November 6, 2025Layoffs Rise to Highest Level Since 2003
"This comes as AI adoption, softening consumer and corporate spending, and rising costs drive belt-tightening and hiring freezes,” Challenger, Gray & Christmas said in the report.
November 6, 2025Death Toll Rises to 12 in UPS Cargo Jet Crash in Kentucky
The death toll from a UPS Inc. cargo plane crash rose to 12 as investigators began looking into what caused the fiery Nov. 4 accident near the company’s global hub in Kentucky.
November 5, 2025Search Continues for Victims of UPS Cargo Jet Crash
First responders were searching for more victims Nov. 5 after a UPS cargo plane crashed and exploded in a fireball at the company’s global aviation hub in Kentucky, killing at least 12 people.
November 5, 2025Shipping Delays Expected After UPS Cargo Jet Crash
The UPS cargo plane crash on Nov. 4 at the company’s global aviation hub in Kentucky, which killed at least 12, will temporarily disrupt the supply chain and result in some shipping delays.
November 5, 2025XPO Reports Q3 Revenue Jumps to $2 Billion
The Greenwich, Conn.-based LTL carrier reported net income of $82 million for the three months ending Sept. 30. That compared with $95 million the previous year.
November 5, 2025Amazon Demands Perplexity Stop AI Tool's Purchasing Ability
Amazon has sent a cease and desist letter to Perplexity AI demanding that the AI search startup stop allowing its AI browser agent, Comet, to make purchases online for users.
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