2021 Essential Revenue and Operating Information for the 50 Largest Global Freight Carriers
Up Front
Rankings
Top 50 Global Freight | Airport Data
Port Data: Pacific Northwest | California & Pacific Islands | North Atlantic | Mid-Atlantic & South Atlantic | Mexico & Central America | Gulf Coast | Caribbean | Great Lakes
| Rank This Year | Rank Last Year | Company | Headquarters | Freight Revenue (Millions) | Total Revenue (Millions) | Freight Revenue Share |
|---|---|---|---|---|---|---|
| 1 | 2 | UPS Inc. |
USA | $72,593 | $84,628 | 85.8% |
| 2 | 1 | FedEx Corp. |
USA | $70,456 | $74,729 | 94.3% |
| 3 | 3 | China State Railway Group |
China | $46,357 | $164,346 | 28.2% |
| 4 | 4 | Maersk |
Denmark | $35,718 | $39,740 | 89.9% |
| 5 | 8 | Mediterranean Shipping Co |
Switzerland | $29,995 | $29,995 | 100.0% |
| 6 | 7 | Deutsche Post DHL |
Germany | $26,779 | $76,191 | 35.1% |
| 7 | 10 | Cosco Shipping Group |
China | $24,820 | $24,820 | 100.0% |
| 8 | 5 | CMA CGM |
France | $24,230 | $31,580 | 76.7% |
| 9 | 13 | SF Express |
China | $22,317 | $22,317 | 100.0% |
| 10 | 6 | Russian Railways |
Russia | $21,649 | $30,261 | 71.5% |
| 11 | 9 | BNSF Railway |
USA | $19,778 | $20,869 | 94.8% |
| 12 | 11 | Union Pacific |
USA | $19,533 | $19,533 | 100.0% |
| 13 | 12 | Indian Railways |
India | $15,740 | $18,618 | 84.5% |
| 14 | 14 | Hapag-Lloyd |
Germany | $14,567 | $14,567 | 100.0% |
| 15 | 16 | Yamato Holdings |
Japan | $13,523 | $15,274 | 88.5% |
| 16 | 23 | GeoPost Group |
France | $12,460 | $12,460 | 100.0% |
| 17 | 15 | Deutsche Bahn Group |
Germany | $12,357 | $45,508 | 27.2% |
| 18 | 17 | CSX Corp. |
USA | $10,538 | $10,538 | 100.0% |
| 19 | 19 | Canadian National |
Canada | $10,060 | $10,307 | 97.6% |
| 20 | 18 | Norfolk Southern |
USA | $9,789 | $9,789 | 100.0% |
| 21 | 22 | SG Holdings |
Japan | $9,702 | $11,806 | 82.2% |
| 22 | 20 | NYK Group |
Japan | $9,205 | $15,254 | 60.3% |
| 23 | 21 | Mitsui O.S.K Lines |
Japan | $8,721 | $9,556 | 91.3% |
| 24 | 24 | XPO |
USA | $8,156 | $16,252 | 50.2% |
| 25 | 25 | J.B. Hunt Transport Services |
USA | $8,022 | $9,637 | 83.2% |
| 26 | 28 | Evergreen Marine Corp. |
Taiwan | $6,565 | $7,029 | 93.4% |
| 27 | 26 | Kawasaki Kisen Kaisha Ltd. (K Line) |
Japan | $5,967 | $5,967 | 100.0% |
| 28 | 27 | Canadian Pacific Railway |
Canada | $5,624 | $5,750 | 97.8% |
| 29 | 31 | Hyundai Merchant Marine Co. |
South Korea | $5,438 | $5,438 | 100.0% |
| 30 | 35 | General Logistics Systems (Royal Mail) |
Netherlands | $5,183 | $5,183 | 100.0% |
| 31 | 48 | Qatar Airways |
Qatar | $5,071 | $8,062 | 62.9% |
| 32 | 40 | Emirates Group |
UAE | $4,657 | $8,230 | 56.6% |
| 33 | 30 | Yang Ming Marine Transport Co. |
Taiwan | $4,632 | $5,135 | 90.2% |
| 34 | 29 | Yellow Corp. |
USA | $4,513 | $4,513 | 100.0% |
| 35 | 32 | Knight-Swift Transportation |
USA | $4,177 | $4,674 | 89.4% |
| 36 | 33 | Old Dominion Freight Line |
USA | $4,015 | $4,015 | 100.0% |
| 37 | 39 | ZIM Integrated Shipping Services |
Israel | $3,992 | $3,992 | 100.0% |
| 38 | - | Korean Air |
South Korea | $3,605 | $6,280 | 57.4% |
| 39 | 41 | Cathay Pacific Airways |
Hong Kong | $3,596 | $6,051 | 59.4% |
| 40 | 37 | TFI International |
Canada | $3,542 | $3,782 | 93.6% |
| 41 | 44 | Toll Group (Japan Post) |
Australia | $3,503 | $7,112 | 49.3% |
| 42 | 36 | Schneider |
USA | $3,457 | $4,553 | 75.9% |
| 43 | 38 | Nippon Express |
Japan | $3,317 | $18,856 | 17.6% |
| 44 | - | Cargolux |
Luxembourg | $3,171 | $3,171 | 100.0% |
| 45 | 47 | Lufthansa Group |
Germany | $3,144 | $15,498 | 20.3% |
| 46 | 45 | Estes Express |
USA | $3,055 | $3,547 | 86.1% |
| 47 | 34 | Transnet Group |
South Africa | $2,995 | $3,770 | 79.5% |
| 48 | - | Wan Hai Lines |
Taiwan | $2,779 | $2,779 | 100.0% |
| 49 | - | Turkish Airlines |
Turkey | $2,722 | $6,734 | 40.4% |
| 50 | 43 | Kansas City Southern |
USA | $2,633 | $2,633 | 100.0% |
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
Ports and airports across North America are clamoring to stay ahead of cargo backlogs and shipment load.
If your company appears in the 2021 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 Global Freight Carriers publication.
Global Freight News
Maersk to Return to Red Sea as Stability Improves in Region
The voyage marks another step toward normalization of global supply lines, after Yemen-based Houthis in 2023 began attacking vessels, forcing shipowners to sail south of Africa.
January 15, 2026Maersk Makes Another Voyage Through Red Sea in Safety Test
The voyage marks another step toward normalization of global supply lines, after Yemen-based Houthis in 2023 began attacking vessels, forcing shipowners to sail south of Africa.
January 13, 2026Current, Former Executives Buy USA Truck From DSV
DSV said in October it was working on selling USA Truck, which did not fit its vision for asset-light North American on-road operations. USA Truck CEO George Henry will continue in the role.
January 12, 2026Amazon Plans Walmart-Style Big Box Store Near Chicago
Amazon is planning a 229,000-square-foot store selling groceries and general merchandise in the Chicago area, a fresh attempt at physical retail that borrows from stores like Walmart and Target.
January 9, 2026Transport Stocks Jump to Record High on Economic Optimism
U.S. transportation stocks closed at a record level Jan. 6, capping off a rebound fueled by prospects of strong economic growth this year.
January 6, 2026Transportation Stocks Eye Record on Economic Growth Hopes
Among the Dow Jones Transportation Average's best performers in 2025 were C.H. Robinson Worldwide, surging 56%, as investors fawned over its use of artificial intelligence to cut costs.
January 5, 2026FedEx Posts Higher Earnings as Spinoff Plans Advance
The results hovered around expectations by investment analysts on Wall Street, which had been looking for $4.07 per share and quarterly revenue of $22.88 billion.
December 19, 2025Maersk, Hapag-Lloyd Reroute Ships From Baltimore
A.P. Moller-Maersk and Hapag-Lloyd have switched a major route for their Gemini joint venture to the Delaware River container terminals, effective Jan. 4.
December 19, 2025USPS to Open Last-Mile Delivery Network to More Shippers
The U.S. Postal Service said Dec. 17 it intends to open its last-mile delivery network, the most expensive part of the shipping process, to large and small shippers.
December 17, 2025Amazon Names New AI Chief Amid Battle to Take on Tech Rivals
Amazon is reorganizing teams working on artificial intelligence projects, putting Peter DeSantis, a top leader from the company’s cloud division, in charge of a new unit.
December 17, 2025
