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
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.
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