The latest warning sign for U.S. stocks is emerging from a corner of the market that investors closely watch to get a read on the state of the economy and the health of American consumers: Transportation shares.
April 4, 20222021 Top 50 Global Freight Carriers

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Up Front
Rank This Year | Rank Last Year | Company | Headquarters | Freight Revenue (Millions)![]() | Total Revenue (Millions) | Freight Revenue Share |
---|---|---|---|---|---|---|
50 | 43 | Kansas City Southern | USA | $2,633 | $2,633 | 100.0% |
49 | - | Turkish Airlines | Turkey | $2,722 | $6,734 | 40.4% |
48 | - | Wan Hai Lines | Taiwan | $2,779 | $2,779 | 100.0% |
47 | 34 | Transnet Group | South Africa | $2,995 | $3,770 | 79.5% |
46 | 45 | Estes Express | USA | $3,055 | $3,547 | 86.1% |
45 | 47 | Lufthansa Group | Germany | $3,144 | $15,498 | 20.3% |
44 | - | Cargolux | Luxembourg | $3,171 | $3,171 | 100.0% |
43 | 38 | Nippon Express | Japan | $3,317 | $18,856 | 17.6% |
42 | 36 | Schneider | USA | $3,457 | $4,553 | 75.9% |
41 | 44 | Toll Group (Japan Post) | Australia | $3,503 | $7,112 | 49.3% |
40 | 37 | TFI International | Canada | $3,542 | $3,782 | 93.6% |
39 | 41 | Cathay Pacific Airways | Hong Kong | $3,596 | $6,051 | 59.4% |
38 | - | Korean Air | South Korea | $3,605 | $6,280 | 57.4% |
37 | 39 | ZIM Integrated Shipping Services | Israel | $3,992 | $3,992 | 100.0% |
36 | 33 | Old Dominion Freight Line | USA | $4,015 | $4,015 | 100.0% |
35 | 32 | Knight-Swift Transportation | USA | $4,177 | $4,674 | 89.4% |
34 | 29 | Yellow Corp. | USA | $4,513 | $4,513 | 100.0% |
33 | 30 | Yang Ming Marine Transport Co. | Taiwan | $4,632 | $5,135 | 90.2% |
32 | 40 | Emirates Group | UAE | $4,657 | $8,230 | 56.6% |
31 | 48 | Qatar Airways | Qatar | $5,071 | $8,062 | 62.9% |
30 | 35 | General Logistics Systems (Royal Mail) | Netherlands | $5,183 | $5,183 | 100.0% |
29 | 31 | Hyundai Merchant Marine Co. | South Korea | $5,438 | $5,438 | 100.0% |
28 | 27 | Canadian Pacific Railway | Canada | $5,624 | $5,750 | 97.8% |
27 | 26 | Kawasaki Kisen Kaisha Ltd. (K Line) | Japan | $5,967 | $5,967 | 100.0% |
26 | 28 | Evergreen Marine Corp. | Taiwan | $6,565 | $7,029 | 93.4% |
25 | 25 | J.B. Hunt Transport Services | USA | $8,022 | $9,637 | 83.2% |
24 | 24 | XPO Logistics | USA | $8,156 | $16,252 | 50.2% |
23 | 21 | Mitsui O.S.K Lines | Japan | $8,721 | $9,556 | 91.3% |
22 | 20 | NYK Group | Japan | $9,205 | $15,254 | 60.3% |
21 | 22 | SG Holdings | Japan | $9,702 | $11,806 | 82.2% |
20 | 18 | Norfolk Southern | USA | $9,789 | $9,789 | 100.0% |
19 | 19 | Canadian National | Canada | $10,060 | $10,307 | 97.6% |
18 | 17 | CSX Corp. | USA | $10,538 | $10,538 | 100.0% |
17 | 15 | Deutsche Bahn Group | Germany | $12,357 | $45,508 | 27.2% |
16 | 23 | GeoPost Group | France | $12,460 | $12,460 | 100.0% |
15 | 16 | Yamato Holdings | Japan | $13,523 | $15,274 | 88.5% |
14 | 14 | Hapag-Lloyd | Germany | $14,567 | $14,567 | 100.0% |
13 | 12 | Indian Railways | India | $15,740 | $18,618 | 84.5% |
12 | 11 | Union Pacific | USA | $19,533 | $19,533 | 100.0% |
11 | 9 | BNSF Railway | USA | $19,778 | $20,869 | 94.8% |
10 | 6 | Russian Railways | Russia | $21,649 | $30,261 | 71.5% |
9 | 13 | SF Express | China | $22,317 | $22,317 | 100.0% |
8 | 5 | CMA CGM | France | $24,230 | $31,580 | 76.7% |
7 | 10 | Cosco Shipping | China | $24,820 | $24,820 | 100.0% |
6 | 7 | Deutsche Post DHL | Germany | $26,779 | $76,191 | 35.1% |
5 | 8 | Mediterranean Shipping Co | Switzerland | $29,995 | $29,995 | 100.0% |
4 | 4 | Maersk | Denmark | $35,718 | $39,740 | 89.9% |
3 | 3 | China State Railway Group | China | $46,357 | $164,346 | 28.2% |
2 | 1 | FedEx Corp. | USA | $70,456 | $74,729 | 94.3% |
1 | 2 | UPS Inc. | USA | $72,593 | $84,628 | 85.8% |

Extras
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