Freight forwarding is a cornerstone of India''s bustling trade ecosystem, bridging the gap between domestic markets and international commerce. Freight forwarding companies are vital players in enhancing global
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Apply online today. While all major forwarders benefited roughly equally from the market conditions in 2022, Armstrong & Associates, Inc. (A&A) finds in its 2022 ranking of the Top 25 Global Freight Forwarders by gross logistics revenue that 18 of these forwarders achieved revenue gains.
(A&A) finds in its 2022 ranking of the Top 25 Global Freight Forwarders by gross logistics revenue that 18 of these forwarders achieved revenue gains. (See chart: A&A’s Top 25 Global Freight Forwarders.) Similarly, Transport Intelligence (Ti) finds in its research that 17 out of the Top 20 forwarders achieved revenue gains.
“The combined entities created the largest global 3PL and airfreight forwarder, surpassing DHL, with K+N remaining as the largest global ocean freight forwarder,” says Evan Armstrong, president of A&A.
Global freight forwarding companies are ranked based on a combination of 2020 gross revenue and freight forwarding volume. The below table is the full list of the top 25 global freight forwarders showing gross revenue in USD , the total number of TEU’s shipped by ocean and the total number of metric tons shipped by air.
It also found that the global freight forwarders with the most gross revenue earnings remained in nearly the same position as A&A’s 2020 report with only slight deviations. Kuehne + Nagel remained No. 1, whereas DHL Supply Chain & Global Forwarding, which shared that position with K+N last year, moved to No. 2.
In such a volatile environment, shippers are continuing to lean heavily on their freight forwarders to help bolster their inventories and avoid product stock outs. And at the same time, high freight rates benefited freight forwarders in 2021, as many realized record profits.
