Expedited : Spotlight on Air Cargo
Special Report
federal government , while the jobs guarantee was aimed at placating German unions .
“ The German logistics industry is obviously enormous , but with German manufacturing down at the moment , logistics growth is struggling in the country ,” Clover told the Journal of Commerce .
“ Ti forecasts show that German freight forwarding will grow at a compound annual growth rate [ CAGR ] of 3.2 % from 2023 to 2028 , contract logistics at a CAGR of 1 % and road freight at a 1.5 %,” he added . “ So , you could argue that the commitment to Germany for the next two years was all about securing the deal , rather than about the growth opportunities in Germany .”
Germany ’ s United Services Union , known as ver . di , had a wait-and-see attitude when contacted by the Journal of Commerce after the deal was signed .
“ For us , it is essential that as many jobs as possible are retained at the end of the sales process ,” a union spokesperson said .
In early September , some DB Schenker employees hit the streets in major centers around Germany in protest , with the United Services Union . Members of ver . di had been campaigning for a competing bid from private equity firm CVC Capital Partners .
World ’ s largest forwarder
In global revenue terms , a combined DSV-DB Schenker will be the world ’ s largest forwarder , with revenue of $ 39.3 billion based on 2023 results , according to DSV . Figures by market research firm Armstrong & Associates put DHL Global Forwarding in second place globally at $ 33.8 billion and Kuehne + Nagel third with $ 31.6 billion .
In terms of global ocean volume , Kuehne + Nagel remains at the top with 4.34 million TEUs against DSV-DB Schenker ’ s 4.30 million TEUs , with DHL Global Forwarding third at 3 million TEUs .
DSV-DB Schenker is clearly ahead in air freight volume , handling a combined 2.45 million tons in 2023 against Kuehne + Nagel ’ s 1.9 million tons and DHL Global Forwarding ’ s 1.67 million tons .
While the three Europe-based companies dominate the global forwarding market , it ’ s a different picture on the trans-Pacific . Through the first eight months of this year , Kuehne + Nagel held the largest ocean market share of the
“ The combined entity will be a large player on the trans-Pacific .”
three European forwarders , at 3.01 % and 180,049 TEUs , but that was only good enough for fourth place , according to data from PIERS , a sister product of the Journal of Commerce within S & P Global .
California-based Kerry Apex led with a 5.21 % share of the trans-Pacific market and volume of 312,195 TEUs .
After the first eight months of 2024 , DSV was at 21st place on the trans-Pacific with 53,193 TEUs and 0.89 % of the market . The latest available data for DB Schenker is for January to August 2023 , when it handled just 6,167 TEUs . “ The combined entity will be a large player on the trans-Pacific , and this will be a benefit of the deal to help get DSV more exposure to this key trade lane , but not the driving rationale ,” Clover noted .
email : greg . knowler @ spglobal . com
DSV-DB Schenker will be the world ’ s largest forwarder by volume and revenue . Lukassek / Shutterstock . com www . joc . com October 7 , 2024 | Journal of Commerce 17