This yr’s High 100 Logistics Corporations checklist exhibits the trade’s resiliency amidst erratic situations. (Enterprise Wire)
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The most important third-party logistics firms in North America remained in progress mode final yr regardless of an unsure financial setting and fewer favorable market situations.
Spot freight demand has softened and truck capability has loosened because the frenetic days of the 2021 freight growth. Shippers, in the meantime, replenished their inventories after combating provide chain bottlenecks throughout the restoration from the coronavirus pandemic.
But even because the freight market has normalized, most of the massive logistics suppliers that thrived amid the chaos of the previous couple of years have maintained their momentum. An amazing majority of the 3PLs that seem on the 2023 Transport Matters High 100 Logistics Corporations checklist continued to develop their revenues final yr.
This annual checklist of the most important logistics suppliers in North America ranks firms on the idea of annual gross income generated by their logistics operations, together with freight brokerage, freight forwarding, warehousing and distribution and asset-based devoted contract carriage.
This yr’s rankings present an up to date take a look at how the largest gamers within the 3PL trade have fared in an ever-shifting enterprise local weather.
The highest of the checklist stays comparatively static with freight brokerage big C.H. Robinson Worldwide holding onto its No. 1 rating by a major margin.
Subsequent up are freight forwarders Expeditors Worldwide of Washington and Kuehne + Nagel Americas at Nos. 2 and three, respectively, whereas UPS Provide Chain Options and J.B. Hunt Transport Companies spherical out the highest 5.
Ryder Provide Chain Options, the logistics unit of truck-leasing and transportation agency Ryder System Inc., climbed into the highest 10 after increasing its income to $6.5 billion final yr.
This yr’s High 100 checklist additionally displays a spate of current mergers, acquisitions and spinoffs.
Armada Provide Chain Options, a Pittsburgh-based logistics firm with a robust presence within the meals service trade, acquired St. Louis-based freight brokerage Sundown Transportation in late 2022. The mixed group lands at No. 13 on the High 100 with greater than $5.5 billion in income.
In the meantime, landmark acquisitions within the truckload motor service house are also reshaping the 3PL phase of the freight transportation trade.
Knight-Swift Transportation’s settlement to amass U.S. Xpress wouldn’t solely mix the most important and seventh-largest truckload carriers in North America, but additionally signify a merger of the Nos. 37 and 62 ranked firms on TT’s High 100 logistics checklist. That deal, introduced in March, is anticipated to shut within the late second quarter or early third quarter. The businesses retain separate listings on this High 100 checklist as a result of the acquisition was not full at press time.
Elsewhere on the checklist, DB Schenker jumped to No. 17 on the High 100, up from No. 24 a yr in the past, bolstered partially by its September 2022 acquisition of truckload service USA Truck, together with its freight brokerage operations.
One other firm rising on the checklist is No. 26 Maersk Logistics, the 3PL arm of ocean service A.P. Moller-Maersk. The corporate expanded its landside transportation and logistics capabilities via its Might 2022 acquisition of Pilot Freight Companies, which ranked No. 44 on final yr’s checklist.
Minnesota-based C.H. Robinson Worldwide took the No. 1 spot on the High 100 Logistics Corporations checklist for an additional yr. (C.H. Robinson)
A number of firms are making their first look on the High 100 this yr.
Different newcomers embody No. 66 Ryan Transportation Service, No. 70 Scotlynn Group, No. 80 Canada Cartage and No. 99 KAG Logistics, the logistics division of tank truck service Kenan Benefit Group. Additionally becoming a member of the checklist at No. 100 is Logistics Plus, a worldwide logistics supplier based mostly in Erie, Pa.
Transport Matters produced this High 100 checklist and the accompanying sector rankings in collaboration with trade analysis and consulting agency Armstrong & Associates, which offered estimates for some income figures in instances the place information was not out there from firm administration or public sources.
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