DSV Panalpina set to be the world’s largest forwarder after proposed takeover of Agility GIL


DSV Panalpina is poised to become the world’s largest freight forwarder in terms of air and ocean revenues provided that its proposed takeover of Agility GIL is completed, reveals a new analysis from Transport Intelligence (Ti).

“With the deal set to be completed in the second half of 2021, the stage is set for changes at the top of the ranking”, reveals Ti’s recently published Global Freight Forwarding Market 2021

With a revenue of €9.9bn, DSV Panalpina is ranked third as per the analysis. Kuehne + Nagel (KN) is the current market leader, with combined revenues of €11.5bn, followed by DHL Global Forwarding, with €10.9bn. Agility is ranked 12th with revenues of €2.8bn.

“GIL’s €2.8bn revenues would see DSV Panalpina displace both KN and DHL GF”, the report said.

The shuffling of top ranks would happen despite a difficult 2020 for the newly merged DSV-Panalpina, which was undergoing the integration of the two firms.

“The final quarter of 2020 was the first with the full impact of the Panalpina acquisition seen in comparative figures, and it shows the new company is smaller than the individual entities of DSV and Panalpina combined”, the report said.

It noted that the loss of a major customer, scaling back of Panalpina’s perishables business and discontinuation of other activities were attributed as the reasons for air volumes falling a staggering 26% year on year in Q4, well below market performance.

On another note, the report found that Maersk Logistics & Services stands as the world’s 18th-largest air freight forwarder, with annual revenue of €663m and a market share of 0.7% following the migration of the Damco brand last year to its parent company as part of Maersk’s integrator push.

The Ti data expects that DSV Panalpina-Agility will emerge as the market share leader.

It shows current leader KN’s market share of 7.3% would be superseded by the combination of DSV-Panalpina’s 6.3% and Agility’s 1.7% market share.

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