Is It True? DSV to Become the World’s Largest Forwarder?
August 20, 2021 • 1 minute read
Staff Content Writer
DSV Panalpina, a Danish-based global transport and logistics company, has been growing rapidly through acquisitions over recent years. Due to the acquisition of Agility’s Global Integrated Logistics, DSV now emerges as the third largest forwarder, overtaking DB Schenker, a division of German rail operator Deutsche Bahn AG focusing on ocean-air transport.Speculation has been circulating for years that Deutsche Bahn AG may sell all or part of its forwarding business, DB Schenker, valued at around $8-10 billion to raise money for an IPO. The combination of DSV and DB Schenker will create the world’s largest forwarding company with revenue of ~$46 billion, surpassing the current leader, DHL Global Forwarding, who generated a revenue of $28.4 billion last year. In terms of air freight forwarders, the consolidation of DSV and DB Schenker also make them a leader in the air cargo market, handling around 2.6 million tonnes last year.However, a spokesperson for DB Schenker described the speculation as “purely hypothetical”.“Rumors about DB Schenker getting sold have been in the market for years. Our strong financial situation and the upcoming federal elections in Germany may give more fuel for such speculations,” the spokesperson said.For now, while DB Schenker doesn’t plan to sell its company, DSV’s continued hunger for acquisitions has been well known in the industry for years. Will DHL’s dominance in the logistics industry be challenged in the coming decades? Look out for DSV as they roll up their sleeves to disrupt the logistics industry.
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