HomeNewsDSV Panalpina buys Agility unit for US$4 billion to become No. 3 freight forwarder
Shipper/Freight Forwarders Rankings – commodity wise

DSV Panalpina buys Agility unit for US$4 billion to become No. 3 freight forwarder

Apr, 27, 2021 Posted by andrew_lorimer

Week 202118

DSV Panalpina said on Tuesday it had agreed to acquire Agility freight forwarders in an all-share deal worth $4.1 billion, creating the world’s third largest freight forwarding company.

The deal is one of several in recent years as global logistics companies are looking to build scale in a fragmented freight transport market.

It will see Copenhagen-based DSV overtake DB Schenker, putting it behind only DHL Logistics and Kuehne & Nagel as measured by revenue and freight volumes.

On the east coast of South America, the joining of the two players will see them climb the rankings substantially. The latest OTI rankings from Datamar already showed some of the effects of DSV and Panalpina’s coming together.

Brazil 

OTI (NVO) Ranking | DataLiner Brazil | Jan/Feb 2021 v Jan/Feb 2020 | TEU | Exports

wdt_ID Rank Company Jan-Feb | 2020 Jan-Feb | 2021 % Change
1 1 KUEHNE & NAGEL 10,822 9,025 -16.61%
2 2 AMTRANS LOGISTICA & TRANSPORTES INTERNACIONAIS LTDA 4,684 7,260 55.00%
3 3 INTERMAR AFRETAMENTO E AGENCIAMENTO LTDA 1,446 5,545 283.47%
4 4 DB SCHENKER 6,269 5,046 -19.50%
5 5 VMLOG LOGISTICA INTERNATIONAL 2,504 4,291 71.37%
6 6 DHL GLOBAL FORWARDING 3,328 3,949 18.67%
7 7 EASY SHIPPING GLOBAL LOGISTICA LTDA 1,145 3,684 221.75%
8 8 AGILITY LOGISTICS 4,511 3,609 -20.00%
9 9 ASIA SHIPPING 2,652 3,306 24.64%
10 10 DSV TRANSPORT & LOGISTICS CO 804 3,142 290.93%
11 11 INDAIA LOGISTICA INTERNACIONAL 2,401 2,597 8.14%
12 12 INTERGLOBO INTERNATIONAL FREIGHT FORWARDING 1,568 2,314 47.58%
13 13 CONFIDENCE ASSESSORIA EM COMERCIO EXTERIOR LTDA 3,473 2,203 -36.57%
14 14 BCF COMISSIONARIA ADUANEIRA & SERV DE IMP & EXP LTDA 718 2,049 185.38%
15 15 SAVINO DEL BENE 1,464 1,920 31.15%
16 16 J C ASSESSORIA EM COMERCIO EXTERIOR LTDA 2,077 1,882 -9.39%
17 17 DC LOGISTICS BRASIL LTDA 1,560 1,730 10.93%
18 18 CRAFT MULTIMODAL 2,184 1,703 -22.04%
19 19 EURO AMERICA INTERNATIONAL FREIGHT FORWARDERS 1,532 1,582 3.26%
20 20 EAST LINE LTD 1,275 1,490 16.90%
21 21 SAFELOG TRANSPORTES & LOGISTICA LTDA EPP 1,628 1,464 -10.10%
22 22 CEVA LOGISTICS 673 1,452 115.75%
23 23 ANDES OPERADOR MULTIMODAL LTDA 1,724 1,420 -17.63%
24 24 LION LOGISTICS TRANSPORTES INTERNACIONAIS LTDA 200 1,382 591.00%
25 25 BLU LOGISTICS BRASIL TRANSPORTES INTERNACIONAIS LTDA 907 1,273 40.35%
26 26 EASYLOG SERVICOS & LOGISTICA LTDA EPP 1,118 1,220 9.12%
27 27 B&M LOGISTICA INTERNACIONAL 1,832 1,206 -34.20%
28 28 FR MEYERS SOHN LOGISTICS 1,095 1,178 7.58%
29 29 EXPEDITORS INTERNATIONAL 1,360 1,171 -13.90%
30 30 MASTER SUL COMEX LTDA 1,121 1,116 -0.45%
31 31 JOSE RUBEM TRANSPORTE & EQUIPAMENTO LTDA 852 1,092 28.17%
32 32 AGL CARGO 963 1,072 11.32%
33 33 FESHI SERVICOS ADUANEIROS & TRANSPORTES LTDA 1,158 1,028 -11.23%
34 34 SMX INTERNATIONAL LTDA EPP 344 972 182.56%
35 35 INTERMODAL TANK TRANS BR OPER DE CONTEINER TANQUE LTDA 368 944 156.24%
36 36 VOX SHIPPING DO BRASIL AGENCIAMENTO LTDA 71,760 918 -98.72%
37 37 FEDEX TRADE NETWORKS 652 834 27.91%
38 38 PLENNA ASSESSORIA EM COMERCIO EXTERIOR LTDA EPP 1,334 828 -37.93%
39 39 MORGADO DESPACHOS ADUANEIROS LTDA 0 804 100.00%
40 40 JAS FORWARDING WORLDWIDE 1,158 791 -31.69%
41 41 BRAZIL TRANSPORT LOGISTICS LTDA ME 128 778 507.81%
42 42 DMF LOGISTICS 546 722 32.23%
43 43 MAERSK GROUP 91 663 631.59%
44 44 C FREIGHT AGENCIAMENTOS INTERNACIONAIS LTDA 470 658 40.00%
45 45 ORGANIZACAO LEON REICH LTDA 416 644 54.81%
46 46 C STEINWEG HANDELSVEEM LATIN AMERICA SA 194 630 224.74%
47 47 ALLOG TRANSPORTES INTERNACIONAIS 348 626 79.89%
48 48 SERVIMEX LOGISTICA LTDA 588 611 3.91%
49 49 EASY WAY AGENCIAMENTO DE CARGAS INTERNACIONAIS LTDA EPP 551 583 5.81%
50 50 BDP 231 580 151.08%
51 OTHERS 50,196 53,083 5.75%
52 TOTAL 200,424 150,069 -25.12%

Source: DataLiner

OTI (NVO) Ranking | DataLiner Brazil | Jan/Feb 2021 v Jan/Feb 2020 | TEU | Imports

wdt_ID Rank Company Jan-Feb | 2020 Jan-Feb | 2021 % Change
1 1 ASIA SHIPPING 23,441 27,980 19.36%
2 2 BLU LOGISTICS BRASIL TRANSPORTES INTERNACIONAIS LTDA 10,687 13,842 29.53%
3 3 KUEHNE & NAGEL 10,335 8,087 -21.75%
4 4 DC LOGISTICS BRASIL LTDA 5,014 7,063 40.88%
5 5 AGILITY LOGISTICS 7,181 6,710 -6.55%
6 6 CRAFT MULTIMODAL 5,814 6,087 4.71%
7 7 PANTOS LOGISTICS 6,120 5,521 -9.79%
8 8 DB SCHENKER 5,294 5,509 4.06%
9 9 CEVA LOGISTICS 5,550 5,112 -7.89%
10 10 ES BRASIL LOGISTICA LTDA 2,572 4,892 90.20%
11 11 HAND LINE TRANSPORTES INTERNACIONAIS LTDA 3,734 4,662 24.85%
12 12 ALLOG TRANSPORTES INTERNACIONAIS 4,926 4,540 -7.84%
13 13 DSV TRANSPORT & LOGISTICS CO 3,389 4,383 29.32%
14 14 COMISSARIA PIBERNAT LTDA 4,647 4,116 -11.43%
15 15 PANALPINA 5,222 4,090 -21.67%
16 16 DHL GLOBAL FORWARDING 4,395 3,940 -10.35%
17 17 BDP 2,576 3,936 52.77%
18 18 HYUNDAI GLOVIS 2,621 3,711 41.59%
19 19 EXPEDITORS INTERNATIONAL 2,391 3,426 43.29%
20 20 JAS FORWARDING WORLDWIDE 2,328 3,143 35.02%
21 21 ROYAL AGENCIAMENTOS DE CARGAS LTDA EPP 2,912 2,668 -8.38%
22 22 HM WAY LOGISTICS 2,797 2,553 -8.71%
23 23 CHENDA CARGO LOGISTICS BRASIL LTDA 2,736 2,491 -8.95%
24 24 CTI CARGO 1,764 2,485 40.87%
25 25 PGL BRASIL LTDA 1,208 2,239 85.35%
26 26 RENTAL LOGISTICA & TRANSPORTE LTDA 1,860 2,226 19.68%
27 27 ANX LOGISTICA INTERNACIONAL & AGENCIAMENTO LTDA 2,392 2,221 -7.15%
28 28 SEA SKY LOGISTICA DE TRANSPORTE INTERNACIONAL LTDA 1,392 2,087 49.93%
29 29 INDAIA LOGISTICA INTERNACIONAL 1,601 2,071 29.34%
30 30 NEXT SHIPPING LOGISTICA INTERNACIONAL LTDA ME 1,657 1,980 19.49%
31 31 KPM LOGISTICS AGENCIAMENTO DE CARGAS EIRELI 1,258 1,977 57.15%
32 32 B&M LOGISTICA INTERNACIONAL 1,390 1,934 39.14%
33 33 PLUSCARGO GROUP 1,435 1,865 29.98%
34 34 FAST SHIPPING AGENCIAMENTO DE CARGAS LTDA 584 1,804 208.90%
35 35 FGL GLOBAL LOGISTICA LTDA 974 1,803 85.08%
36 36 ASCENSUS TRADING & LOGISTICA LTDA 683 1,706 149.78%
37 37 GEODIS WILSON 1,312 1,551 18.26%
38 38 ASLL AIRSEA LAND ASSESSORIA & LOGISTICA LTDA 2,735 1,533 -43.95%
39 39 PINHO SA 577 1,517 162.91%
40 40 HELLMANN WORLDWIDE LOGISTICS 1,524 1,483 -2.69%
41 41 NEW TRAFIC LOGISTICA INTERNACIONAL & TRANSPORTE LTDA 1,421 1,452 2.15%
42 42 FIGWAL TRANSPORTES INTERNACIONAIS LTDA 1,150 1,328 15.48%
43 43 MANUPORT LOGISTICS 1,344 1,325 -1.41%
44 44 ALLINK TRANSPORTES INTERNACIONAIS LTDA 1,158 1,310 13.17%
45 45 WIND LOGISTICS 514 1,283 149.61%
46 46 FIL GROUP TRANSPORTE INTERNACIONAL LTDA 655 1,258 92.06%
47 47 SEA EXPRESS SHIPPING 281 1,247 343.77%
48 48 FCA COMERCIO EXTERIOR & LOGISTICA LTDA 144 1,203 735.42%
49 49 V3 SHIPPING DO BRASIL LTDA 1,009 1,195 18.43%
50 50 MSL CORPORATE 733 1,178 60.70%
51 OTHERS 94,814 98,226 3.60%
52 TOTAL 254,251 281,950 10.89%

Source: DataLiner

Plate 

OTI  (NVO) Rankings | DataLiner Plate| Jan/Feb 2021 v Jan/Feb 2020 | TEU | Exports

wdt_ID Rank Company Jan-Feb | 2020 Jan-Feb | 2021 % Change
1 1 KUEHNE & NAGEL 1,259 1,617 28.44%
2 2 CENTRAL CARGO SAS 0 820 100.00%
3 3 ITL CARGO 720 725 0.69%
4 4 BLU LOGISTICS 452 658 45.58%
5 5 BDP 661 619 -6.35%
6 6 DHL GLOBAL FORWARDING 359 569 58.50%
7 7 MERCATOR TRANSPORT ARGENTINA SA 241 562 133.20%
8 8 TRANSCARGO 338 489 44.67%
9 9 JF HILLEBRAND GROUP 694 470 -32.30%
10 10 RUCA LOGISTICS SA 277 439 58.48%
11 11 KEEMO SA 204 416 103.92%
12 12 JAUSER CARGO 31 385 1141.94%
13 13 INTERMODAL TANK TRANSPORT LOGISTICS 215 377 75.35%
14 14 TERRAMAR LOGISTICA SRL 139 367 164.03%
15 15 MGP LOGISTICS 691 344 -50.29%
16 16 DB SCHENKER 603 328 -45.61%
17 17 SEABIRD ARGENTINA SA 243 327 34.36%
18 18 AMERICANA SHIPPING GROUP 458 290 -36.68%
19 19 AGROLOG SA 269 282 4.65%
20 20 PLUSCARGO GROUP 356 280 -21.21%
21 21 OUTLAND LOGISTCS 146 268 83.56%
22 22 ALMAR INTERNATIONAL 455 259 -43.08%
23 23 GEFCO LOGISTICS 312 257 -17.63%
24 24 SUFLENORSA TRANSITARIOS SL 350 253 -27.71%
25 25 JAS FORWARDING WORLDWIDE 185 242 30.54%
26 26 SEASIDE LOGISTICS SA 228 241 5.70%
27 27 954 LINCOLN SA 96 233 142.19%
28 28 RALESUR SA 264 222 -16.10%
29 29 TIBA GROUP 595 219 -63.19%
30 30 PANALPINA 367 205 -44.14%
31 31 AUSTRAL BOND SRL 112 205 82.59%
32 32 GIORGIO GORI 151 204 35.10%
33 33 SOUTHCROSS LOGISTICS 233 199 -14.81%
34 34 MERCOMAR SA 199 198 -0.50%
35 35 ALTERCARGO SRL 636 193 -69.65%
36 36 SERVICIOS MERCANTILES INTERNACIONALES SRL 0 192 100.00%
37 37 INTER AMERICAN CARGO GROUP 216 191 -11.57%
38 38 HELLMANN WORLDWIDE LOGISTICS 424 191 -55.07%
39 39 LOGINET SA 76 180 136.98%
40 40 MSL CORPORATE 160 176 10.25%
41 41 VINPAC CONTAINER LINE 247 176 -28.74%
42 42 BK LOGISTICA & SERVICIOS ADUANEROS SRL 36 174 383.33%
43 43 MERCOLINE SRL 142 158 11.27%
44 44 BOLLORE LOGISTICS 59 155 162.71%
45 45 CODE LOGISTICS SA 256 154 -39.84%
46 46 TRADE & LOGISTIC CO ARGENTINA SA 46 150 226.09%
47 47 LATCOMEX SA 121 147 21.49%
48 48 PORTLAND LOGISTIC SRL 34 145 326.47%
49 49 DHD SA 108 145 34.26%
50 50 PROJECT CARGO SA 187 143 -23.53%
51 OTHERS 10,147 7,908 -22.06%
52 TOTAL 24,797 24,143 -2.64%
Source: DataLiner

OTI  (NVO) Rankings | DataLiner Plate| Jan/Feb 2021 v Jan/Feb 2020 | TEU | Imports

wdt_ID Rank Company Jan-Feb | 2020 Jan-Feb | 2021 % Change
1 1 LOCKSLEY SRL 2,880 3,872 34.44%
2 2 PLUSCARGO GROUP 3,033 3,136 3.39%
3 3 KUEHNE & NAGEL 4,738 2,840 -40.05%
4 4 CRAFT MULTIMODAL 2,806 2,311 -17.65%
5 5 LINER SHIPPING SERVICES SA 1,757 2,158 22.85%
6 6 DHL GLOBAL FORWARDING 1,877 1,639 -12.68%
7 7 YUSEN LOGISTICS 1,663 1,569 -5.65%
8 8 NAVICON URUGUAY SA 633 1,458 130.28%
9 9 HELLMANN WORLDWIDE LOGISTICS 966 1,453 50.42%
10 10 INTERLOG SA 1,122 1,394 24.24%
11 11 DB SCHENKER 1,542 1,381 -10.44%
12 12 NAVICON INTERNATIONAL TRANSPORT 661 1,352 104.46%
13 13 MSL CORPORATE 1,136 1,282 12.87%
14 14 ALMAR INTERNATIONAL 1,083 1,222 12.83%
15 15 PANALPINA 1,507 1,114 -26.11%
16 16 TRANSCARGO 1,018 1,081 6.23%
17 17 HB LOGISTICA SRL 1,548 1,051 -32.07%
18 18 CONTROL INFORMATICO DE CARGAS SA 595 915 53.78%
19 19 BLU LOGISTICS 654 893 36.54%
20 20 GEFCO LOGISTICS 636 860 35.22%
21 21 OUTLAND LOGISTCS 235 746 217.23%
22 22 BDP 787 728 -7.50%
23 23 JAS FORWARDING DE ARGENTINA SA 494 680 37.65%
24 24 GEODIS WILSON 1,324 664 -49.85%
25 25 OVERSEAS 358 634 76.96%
26 26 VINPAC CONTAINER LINE 332 575 73.27%
27 27 ROHLIG ARGENTINA SRL 456 550 20.61%
28 28 JAUSER CARGO 489 542 10.74%
29 29 CIFOB CARGO LTDA 149 532 257.05%
30 30 SACO SHIPPING 447 521 16.52%
31 31 TITO GLOBAL TRADE SERVICES 555 463 -16.58%
32 32 NIP CARGO SRL 525 456 -13.14%
33 33 DSV TRANSPORT & LOGISTICS CO 358 452 26.13%
34 34 EXPEDITORS INTERNATIONAL 590 445 -24.53%
35 35 CEVA DE ARGENTINA SRL 0 426 100.00%
36 36 MAERSK GROUP 0 423 100.00%
37 37 CH ROBINSON WORLDWIDE ARGENTINA SA 224 410 83.04%
38 38 SEASIDE LOGISTIC SA 220 408 85.45%
39 39 ORGANIZACION DE SERVICIOS ADUANEROS SA 350 408 16.43%
40 40 SEASIDE LOGISTICS SA 450 386 -14.11%
41 41 EAFF SA 325 375 15.38%
42 42 ALFA TRADING 901 365 -59.49%
43 43 REPREMAR LOGISTICS 569 359 -36.91%
44 44 FRACHT LOGISTICS 191 348 82.20%
45 45 PARAMAR SA 200 341 70.50%
46 46 ECU WORLDWIDE LOGISTICS 263 336 27.76%
47 47 TRANSPORTES UNIVERSALES 1,004 319 -68.23%
48 48 SAVINO DEL BENE 703 319 -54.69%
49 49 CARGO SA 213 312 46.48%
50 50 ALL IN SHIPPING 286 296 3.67%
51 OTHERS 22,456 22,670 0.95%
52 TOTAL 67,310 69,469 3.21%
Source: DataLiner

Shares in DSV rose 8.3% by 0844 GMT to hit a record high.

“This is very positive news and exactly what has been at the top of investors’ wish list,” said Mikkel Emil Jensen, analyst at Sydbank.

“And it’s exactly what DSV want more of, and where they are strongest in terms of earnings, so there is an opportunity to create really good synergies,” he added.

Agility’s logistics unit has around 17,000 employees and had revenue of $4 billion last year.

DSV’s Chief Financial Officer Jens Lund told Reuters in an interview that the unit is “an excellent match” and that he expects to lift profitability at the Agility unit from a current operating margin of 3.5-4% to DSV’s margin of around 10%. He declined to elaborate on how much synergy the acquisition will create.

“This will give us good exposure in Asia-Pacific and the Middle East,” Lund said.

The acquisition will increase DSV’s freight volumes by around a quarter and give it an extra 5% in global market share, according to Lund.

“This industry is still very fragmented,” he said.

DSV has a strategy of growing via acquisitions and less than two years ago bought Swiss logistics group Panalpina for around $6 billion.

Under the Agility deal, DSV Panalpina will transfer 19.3 million new shares worth 1 Danish crown each to Agility, representing around 8% of its shares, making the Kuwait company the second largest shareholder in DSV.

DSV expects the Agility unit to be fully integrated around a year after the transaction closes in the third quarter.

DSV Panalpina also reported first-quarter operating profit above expectations on Tuesday and raised its expectations for full-year profit.

Its operating profit before special items stood at 3.07 billion crowns (approximately US$ 500 million), topping the 2.70 billion expected by analysts for the January-March quarter in a poll gathered by the company.

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