DHL stays at the top despite volume decline

DHL Global Forwarding maintained its position as the leading airfreight forwarder last year despite volumes dropping, while Kuehne+Nagel (K+N) looks set to nab the top spot in the coming years and DSV Panalpina continues its rapid rise up.
The latest annual market figures from consultant Armstrong & Associates highlight the level of volatility registered in the air cargo market last year, with dramatic variances in performance.
The overall decline in volumes for the top 25 players reflects the Covid-19 outbreak that saw much of the world’s airlines ground their fleets as passenger travel ground to a halt and lockdowns constrained consumer spending.
For market leader DHL Global Forwarding, like many of its peers, 2020 was a tough year in terms of air volumes as a result of the pandemic, although it was a different story for revenues and profits.
The Bonn-headquartered company saw its airfreight volumes decline by 12.1% year on year to 1.7m tonnes.