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Three major shipping giants + 2 major freight forwarders make the Fortune 500 list! 19 port, shipping and logistics companies on the list!

2023-08-03 14:10:12

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On August 2, 2023, the Fortune Global 500 list was unveiled, with 19 port, shipping and logistics companies in the world on the list, including three shipping giants - COSCO Shipping, Maersk and Hapag-Lloyd, and two freight forwarders - DXN and DSV - on the list.Among the 19 logistics companies, five companies from China were on the list, namely, China Post, China COSCO Shipping, China Merchants Group, Xiamen Elephant and Island Group, and SF Holding.

This year's Fortune 500 list companies have a combined revenue of about $41 trillion, up 8.4 percent from the previous year. The threshold for entering the ranking (minimum sales revenue) also jumped from US$28.6 billion to US$30.9 billion. However, due to the downturn in the global economy, the combined net profit of all companies on the list this year decreased by 6.5% year-on-year to about US$2.9 trillion.

 

This year, with the addition of Taiwanese companies, China has 142 companies on the list, continuing to top the list of large companies by country. Walmart became the world's largest company for the tenth consecutive year. Saudi Aramco rose to second place for the first time. China's State Grid continued in third place. In fourth and fifth place are Amazon and PetroChina, respectively. Sixth through 10th were Sinopec, ExxonMobil, Apple, Shell and UnitedHealth Group.


 

Among the Global 500, some companies achieved huge profit growth despite the overall decline in profits. Saudi Aramco was the most profitable company, with its profits up 51 percent to about $159 billion. Technology companies featured prominently on the profit list, with Apple in second place with profits of more than $99.8 billion; Microsoft's profits rose by $11.4 billion year-on-year to $72.7 billion, placing it in third place; and Google's parent company, Alphabet, and the U.S. Postal Service came in fourth and fifth place, respectively.

 

Industrial and Commercial Bank of China (ICBC) and China Construction Bank (CCB) were the two Chinese companies in the top 10 profit list, with ICBC posting profits of more than $53.5 billion. On the profit margin list, the USPS topped the list with a net profit margin of 71%. Benefiting from the continued high level of shipping prices, German shipping company Hapag-Lloyd, which made its debut on the list, ranked second on the profit margin list, with a profit margin of 49.3%.

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