Korea’s LX Pantos becomes the world’s sixth busiest sea cargo forwarder

LX Pantos has become the world’s sixth-largest ocean freighter forwarder, the highest ranking for a South Korean logistics name.

According to Armstrong & Associates (A&A), a U.S.-based third-party logistics market research firm, on Sunday, LX Pantos ranked sixth, handling 1,658,000 TEUs (shipping containers of 20-feet length).

Its achievement shows that the firm has solidified its foothold in the international logistics market dominated by European players.

Kuehne+Nagel from Switzerland ranked top with 4,613,000 TEUs, followed by China’s Sinotrans with 3,750,000 TEUs. DHL Supply Chain & Global Forwarding (Germany) took third place with 3,142,000 TEUs. DSV A/S (Denmark) and DB Schenker (Germany) ranked fourth and fifth with 2,900,000 TEUs and 2,215,000 TEUs each. C.H. Robinson Worldwide (U.S.) ranked seventh, while Nippon Express and Yusen Logistics (Japan) took 18th and 19th places, far behind LX Pantos.

LX Pantos has seen building up its presence in the ocean freight services, posting 1,315,300 TEUs in 2018, 1,434,400 TEUs in 2019, 1,462,600 TEUs in 2020 and 1,658,000 TEUs in 2021.

“We have successfully enhanced our competitiveness in the third-party logistics market. Based on our achievement in ocean freight, we will move ahead for our air cargo services,” said CEO Chio Won-hyok.

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