Danish freight forwarder DSV A/S is reportedly looking for more business and acquisitions in the U.S., having seen that freight and shipping firms’ earnings and margins are greater in the U.S. than in any other country.
DSV has made several acquisitions in the industry, growing from being the world’s 10th largest forwarder in terms of revenue in 2010 to being the third largest last year, The Wall Street Journal reported Friday (Aug. 12).
Asked about Reuters reports that DSV was looking to acquire the largest freight middleman in the U.S., C.H. Robinson Worldwide’s global forwarding unit, DSV CEO Jens Bjorn Andersen declined to comment but said the company has big ambitions in the country, according to The Wall Street Journal report.
“We look at the U.S. very, very much,” Anderson said in the report. “It’s major for us.”
Global shipping, and by extension, global trade, continues to face significant challenges including intermittent lockdowns in China, war in Ukraine, labor disputes and increasingly severe weather — all of which amplify the need for a digital freight revolution that brings the efficiency, agility and visibility that supply chains need to navigate volatility, Zvi Schreiber, CEO of global freight booking and payment platform Freightos, said in a recent press release.
Read more: Freight Platforms Show Buoyancy on Land, Sea and Air
Freightos announced Tuesday (Aug. 9) that it is expanding its scope beyond the sea and beneath the air to land transportation by virtue of a recent acquisition.
In other recent news in the space, Vector.ai announced Aug. 4 the introduction of payment integrations to its productivity platform for freight forwarders.
See also: Vector.ai Adds AI Finance Tool to Platform for Freight Forwarders
“Through these integrations, we are bringing a sophisticated and well-rounded [artificial intelligence] finance tool that will not only allow forwarders to lessen the burden on their physical labor and provide actionable data into freight spends, but also automate payments,” Vector.ai Co-Founder and CEO James Coombes said in a press release.
