DSV – Global Transport and Logistics’ acquisition of DB Schenker has been approved by the European Commission without comment. Is it surprising that combining the third- and fourth-largest freight forwarders globally has not bought great scrutiny?
Together, they will control roughly 8–9% of a global freight forwarding market (worth over $160 billion annually), showing just how fragmented the sector still is
But beneath the headline, this deal poses some real tests for DSV.
🛒 Customer loyalty is not guaranteed. Many large shippers deliberately split volumes across providers to avoid over-reliance, and Schenker’s long-standing industrial contracts could come under pressure as companies re-open tenders
🎭 Culturally, DSV’s leaner, fast-paced style must absorb Schenker’s more traditional, state-influenced DNA. It is a difficult balancing act.
🚛 DSV’s asset-light model (particularly traction) could be at odds with Schenker’s heavy footprint: over 2,000 owned trucks and control of significant rail freight operations in Europe.
🧑🏭 Labour relations may also get complicated. In Germany alone, over 15,000 Schenker employees are unionised. Integration risks sparking unrest if job cuts or relocations follow.
💻 Technology is another hidden concern. DSV have a patchwork of IT solutions driven through previous acquisitions. Will Schenker’s be migrated across or replaced?
🏤 While European approval is critical with the biggest potential overlaps, DSV still faces reviews in the US, China and other key markets. Local regulators could impose remedies, particularly in major air and ocean freight corridors, where scale advantages are most pronounced.
🥇 How will competitors react? Rivals like Kuehne+Nagel, DHL and A.P. Moller – Maersk are unlikely to let DSV strengthen its position without responding through price competition, aggressive retention moves or acquisitions of their own
This is a bold move, at a time of global trade turmoil, that could reshape global logistics — but with a $160 billion prize on the table, the real test will be whether DSV can execute faster than it inherits new risks.
By Chris Clowes
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