Damco

Damco truck trailer

Damco is the second of two Netherlands-based firms to make the JOC’s Top 40 Global 3PLs list. It sits at No. 23 as a result of its $3.2 billion in revenue in 2013. Damco, the third-party logistics subsidiary of Maersk Group, provides freight forwarding and logistics solutions from its headquarters in The Hague, Netherlands.

Damco and its 11,400 employees operate out of 93 countries and 300 offices around the world. In 2013, Damco’s revenue fell 1 percent to $3.21 billion from 2012’s $3.23 billion. The company attributed this to restructuring, such as consolidating locations, and the implementation of a new information technology system to track orders.

22 Sep 2016
Maersk Group will be reorganized into two separate divisions, with the synergy efforts expected to deliver cost savings of around $600 million over the next three years.
The synergies APM Terminals provides for Maersk Line make it unlikely the Maersk Group will choose to divest itself of its terminal operating arm.
17 Aug 2016
Maersk will announce the results of its ongoing strategic and structural review of group operations at the end of September.
Damco's strong performance could renew speculation that the Maersk Group will try to sell the unit as the company is in the middle of a strategic and structural review.
12 Aug 2016
Damco’s recovery continued as it was the only Maersk Group unit to boost earnings in the second quarter of 2016.
11 Aug 2016
Analysts do not expect Maersk Line to come out of the second quarter in the black.
Chemical shippers have been some of the biggest fans of Damco's Hub-in-Transit program.
15 Jul 2016
Damco has established three new global hubs to expand its Hub-in-Transit program.
14 Jun 2016
Damco, the global logistics and freight forwarding group, Tuesday launched container weighing services.
04 May 2016
Damco profit jumped triple digits in the first quarter.
11 Mar 2016
The U.S. government has fined two Maersk Group units a total of $3.66 million for documentation violations related to a defense contract the company described as “the submission of improper invoices.”
10 Feb 2016
Damco posted a $19 million profit in 2015, reversing a 2014 loss of $293 million in what Maersk Group CEO Nils Andersen called “an early sign” that the forwarder’s two-year turnaround program is working.
28 Jan 2016
Global logistics companies continue to pile into the Asia e-commerce market, with Damco launching a China solution and DHL expanding its growing presence in the region deeper into Thailand.
06 Nov 2015
Damco’s recovery gathered pace in the third quarter with the Maersk Group’s freight forwarding and logistics unit swinging to a $20 million profit from a $68 million loss a year ago.
13 Aug 2015
Damco posted a rare profit in the second quarter as Maersk’s troubled freight forwarding and logistics arm reaped the benefits of a radical restructuring program.