First-half 2025 issue
M&A activity in the global transport and logistics industry remains low
In the first half of 2025, only 93 transactions were announced, marking a decline compared to the previous half-year, which recorded 108 mergers and acquisitions. Concurrently, the deal volume rose to $57.9 billion – a notable increase from the second half of 2024 ($49.2 billion). This rise is attributed to eleven megadeals with volumes of at least one billion USD, constituting 62 percent of the total volume.
Shipping leads in transaction volume
Logistics & Trucking continues to be the most active subsector: This segment accounted for 42 transaction announcements, comprising 45 percent of all deals. However, its share in transaction volume decreased, capturing only 23 percent (2024: 52 percent). The highest transaction volume was achieved in the Shipping sector: Since January, this sector has seen 18 announced mergers and acquisitions totaling $26.4 billion – a relatively low level of activity, albeit with several high-value deals.
The largest transaction announcement in the first half of 2025 targets a maritime infrastructure asset: An investor group led by US asset manager BlackRock intends to acquire 90 percent of the shares in the Panama Ports Authority for $19.21 billion, thereby securing influence over this strategically important target.
Opportunities for risk-tolerant, well-capitalized companies
Companies in the transport and logistics industry face the task of continuous adjustment amid volatile conditions. This task includes the reassessment of business models:
“The current environment offers risk-tolerant and well-capitalized companies the chance to expand through acquisitions. The key now is to swiftly identify the right targets.”
