NCL International Logistics

What NCL International Logistics does

NCL International Logistics Public Company Limited is a Bangkok-headquartered, Thailand-listed (MAI: NCL) freight forwarding and logistics group that has operated for more than 30 years since its founding by Kitti Phatthawornsakul. The company provides international and domestic freight management across three transport modes — air, sea, and land — with sea freight coverage spanning five continents and more than 180 major ports. Service modules include Full Container Load (FCL), Less than Container Load (LCL), Shipper Owned Container (SOC), customs brokerage, door-to-door delivery, container rental, and domestic trucking, supported by service points such as the Laem Chabang facility in Chonburi Province. Its core go-to-market is sales-led direct delivery to manufacturers, traders, and import/export businesses, leveraging its own branch offices in target countries combined with international agent partnerships.

The group's revenue mechanics are transaction-based: pricing is quote-driven (not publicly disclosed), determined per shipment by route, cargo type, and volume, and NCL books freight-forwarding fees for the planning, management, and consulting work to move goods from origin to destination. The company is registered as a public limited company on Thailand's MAI exchange since November 11, 2014, with 528.23 million shares outstanding at 0.25 baht par value and registered capital of 132.06 million THB. It monetizes primarily through its core logistics management services while generating secondary revenue from adjacent services and non-logistics investments.

NCL's operating model is executed through an integrated corporate group of 11 entities — including wholly-owned operating subsidiaries (Meta Freight & Logistics, NCL Inter Logistics Singapore, World Pro Link, Golden Supply, Legend Shipping Thailand, Legacy Asia Capital), joint ventures (ZIM Thailand with Israeli carrier ZIM Integrated Shipping; SSK Inter Logistics), and minority/non-core holdings (Grace Water Med for dialysis fluids, Cheese Digital Network for digital marketing). The corporate footprint extends beyond Thailand to Singapore and India (established 2023), with global distribution executed through partner agents across Europe, the Americas, Asia, Australia, and Africa. Strategic carrier partnerships include an exclusive Thailand air-freight GSA with EL AL Israel Airlines (since November 2019) and the ZIM maritime JV, while non-core diversification includes water purification, digital marketing, and IT services.

Name

NCL International Logistics

Legal name

NCL International Logistics Public Company Limited

Website

https://nclthailand.com

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

101–250 employees

Short description

NCL International Logistics is a Thailand-based, MAI-listed freight forwarder providing international air, sea, and land transport plus customs brokerage to manufacturers, traders, and import/export businesses across five continents.

Ownership category

akta.pro rank

Product category

Freight Forwarding and Logistics Services

NAICS

Freight Transportation Arrangement (488510), General Freight Trucking, Long-Distance (48412)

SIC

Arrangement Of Transportation Of Freight & Cargo (4731), Trucking (No Local) (4213)

akta.pro primary industry

FCL (Full Container Load) Ocean Forwarding (TLACABAA)

akta.pro secondary industries

LCL (Less-than-Container Load) Consolidation/Deconsolidation (TLACABAB), Customs Brokerage for Ocean Shipments (Import/Export Clearance) (TLACABAG), Ocean Export Forwarding (Booking/VGM/SI/BL) (TLACABAF), FCL Aggregation / Co-Loading & Space Brokerage (TLACALAF)

Keywords

• Freight forwarding services
• Sea air land logistics
• Customs clearance services
• International container shipping
• Logistics management services

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. International Freight Management Services: Core revenue from providing comprehensive logistics management including planning, management, and consulting services to ensure efficient goods movement from origin to destination with shortest time and lowest cost. Revenue structure includes: international transport management, sea freight, air freight, domestic transport, and other services.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

NCL International Logistics is a comprehensive logistics solution provider offering freight forwarding services across sea, air, and land transport modes. The company provides international container shipping (FCL, LCL, SOC), domestic trucking, customs brokerage, door-to-door delivery, and container rental, covering more than 180 major ports across five continents. The group operates through multiple subsidiaries and joint ventures to deliver end-to-end supply chain services from Thailand to global destinations.

Product overview

NCL International Logistics is a comprehensive logistics solution provider offering a unified platform of freight and logistics services. The core service portfolio includes international air freight, international sea freight (FCL, LCL, SOC), and domestic land freight services, complemented by supporting services such as customs brokerage, door-to-door delivery, and container rental. The company operates through multiple subsidiaries and joint ventures including Meta Freight and Logistics (freight forwarding), NCL Inter Logistics Singapore (regional hub), ZIM Thailand (shipping agency joint venture), Golden Supply (fulfillment), Cheese Digital Network (digital services), and others. The company went public on the MAI stock exchange in 2014 and has expanded through strategic acquisitions to build an integrated logistics ecosystem.

Differentiator

Problem solved

Functional benefit

Products and services

• International Air Freight Services Fast international shipping service for high-value goods, suitable for cargo requiring shorter transit times than sea freight.
• International Sea Freight Services Comprehensive ocean freight services covering 5 continents (Europe, America, Asia, Australia, and Africa) with more than 180 major ports, including Full Container Load (FCL), Less than Container Load (LCL), and Shipper Owned Container (SOC) options.
• Domestic Land Freight Services Domestic trucking services for cargo movement within Thailand, including empty container pickup and delivery in the Laem Chabang area.
• Customs Brokerage Services Customs clearance services and customs declaration representation for import/export customers moving goods across international borders.
• Door-to-Door Delivery Services Complete door-to-door delivery services covering origin pickup, international transport, customs clearance, and final delivery to the destination.
• Container Rental Services Container rental and leasing services provided to shippers for cargo transport operations.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• EL AL Israel Airline Ltd.coreChannel Partner/ Reseller/ Distributor · 1 November 2019Exclusive air freight service provider agreement for Thailand. EL AL Israel Airline appointed NCL as their sole air freight service provider in Thailand, effective November 1, 2019.
• ZIM Integrated Shipping Service Limited (ZIM)coreStrategic or Co-development Partner · 1 January 2017Joint investment with Israeli shipping line ZIM to establish ZIM (Thailand) Co., Ltd. for maritime container freight forwarding agency services.
• LEGEND SHIPPING PTE. LTD.minorStrategic or Co-development Partner · 11 March 2016Co-investment with LEGEND SHIPPING PTE. LTD. (Singapore) to establish Legend Shipping (Thailand) Co., Ltd. and Legacy Asia Capital Pte. Ltd. in Singapore.
• SSK Inter Logistics Co., Ltd.minorStrategic or Co-development PartnerJoint investment in SSK Inter Logistics Co., Ltd. as an associated company on January 27, 2016 with registered capital of 1 million THB.
• Grace Water Med Co., Ltd. (GWM)minorOthersJoint investment with GWM at 44.44% stake, acquiring additional shares in 2017 for 17.78 million THB. GWM manufactures and distributes dialysis fluids and related equipment.

Scale indicators4 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Expeditors International of Washington: US-listed global freight forwarder providing airfreight, ocean freight, and customs brokerage across an asset-light model. Closely matches NCL's service mix and asset-light partner-driven network approach.
• Kuehne+Nagel International AG: One of the world's largest global freight forwarders offering integrated sea, air, and overland forwarding plus customs brokerage. Directly comparable to NCL across FCL/LCL ocean, air freight, and customs services, but operating at vastly greater global scale.
• CEVA Logistics: CMA CGM-owned global logistics provider spanning ocean/air forwarding, contract logistics, and ground transportation. Comparable service architecture to NCL but at end-to-end global scale.
• DHL Global Forwarding: Division of Deutsche Post DHL offering worldwide air, ocean, and road freight forwarding plus customs clearance. Directly comparable in core services, vastly larger scale and brand recognition than NCL.
• Nippon Express Holdings: Japanese global logistics group offering international freight forwarding (ocean/air), warehousing, and moving services. Highly comparable multi-modal model, but with established global network rather than NCL's partner-mediated coverage.
• Sinotrans Limited: China's largest freight forwarder offering ocean/air forwarding, container shipping agency, and logistics parks. Comparable to NCL on ocean forwarding and shipping agency services (similar to NCL's ZIM JV model).

Direct peers

• Kerry Logistics Network: Asia-headquartered freight forwarding and logistics group with strong intra-Asia and China-out freight services. Highly comparable to NCL on regional forwarding, multi-modal, and customs brokerage, with stronger China exposure.
• Yusen Logistics: Japan-based global logistics provider offering international freight forwarding (air, ocean), customs brokerage, and contract logistics. Comparable to NCL on multi-modal forwarding, though at much larger scale and broader geographic reach.

Regional players

• JWD Info Logistics: SET-listed Thai logistics group offering domestic and international freight, warehousing, and supply chain services. The closest publicly-traded Thai domestic peer to NCL, with overlapping customs brokerage and forwarding activity.
• WICE Logistics: SET-listed Thai international freight forwarder providing sea, air, and land freight services plus customs brokerage. Directly comparable Thai-scale ocean and air forwarder competing head-to-head with NCL in Bangkok.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NCL International Logistics