Sydney, May 14, 2026, 07:03 AEST
- WiseTech Global fell 3.2% to A$38.53 on Wednesday, extending a two-day slide to nearly 9%.
- DSV has confirmed plans to move its Air & Sea transport system from CargoWise One to Tango, The Loadstar reported.
- The selloff puts new pressure on WiseTech’s AI-led restructuring and FY26 growth targets.
WiseTech Global shares fell for a second straight session after DSV, one of the world’s largest freight forwarders, confirmed a shift away from WiseTech’s CargoWise platform toward its own Tango and Star systems.
The stock closed down 3.2% at A$38.53 on Wednesday, after losing 5.9% a day earlier, exchange data compiled by StockAnalysis showed. The move left the logistics software group down about 8.9% over two sessions.
The timing matters. WiseTech has spent months telling investors that artificial intelligence will deepen its hold on customers and lift margins. DSV’s move cuts across that argument by showing a top-tier forwarder willing to take more control of its core technology stack.
At its Capital Markets Day on May 12, DSV laid out a “count-to-one” technology plan, The Loadstar reported. The plan showed DSV’s Air & Sea division moving from two transport management systems, or TMS platforms used to plan and run freight moves, to one system, with “CargoWise One → Tango” on the slide. The Loadstar
DSV said its broader “Leverage to Lead” strategy would use AI and technology to lift productivity and optimise its network after the Schenker integration. The Danish group expects AI, technology and network improvements to deliver about DKK 9 billion in productivity gains by 2030, according to a company announcement. GlobeNewswire
The read-through for WiseTech was immediate. MarketIndex listed WiseTech among Wednesday’s notable fallers and said DSV’s transition away from CargoWise could reduce CargoWise-related revenue by about $40 million to $50 million over five to six years.
WiseTech is still a large, closely watched ASX technology stock. The company said in a May presentation that it serves more than 22,000 logistics companies and industry participants across 193 countries, including 23 of the 25 largest global freight forwarders, and that its e2open acquisition expanded its network to more than 500,000 connected enterprises.
The company also told investors that “agentic AI” could drive customer efficiencies and said AI workflow tools had the potential to remove up to about 50% of labour costs for logistics service providers. Those are company estimates, not independent forecasts.
In February, WiseTech reaffirmed FY26 guidance for revenue of $1.39 billion to $1.44 billion and EBITDA — earnings before interest, tax, depreciation and amortisation, a common operating-profit measure — of $550 million to $585 million. The guidance excluded the impact of planned headcount reductions in product development and customer service.
Chief Executive Zubin Appoo said then that WiseTech was “confident in our outlook” and that AI was strengthening the business. He also said “the era of manually writing code as the core act of engineering is over,” as the company announced a programme likely to cut about 2,000 roles across FY26 and FY27.
The competitive question is whether WiseTech’s depth in logistics software still outweighs the cost case for very large customers to build or own more technology themselves. Jefferies analysts Roger Samuel and Lucy Krimmer argued in February that WiseTech was the Australian software name most resilient to AI disruption because global logistics workflows are highly complex, while seeing Xero as more exposed among peers.
But DSV is a hard test of that thesis. If the migration works, other large forwarders could take another look at their dependence on outside systems, especially as AI lowers the perceived cost of building software. WiseTech’s own guidance also warns that changes in industrial production or global trade could affect results.
For now, investors are marking the stock on execution risk: how fast DSV leaves, how much revenue is lost, and whether WiseTech’s AI push and e2open integration can offset the damage. That is the issue hanging over the shares before the next trading session.
