Profile: Expeditors International of Washington Inc (EXPD.OQ)
Expeditors International of Washington, Inc., incorporated on May 29, 1979, is a logistics company. The Company is a third party logistics provider, and purchases cargo space from carriers, including airlines and ocean shipping lines on a volume basis and resells that space to its customers. The Company provides a range of customer solutions, such as order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance and customized logistics solutions. In addition, the Company's Project Cargo unit handles special project shipments that move through a single method or combination of air, ocean, and/or ground transportation. The Company's primary services include airfreight services, ocean freight and ocean services, and customs brokerage and other services. The Company is managed along five geographic areas: the Americas; North Asia; South Asia; Europe, and the Middle East, Africa and India.
The Company provides airfreight services and acts either as a freight consolidator or as an agent for the airline, which carries the shipment. As a freight consolidator, the Company purchases cargo space from airlines on a volume basis and resells that space to its customers. As a freight forwarder, the Company receives and forwards individual, unconsolidated shipments as the agent of the airline that carries the shipment.
The Company issues a House Airway Bill (HAWB) to its customers as the contract of carriage and separately receives a Master Airway Bill from the airline when the freight is physically tendered. When moving shipments between points where the nature or volume of business does not facilitate consolidation, it receives and forwards individual shipments as the agent of the airline, which carries the shipment. Whether acting as a consolidator or agent, the Company offers its customers knowledge of optimum routing, familiarity with local business practices, knowledge of export and import documentation and procedures, the ability to arrange for ancillary services, and assistance with space availability in periods of peak demand.
In its airfreight operations, the Company receives shipments from its customers, determines the routing, consolidates shipments bound for a particular airport distribution point, and selects the airline for transportation to the distribution point. At the distribution point, the Company or its agent arranges for the consolidated lot to be broken down into its component shipments and for the transportation of the individual shipments to their final destinations.
Ocean Freight and Ocean Services
The Company operates Expeditors International Ocean, Inc. (EIO), an Ocean Transportation Intermediary, also known as Non-Vessel Operating Common Carrier (NVOCC), which specializes in ocean freight services in trade lanes across the world. EIO also provides service, on a smaller scale, to and from any location where the Company has an office or agent. Its ocean freight services consist of three basic services: ocean freight consolidation (EIO), direct ocean forwarding and order management.
The Company's ocean freight consolidation is an NVOCC, EIO contracts with ocean shipping lines to obtain transportation for a fixed number of containers between various points. EIO provides full container load services to companies that need flexibility and access to vessel capacity that they may not necessarily achieve by dealing directly with the shipping lines. Additionally, EIO supports customers that prefer to supplement their carrier strategy with an NVOCC. The Company issues a House Ocean Bill (HOBL) or a House Seaway Bill to customers as the contract of carriage and receives a separate Master Ocean Bill of Lading (MOBL) when freight is physically tendered. It offers ancillary services, such as the preparation of shipping and customs documentation, packing, crating, insurance services, negotiation of letters of credit, and the preparation of documentation to comply with local export laws.
When the customer contracts directly with the steamship line, the Company acts as an agent of the customer and derives its revenues from commissions paid by the steamship line and handling fees paid by the customer. In such arrangements, the Company does not issue an HOBL or House Seaway Bill. Rather, the carrier issues a MOBL directly to the customer who employs the Company to create documentation, manage shipment information and arrange various services to facilitate the shipment of goods. The MOBL shows the customer as the shipper.
Order management provides services that manage origin consolidation, supplier performance, carrier allocation, carrier performance, container management, document management and destination management through a Web-based application. Customers have the ability to monitor and report against near real-time status of purchase orders from the date of creation through final delivery. Order management is available for various modes of transportation, including ocean, air, truck and rail.
Customs Brokerage and Other Services
The Company assists importers to clear shipments through customs by preparing required documentation, calculating and providing for payment of duties and other taxes on behalf of the importer, arranging for any required inspections by Governmental agencies, and arranging for delivery. The Company provides customs clearance services in connection with shipments it handles in its transportation services. The Company also provides other services at destination, such as warehousing and distribution, time-definite transportation services (Transcon) and consulting services. The Company's distribution and warehousing services include distribution center management, inventory management, order fulfillment, returns programs and order level services. Transcon is a multi-modal product, which offers time-definite, intra-continental transportation solutions, often by ground and other specialty handling services.
Expeditors International of Washington Inc
1015 3rd Ave Fl 12
SEATTLE WA 98104-1184