Expeditors International of Washington, Inc. provides global logistics services. The company offers its customers an international network of people and integrated information systems supporting the movement and strategic positioning of goods. The company’s primary services include airfreight, ocean freight and ocean, and customs brokerage and other services. It also provides services, such as temperature-controlled transit, cargo insurance and customized logistics solutions. Airfreight Services When performing airfreight services, the company typically acts either as a freight consolidator or as an agent for the airline which carries the shipment. When acting as a freight consolidator, the company purchases cargo space from airlines on a volume basis and resells that space to its customers at lower rates than the customers could obtain directly from airlines on an individual shipment. The company issues a House Airway Bill to its customers as its contract of carriage and separately receives a Master Airway Bill from the airlines when the freight is physically tendered. 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. The company estimates its average airfreight consolidation weighs approximately 2,800 pounds and a typical consolidation includes merchandise from various shippers. It typically delivers shipments from one of its warehouses to the airline after consolidating the freight into containers or onto pallets. Shipment would then arrive at the destination distribution point within 48 hours from the point of origin. The company provides ancillary services, including 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. Ocean Freight and Ocean Services The company operates Expeditors International Ocean, Inc. (EIO), an ocean transportation intermediary (OTI), sometimes referred to as a non-vessel operating common carrier (NVOCC), which specializes in ocean freight services in major trade lanes in the world. EIO also provides service, on a smaller scale, to and from any location where the company has an office or agent. Ocean freight services are comprised of three basic services, including ocean freight consolidation (EIO), direct ocean forwarding and order management. Ocean Freight Consolidation: As an NVOCC, EIO contracts with ocean shipping lines to obtain transportation for a fixed number of containers between various points during a specified time period at an agreed rate. EIO provides full container load services to companies that need flexibility and access to vessel capacity that they might not necessarily achieve by dealing directly with the shipping lines. Additionally, EIO supports customers that prefer to supplement their carrier strategy with an NVOCC. EIO also utilizes the company’s global gateway network for the movement of less-than container load freight for customers needing to ship smaller consignments through ocean. 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. Direct Ocean Forwarding: When the customer contracts directly with the steamship line, the company acts as an agent of the customer. In such arrangements, the company does not issue an HOBL or H
expeditors intl wash inc
(EXPD:Consolidated Issue Listed on NASDAQ Global Select )
1015 Third Avenue
Seattle, WA 98104
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