What is Expeditors International? Expeditors International Review

Company Introduction

Expeditors International was established in Seattle, Washington, the capital of the United States. The company started by integrating customs clearance services and freight services. As the company developed and went public, its business expanded from customs clearance to air and sea freight, freight forwarding, insurance, distribution, supply chain software and other services, while its core business is still transportation services.

Business Introduction

The company's services include air transportation, ocean transportation (consolidation services) and freight forwarding. Each office in the United States and many overseas offices provide customs clearance services, as well as distribution management, consolidation, cargo insurance, order management and customer-centric logistics information services.

In terms of business types, it is mainly concentrated in air transport, ocean transport and freight forwarding, accounting for 63%, 25% and 12% of revenue respectively. In terms of regional distribution, it is mainly concentrated in the Far East, accounting for 56%, while the revenue in the United States, Europe and the Middle East, South America and Australia account for 25%, 15%, 2% and 1% respectively.

Development History

Expedia was founded in Seattle, Washington in 1979. It was one of the first companies to integrate customs clearance and freight forwarding.

In 1984, Expeditor went public, with shares trading on NASDAQ (EXPD). In its first year as a public company, Expeditors reported gross revenues of more than $50 million and net income of $2.1 million.

In 1985, Expeditors expanded its ocean freight business by acquiring Pac Bridge, a major non-vessel ocean common carrier (NVOCC).

In 1993, the company expanded into China after Beijing granted Expeditors a rare "A" class license.

In 1995, Expeditors launched its cargo insurance (ECIB) division. Total company revenues exceed $500 million. Global expansion continues with the addition of markets in Central and South America. CEO Peter Ross declares, "Our business is based entirely on service and understanding our customers."

1998: Total revenues reach a record $1 billion. New world headquarters opens in downtown Seattle, Washington.

In 2000, Washington CEO Magazine recognized Expeditors with the "Best Company to Work For" award.

In 2002, gross revenues reached a record $2 billion ($2,296,903,000) and net earnings exceeded $100 million ($112,529,000). Expeditors was listed on the NASDAQ-100 Index.

In 2004, total revenues reached a record $3 billion ($3,317,499,000); net income reached $156,126,000; and the number of employees exceeded 9,000.

In 2005, Forbes ranked Expeditors as the best managed transportation company. The Wall Street Journal ranked Expeditors first in its shareholder scorecard for delivery services, beating out UPS and FedEx.

In 2006, Expeditors entered the Fortune 500 list for the first time with revenues of $4.6 billion. Fortune magazine also named Expeditors the most admired company in its industry.

In 2009, Expeditors opened a disaster recovery center in Spokane, Washington to manage all global backup IT needs.

In 2010, revenue reached $6 billion.

In China

In 1993, the Beijing branch was established and named Beijing Kangjiekong Freight Forwarding Co., Ltd. It is the first-class freight forwarding company of Expeditors International in China. This is the first time that Expeditors International entered the Chinese logistics market.

In 1994, branches were established in Hong Kong and Taipei;

1994 Beijing Conjie Air Freight Forwarding Co., Ltd. Shanghai Branch

In 1997, Beijing Kangjiekong Freight Forwarding Co., Ltd. Tianjin Branch was established;

In 1996, the Beijing branch was added and new subsidiaries were established in four major cities in China, bringing the number of representative offices in China to 8;

In 2008, Expeditors invested in the construction of its Asia headquarters and R&D center in the Linkong Development Park in Changning District, Shanghai, which is also the headquarters of its Shanghai branch.

There are 11 branches in China including Beijing, Dalian, Tianjin, Qingdao, Xi'an, Nanjing, Shanghai, Xiamen, Guangzhou, Shenzhen, Dongguan, and 7 representative offices in Chengdu, Fuzhou, Hangzhou, Kunshan, Ningbo, Suzhou, and Zhongshan.