Double digit boost for Expeditors

Expeditors International recorded double digit volume growth for both air and ocean freight in the 2014 third quarter, the first time this has happened since the last three months of 2010.
The US-based global logistics operator said: "These 2014 third quarter results have given us a great deal of confidence,” adding that it also  saw double digit increases in both revenue and net income growth during Q3.
Expeditors’ president and chief executive Jeffrey Musser said: “Firmer ocean pricing offset tightening margins in airfreight while customs brokerage and other services benefited commensurately with air and ocean volume increases."
Musser continued: “Looking forward to the fourth quarter, we are taking these third quarter results in our stride. As we’ve said for years, trying to predict trends in these very fast changing air and ocean freight markets is futile.
“While heartened by the strength of ocean freight in the third quarter, so much of how the fourth quarter will turn out will depend on circumstances that are still playing out in the airfreight markets.
“Airfreight pricing is still very volatile. New product launches and increases in global demand certainly played out well in the third quarter. The fourth quarter, with less seasonal ocean freight and more airfreight emphasis, has many more dynamics for us to manage. We are also keenly aware of the well-reasoned concerns about the state of the global economy.”