Strength in Airfreight, Weakness in Ocean Mark Expeditors’ Strong First Quarter
Expeditors International of Washington (NYSE: EXPD), a key player in global logistics for freight forwarders and truck drivers handling intermodal loads, reported contrasting performance between airfreight and ocean freight in the first quarter. Air operations showed growth and improved profitability, while ocean freight faced declines in both volume and revenue.
Airfreight tonnage, measured in kilos, increased steadily through the quarter compared to the same period in 2025. January saw a 7% rise, February matched that with another 7% gain, and March posted a 3% increase. This resulted in an overall 5% growth for the quarter.
Profitability per kilo in airfreight improved due to higher rates and a more stable balance between selling and buying prices. According to Expeditors CEO Jeffrey Wall, this stability held for the first two months, as air capacity remained less constrained until the conflict in the Middle East began impacting operations.
For truck drivers coordinating with forwarders like Expeditors, this airfreight strength means more consistent drayage and pickup opportunities at airports. Stable pricing in the early months allowed for predictable margins on air-to-ground transfers, even as later disruptions emerged.
Ocean freight told a different story. Wall noted that an imbalance between global capacity and demand, which started in the latter half of 2025, persisted into the first quarter. This oversupply pressured the industry, leading to a decline in Expeditors’ ocean revenues.
Volume was not the only factor declining. Wall emphasized that other components contributed to the downturn, reflecting broader challenges in ocean container markets. For drivers involved in port trucking, this signals softer demand for container hauls, with excess vessel capacity keeping rates low and volumes subdued.
Expeditors’ quarterly earnings report highlights these divergent trends: airfreight moving upward amid capacity dynamics and external events, while ocean freight continued to grapple with supply-demand mismatches. The company’s overall first-quarter results were described as strong, buoyed by air performance despite ocean headwinds.
Professional drivers monitoring freight forwarder reports like this one can gauge intermodal trends. Air growth often correlates with urgent shipments requiring quick ground support, whereas ocean softness may mean fewer heavy-haul opportunities from marine terminals.
Wall’s comments provide context on why these shifts occurred. In air, early-quarter balance supported profitability until Middle East tensions tightened capacity. In ocean, the capacity glut from late 2025 carried over, eroding revenues across metrics.
For the trucking community, Expeditors’ experience underscores the value of diversified loads. Drivers with access to airfreight gateways may find steadier work, while those reliant on ocean ports navigate reduced volumes. This split performance reflects global logistics realities, where air and sea modes respond differently to capacity and geopolitical pressures.
The first-quarter data offers a snapshot for planning. Airfreight’s 5% tonnage gain, with per-kilo gains from rates and pricing stability, contrasts sharply with ocean’s multi-faceted declines. Truckers partnering with forwarders can use this to prioritize routes and anticipate load availability.