Expeditors International

Freight forwarding prices are tied to buy‑rates and sell‑rates set by carriers and market capacity, which limits unilateral pricing. Q4 2025 ocean average revenue per container fell 41 percent year over year and 17 percent sequentially, pressuring margins.

Air margins also dipped as buy rates rose with demand; management later noted early 2026 air margin recovery. In contrast, customs brokerage and value‑added services are complexity‑priced and showed double‑digit growth in 2025, supporting some latent pricing power in that mix.

Net effect: modest pricing power overall, with pockets of strength in compliance‑driven services.