Analysis: friendly 'Trump trade' boost for unfriendly Expeditors?
Offsetting adjustments
WTC: PUNISHEDVW: UNDER PRESSUREKNIN: APAC LEADERSHIP WATCHZIM: TAKING PROFITPEP: MINOR HOLDINGS CONSOLIDATIONDHL: GREEN DEALBA: WIND OF CHANGEMAERSK: BULLISH CALLXPO: HEDGE FUNDS ENGINEF: CHOPPING BOARDWTC: NEW RECORDZIM: BALANCE SHEET IN CHECKZIM: SURGING TGT: INVENTORY WATCHTGT: BIG EARNINGS MISS
WTC: PUNISHEDVW: UNDER PRESSUREKNIN: APAC LEADERSHIP WATCHZIM: TAKING PROFITPEP: MINOR HOLDINGS CONSOLIDATIONDHL: GREEN DEALBA: WIND OF CHANGEMAERSK: BULLISH CALLXPO: HEDGE FUNDS ENGINEF: CHOPPING BOARDWTC: NEW RECORDZIM: BALANCE SHEET IN CHECKZIM: SURGING TGT: INVENTORY WATCHTGT: BIG EARNINGS MISS
Premium sources have passed on a statement from Expeditors, according to which:
“Expeditors is currently managing a global systems downtime due to a targeted cyber-attack. We are working with global cybersecurity experts to manage through the situation.
“Our global operations will be impacted throughout the incident, and we are working urgently to resolve.
“Systems may be unavailable during this time, as we assess and stabilize, the safety of our global environment, backup procedures are being implemented.
“Further communications will be sent as the situation evolves.”
(Released on 02.20.22 @ 12:49pm)
“We were informed locally they switch to manual mode,” the sources added.
(Here is the official announcement released on 20 February @ 10:26 PM Eastern Standard Time.)
UPDATE 1: Downtime notification/02.21.2022 –> 1:43pm
The 3PL told its clients that:
“Expeditors’ global network continues to work diligently through our crisis management and business continuity response plans.
“We appreciate the immediate support and collaboration from our customers, employees, service providers and other key stakeholders.
“Our global operations continue to be impacted. We are working with urgency to support ongoing business needs. Further communications will be shared as the situation continues to evolve.”
UPDATE 2: Downtime notification/02.22.2022 –> 1:00pm
“The Expeditors network is operating under our global business continuity plan.
“Our employees continue to leverage backup procedures and alternative solutions to support our customers and stakeholders.
“Cybersecurity and Information Technology experts and partners are focused on remediation efforts across our systems. We appreciate everyone’s support and collaboration. Additional updates will follow as the situation evolves.”
In a 8-K SEC filing also released on 22 February, it added:
“While our systems are shut down we will have limited ability to conduct operations, including but not limited to arranging for shipments of freight or managing customs and distribution activities for our customers’ shipments.
“Since it is extremely early in the process, we cannot provide any specific projections on when we might be operational, but we will provide regular updates when we are able to do so confidently. We are incurring expenses relating to the cyber-attack to investigate and remediate this matter and expect to continue to incur expenses of this nature in the future.“
Being updated, on merit.
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