Latest news with #freightforwarding
Daily Mail
3 days ago
- General
- Daily Mail
Seven men charged after cops bust alleged plot to bring in more than 300kg of drugs from overseas - and the shocking discovery in a shipment from Canada
Seven men have been charged after allegedly plotting to bring more than 300kg of illicit drugs into Australia. Since September 2023, detectives were investigating a 42-year-old man and his associates for allegedly importing and supplying large amounts of prohibited drugs and illicit tobacco. The men were allegedly claiming to have the ability to circumvent border controls with shipments coming in from Canada, the United Arab Emirates and Panama. Police allege the 42-year-old man was using a freight forwarding company in Punchbowl, south west of Sydney, to import the drugs. More than 280kg of liquid methamphetamine was located in an industrial cooler imported from Vancouver, Canada, in July 2024, allegedly organised by the man. Police continued their investigation into the man who allegedly continued to use the freight forwarding company. Over three separate consignments, the man allegedly imported more than 20 million cigarettes from the United Arab Emirates. In May, investigators established the man was planning to import 50kg of cocaine concealed in cement bags loaded in a shopping container from Panama. Police allege the man asked two other men - who flew to Australia from Canada - to help retrieve the cocaine from the cement bags and to help supply it to organised crime groups in NSW. Investigators arrested four men at about 2pm on Friday after executing six search warrants in Moorebank, Punchbowl, Smithfield, Doonside and Mt Annan.
Zawya
21-05-2025
- Business
- Zawya
Jordan: 348,562 clearance transactions processed in first third of 2025
AMMAN — The customs clearance and freight forwarding sector processed 348,562 transactions during the first third of 2025, marking a year-on-year increase of 59,641 transactions, according to data compiled by the Association of Owners of Clearance and Transport Companies. Association president Dhefallah Abu Aqouleh said that the rise reflects 'growing' activity at customs and border centres across the Kingdom, the Jordan News Agency, Petra, reported. Transit transactions alone reached 119,148 in the first four months of 2025, up from 69,901 over the same period in 2024, marking an increase of nearly 50,000, Abu Aqouleh said. Export-related transactions also saw moderate growth, reaching 52,357 compared with 49,901 a year earlier, he noted. Abu Aqouleh said that the data revealed that Aqaba customs centre processed 61,689 transactions, an increase of 12,519 from last year. The association president added that Omari customs centre, which serves as a 'key' gateway to Saudi Arabia and the Gulf region, recorded 85,314 transactions, up 34,797 from the same period in 2024. Jaber customs centre, linking Jordan and Syria, handled 15,846 transactions, a rise of 9,361, while Amman's Madouneh customs centre processed 29,563 transactions, up 5,051, he added. Abu Aqouleh noted that the sector also recorded a 'significant' growth in cross-border truck traffic, where the number of trucks entering, exiting, or transiting through Jaber customs centre reached 58,085 by mid-May, compared with 17,035 over the same period last year. At the Omari centre, truck movement climbed to 113,610 from 102,033, recording an increase of 11,577. Abu Aqouleh attributed the increase to 'improved' performance in Jordanian exports and renewed transit trade momentum, particularly following recent developments in Syria. He said that expectations for continued growth are 'strong,' especially in light of regional efforts to ease economic sanctions on Syria. "The anticipated lifting of sanctions on Syria is likely to generate a direct and positive impact on the customs and logistics sectors, reviving transit trade and enhancing economic activity across related industries," Abu Aqouleh said. He also praised government agencies for facilitating trade movement, noting that customs and security authorities at Jaber border crossing have increased working hours and expedited truck processing, contributing to improved efficiency. Jordan is home to 476 licensed customs brokerage firms operating through 2,000 branches at various customs centres. The sector employs an estimated 10,000 Jordanians. Established in 1982, the Association of Owners of Clearance and Transport Companies is registered with the Ministry of Labour and plays a 'central' role in supporting the sector, resolving operational challenges, and raising professional standards. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan Times
20-05-2025
- Business
- Jordan Times
348,562 clearance transactions processed in first third of 2025
By JT - May 20,2025 - Last updated at May 20,2025 Association of Owners of Clearance and Transport Companies President Dhefallah Abu Aqouleh says that the rise reflects 'growing' activity at customs and border centres across the Kingdom (File photo) AMMAN — The customs clearance and freight forwarding sector processed 348,562 transactions during the first third of 2025, marking a year-on-year increase of 59,641 transactions, according to data compiled by the Association of Owners of Clearance and Transport Companies. Association president Dhefallah Abu Aqouleh said that the rise reflects 'growing' activity at customs and border centres across the Kingdom, the Jordan News Agency, Petra, reported. Transit transactions alone reached 119,148 in the first four months of 2025, up from 69,901 over the same period in 2024, marking an increase of nearly 50,000, Abu Aqouleh said. Export-related transactions also saw moderate growth, reaching 52,357 compared with 49,901 a year earlier, he noted. Abu Aqouleh said that the data revealed that Aqaba customs centre processed 61,689 transactions, an increase of 12,519 from last year. The association president added that Omari customs centre, which serves as a 'key' gateway to Saudi Arabia and the Gulf region, recorded 85,314 transactions, up 34,797 from the same period in 2024. Jaber customs centre, linking Jordan and Syria, handled 15,846 transactions, a rise of 9,361, while Amman's Madouneh customs centre processed 29,563 transactions, up 5,051, he added. Abu Aqouleh noted that the sector also recorded a 'significant' growth in cross-border truck traffic, where the number of trucks entering, exiting, or transiting through Jaber customs centre reached 58,085 by mid-May, compared with 17,035 over the same period last year. At the Omari centre, truck movement climbed to 113,610 from 102,033, recording an increase of 11,577. Abu Aqouleh attributed the increase to 'improved' performance in Jordanian exports and renewed transit trade momentum, particularly following recent developments in Syria. He said that expectations for continued growth are 'strong,' especially in light of regional efforts to ease economic sanctions on Syria. "The anticipated lifting of sanctions on Syria is likely to generate a direct and positive impact on the customs and logistics sectors, reviving transit trade and enhancing economic activity across related industries," Abu Aqouleh said. He also praised government agencies for facilitating trade movement, noting that customs and security authorities at Jaber border crossing have increased working hours and expedited truck processing, contributing to improved efficiency. Jordan is home to 476 licensed customs brokerage firms operating through 2,000 branches at various customs centres. The sector employs an estimated 10,000 Jordanians. Established in 1982, the Association of Owners of Clearance and Transport Companies is registered with the Ministry of Labour and plays a 'central' role in supporting the sector, resolving operational challenges, and raising professional standards.
Globe and Mail
15-05-2025
- Business
- Globe and Mail
What's in the Cards for ZTO Express Stock in Q1 Earnings?
ZTO Express ZTO is scheduled to report first-quarter 2025 results on May 20, after market close. The Zacks Consensus Estimate for ZTO's earnings for the soon-to-be-reported quarter has remained flat at 47 cents per share over the past 60 days. Meanwhile, the Zacks Consensus Estimate for revenues is pegged at $1.67 billion, which indicates a rise of 21% year over year. ZTO Express (Cayman) Inc. Price and EPS Surprise ZTO Express (Cayman) Inc. price-eps-surprise | ZTO Express (Cayman) Inc. Quote Given this backdrop, let's see how things have shaped up for ZTO Express this earnings season. High operating expenses are likely to have hurt the company's bottom-line performance in the to-be-reported quarter, as the company has a brief history of increasing expenses. Top-line growth is expected to have been driven by impressive parcel volumes, with the performance of the express delivery services unit likely to have been impressive. ZTO Express now expects its 2025 parcel volume guidance in the range of 40.8 billion-42.2 billion. The updated guidance represents an increase of 20-24% year over year. The ongoing trade war between the United States and China is also anticipated to have an impact on the to-be-reported quarter's results. An update on the same is also expected at the first-quarter conference. Moreover, revenues from ZTO's freight forwarding services unit are expected to have been hurt by freight demand weakness. An update on the ongoing trade war between the United States and China is also expected at the first-quarter conference. What Our Model Says About ZTO Our proven model does not conclusively predict an earnings beat for ZTO Express this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that's not the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter. ZTO Express has an Earnings ESP of 0.00% and a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank stocks. Highlights of Q4 Earnings ZTOExpress reported mixed fourth-quarter 2024 results. The company's earnings missed the Zacks Consensus Estimate, while revenues surpassed the mark. Quarterly earnings of 44 cents per share missed the Zacks Consensus Estimate of 46 cents. However, the bottom line improved year over year. Total revenues of $1.77 billion surpassed the Zacks Consensus Estimate of $1.65 billion and improved year over year. Q1 Performances of Other Transportation Companies United Airlines ' UAL first-quarter 2025 earnings per share (excluding 25 cents from non-recurring items) of 91 cents surpassed the Zacks Consensus Estimate of 75 cents. In the year-ago quarter, the Chicago-based airline reported a loss of 15 cents per share. Operating revenues of $13.21 billion fell marginally short of the Zacks Consensus Estimate of $13.22 billion. The top line increased 5.4% year over year despite the tariff-induced slowdown in domestic air travel demand. Passenger revenues (which accounted for 89.7% of the top line) rose 4.8% to $11.9 billion. The actual figure was short of our passenger revenue estimate of $12.5 billion. UAL flights transported 40,806 passengers in the first quarter, up 3.8% year over year. Delta Air Lines DAL reported first-quarter 2025 earnings (excluding 9 cents from non-recurring items) of 46 cents per share, which surpassed the Zacks Consensus Estimate of 40 cents. Earnings increased 2.2% on a year-over-year basis due to low fuel costs. Revenues in the March-end quarter were $14.04 billion, surpassing the Zacks Consensus Estimate of $13.81 billion and increasing 2.1% on a year-over-year basis. Adjusted operating revenues (excluding third-party refinery sales) rose 3.3% year over year to $13 billion. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Delta Air Lines, Inc. (DAL): Free Stock Analysis Report United Airlines Holdings Inc (UAL): Free Stock Analysis Report ZTO Express (Cayman) Inc. (ZTO): Free Stock Analysis Report
National Post
07-05-2025
- Business
- National Post
GHK Capital-Backed Horizon Group to Appoint Jeff McCorstin as President & CEO
Article content JAMAICA, N.Y. — Horizon Group ('Horizon' or the 'Company'), a leading global provider of specialized international freight forwarding focused on time-critical marine spare parts logistics, has announced that Jeff McCorstin, a proven leader in global logistics, has been appointed as Horizon's new CEO, effective March 31, 2025. Steve Leondis will retire as CEO after more than four decades at the Company and will transition to an advisory role through the end of the year. Horizon is a portfolio company of GHK Capital Partners LP ('GHK'), a leading middle-market private equity firm based in Greenwich, CT. Article content Article content McCorstin brings decades of experience in global logistics with an extensive background in freight forwarding, most recently serving as the President of Global Freight Forwarding at United Parcel Service, Inc. ('UPS') leading global operations and strategy. Prior to that role, McCorstin led other large divisions and regions within UPS, including as President of Global Customs Brokerage and regional President of Freight Forwarding for Asia Pacific and EMEA. Article content 'Horizon has an exceptional reputation for best-in-class service and execution thanks to the strong leadership from Steve over the past several decades and I am humbled to be leading the Company through its next phase of growth,' said McCorstin. 'As a leader in the marine spare parts logistics space, Horizon has the people and processes in place to accelerate growth on a global scale in order to better serve the needs of our customers and I look forward to working with all of our stakeholders moving forward.' Article content 'It has been my privilege to lead this world-class organization,' said Leondis. 'Through dedication to our people and our customers, we have built an industry leader in marine spare parts logistics during my tenure. Jeff brings a wealth of knowledge and experience that will serve this organization well during this next stage of accelerated growth.' Article content Gil Klemann, Managing Partner of GHK and Chair of Horizon's Board of Directors, added, 'Jeff has demonstrated his unique abilities as an effective leader through his long-standing career at UPS where he held a variety of roles in global logistics. We are excited to partner with Jeff to build upon the Company's strong foundation and market position to establish Horizon as the leading global provider of time-critical marine spare parts logistics.' Article content About Horizon Group Article content Founded in 1970, Horizon Group, through its subsidiaries Horizon Air Freight and Swift Marine, is a leading global provider of specialized international freight forwarding focused on time-critical marine spare parts logistics. Operating out of over 30 locations across the Americas, Europe, and Asia, Horizon offers services spanning multimodal logistics for marine spares, supplies, and equipment and port agency solutions. Over its more than five-decade history, Horizon has established a strong reputation for delivering best-in-class customer service, creating a brand name known for consistent quality. To learn more about Horizon please visit Article content Article content Article content Article content Article content
