ROSLYN, N.Y., Aug.
31, 2016 /PRNewswire/ -- Sino-Global Shipping America, Ltd.
(NASDAQ: SINO) ("Sino-Global", the "Company" or "us"), a non-asset
based global shipping and freight logistic integrated solution
provider, today announced that its Board of Directors has
authorized management to move forward with the development of a
mobile application that will provide a full-service logistics
platform between the US and China
to short-haul trucking in the
US.
The decision follows an extensive review by the Company's
management team and Board in identifying Sino-Global's key
competitive advantages as an expert in global logistics between the
US and China, and then leveraging
that experience to both address the needs of its customer base and
provide solutions to current issues affecting logistics and supply
chain. The Company completed a market analysis and feasibility
study related to building a mobile based logistics application for
short-haul trucking in US ports to better manage the over 25
million containers, or TEU moving between China and US each year.
Explaining the Market Need
The results of the study revealed that there was a tremendous
bottleneck between the huge demands of door to door container
logistics service in China and
small scale independent fleet owners in US ports. The Company feels
that its experience in providing logistics service and solutions,
coupled with its long term relationships with major shipping
carriers, provide it a competitive advantage to build a
mobile-based platform.
Sino-Global is currently evaluating technology and business
partners to move forward with the development of the mobile
application, which the management hopes to launch in
2017.
Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We
were very pleased with the findings of our initial research into a
mobile-based logistics strategy. We believe that Sino-Global
is in the right position to solve bottleneck issues in this
traditional industry with mobile application technology. We
connected with major shipping carriers in China and multiple small short-haul trucking
fleet operators in US. Universally each one recognized the benefit
of an easily accessible and transparent mobile logistic platform
which will bring market efficiency to our industry. The Company
estimates that this platform would create a considerable savings
for major shipping carriers in China in terms of short-haul trucking in US
and streamline the process, while also providing independent fleet
operators with more opportunities of direct communication with
clients and reducing intermediate steps. We will continue to update
investors as we develop the application and are incredibly excited
about its potential."
About Sino-Global Shipping America, Ltd.
Sino-Global Shipping America, Ltd., a Virginia corporation, is a non-asset based
global shipping and freight logistic integrated solution provider.
Sino-Global provides tailored solutions and value added services to
its shipping and freight customers to drive effectiveness and
control in related links throughout entire logistic chain.
Additional information about Sino-Global can be found on the
Company's corporate website at www.sino-global.net. The Company
routinely posts important information on its website.
Forward Looking Statements
No statement made in this press release should be interpreted as
an offer to purchase any security. Such an offer can only be made
in accordance with the Securities Act of 1933, as amended, and
applicable state securities laws. Any statements contained in this
release that relate to future plans, events or performance are
forward-looking statements that involve risks and uncertainties as
identified in Sino-Global's filings with the Securities and
Exchange Commission. Actual results, events or performance may
differ materially. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
the date hereof. Sino-Global undertakes no obligation to publicly
release the results of any revisions to these forward-looking
statements that may be made to reflect the events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events.
Contact Information
The Equity Group Inc.
Adam Prior
Senior Vice-President
(212)-836-9606 / aprior@equityny.com
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SOURCE Sino-Global Shipping America, Ltd.