ROSLYN, N.Y., Jan. 12, 2017 /PRNewswire/ -- Sino-Global
Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global", the "Company"
or "we"), a non-asset based global shipping and freight logistic
integrated solution provider, today announced the signing of a
Strategic Cooperation Agreement (the "Agreement") with China Ocean
Shipping Agency Qingdao Co., Ltd. ("COSCO Qingdao") in which COSCO Qingdao will utilize the Company's full-service
logistics platform to arrange for the transport of its container
shipments into US ports. The agreement with COSCO Qingdao is a continuation of the Company's
ongoing partnership with China Ocean Shipping Company ("COSCO") and
will expand the Company's presence in the Shandong province as well as in other regions
such as Ningbo, Xiamen and Guangzhou through COSCO Qingdao's relationship with local subsidiaries
in the area.
Pursuant to the Agreement with COSCO Qingdao, and similar to that of the Company's
previously announced inland transportation agreement with COSFRE
Beijing (December 2016), Sino-Global
will receive a percentage of the total amount of each
transportation fee in exchange for the arrangement of inland
transportation services for COSCO Qingdao's container shipments into US ports.
The Company continues to work to expand its business to provide
logistics services to customers who ship goods into the
US. COSCO Qingdao will receive
a percentage of the Company's profits for any additional customers
the Company obtained through referral business.
COSCO Qingdao is a part of COSCO
International Freight Co., Ltd., a subsidiary that operates under
China Ocean Shipping (Group) Company and China COSCO Holdings
Company Limited ("China COSCO Holdings") and that specializes in
international freight forwarding, shipping agency and full
supply-chain services.
Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We
continue to seek strategic partnerships and joint venture
opportunities that will expand the Company's reach and reinforce
our long-term strategic vision of becoming a global logistics
services provider. We look forward to growing our cooperative
efforts with COSCO and to entering into similar partnerships with
other local subsidiaries."
About Sino-Global Shipping America, Ltd.
Founded in the United States in
2001, Sino-Global Shipping America, Ltd. is a company engaged in
shipping, chartering, logistics and related services. Headquartered
in New York, Sino-Global has
offices in Los Angeles, Mainland
China, Australia, Canada and Hong
Kong. The Company's current service offerings consist of
inland transportation management services and freight logistic
services. 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.