Pursuant to the Agreement with COSFRE Beijing, Sino-Global will receive a percentage of the total amount of each transportation fee in exchange for the arrangement of inland transportation services for COFRE Beijing's container shipments into US ports. The Company has worked to expand its business to provide logistics services to customers who ship goods into the US and COSFRE Beijing will receive a percentage of the Company's profits for any additional customers the Company obtained through referral business.
COSCO Beijing International Freight Co., Ltd. is a part of COSCO International Freight Co., Ltd., a subsidiary that operates under China Ocean Shipping (Group) Company ("COSCO") and China COSCO Holdings Company Limited ("China COSCO Holdings") and that specializes in international freight forwarding, shipping agency and full supply-chain services.
Partnership with Sinotrans Guangxi
As a part of the Strategic Cooperation Framework Agreement with Sinotrans Guangxi, the two companies will work together to establish an integrated logistic plan that provides an end-to-end supply chain solution for customers shipping soybeans and sulfur from the US to southern China via container ship. Sino-Global and Sinotrans Guangxi intend to utilize both parties existing resources and the integrated full-service logistic channel is expected to provide services which include cargo forwarding, trucking and customs declaration, filing, packing, inland transportation and the arrangement of key personnel to assist in the implementation of the companies' shared strategic vision.
Sinotrans Limited was incorporated in November 2002 and listed on the Hong Kong Stock Exchange the following year. Sinotrans Limited is a leading global integrated logistics service provider and the company's main business is focused on integrating ocean freight, air freight, road and rail transport, international express, shipping agency, warehousing and distribution, terminal services and others to provide end-to-end supply chain solutions and one-stop services for its customers.
Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We are very excited to expand and reinforce our long-term relationship with COSCO. This Agreement with COSCO Beijing provides us with an opportunity to broaden our customer base and utilizes our newly established website platform. We believe that both of our management teams share a similar vision and we anticipate that this Agreement will not only strengthen our relationship with COSCO but lead to additional customers and strategic partnerships in the future.
"The collaboration between Sino-Global and Sinotrans Guangxi is expected to provide an integrated "one-stop" shop solution for both our customers located in the United States and China. Sinotrans Guangxi's parent company is a leading logistic service provider in China and we anticipate that this collaboration in addition to providing a full-service integrated solution for our customer will bring awareness to the Company and strengthen our business operations in the United States."
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.
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SOURCE Sino-Global Shipping America, Ltd.