Agreement signifies the Company's continued efforts towards becoming a global logistics services provider.
ROSLYN, N.Y., April 27, 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 Ningbo Xinyang Shipping Co., Ltd ("COSCO Xinyang"). The agreement with COSCO Xinyang is a continuation of the Company's ongoing partnership with China Ocean Shipping Company ("COSCO").
Pursuant to the Agreement with COSCO Xinyang, and similar to that of the Company's previously announced inland transportation agreements with COSCO, 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 Xinyang'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 Xinyang 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 and that specializes in international freight forwarding, shipping agency and full supply-chain services.
Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "This agreement is a testament to the Company's ongoing efforts to provide logistic services that best meet the needs of our customers. We are pleased to working again with COSCO and management will continue to seek similar and new partnerships that will further strengthen our business and reinforce our long-term strategic vision of becoming a global logistics services provider."
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.
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SOURCE Sino-Global Shipping America, Ltd.