ROSLYN, N.Y., March 28, 2016 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global" or the "Company"), a company engaged in shipping, chartering, logistics and related services, today announced that it has set up a new subsidiary, Sino-Global Shipping LA Inc., for the purpose of expanding its business to provide logistics services to customers who ship goods into the U.S.A. These services include cargo forwarding, trucking and customs declaration and filing.
Currently, around one million containers (according to the internal estimate from COSCO Container Lines Americas, Inc.) are shipped from China to western United States every month. The Company believes that it can expand its markets throughout Asia and North America by leveraging its global shipping and logistics experience, coupled with increased integration of technology and its own network platform. The Company's platform is spreading throughout the globe, including subsidiaries located in Beijing, Shanghai, Hong Kong, Australia and Canada. Sino-Global Shipping LA Inc. is seeking potential customer relationships and expects its pricing to be favorable to potential customers compared with its U.S. based competitors.
Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "In the months ahead, we will continue to identify new prospective joint venture and strategic alliance opportunities for new revenue sources globally. We believe this will allow us to properly leverage our strengths in logistics expertise and global relationships within the shipping industry. Through our newest subsidiary, we will be able to provide our clients with integrated logistics services and differentiate our revenue stream by forging new partnerships with major importers who ship goods into the US while reducing our dependence on the shipping services provided solely in China. We appreciate our shareholders' ongoing support and are confident that these measures collectively will contribute to a sustainable and profitable growth for the Company over the long-term."
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 Mainland China, Australia, Canada and Hong Kong. The Company's current service offerings consist of shipping agency services, shipping and chartering services, inland transportation management services and ship management 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.