Sino-Global Announces Formation of "SGS Logistics," Its U.S.-based Freight Forwarding And Logistics Services Network
NEW YORK, Sept. 9, 2015 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ CM: SINO) ("Sino-Global" or the "Company"), a Virginia company engaged in shipping, chartering, logistics and related services, today announced the formation of SGS Logistics, the Company's U.S.-based freight forwarding and logistics services network (the "Network"). The Network is a part of Sino-Global's new strategic plan to grow its business in the U.S. and is intended to extend the Company's integrated service platform into the freight forwarding business. It is intended that during the initial phase, the Network will have operations in the North East and the West Coast; both operations will be led by industry veterans, each with over 20 years of experience in the shipping and logistics industries.
Freight forwarding and logistics services entail the transportation of cargoes from one destination to another, including the moving and processing of cargoes, management of necessary paperwork, duties, and compliance with related rules and regulations. Given the large scope of the international shipping business, along with its numerous requirements, the Company believes freight forwarding services presents a substantial business opportunity for Sino-Global. The Company believes that the Network and the resulting service platform would aid in the establishment of a U.S.-based door-to-door freight forwarding service platform for clients with containerized cargoes leaving the U.S. for China, or from China to the U.S. The Company believes these services will help ensure that cargoes get to their proper destination by an agreed upon date, and in good condition and they would include, among other things, custom clearance and trucking services.
Overview of the SGS Logistics Network
SGS Logistics will be the freight forwarding and logistics services network for Sino-Global, designed to capitalize on the rapidly growing containerized shipping market in the U.S. The Network, the Company believes, would provide customers with reliable, cost-effective, customized solutions while allowing participating Network members, such as small- and medium-size U.S.-based freight forwarding and logistics companies, to service the logistics needs of Sino-Global's customers - clearing their shipments through customs and transporting their cargoes from the unloading ports to their final destination.
Mr. Lei Cao, Chief Executive Officer of Sino-Global, said, "Leveraging this logistics services network, Sino-Global believes it can develop a strong, US-based business and related cash flows while gradually redirecting our strategic focus away from China. We believe that there is a robust U.S. market and growing demand for customized logistics services, based on discussions we have had with various cargo owners, freight forwarding companies and trucking companies. Our strategic approach is to meet freight forwarding needs of customers by leveraging the strength of an integrated services network. Through SGS Logistics, we believe this can be the ideal platform to bring these parties together in a mutually beneficial way, while remaining firmly committed towards continued profitability and increasing shareholder value."
About Sino-Global Shipping America, Ltd.
Founded in the United States of America in 2001, Sino-Global Shipping America, Ltd. is a company engaged in shipping, chartering and related services. We are headquartered in New York with offices in Mainland China, Australia, Canada and Hong Kong. Our current service offerings consist of shipping agency services, shipping and chartering services, inland transportation management services and ship management services. For more information, please visit: www.sino-global.com.
Forward Looking Statements
Any statements and/or other information contained in this release that relate, directly and/or indirectly, to future plans, events or performance of the Company are forward-looking statements that involve risks, and uncertainties some of which are identified in Sino-Global's filings with the Securities and Exchange Commission. Actual results, events or performance of the Company and such other about mentioned events 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 or otherwise disclose the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
For more information, please contact:
Mr. Michael Porter, President
Porter, LeVay & Rose
212-564-4700
[email protected]
SOURCE Sino-Global Shipping America, Ltd.
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