NEW YORK, Dec. 19, 2013 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NasdaqCM: SINO) ("Sino-Global" or the "Company"), an international shipping agency and logistic services provider, today announced that it has signed a one-year strategic agreement (the "Agreement") with Jiangsu Lianyungang Port Logistics Holding Co., Ltd. ("Lianyungang Port Logistics"), to jointly develop and promote each other's shipping agency and logistic service businesses both in China and overseas. Under the terms of the Agreement, each party will promote the other party's services to its existing customers and will share profits generated from such cross-referral activities on a contract-by-contract basis.
"Our strategic partnership with Lianyungang Port Logistics will further enhance our logistic services platform in China, strengthen our ability to drive sustainable revenues from the logistic business, help us diversify our revenue streams and identify other viable long-term growth opportunities beyond our core shipping agency business. This Agreement is part of our overall program to broaden the breadth and depth of our logistic services in China, and helps lay the foundation for other profit-sharing opportunities." said Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global. "As we exit December with significantly improved financial condition, restructured management and organizational structure, and new partnerships with leading enterprises like Zhiyuan and Lianyungang Port Logistics, we believe better days lie ahead of us."
About Jiangsu Lianyungang Port Logistics Holding Co., Ltd.
Lianyungang Port Logistics is a wholly-owned subsidiary of state-owned Lianyungang Port Group Limited. With registered capital of over RMB 200 million and more than 500 total employees, Lianyungang Port Logistics is a modern logistics company with businesses including freight forwarding, domestic and international trade, container station, customs clearance, bonded logistics, warehousing supervision, international cargo agent, timber storage and processing, etc. See www.lygwl.com.cn for more information.
Lianyungang Port Group Limited, the parent company of Lianyungang Port Logistics, is a state-owned enterprise incorporated in November 2003 with its predecessor the Port Authority of Lianyungang. Lianyungang Port Group is also the controlling shareholder of Shanghai Exchange-listed Jiangsu Lianyungang Port Co. Ltd. (601008.SS). With 35 berths and annual cargo throughput of 185 million tons, the Lianyungang Port is one of the 10 largest ports in China. See www.lygport.com.cn for more information.
About Sino-Global Shipping America, Ltd.
Sino-Global is a shipping agency and logistic services provider that serves ships coming to and departing from a number of countries and regions, including China, Australia, South Africa, Brazil, Hong Kong, Canada and the United States. Founded in the United States in 2001, our company is a Virginia corporation with its primary US operations in New York.
Sino-Global provides ship owners, operators and charters with comprehensive yet customized shipping agency and logistic services including intelligence, planning, real-time analysis and on-the-ground implementation and logistics support. Sino-Global has achieved both ISO9001 and UKAS certifications. For more Information, please visit: www.sino-global.com.
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.
For more information, please contact:
In the U.S.:
Mr. Anthony S. Chan, CPA
Acting CFO & EVP
Mr. Zhikang (Michael) Huang
Chief Operating Officer
SOURCE Sino-Global Shipping America, Ltd.