Agreement enhances shipping agency cooperation in both China- and India-based ports
BEIJING, July 27 /PRNewswire-Asia-FirstCall/ -- Sino-Global Shipping America, Ltd. (Nasdaq: SINO) ("Sino-Global" or the "Company"), a leading, non-state-owned provider of shipping agency and forwarder services operating primarily in China, announced that it has signed an exclusive partnership agreement (the "agreement") with India-based, Forbes & Company Limited ("Forbes").
"As a reputable and established company, Forbes is the ideal partner for Sino-Global as we look to expand our customer base," said Mr. Cao Lei, Sino-Global’s chief executive officer. "Under this agreement, we expect to provide agency services in China-based ports to a significant number of Forbes’ existing shipping-related clients. As we expand our scope of services into complementary areas, we also see exciting opportunities for additional cooperation, including ship brokering and chartering, project cargo handling and others."
Under the terms of the agreement, Forbes will recommend Sino-Global as their exclusive business partner in China to all their existing clients in India and Sino-Global will serve all vessels in China that are appointed by Forbes. Likewise, Sino-Global will recommend Forbes as their exclusive business partner in India to all their existing clients in China and Forbes will serve all vessels in India that are appointed by Sino-Global.
Mr. Ashok Barat, managing director of Forbes, added, "The substantial and increasing volume of business conducted by our clients between India- and China-based ports requires a strong partner in China. Sino-Global’s history of high-quality service and ability to provide local logistical services to ships in each of China’s 76 ports will add tremendous value to our existing offering of logistics, brokering and chartering services."
Listed on the Bombay Stock Exchange (BOM: 502865), Forbes is engaged in three main businesses, including engineering, shipping and logistics and business automation. Forbes’ shipping business consists of container freight, logistics, liner agencies, tramp, ship broking and chartering business operations.
About Forbes & Company Limited
Forbes & Company Limited (BOM: 502865) is one of the oldest companies in the world.
The company traces its origin to the year 1767 when John Forbes of Aberdeenshire, Scotland started his business in India. Over the years, the management of the company moved from the Forbes Family to the Campbells to the Tata Group and now finally to the well known Shapoorji Pallonji Group; leaders in infrastructure, construction and real estate businesses, amongst many others.
Forbes & Company Limited has three main businesses, namely Engineering, Shipping and Logistics and Business Automation. Many of these businesses have joint ventures with world leaders and are present throughout India and in many other countries.
Forbes & Company Limited has a tradition of excellence and total customer delight as its singular aim.
About Sino-Global Shipping America, Ltd.
Sino-Global Shipping America, Ltd. (NASDAQ: SINO), is headquartered in Beijing and primarily operates in mainland China as a leading, non-state-owned provider of high-quality shipping agency and forwarder services. With local branches in nine of China’s 76 ports and contractual arrangements in all those where it does not have branch offices, Sino-Global is able to offer efficient, high-quality shipping agency services to shipping companies entering Chinese ports. With a subsidiary in Perth, Australia, where it has a contractual relationship with a local shipping agency, Sino-Global provides complete shipping agent services to companies involved in trades between Chinese and Australian ports. Sino-Global also operates a subsidiary in Hong Kong, China to provide comprehensive shipping agency services to vessels going to and from one of the world’s busiest ports.
Sino-Global provides ship owners, operators and charters with comprehensive yet customized shipping agency services including intelligence, planning, real-time analysis and on-the-ground implementation and logistics support, as well as freight forwarding services. Sino-Global has achieved both ISO9001 and UKAS certifications.
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. Specifically, Sino-Global cannot guarantee that the new subsidiary discussed herein will result in any new business or produce any revenues or meet the prospects referenced herein. 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 investor and media inquiries, please contact:
Ms. Apple Liang
Sino-Global, Beijing
Tel: +86-10-6439-1888
Email: ir@sino-global.net
Ms. Flora Tian
Ogilvy Financial, Beijing
Tel: +86-10-8520-6524
Email: sino@ogilvy.com
