ROSLYN, N.Y., July 27, 2016 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global", the "Company" or "us"), a company engaged in shipping, chartering, logistics and related services, today announced the signing of a Strategic Cooperation Agreement (the "Agreement") with COSCO Logistics (Americas) Inc. ("COSCO Logistics"), in which both companies will mutually provide logistics services between China and the United States and develop shipping customers as an end-to-end global logistics service. COSCO Logistics is part of China COSCO Holdings Company Ltd. (1919.HK/601919.SS), China's largest integrated shipping company which is publicly traded on both Shanghai Stock Exchange and Hong Kong Stock Exchange.
Sino-Global expects to work with COSCO Logistics to provide inland transportation services in US for shipments to and from China. The Company has worked to expand its business to provide logistics services to customers who ship goods into the U.S.A. In January 2016 Sino-Global formed a new subsidiary, Sino-Global Shipping LA Inc., and has been working to integrate inland trucking services to both coasts in the United States. These services include cargo forwarding, trucking and customs declaration and filing. The Company is seeking additional customer relationships and believes this partnership will assist in broadening its potential customer base.
As part of the Agreement, the two companies will also assess locations in America to potentially establish warehouse / distribution facilities in the coming months and share pricing information for short-haul trucking across selected regions of the country.
Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We are very excited to expand and reinforce our long-term relationship with COSCO. This Agreement combines our logistics expertise and relationships with that of COSCO's service component in Asia to provide a seamless bridge between China and the United States. We believe that both of our management teams share a similar vision for collaboration between merchants based in China and integrating trucking services in America coupled with the growing trend of e-commerce driven logistics services. Since establishing our west coast subsidiary, we have leveraged our global relationships to forge ahead with new customer agreements. We are very pleased with the progression and look forward to continuing to provide updates to our investors."
About COSCO Logistics Americas
COSCO Logistics Americas is a leading global supply chain services company dedicated to providing a wide range of transportation and distribution services. With operation centers strategically located throughout North America, COSCO Logistics offers an integrated supply chain network, designed to streamline supply chain and reduce cycle times from order placement to delivery.
COSCO Logistics is a subsidiary of China COSCO Holdings Company, China's largest integrated shipping company. China COSCO Holdings Company is public listed on Shanghai Stock Exchange under the code of 601919.SS as well as Hong Kong Stock Exchange under the code of 1919.HK.
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 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.
Contact Information
The Equity Group Inc.
Adam Prior
Senior Vice-President
(212)-836-9606 / aprior@equityny.com
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