Sino-Global Shipping America, Ltd. (NASDAQ: SINO) (Sino-Global), a non-asset based global shipping and freight logistic integrated solution provider, Tuesday (Jan21) announced the signing of Joint Venture Agreement with Mr. Shanming Liang (Mr. Liang).
Mr. Liang.is an expert importer of agriculture products for the customers located in Southern China, and Sino-Global expects to work with Mr. Liang to resume the project of "Bulk Cargo Containerized" since the China and US trade deal was finally signed January 15, 2020. Pursuance to the Agreement, a new joint venture company is registered and will take full responsibility for purchasing agriculture products in North America. Sino-Global will provide the whole supply chain logistic services for products of Soybean, Corn, Alfalfa etc. that ship from North America to China.
Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "During the passing year, the international trade and trade-related shipment has decreased a lot due to the trade war between China and the US. In such an environment, Sino-Global's business was inevitably affected. As the trade deal "Phase One" was duly signed by both governments last Wednesday, the trade between China and the US will be heating up soon. We believe that with the resuming of our containerized project, we can bring continuous and stable revenue to the company in the coming future."
Source: Sino-Global