Sino-Global Shipping America, Ltd. (NASDAQ: SINO) (Sino-Global), a non-asset based global shipping and freight logistic integrated solution provider, today announced the signing of a Strategic Cooperation Agreement with Ningbo Xinyang Shipping Co., Ltd (COSCO Xinyang). The agreement with COSCO Xinyang is a continuation of the Company's ongoing partnership with China Ocean Shipping Company (COSCO).
Pursuant to the Agreement with COSCO Xinyang, and similar to that of the Company's previously announced inland transportation agreements with COSCO, Sino-Global will receive a percentage of the total amount of each transportation fee in exchange for the arrangement of inland transportation services for COSCO Xinyang's container shipments into US ports. The Company continues to work to expand its business to provide logistics services to customers who ship goods into the US.
COSCO Xinyang is a part of COSCO International Freight Co., Ltd., a subsidiary that operates under China Ocean Shipping (Group) Company and China COSCO Holdings Company Limited and that specializes in international freight forwarding, shipping agency and full supply-chain services.
Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "This agreement is a testament to the Company's ongoing efforts to provide logistic services that best meet the needs of our customers. We are pleased to working again with COSCO and management will continue to seek similar and new partnerships that will further strengthen our business and reinforce our long-term strategic vision of becoming a global logistics services provider."