Sino-Global Shipping America, Ltd. (NASDAQ:SINO) a non-state-owned provider of shipping agency and forwarder services operating primarily in China, announced that it has signed an exclusive partnership agreement with India-based, Forbes & Company Limited.
"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.
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."