Sino-Global Shipping Enters Agreement With COSCO
Sino-Global Shipping America, a non-asset based global shipping and freight logistic integrated solution provider, has announced the signing of an Inland Transportation Agreement with COSCO Beijing International Freight Co in which COSFRE Beijing will utilize the Company's full-service logistics platform to arrange for the transport of its container shipments into US ports. In addition to the Agreement with COSCO Beijing, the Company has entered into a Strategic Cooperation Framework Agreement with Sinotrans Guangxi, a subsidiary of Sinotrans Limited. Pursuant to the Agreement with COSFRE Beijing, Sino-Global will receive a percentageā¦
Sino-Global Purchases First Tanker
Sino-Global Shipping America, which was recently listed on Nasdaq, is becoming a shipowner. The shipping agency, logistics and ship management services company today announced that it has signed a Letter of Intent to acquire a small oil/chemical tanker from Rong Yao International Shipping Limited, a Hong Kong corporation. Sino-Global will issue 1.2 million shares of its common stock to the Rong Yao as partial payment of the vessel purchase price. The parties further agreed that such payment should be valued at $2.22 million, with each share of the company's common stock being valued at $1.85.
China Joint Port Shipping Agency Deal Agreed
Sino-Global Shipping America an international shipping agency & logistic services provider, says it has signed a one-year strategic agreement with Jiangsu Lianyungang Port Logistics Holding Co. to jointly develop and promote each other's shipping agency and logistic service businesses both in China and overseas. Under the terms of the Agreement, each party will promote the other party's services to its existing customers and will share profits generated from such cross-referral activities on a contract-by-contract basis. With 35 berths and annual cargo throughput of 185 million tons, the Lianyungang Port is one of the 10 largest ports in China.
