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.
"Our strategic partnership with Lianyungang Port Logistics will further enhance our logistic services platform in China, strengthen our ability to drive sustainable revenues from the logistic business, help us diversify our revenue streams and identify other viable long-term growth opportunities beyond our core shipping agency business. This Agreement is part of our overall program to broaden the breadth and depth of our logistic services in China, and helps lay the foundation for other profit-sharing opportunities." said Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global.
About Sino-Global Shipping America, Ltd.
Sino-Global is a shipping agency and logistic services provider that serves ships coming to and departing from a number of countries and regions, including China, Australia, South Africa, Brazil, Hong Kong, Canada and the United States. Founded in the United States in 2001, the company is a Virginia corporation with its primary US operations in New York.