Sino Global Shipping Ame... (NASDAQ:SINO)
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BEIJING, April 27 /PRNewswire-Asia/ -- Sino-Global Shipping America, Ltd. (NASDAQ:SINO) ("Sino-Global" or the "Company"), a leading, non-state-owned provider of shipping agency services operating primarily in China, today announced the establishment of two new branches in Yantai, Shandong province and Yingkou, Liaoning province, China. The new branch offices give Sino-Global a presence in eight ports in China, and will enable the company to provide a full range of services to companies doing business in the Yantai and Yingkou ports. The Company has contractual arrangements with local shipping agencies in all mainland Chinese ports in which it does not have a branch office.
"Expanding the geographic reach of our services continues to be one of our key development strategies as we strive to better serve the needs of our clients from port to port," said Mr. Cao Lei, Sino-Global's chief executive officer. "Our ability to be responsive to the needs of our clients while concurrently offering a comprehensive suite of high-quality shipping agency services gives us unique advantages compared to our large, state-owned competitors and the hundreds of small, local shipping agencies with which we compete. I'm confident that this geographic expansion combined with our strategy of low-cost expansion into complementary business areas such as handling cargo and renting and staffing ships will allow us to maintain positive growth momentum even within this economic downturn."
Yantai port handles mainly container, bulk cargo, and Roll-on/Roll-off traffic for goods such as fertilizer, iron ore, grain, cement, coal and rock such as granite. Due to extensive land transportation links including rail and highway, Yantai port is one of China's major harbors for water-land trans-shipment. Yingkou port is the second-largest port in northeast China and the tenth-largest nationwide. The port mainly processes shipments of containers, grain, automobile and finished oil, but other common shipments include iron, steel, timber, coal, bulk chemical fertilizer, mineral powder, liquid chemicals, petroleum, beverages, ceramic tiles and non-metal products.
About Sino-Global Shipping America, Ltd.
Registered in the United States in 2001 and operating primarily in mainland China, Sino-Global is a leading, non-state-owned provider of high-quality shipping agency services. With local branches in eight of China's 76 ports and contractual arrangements in all those where it does not have branch offices, Sino-Global is able to offer efficient, high-quality shipping agency services to shipping companies entering Chinese ports. With a subsidiary in Perth, Australia, where it has a contractual relationship with a local shipping agency, Sino-Global provides complete shipping agent services to companies involved in trades between Chinese and Australian ports. Sino-Global also operates a subsidiary in Hong Kong, China, to provide comprehensive shipping agent services to vessels going to and from one of the world's busiest ports.
Sino-Global provides ship owners, operators and charters with comprehensive yet customized shipping agency services including intelligence, planning, real-time analysis and on-the-ground implementation and logistics support. Sino-Global has achieved both ISO9001 and UKAS certifications.
Forward Looking Statements
No statement made in this press release should be interpreted as an offer to purchase any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Any statements contained in this release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties as identified in Sino-Global's filings with the Securities and Exchange Commission. Actual results, events or performance may differ materially. Readers are cautioned not to place undo reliance on these forward- looking statements, which speak only as the date hereof. Specifically, Sino- Global cannot guarantee that the two new branches discussed herein will result in any new business or produce any revenues or meet the prospects referenced herein. Sino-Global undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
For investor and media inquiries, please contact:
Ms. Apple Liang
Sino-Global, Beijing
Tel: +86-10-6439-1888
Email:
Ms. Flora Tian
Ogilvy Financial, Beijing
Tel: +86-10-8520-6524
Email:
DATASOURCE: Sino-Global Shipping America, Ltd.
CONTACT: Ms. Apple Liang, Sino-Global, Beijing, +86-10-6439-1888, or
; Ms. Flora Tian, Ogilvy Financial, Beijing,
+86-10-8520-6524, or