Sino-Global Signs Strategic Agreement with COSCO Logistics
Sino-Global Shipping America, Ltd., a shipping, chartering, and logistics company, has signed a strategic cooperation agreement with COSCO Logistics (Americas) Inc.
Under the agreement, both companies will mutually provide logistics services between China and the United States and develop shipping customers as an end-to-end global logistics service. COSCO Logistics is part of China COSCO Holdings Company Ltd., China’s largest integrated shipping company which is publicly traded on the Shanghai and Hong Kong stock exchanges.
Sino-Global expects to work with COSCO Logistics to provide inland transportation services in the United States for shipments to and from China. The company has worked to expand its business to provide logistics services to customers who ship goods into the U.S.
In January 2016 Sino-Global formed a new subsidiary, Sino-Global Shipping LA Inc., and has been working to integrate inland trucking services to both coasts of the U.S. These services include cargo forwarding, trucking, and customs declaration and filing. The company is seeking additional customer relationships and believes this partnership will assist in broadening its potential customer base.
As part of the agreement, the two companies will also assess locations in the U.S. to potentially establish warehouse and distribution facilities and share pricing information for short-haul trucking across selected regions of the country.
“This Agreement combines our logistics expertise and relationships with that of COSCO’s service component in Asia to provide a seamless bridge between China and the United States,” said Lei Cao, Chief Executive Officer of Sino-Global. “We believe that both of our management teams share a similar vision for collaboration between merchants based in China and integrating trucking services in America coupled with the growing trend of ecommerce driven logistics services. Since establishing our west coast subsidiary, we have leveraged our global relationships to forge ahead with new customer agreements. We are very pleased with the progression and look forward to continuing to provide updates to our investors.”
COSCO Logistics Americas is a global supply chain services company providing a range of transportation and distribution services. COSCO Logistics is a subsidiary of China COSCO Holdings Company, China’s largest integrated shipping company.
Sino-Global Shipping America, Ltd. is headquartered in New York and has offices in Los Angeles, China, Australia, Canada, and Hong Kong.