Sino-Global Shipping America Signs Project Agreements

Sino-Global Shipping America has signed two project agreements with Sinotrans Guangxi Co., a subsidiary of Sinotrans Limited, and COSCO Beijing International Freight Co. Ltd., a subsidiary of China COSCO Holdings Company Limited. Shares of Sino-Global Shipping America surged more than 18% in early Friday trading.

The project agreements are extensions of an initial strategic cooperation framework agreement and inland transportation agreement that the company entered into with Sinotrans Guangxi and COSFRE Beijing, respectively, in December 2016, the company said in a press release.

Sino-Global will continue its efforts with Sinotrans Guangxi and COSFRE Beijing to convert commodity in-bulk shipments to containerization of the commodities shipped between China and the United States. Sino-Global will also manage all ground logistics and custom declaration services in the U.S. for Sinotrans Guangxi and COSFRE Beijing.

By Chris Robinson