Sino-Global Establishes Subsidiary in Shanghai and Extends Scope of Service
June 23 2009 - 5:00AM
PR Newswire (US)
BEIJING, June 23 /PRNewswire-Asia/ -- Sino-Global Shipping America,
Ltd. (NASDAQ:SINO) ("Sino-Global" or the "Company"), a leading,
non-state-owned provider of shipping agency and forwarder services
operating primarily in China, today announced the establishment of
a new subsidiary in Shanghai, China. The subsidiary, Trans Pacific
Logistics Shanghai, Ltd., increases Sino-Global's presence to nine
ports in mainland China and will enable the Company to provide a
full range of shipping agency services as well as freight forwarder
services. Sino-Global has contractual arrangements with local
shipping agencies in all mainland Chinese ports in which it does
not have a branch office. "While the economic downturn has taken a
toll on China's shipping industry, it also affords us the
opportunity to expand into complementary areas of business while
the cost of doing so is low," said Mr. Cao Lei, Sino-Global's chief
executive officer. "Our new Shanghai subsidiary will allow us to
provide our clients with the same level of integrated and
high-quality shipping agency services while also providing
non-asset-based logistics services for freight transport over
water." Located at the front edge of the Yangtze River Delta, the
port of Shanghai lies in the middle of the 18,000-kilometer eastern
coastline of mainland China. The port of Shanghai is one of the
major hub ports in China's coastal area and plays an important role
in China's integration with the global economy. The port's annual
foreign trade cargo throughput accounts for about 20% of the total
volume of China's coastal ports. In 2007, Shanghai was the busiest
port worldwide in terms of cargo throughput and second busiest in
terms of container throughput. 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 and
forwarder services. With local branches in nine 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 agency 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, as well as freight forwarder services.
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 undue reliance on these forward-looking statements, which
speak only as the date hereof. Specifically, Sino-Global cannot
guarantee that the new subsidiary 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 of Sino-Global, Beijing, +86-10-6439-1888, ; or Ms. Flora
Tian of Ogilvy Financial, Beijing, +86-10-8520-6524,
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