NetworkNewsBreaks – Sino-Global (NASDAQ: SINO) Inks Deal with China Ocean Shipping Agency Qingdao Co.
Sino-Global Shipping America (NASDAQ: SINO) this morning said it has entered into a strategic cooperation agreement with China Ocean Shipping Agency Qingdao Company ("COSCO”) in which COSCO will use Sino-Global’s logistics platform to transport its container shipments into U.S. ports in exchange for a percentage of the total amount of each transportation fee. The agreement reinforces the companies’ ongoing partnership and will expand Sino-Global’s presence in the Shandong province, as well as in other regions, through COSCO's relationships with local subsidiaries in the area. "We continue to seek strategic partnerships and joint venture opportunities that will expand the Company's reach…