Sino-Global Shipping America, L (NASDAQ:SINO)

ROSLYN, N.Y., March 28, 2016 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (SINO) ("Sino-Global" or the "Company"), a company engaged in shipping, chartering, logistics and related services, today announced that it has set up a new subsidiary, Sino-Global Shipping LA Inc., for the purpose of expanding its business to provide logistics services to customers who ship goods into the U.S.A.  These services include cargo forwarding, trucking and customs declaration and filing.

Currently, around one million containers (according to the internal estimate from COSCO Container Lines Americas, Inc.) are shipped from China to western United States every month. The Company believes that it can expand its markets throughout Asia and North America by leveraging its global shipping and logistics experience, coupled with increased integration of technology and its own network platform. The Company's platform is spreading throughout the globe, including subsidiaries located in Beijing, Shanghai, Hong Kong, Australia and Canada. Sino-Global Shipping LA Inc. is seeking potential customer relationships and expects its pricing to be favorable to potential customers compared with its U.S. based competitors. 

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "In the months ahead, we will continue to identify new prospective joint venture and strategic alliance opportunities for new revenue sources globally. We believe this will allow us to properly leverage our strengths in logistics expertise and global relationships within the shipping industry. Through our newest subsidiary, we will be able to provide our clients with integrated logistics services and differentiate our revenue stream by forging new partnerships with major importers who ship goods into the US while reducing our dependence on the shipping services provided solely in China. We appreciate our shareholders' ongoing support and are confident that these measures collectively will contribute to a sustainable and profitable growth for the Company over the long-term."