Key Developments: Sino-Global Shipping America Ltd (SINO.OQ)
1.53USD
4:00pm EDT
$-0.47 (-23.50%)
$2.00
$1.97
$2.04
$1.53
28,543
5,770
$2.70
$1.24
Latest Key Developments (Source: Significant Developments)
Sino-Global Shipping America Ltd Announces Global Logistic Service Agreement
Sino-Global Shipping America Ltd announced that it signed a 5-year global logistic service agreement on June 27, 2013 with TEWOO Chemical & Light Industry Zhiyuan Trade Co., Ltd and TianJin Zhi Yuan Investment Group Co., Ltd (together Zhiyuan). Under the terms of the agreement, Sino-Global will serve as Zhiyuan's exclusive global logistics service provider in charge of cargo import and export issues. Sino-Global will provide door-to-door chartering, agency and logistics services for Zhiyuan, taking care of everything from assistance with sales contracts, logistics planning, local agent and surveyor appointments, customs compliance, and arrangement of warehousing and land transportation for shipments. Zhiyuan will prepay 40% of total freight prior to a shipment. The agreement, which was unanimously approved by Sino-Global's Board of Directors, will last for 5 years, at which point Sino-Global has the right to renew for successive one-year terms. Full Article
Sino-Global Shipping America Ltd Announces Establishment Of Wholly Owned Canadian Subsidiary, Sino-Global Shipping Canada Inc
Sino-Global Shipping America Ltd announced that it has established a new wholly-owned subsidiary, Sino-Global Shipping Canada Inc., to provide services for ships loading commodities at Canadian ports and delivering them to China . Sino-Global Shipping Canada is already providing shipping services to Baosteel's vessels in Canada. Baosteel, based in Shanghai, China , is the second steel producer in the world with huge demands for iron ore and other commodities. Full Article
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