Sino-Global Signs Agreements to Charter Two Ships to Meet Export Product Demand to China from the U.S.
Sino-Global Shipping America, Ltd. (SINO)
US:NASDAQ Investor Relations:
sino-global.com
Company Research
Source: PR Newswire
ROSLYN, N.Y., June 29, 2020 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global", the "Company" or "we"), a non-asset based global shipping and freight logistic integrated solution provider, today announced that it has signed bareboat charter contracts with two "Handysize" vessels capable of carrying between 40,000 – 50,000 deadweight tons of dry-bulk. Both vessels were built in the 1990s and will serve the purpose of carrying dry-bulk products, such as fertilizer raw materials and sulfur, to and from ports in the United States and China.Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "In recent weeks, we have signed an important MOU with Yunnan Jingyifeng Supply Chain Management ("JYF") to meet the increase in export demand. While we are ramping up exports under that agreement, we felt it was prudent to secure vessels that would help to meet that demand and also provide Sino-Global versatility to sub-charter these vessels for immediate revenue
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