Flushing, New York-based Sino-Global Shipping America announced on Wednesday that it has signed an Inland Transportation Agreement with a subsidiary of Chinese firm Cosco International Freight Company.
Under the deal Sino-Global, which describes itself as a non-asset based global shipping and freight logistic integrated solution provider, gives COSCO Beijing International Freight Co., Ltd (COSFRE Beijing) the use of Sino-Global’s full-service logistics platform in arranging for the transportation of its container shipments to US ports.
In return Sino-Global will receive a percentage of each transportation fee.
COSFRE Beijing specialises in international freight forwarding, shipping agency and full supply-chain services.
It opted to start looking at logistic solutions in the US after seeing revenues decline by $4m in the quarter that ended in September.
Also on Wednesday Sino-Global announced a strategic cooperation framework agreement with Sinotrans Guangxi, a subsidiary of Sinotrans Limited.