AJOT Digital Edition
Issue #590 | Perishables | Mediterranean | Middle East | Africa Trade

Cover of issue-590.png

Peroshables

Mediterranean | Middle East | Africa Trade

View Issue #590 Now!

2014 Media Kit
  • Share this article:

Sino-Global Plans to Acquire Ship Management Company from Qingdao Zhenghe Shipping (Group) Co. Ltd.

By: | at 08:00 AM | Transport Intermediaries  

Sino-Global Shipping America, Ltd. (NasdaqCM: SINO) (“Sino-Global” or the “Company”), an international shipping agency and logistic services provider, today provided an update on its ongoing strategic discussions with Qingdao Zhenghe Shipping (Group) Co. Ltd. (“Zhenghe”) and announced that Sino-Global has signed a non-binding acquisition proposal to acquire Zhenghe’s ship management company, Longhe Ship Management (Hong Kong) Co., Ltd. (“Longhe Ship Management”).

Incorporated in Hong Kong, Longhe Ship Management provides ship and crew management services for a number of dry bulk ships that are built and owned by Zhenghe. The exact terms and conditions of the planned acquisition have not been determined and are subject to further negotiation between the two parties as well as review and approval of Sino-Global’s Board of Directors.

More about PR Newswire
PR Newswire is the leading global provider of marketing and communications solutions that let you optimize and distribute multimedia content to actively engage all key audiences, across all traditional, digital, social and mobile channels, anywhere in the world.