Sino-Global Shipping America, Ltd. (NASDAQ: SINO) announced the signing of bareboat charter contracts for two Handysize vessels, enhancing their capabilities to transport dry-bulk products like fertilizer and sulfur between the U.S. and China. CEO Lei Cao highlighted a recent MOU with Yunnan Jingyifeng Supply Chain Management, aimed at meeting rising export demands. The vessels are expected to generate revenue of approximately $7,500 to $8,500 per day, leveraging current market conditions. This strategic move follows an increase in the Baltic-Dry Index and aims to capitalize on opportunities from recent trade agreements.
Sino-Global Shipping America, Ltd. (NASDAQ: SINO) announced a Non-Binding Memorandum Of Understanding (MOU) with Yunnan Jingyifeng Supply Chain Management Co Ltd to export agricultural products to China. Following the U.S.-China Phase 1 trade deal, Sino-Global anticipates increased demand for products like sulphur, soybean, and wheat. The partnership aims to facilitate approximately 1,000,000 metric tons of exports annually, with expected agency-based trading revenue ranging from 8-12% of total sales. Mr. Lei Cao highlighted the opportunity to leverage their expertise amid growing export demands.