Sino-Global Inks Strategic Agreement with Lizhou Ship Management
- Business & Finance
Sea Continent Management, a joint venture of the US-based shipping and logistics company Sino-Global Shipping America, has signed a strategic cooperation agreement with Lizhou Ship Management.
Under the deal, Sea Continent will provide various ship management services to all the ships that Lizhou currently operates.
According to the company, Sea Continent Management provides a full range of ship management services to clients that operate all types of ships.
Following a challenging year due to the intense US-China trade tensions, Sino-Global recently decided to expand its ship services. In 2019, trade dynamics increased the expense for shipping carrier clients to ship cargo into U.S. ports, resulting in lower shipping volumes and lower utilization of Sino-Global’s online platform, which has caused the company to shift its focus back to the global shipping agency business.
“Sino-Global will continue to work to expand its ship management business to ship owners and operators … and will increase the company’s revenue and profits in the future,” the company said.