Sino-Global Shipping America, Ltd., a US-registered provider of shipping agency services operating primarily in China, announced that it has signed an agency agreement with Beijing Shou-Rong Forwarding Service Co., Ltd., a subsidiary of Chinese steelmaker Capital Steel. The previous agency agreement was to expire on December 31, 2009. Sino-Global and Beijing Shou-Rong have extended the agreement through December 31, 2011.
The new agency agreement appoints Sino-Global as Beijing Shou-Rong's exclusive port attending agent in all Chinese ports for all iron ore-carrying ships. In 2009, Sino-Global served as agent for ships carrying 48 million mt of iron ore for Beijing Shou-Rong.
"We are pleased with the opportunity to continue to assist Beijing Shou-Rong with its port agent needs," said Mr. Cao Lei, Sino-Global's chief executive officer. "Beijing Shou-Rong is our largest client, and we believe this two-year extension demonstrates the confidence they have in our shipping agency services."