Sino-Global Shipping: Surges on new service agreement

Singularity Future Technology

08/06/2020 16:01

** Shares of shipping and logistics service provider
Sino-Global Shipping America Ltd  SINO.O  jump as much as 82.8%
to $0.67; hitting their best day in three years
    ** Co announces signing of a deal that makes it the sole
shipping agency for all the ships owned and operated by
Mandarine Bulk Ltd  urn:newsml:reuters.com:*:nPn5rqWrGa
    ** SINO says the agreement is valid for two years starting
June 2020
    ** Expects the deal to add about $12 mln in revenue annually
 
    ** Up to last close, SINO was up ~50% this year

 (Reporting by Shivani Kumaresan in Bengaluru)
 ((Shivani.Kumaresan@thomsonreuters.com; +1 646 223 8780))