Shares of Sino-Global Shipping America Ltd rose as much as 68 percent on Thursday, a day after the shipping agency services signed an agreement with COSCO Container Shipping Agency to expand its agency services in China, Reuters reports.COSCO Container Shipping Agency is a unit of COSCO Container Lines Co Ltd and has more than 50 offices in coastal cities throughout China.
"By signing the agreement, we intend to expand our local agency services through the highly-regarded network of COSCO Container Shipping Agency," Sino-Global Chief Executive Cao Lei said in a statement.
"By signing the agreement, we intend to expand our local agency services through the highly-regarded network of COSCO Container Shipping Agency," Sino-Global Chief Executive Cao Lei said in a statement.