Sino-Global (SINO) Plans to Develop Mobile Application for Short-Haul Trucking in US
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Sino-Global Shipping America, Ltd. (NASDAQ: SINO) today announced that its Board of Directors has authorized management to move forward with the development of a mobile application that will provide a full-service logistics platform between the US and China to short-haul trucking in the US.
The decision follows an extensive review by the Company's management team and Board in identifying Sino-Global's key competitive advantages as an expert in global logistics between the US and China, and then leveraging that experience to both address the needs of its customer base and provide solutions to current issues affecting logistics and supply chain. The Company completed a market analysis and feasibility study related to building a mobile based logistics application for short-haul trucking in US ports to better manage the over 25 million containers, or TEU moving between China and US each year.
Explaining the Market Need
The results of the study revealed that there was a tremendous bottleneck between the huge demands of door to door container logistics service in China and small scale independent fleet owners in US ports. The Company feels that its experience in providing logistics service and solutions, coupled with its long term relationships with major shipping carriers, provide it a competitive advantage to build a mobile-based platform.
Sino-Global is currently evaluating technology and business partners to move forward with the development of the mobile application, which the management hopes to launch in 2017.
Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We were very pleased with the findings of our initial research into a mobile-based logistics strategy. We believe that Sino-Global is in the right position to solve bottleneck issues in this traditional industry with mobile application technology. We connected with major shipping carriers in China and multiple small short-haul trucking fleet operators in US. Universally each one recognized the benefit of an easily accessible and transparent mobile logistic platform which will bring market efficiency to our industry. The Company estimates that this platform would create a considerable savings for major shipping carriers in China in terms of short-haul trucking in US and streamline the process, while also providing independent fleet operators with more opportunities of direct communication with clients and reducing intermediate steps. We will continue to update investors as we develop the application and are incredibly excited about its potential."
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