MingZhu Logistics (YGMZ, $0.94) enters $34 million long-term agreement with Tianfu

MingZhu Logistics Holdings Ltd. announced a $34 million agreement with Xinjiang Tianfu Yitong Supply Chain Management Co, Ltd. (“Tianfu”), where the companies will partner in establishing a long-term transportation relationship. The agreement is expected to allow  MingZhu’s transportation and logistics expertise to handle the transportation of bulk coal cargo between Tianfu Yitong’s operations in Gansu, Qinghai, and Xinjiang.

Tianfu is a logistics service provider (including data platform and integrated supply chain solutions) specializing in coal, ore, and other bulk goods.  

MingZhu is a 4A-Grade trucking service provider having a fleet of more than 1500 trucks in 29 regions throughout China. The company also recently acquired transportation service provider Feipeng.  MingZhu has a key role in China’s “Belt and Road” initiative.