COSCO SHIPPING: As the conflict in the Middle East continues to escalate, new bookings on related routes will be suspended from today.

COSCO Shipping Container Lines issued a risk assessment and service adjustment announcement based on the latest situation of escalating conflict in the Middle East and traffic restrictions in the Strait of Hormuz. In order to ensure the safety of customers' cargo transportation and the stability of the overall shipping operation to the greatest extent, the company has decided to suspend the new booking business involving specific Middle East countries' routes from now on. The specific scope includes: all new bookings for exports from the world to the United Arab Emirates (except Fujairah and Haurfekan), Qatar, Bahrain, Iraq, Saudi Arabia (except Jeddah) and Kuwait; at the same time, all new bookings for imports from the above-mentioned countries and regions to the world are also suspended. The adjustment is a preventive safety measure aimed at avoiding shipping risks caused by regional conflicts and ensuring the safety and efficiency of existing routes. The business recovery time will be notified separately depending on the subsequent development of the regional security situation.