China Merchants Shipping: Recently, the flow of traffic on the Middle East to Persian Gulf route has partially recovered, driving up VLCC tanker freight rates.

China Merchants Shipping announced on June 24 that the closing price of the company's stock on June 22, June 23, and June 24 had a cumulative deviation of over 20%. The production and operation of the company's fleet is normal. The recent increase in traffic on the Middle East route in and out of the Persian Gulf has led to an increase in VLCC tanker freight rates. The company predicts that the resumption of navigation in the Middle East Persian Gulf in the short term will continue to have uncertainty, and the related shipping market freight rates will face continued risks of violent fluctuations. The trend of freight rates is uncertain, and it is difficult to accurately predict the risks for now.