according to the latest report of project44, in order to cope with the decline of export freight volume, the shipping alliance is preparing to cancel more than one-third of Asian routes in the coming weeks. The blank navigation strategy adopted by these alliances to mitigate the impact of the epidemic blockade will further prolong the delivery cycle of goods, especially the voyage to northern Europe. Project44 said in the report that after the outbreak of COVID-19 in China in the first quarter of this year, the shipping company implemented a variety of mixed blank navigation strategies to maintain the integrity of the shipping schedule. This year, the suspension percentage of the world's three major container shipping alliances fluctuated between 17% and 55%. Liner companies still use blank sailing to better control their capacity, achieve the integrity of shipping schedule and ensure that the capacity is available in the right place. According to the data of project44, the blank voyages of 2m alliance have decreased before, but now it seems to be increasing. In the next few weeks, 2m alliance will have more blank voyages than other alliances. Due to the decline in demand caused by the closure and control of the epidemic in China, it is expected that between the 17th and 23rd weeks, the alliance will cancel 33% of the Asian flights, ocean will cancel 37% of the Asian flights, and 2m alliance will cancel 39% of the first flights. 2m Alliance announced a blank voyage, and Herbert issued a port hopping notice Mediterranean Shipping recently announced that due to the continuous challenging market situation leading to the congestion and delay of the whole supply chain, the following flights will be cancelled: Asia East US Route: Routes from Asia to Europe: In addition, MSC also said recently that "due to the continuous severe market situation", the voyage of 18340teu "Mathilde Maersk" on its ae10 Asia Nordic route between silk and Maersk would be cancelled in early June. Maersk said that the unprecedented severe congestion in global ports will continue to lead to cumulative delays on multiple flights from Asia to the Mediterranean service network. This situation is caused by increased demand and measures taken by the whole port and supply chain to combat the epidemic. The accumulated delays are now causing further gaps in shipping schedules and have led to more than seven days between departures from Asia. In this regard, Maersk decided to start adjusting the voyage to match the corresponding ships and services. In addition, Herbert has also issued a shipping schedule adjustment notice. Its MD1, MD2 and MD3 routes from Asia to the Mediterranean will cancel the connection with Shanghai port, Ningbo port and Busan Port in the next eight weeks. At the same time, due to the reduction of export volume and the resulting cancellation of voyages, the delivery time of goods from Asia to northern Europe continues to increase. According to project44, the delivery time of goods from China to northern Europe and the UK has increased by 20% and 27% respectively in the past 12 months. Congestion in Shanghai port and Los Angeles Long Beach port In terms of port congestion, the report of project44 shows that the detention time of import containers in Shanghai Port reached a peak at the end of April, nearly 16 days, while the detention time of export containers remained relatively stable, about 3 days. "The long detention time of imported containers is due to the shortage of truck drivers who are unable to pull out the unloaded containers in time. Similarly, the sharp decline in the volume of inbound exports means that the number of containers shipped from Shanghai is reduced, which shortens the detention time of export containers," it explained However, Maersk announced yesterday that the density of the refrigerated cargo yard in Shanghai port has gradually decreased, and it will restart accepting the refrigerator reservation in Shanghai. The first batch of goods received will arrive in Shanghai from June 26. In addition, the congestion of Long Beach port in Los Angeles has improved. According to the official website of Los Angeles port, as of May 9, there were 36 ships waiting to berth outside the two ports, and the average waiting time of ships outside Los Angeles port was 2.6 days. The project44 report points out that the improvement of port conditions in Southern California may not last forever, because the upcoming labor contract negotiation may lead to a shortage of dockers, reduce port efficiency, and prolong the queuing time of ships in summer. As some Chinese factories resume normal production, a large number of containers will be transported to the US coast, which may further complicate the problem of the already strained multimodal transport system. Disclaimer The information in this report comes from public data. Tianjin Keyun Logistics Group Co., Ltd. makes no guarantee for the accuracy and completeness of these information. The information, conclusions and views contained in the report are only for reference. Any investment decision made by the investor on this basis has nothing to do with the company.

the spot exchange rate of RMB against the US dollar fell below the 6.74, 6.75, 6.76, 6.77, 6.78 and 6.79 mark in a row, closing at 6.7900 at 16:30, down 626 basis points from the previous trading day. This closing price hit a new low since October 2020. After entering the night trading time, the spot exchange rate of RMB against the US dollar once approached the 6.80 mark. On May 12, the offshore RMB exchange rate against the US dollar fell below the 6.77, 6.78, 6.79, 6.80, 6.81 and 6.82 levels one after another, down more than 550 basis points from the previous trading day. Compared with the onshore market, the offshore RMB fell more this year, with a cumulative decline of more than 7%. "At the closing price, the RMB fell against the US dollar for six consecutive trading days. Overnight, the US April inflation data exceeded expectations, driving the US dollar index to break through the 104 mark, catalyzing the sharp decline of the RMB on the 12th." A person from the financial market department of a large state-owned bank said that in addition, affected by the epidemic, the trading volume of the spot exchange rate did not improve, which also amplified the fluctuation of the RMB. After the sharp decline that began in late April, the spot exchange rate of RMB against the US dollar has fallen by 6.5% this year. "According to the time point and the relevant process during the period, the weakening of market expectations after the impact of the epidemic on China's economy is an important reason for the sudden depreciation of the RMB against the US dollar. After April, the market's concern about the impact on the economy gradually increased. Coupled with the weaker than expected economic data in the first quarter, the market's expectation of China's economic prospects shifted, thus breaking the stable process of the RMB against the US dollar. "Shanghai Securities pointed out in the latest research report that" China's economy is already in the decline period of economic growth in the shift period of growth. The impact of the superposition of the conflict between Russia and Ukraine on the prospects of economic growth has made the market form different expectations for the change direction of economic growth between China and the United States. " The agency predicts that the fluctuation range of RMB exchange rate will increase in the short term, or rise again after devaluation, and the RMB will rise to the equilibrium zone of 6.30-6.40 in the medium term. Although the depreciation of RMB improves the profit margin of export enterprises, it also hopes that the exchange rate will be stable For import and export enterprises, the impact of exchange rate changes is more complex. Generally speaking, the depreciation of RMB is a good thing for export enterprises, because the US dollars they get at the time of settlement can be exchanged for more RMB. Although the devaluation of RMB can improve a certain profit margin, the operation of enterprises is complex and can not be generalized. Many listed enterprises involved in product export said that the depreciation of RMB can improve the profits of foreign trade orders undertaken by the company, and will subsequently improve the competitiveness of the company's product prices in the international market and facilitate the undertaking of new orders. However, the positive factors brought by the exchange rate actually have a limited impact on small and medium-sized enterprises. In the long run, the sharp fluctuation of interest rate in a short time may bring uncertainty to future orders. One reason is that there is a mismatch between the exchange rate advantage period and the accounting period. If the exchange rate depreciation period does not coincide with the settlement remittance period, the impact of the exchange rate is not large. Generally speaking, enterprises do not have a fixed settlement period. Generally, the settlement begins when an order is "out of the box", which means that the customer has received the goods. Therefore, exchange rate settlement is actually randomly distributed in various time periods of a year, so it is difficult to predict the actual settlement time. In addition, the buyer's payment also has an accounting period. It is impossible to pay on the day of receipt. Generally, it takes 1 to 2 months, and some large customers may take 3 to 4 months. At present, the goods in the collection period account for only 5% to 10% of the annual trade volume, which has little impact on the annual profit. The second reason is that small and micro foreign trade enterprises are in the weak side of price negotiation, and the rapid fluctuation of exchange rate leads to being forced to give up profits. He said, "it's not good for the exporter to devalue the US dollar for a period of 40 days, but it's not good for the exporter to devalue the US dollar for a period of two months. In this way, he said, it's not good for the exporter to devalue the US dollar for a period of 40 days." Compared with the impact of exchange rate changes, small and micro export enterprises are facing two more difficult problems: one is the reduction of orders and the other is the rise of costs. From the macro data, the latest data released by the General Administration of Customs on May 9 showed that the total value of China's import and export of goods trade in April was 3.16 trillion yuan, a year-on-year increase of 0.1%, and the growth rate was 5.7 percentage points lower than that in March. Among them, exports increased by 1.9% year-on-year, much lower than the 12.9% growth rate in March; Imports fell by 2%, an increase of 0.3 percentage points over March. From January to April, the total value of China's foreign trade import and export was 12.58 trillion yuan, a year-on-year increase of 7.9%, 2.8 percentage points lower than that in the first quarter. Among them, exports increased by 10.3% and imports increased by 5%. The general manager of a commodity export enterprise in Ningbo said that he began to feel the decline in order volume after the Spring Festival this year, that is, in February and March, especially in April, "at least 20% less". He analyzed that last year, foreign customers panic shopping, so last year's export business was very hot. At the same time, last year's shipping costs also experienced a surge. "In March and April 2020, the freight of American and European routes was basically $2000-3000 per container. Last year, it was a peak in August, September and October, rising to $18000-20000." The transmission of prices takes time. Last year's goods may be sold this year, and the price of products will rise with the rise of freight. As a result, inflation in the United States is very serious and prices are soaring. In this case, the goods are overstocked, the inventory is particularly large, and the order volume this year is reduced accordingly. In addition, the traditional way of contact between foreign trade enterprises and customers is mainly offline exhibitions, such as the Canton Fair. Affected by the epidemic, the opportunity to contact customers is also relatively reduced. An exporter of sanitary products in Yiwu felt another reason for the decrease in orders - industrial transfer. "In recent years, labor-intensive industries have shifted significantly, mainly to Vietnam, Turkey, India and other countries, and the export of hardware and bathroom products has felt great pressure." He said. "Industrial transfer is very terrible for us, because this process is irreversible. Customers find alternative suppliers in other countries. As long as there is no problem with cooperation, they will not come back." Rising costs There are two increases in costs: one is the rise in the price of raw materials, and the other is the increase in logistics costs. Raw materials: an exporter engaged in metal products said that the supply of upstream products decreased by about 10% due to the rise of raw material prices, and the cost also increased greatly. Among them, an exporter engaged in domestic engineering equipment in Qingdao, Shandong said that due to the impact of the epidemic, the traffic and logistics are not smooth, the raw materials are very short and the price rises. "The price of iron products purchased some time ago has increased by 20% - 30%." Logistics: the indirect interruption of logistics makes the production exporters pay a lot of additional costs. First, the penalty for failing to deliver goods on time is about $300-400 per day. The reason why the goods cannot be delivered on time lies in the upstream production links. For example, the manufacturers are closed due to the epidemic, the logistics of raw materials is not smooth, and it is difficult to find freight drivers, so various factors are difficult to control. Second, queue up for warehousing. The need for epidemic prevention and control has led to a longer process and time for entering the warehouse. It could have been completed in one day, but now it may have to be delayed to the next day, which requires an additional "overnight fee" to be paid to the driver. Third, the "lottery fee" of containers. 6. July and August are the peak of foreign trade. A large number of commodities will be concentrated in the port waiting for transportation, resulting in a shortage of containers. At that time, the lottery system will be adopted. The lottery time is between 9:00 a.m. and 3:00 p.m. if the number is not reached, it means that the goods cannot be delivered on time, and the customer needs to be compensated with liquidated damages, which is about 300-400 dollars. In order to ensure that the goods are delivered on time, foreign trade enterprises have to find scalpers to shake, and it will cost an additional 600 yuan to brush a container. An exporter in Yiwu said that its suppliers are distributed in Hebei, Fujian, Guangdong and other places. "Now many goods are stuck in logistics and can't get down at high speed." In addition, the export of products mainly starts from Ningbo port. The positive confirmed cases from time to time make the logistics output of Ningbo Port unstable. Disclaimer The information in this report comes from public data. Tianjin Keyun Logistics Group Co., Ltd. makes no guarantee for the accuracy and completeness of these information. The information, conclusions and views contained in the report are only for reference. Any investment decision made by the investor on this basis has nothing to do with the company.

Recently, China International Freight Forwarding Association released the data of China's international freight forwarding logistics industry in 2020, including the top 100 Chinese international freight forwarding logistics enterprises in 2020, the top 50 in maritime, air and land transportation business, the top 20 in warehousing business and the top 50 in private enterprises. Top 100 list Shipping list Air transport list Land transport list Storage list Private list (the list data and pictures are from "China International Freight Forwarders Association")

Xi Jinping attends the opening ceremony of the second UN Global Conference on sustainable transportation and delivers a keynote speech It emphasizes that we should adhere to openness, linkage, common development, innovation driven, ecological priority and multilateralism, and write a new chapter in infrastructure connectivity, smooth trade and investment, and civilized integration and communication On the evening of October 14th, President Xi Jinping attended the opening ceremony of the second United Nations Global Conference on sustainable transportation by video and delivered a keynote speech entitled "crossing with the world and connecting with the times and striding forward on the road of sustainable development". Photo by Xinhua News Agency reporter Li Tao Xinhua news agency, Beijing, October 14 (Xinhua News Agency) - President Xi Jinping attended the opening ceremony of the second United Nations Global Sustainable Transportation Conference by video on the evening of 14 and delivered a keynote speech entitled "crossing with the world and connecting with the times on the road of sustainable development". Xi Jinping pointed out that transportation is the vein of economy and the link of civilization. From the camel bells and sails on the ancient Silk Road, to the chopping waves in the era of navigation, and then to the extension of modern transportation network in all directions, transportation promotes economic integration and cultural exchanges, making the world a closely connected "global village". At present, the superposition of century changes and century epidemics has brought serious challenges to world economic development and the improvement of people's livelihood. We should comply with the general trend of world development, promote global transportation cooperation, and write a new chapter in infrastructure connectivity, smooth trade and investment, and civilized integration and communication. On the evening of October 14th, President Xi Jinping attended the opening ceremony of the second United Nations Global Conference on sustainable transportation by video and delivered a keynote speech entitled "crossing with the world and connecting with the times and striding forward on the road of sustainable development". Photographed by Xinhua News Agency reporter Liu Bin First, adhere to open linkage and promote interconnection. We should promote the construction of an open world economy, avoid discriminatory and exclusive rules and systems, and promote economic globalization in a more open, inclusive, inclusive, balanced and win-win direction. We should strengthen the "hard connection" of infrastructure and the "soft connection" of systems and rules, and promote the "four in one" interconnection of land, sea, sky and network. Second, adhere to common development and promote fairness and inclusiveness. Development together is real development, and common prosperity is real prosperity. Only by solving the problem of unbalanced development can we open up broader prospects for the common development of mankind. We should give play to the leading role of transportation, increase investment in transportation in poor areas, and make the economy and people's livelihood in poor areas prosper because of the road. We will strengthen North South and South South cooperation, provide more support for the transportation infrastructure construction of the least developed countries and landlocked developing countries, and promote common prosperity. Third, adhere to innovation driven and enhance the momentum of development. We should vigorously develop smart transportation and smart logistics, promote the deep integration of new technologies such as big data, Internet, artificial intelligence and blockchain with the transportation industry, so that people can enjoy their travel and things can flow smoothly. Fourth, adhere to ecological priority and realize green and low-carbon. The long-term strategy to achieve sustainable development is to establish a green and low-carbon economic system and promote the comprehensive green transformation of economic and social development. We should accelerate the formation of green and low-carbon transportation modes, strengthen green infrastructure construction, promote new energy, intelligent, digital and lightweight transportation equipment, encourage and guide green travel, and make transportation more environmentally friendly and low-carbon. Fifth, adhere to multilateralism and improve global governance. We should practice the global governance concept of consultation, co construction and sharing, mobilize global resources, meet global challenges and promote global development. Maintain the authority and status of the United Nations, and comprehensively promote cooperation in poverty reduction, health, transportation and logistics and infrastructure construction around the implementation of the United Nations 2030 agenda for sustainable development. It is hoped that all parties will actively participate in the global development initiatives put forward by China. On the evening of October 14th, President Xi Jinping attended the opening ceremony of the second United Nations Global Conference on sustainable transportation by video and delivered a keynote speech entitled "crossing with the world and connecting with the times and striding forward on the road of sustainable development". Photo by Xinhua News Agency reporter Yin Bogu Xi Jinping pointed out that since the founding of the people's Republic of China, generations of people have built a large transport country and are accelerating the construction of a powerful transport country. We have built the world's largest high-speed railway network, expressway network and world-class port group, with air and navigation access to the world. We adhere to the guidance of innovation. Major breakthroughs have been made in the manufacturing of high-speed rail, large aircraft and other equipment. New energy vehicles account for more than half of the global total. Super large transportation projects such as Hong Kong Zhuhai Macao Bridge and Beijing Daxing International Airport have been completed and put into operation. Transportation has become a pioneer in China's modernization. We adhere to the world's transportation, and have become the economy with the highest maritime connectivity and the largest cargo trade volume in the world. During the new crown pneumonia epidemic, China Europe trains and ocean going freighters shuttled day and night to fully ensure the stability of the global industrial chain and supply chain, reflecting China's responsibility. Xi Jinping stressed that China will continue to hold high the true banner of multilateralism, adhere to the intersection with the world and connect with the times, and make greater contributions to global development while realizing its own development. China's direction of building a new high-level open economic system will not change, and its determination to promote trade and investment liberalization and facilitation will not change. The door of China's opening up will only open wider and wider and will never be closed. China will continue to promote high-quality joint construction of the "the Belt and Road Initiative", strengthen infrastructure connectivity with other countries, and accelerate the construction of the green silk road and the digital silk road. Xi Jinping announced that China will establish China's international innovation and knowledge center for sustainable transportation and contribute to global transportation development. Xi Jinping finally stressed that let us join hands to follow the right path of interconnection, mutual benefit and win-win, jointly build a world of lasting peace, universal security, common prosperity, openness, inclusiveness, cleanness and beauty, and promote the construction of a community of shared future for mankind. Ding Xuexiang, Liu He, Cai Qi, Wang Yi and he Lifeng attended the opening ceremony. The second United Nations Global Conference on sustainable transportation was held in Beijing from October 14 to 16. Russian President Vladimir Putin, Turkmenistan president Berdymukhamedov, Ethiopian president Sahel walker, Panamanian President cortiso, Dutch Prime Minister Ruud and UN Secretary General Guterres were invited to deliver speeches by video. Representatives of 171 countries attended the opening ceremony. Source: Xinhua News Agency

in recent days, the shortage of supply chain continues to affect American consumers. The holiday season is coming, and the shortage of supply chain continues to affect American consumers. Many media have said that this year's Christmas may not even be delivered in time. The Biden administration of the United States issued a plan on the 13th local time, requiring the ports of Long Beach, California and Los Angeles to operate around the clock. In addition, many zero sales and logistics companies will also announce the extension of freight operation time on the 13th to increase commodity supply. It is reported that in his speech at the White House on the 13th, Biden announced a 7-day, 24-hour uninterrupted logistics measure for cooperation with ports, express delivery and retailers, and said that after several weeks of negotiations, the parties finally reached a consensus. Biden stressed that the transportation period at night is crucial because there are fewer vehicles on the highway at that time. In addition, Biden called on all private businesses to cooperate to ease the tension in the supply chain, and threatened to name those companies that did not cooperate. The port of Los Angeles announced on the 13th that it would operate 24 hours a day, 7 days a week. In September, California's Long Beach port began to adopt this approach (the two major ports account for about 40% of the imported containers in the United States). The Biden administration believes that allowing ports to speed up the handling of containers and extending the working hours of freight railways and warehousing logistics is the fastest and most effective way to alleviate the tension of the supply chain. On October 7, 60 container ships were waiting to dock and unload in the peripheral waters of Los Angeles port and Long Beach port, but it was extremely rare for one container ship to wait before the epidemic. According to the analysis: The reasons for the sluggish port operation include the rebound in consumer demand in the United States, the backward freight railway system and the insufficient number of dockers and truck drivers. These problems have also led to soaring freight costs. Soaring transportation costs also stimulated the rise of prices, which eventually affected American consumers. Some retail companies have begun to encourage consumers to buy gifts and goods in advance of the holiday season in case of late purchase, shortage or transportation delay. The reasons for the sluggish port operation include the rebound in consumer demand in the United States, the backward freight railway system and the insufficient number of dockers and truck drivers, which also make freight costs soar. In August 2020, the cost of each container from China to the west coast of the United States was only $3000. By September this year, the price soared to more than $20000. Soaring transportation costs also stimulated the rise of prices, which eventually affected American consumers. Some retail companies have begun to encourage consumers to buy gifts and goods in advance of the holiday season in case of late purchase, shortage or transportation delay. With the arrival of the peak season and the surge in shipments, the problem of port congestion in the United States may not be solved for a while. Disclaimer The information in this report comes from public data. Tianjin Keyun Logistics Group Co., Ltd. makes no guarantee for the accuracy and completeness of these information. The information, conclusions and views contained in the report are only for reference. Any investment decision made by the investor on this basis has nothing to do with the company.

the consignor and forwarder should pay special attention to that the goods will not be delivered to the consignee unless the consignor provides the general average adjuster with the general average guarantee and relevant documents. According to Lloyd's daily, the Suez Canal Authority (SCA) will claim about $1 billion in compensation for the blockage of the Suez Canal by the "long grant" ship. Osama rabie, chairman of the Suez Canal Authority, said in a television interview that the fee involved toll losses, damage to the canal caused by dredging and salvage work, as well as equipment and labor costs. Shoei Kisen Kaisha, the owner of the vessel, has confirmed that it will discuss the issue of compensation with SCA. It is understood that the insurance company of "long grant" is UK club, which is a member of P & I Club. According to public information, P & I Club is composed of 13 member associations. It provides liability insurance for about 90% of ocean going ships in the world, and will jointly share claims of more than US $10 million. Regarding the claim, a Senior P & I Club source said: "SCA is known for making exaggerated salvage claims, even for small jobs. The exact amount will depend on the relevant regulations and transportation terms." The source said the annual revenue of the Suez Canal is about $5.7 billion, about $110 million a week, and the rescue cost is about tens of millions of dollars. "Do you really think they're going to lose a billion dollars in six days?" At the same time, Japan's Zhengrong steamship also proposed general average, and Richard Hogg Lindley was appointed as the adjuster. Dear customer, on March 23, 2021, our chartered ship ever gift (hereinafter referred to as "the ship") was on the way from Malaysia to Rotterdam when it ran aground in Egypt's Suez Canal. After six days of towing and rescue operation, the ship was resurfaced on March 29. The above-mentioned towing operation is a general average act. Therefore, the ship East declared general average on April 1 and appointed general average adjuster Richards Hogg Lindley to collect relevant general average guarantee. Please refer to the general average declaration, standard instruction and average guarantee issued by the owner and Richards Hogg Lindley. According to Clause 27 of our bill of lading, the goods shall not be delivered to the consignee unless the shipper submits the necessary general average guarantee (including such additional guarantee as we may require) and relevant documents to the general average adjuster who agrees to release the goods. In order to enable you to receive the goods smoothly and avoid delay in delivery, please contact the general average adjuster as soon as possible and provide the necessary guarantee and documents in accordance with the instructions below. The insured goods (a) a letter of average guarantee signed by the cargo insurer and a copy of the cargo invoice should be provided. Please send the documents to the following e-mail box according to your region. Please make sure to note the name of the vessel, your B / L number and container number in the email. Europe / UK, email:eg-casualty@rhl-ct.com , Tel. + 44 151 433 3320 other regions, email: Singapore.GA @rhl- ct.com , Tel. + 65 6506 2897 / 8 (b) the shipowner chooses not to ask for the letter of average bond from the shipper, but the general average adjuster reserves the right to ask for the letter from the shipper at any time. Uninsured goods (a) the average bond signed by the owner And provide a copy of the invoice, which can be directly uploaded to the following link: https://eu.docusign.net/Member/PowerFormSigning.aspx?PowerFormId=86f508b6-b5f4-46fc-8fbf-e9ae19d5a58f&env=eu&acct=c8fe1757-d24b-4004-a382-f736dd5cf208&v=2&CasualtyId=7&CasualtyName=EVER+GIVEN+Grounding+in+Suez+Canal+on+23-Mar-2021 (b) The consignor shall pay cash guarantee, and the amount of cash guarantee The degree has not yet been determined. Please refer to the attachment standard instruction and Richards Hogg Lindley website for details of cash guarantee amount and bank account arrangement. For more information or download the guarantee form separately, please go to the website of the general average adjuster below. Please select the name of the vessel Gift, password ge2123 https://rhlclientarea.ctplc.com * precautions for consolidation * in order to quickly identify the details of individual cargo in the container, the forwarder / cargo Contractor shall provide the general average adjuster with complete manifest information of consolidation cargo as soon as possible, including bill of lading number, description of cargo content, cargo weight, shipper and consignee. In order to avoid unnecessary delay in receiving the goods, please deal with it as soon as possible to meet the requirements of general average. I would like to remind you again that unless the cargo provides the general average adjuster with the above general average guarantee and related documents, the goods will not be delivered to the consignee. If you have any other questions, you can contact Richard Hogg Lindley directly through the email address in standard instructions. We reserve the right to claim in accordance with the terms of the bill of lading. Thank you for your cooperation! According to sun Mingqi, member of the expert committee of China Maritime Arbitration Commission, it is a common shipwreck that the ship is stranded during the voyage. In the event of a shipwreck, the shipowner or master has the right to arrange emergency rescue on behalf of the shipowner, so that the ship and cargo can be out of danger in time and the ship can continue its voyage. When the ship entrusts the salvor to carry out the salvage, it should immediately announce the general average, and entrust an internationally qualified general average adjustment company as soon as possible to assist in collecting all the evidence necessary for handling the accident, so as to facilitate the future general average adjustment. The salvage expenses incurred shall be included in the loss of general average, which shall be apportioned between the ship and the cargo according to their respective proportions of the value of the property rescued. As for the salvage expenses shared by all parties of the cargo, they need to claim compensation from their respective insurance companies in accordance with the terms of the insurance policy. The expenses usually classified as general average include: repair expenses of hull and machinery damage (including temporary repair expenses), direct loss of cargo on board (including expenses of moving cargo), expenses of ship's own or towing to the port of refuge (including fuel, fresh water, port expenses and towing expenses), expenses related to ship and cargo inspection, and expenses for adjustment of total loss Relevant expenses. Disclaimer The information in this report is from public information. Tianjin KEYUN Logistics Group Limited by Share Ltd does not guarantee the accuracy and completeness of these information. The information, conclusions and opinions contained in the report are for reference only. Any investment decision made by investors based on this is irrelevant to the company.

the promotion action will focus on the four aspects of "stable and reliable service", "timely and accurate information", "visual and convenient service" and "rapid response to demand" concerned by customers. At present, the epidemic situation of new crown pneumonia has an impact on the global industrial chain and supply chain cycle, leading to severe challenges to the stability of global logistics supply chain. COSCO Shipping said that container transportation is an important part of the global logistics supply chain, and it is also one of the core business sectors of COSCO Shipping. In the current systematic difficulties of the supply chain, it also faces the biggest challenge. In order to better guarantee the smooth flow of international trade, build a new development pattern of service, and make every effort to solve the logistics blocking points, pain points and difficulties faced by global customers including Chinese foreign trade enterprises, COSCO Shipping announced that it will launch the global customer service improvement action in 2021. It is understood that in 2021, COSCO will focus on four aspects of "stable and reliable service", "timely and accurate information", "visual and convenient service" and "rapid response to demand" concerned by customers, relying on the upgraded global information system and using digital service means to strive to present excellent service quality for global customers. The specific measures are as follows: first, abide by the spirit of the contract, innovate the service mode, and provide stable and reliable whole journey transportation service. For long-term cooperative customers, we will respect the contract and implement the cabin guarantee; at the same time, we will use the sync hub foreign trade e-commerce platform to realize self-service price inquiry and online confirmation booking, so as to meet the cabin demand of small and medium-sized customers to the maximum extent. While improving the standardized services, COSCO Shipping will further differentiate industries and customize the end-to-end service process, so as to better meet customers' demand for supply chain services. 2、 In order to further improve the service standards and achieve more timely and accurate service information, COSCO Shipping will determine the document accuracy target on the basis of the original nine service standards, and further extend the global service standards from sea transportation to both ends. 3、 Make full use of digital means to improve the convenience and visibility of services COSCO's shipping consolidation plate uses the blockchain platform to promote paperless import delivery service. In 2021, the prescription of blockchain will be further upgraded, the circulation of blockchain bills of lading will be realized, and the paperless shipping industry will continue to be promoted. 4、 Through the construction of Omni channel customer service platform to improve service response speed, COSCO Shipping will be committed to building a unified intelligent customer service platform, monitoring Omni channel service in real time, and continuously improving global service response speed. The information in this report is from public information. Tianjin KEYUN Logistics Group Limited by Share Ltd does not guarantee the accuracy and completeness of these information. The information, conclusions and opinions contained in the report are for reference only. Any investment decision made by investors based on this is irrelevant to the company.

at 9 am today (March 5), the opening session of the fourth session of the 13th National People's Congress was held in the Great Hall of the people. Premier Li Keqiang, on behalf of the State Council, delivered a report on the work of the government to the fourth session of the 13th National People's Congress. According to the government work report, in the past year, in the face of a rare impact in history, on the basis of the "six stabilities" work, China clearly put forward the task of "six guarantees", implemented phased large-scale tax reduction and fee reduction, and combined with institutional arrangements. In 2020, China will reduce the burden of market players by more than 2.6 trillion yuan, including 1.7 trillion yuan of social security fee reduction. After hard work, China took the lead in resuming work and production, and the economic recovery was better than expected. In 2020, GDP will grow by 2.3%. The joint construction of the "the Belt and Road Initiative" has steadily progressed. Hainan free trade port construction and other major initiatives have been launched one after another. We will promote the signing of regional comprehensive economic partnership agreements. China EU investment agreement negotiations will be completed. Maintain the stability of industrial chain and supply chain, and maintain the growth of foreign trade and utilization of foreign capital. In addition, in 2020, we will vigorously promote scientific and technological innovation and accelerate the pace of industrial transformation and upgrading. Promote the digital and intelligent transformation of the industry, and maintain the rapid development momentum of strategic emerging industries. The government work report also introduces the development achievements during the 13th Five Year Plan period. In the past five years, the GDP has increased from less than 70 trillion yuan to more than 100 trillion yuan. Major breakthroughs have been made in comprehensively deepening reform, supply side structural reform has continued to advance, and the business environment has continued to improve. The opening up to the outside world has continued to expand, and the joint construction of the "the Belt and Road Initiative" has achieved fruitful results. The "fourteenth five year plan" period is the first five years to start a new journey of building a socialist modern country in an all-round way. Li Keqiang said that it is necessary to accurately grasp the new development stage, thoroughly implement the new development concept, speed up the construction of a new development pattern, promote high-quality development, and make a good start for building a socialist modern country in an all-round way. This year is of special importance in China's modernization drive. What are China's major goals and tasks? What aspects should port and shipping personnel focus on? China Aviation weekly specially summarizes the following key words. Economic Development: GDP growth of more than 6%. The import and export volume rose steadily and the balance of international payments was basically balanced. The expected target of economic growth is set at more than 6%, taking into account the recovery of economic operation, which is conducive to guiding all parties to focus on promoting reform and innovation and promoting high-quality development. We should better coordinate epidemic prevention and control and economic and social development. Import and export trade: strengthen credit support for small and medium-sized foreign trade enterprises, expand the coverage of export credit insurance, optimize the conditions for underwriting and claims settlement, and deepen the pilot project of trade and foreign exchange revenue and expenditure facilitation. Stabilize processing trade, develop cross-border e-commerce and other new formats and models, and support enterprises to explore diversified markets. Innovate and develop service trade. We will optimize and adjust import tax policies and increase imports of high-quality products and services. We will do a good job in major exhibitions such as China International Trade Fair, China Canton Fair and China International Trade Fair. Promote the smooth flow of international logistics, clean up and standardize port charges, and constantly improve the level of customs clearance facilitation. Utilization of foreign capital: actively and effectively utilize foreign capital. Further reduce the negative list of foreign investment access. We will promote the orderly opening up of the service industry, set up comprehensive pilot projects to expand the opening up of the service industry, and formulate a negative list of cross-border service trade. We should promote the construction of Hainan free trade port, strengthen the reform, opening up and innovation of the pilot Free Trade Zone, promote the integrated development of the special customs supervision area and the pilot Free Trade Zone, and give full play to the role of opening platform of various development zones. Regional Economic Cooperation: deepen multilateral, bilateral and regional economic cooperation. Firmly safeguard the multilateral trading system. Promote the early entry into force and implementation of the regional comprehensive economic partnership agreement and the signing of the China EU investment agreement, accelerate the negotiation process of the China Japan ROK free trade agreement, and actively consider joining the comprehensive and progressive trans Pacific Partnership Agreement. On the basis of mutual respect, we will promote the development of Sino US economic and trade relations based on equality and mutual benefit. Expand domestic demand: adhere to the strategic basis of expanding domestic demand and fully tap the potential of the domestic market. Closely around improving people's livelihood, expand demand, promote the effective combination of consumption and investment, and achieve a higher level of dynamic balance between supply and demand. Fiscal and tax policies: continue to implement the institutional tax reduction policy, extend the implementation period of some phased policies such as value-added tax preference for small-scale taxpayers, implement new structural tax reduction measures, and hedge the impact of some policy adjustments. Increase the threshold of VAT for small-scale taxpayers from 100000 yuan to 150000 yuan. For small and micro enterprises and individual businesses, the annual taxable income of less than 1 million yuan will be reduced by half on the basis of the current preferential policies. Cost reduction: promote the reduction of production and operation costs of enterprises by means of reform. We will promote the reform of energy, transportation, telecommunications and other basic industries, improve service efficiency, and reduce fees. We will comprehensively promote differentiated toll collection on expressways, and resolutely rectify the height and width limitation facilities and check points that hinder the passage of freight cars. Cancel port construction fee. Enterprise innovation: strengthen the dominant position of enterprise innovation, encourage leading enterprises to form innovation consortia, and expand the integration channel of industry, University, research and application. We will continue to implement the policy of 75% deduction for enterprise R & D expenses, increase the proportion of deduction for manufacturing enterprises to 100%, encourage enterprises to increase R & D investment with preferential tax mechanism, and strive to promote enterprises to lead development with innovation. Optimize the supply chain: continue to complete the important task of "three removal, one reduction and one compensation". For advanced manufacturing enterprises, the incremental VAT allowance will be refunded in full on a monthly basis, the proportion of manufacturing loans will be increased, and investment in equipment renewal and technological transformation will be expanded. Enhance the independent and controllable ability of industrial chain supply chain. We will strengthen the construction of 5g network and gigabit optical network, and enrich the application scenarios. We will coordinate the layout of emerging industries. Strengthen the quality infrastructure construction, deeply implement the quality improvement action, and promote the effective convergence of upstream and downstream standards in the industrial chain. Attachment: one picture to understand the government work report The information in this report is from public information. Tianjin KEYUN Logistics Group Limited by Share Ltd does not guarantee the accuracy and completeness of these information. The information, conclusions and opinions contained in the report are for reference only. Any investment decision made by investors based on this is irrelevant to the company.

evolution of five major trends: from "barbaric growth" to "intensive cultivation" Cindy Tai, global vice president of Amazon and Asia Pacific head of Amazon's global stores, said: "in the past five years, China's seller community has been growing and has become one of the important forces to provide high-quality products to global consumers. China's export cross-border e-commerce industry and sellers have experienced an evolution from "barbaric growth" to "intensive cultivation". Export cross-border e-commerce is becoming an important support force for China's foreign trade, and is changing from a "new format" to a "new normal" The report shows that in the past five years, global cross-border e-commerce has developed rapidly. The epidemic situation has prompted the global consumption trend to shift from offline to online, and the development opportunities and challenges of cross-border e-commerce industry coexist. Based on the relevant data of Amazon and the survey of Chinese sellers, the report summarizes and shares five significant trends of Chinese sellers in the past five years. Trend one: more diversified seller regions and types. The seller's geographical distribution is increasingly extensive, extending from the Pearl River Delta and the Yangtze River Delta to the inland, and the seller's scale in the West Coast Economic Zone, central and northern regions is growing rapidly. Among them, the Yangtze River Delta, as China's traditional manufacturing industry gathering place, has the fastest growth rate of sellers in the past five years, with the scale of sellers increasing by 9 times; the Pearl River Delta has the scale of sellers increasing by 6 times, with concentrated industries, rich human resources and mature foreign trade foundation, giving birth to the largest group of sellers in the country at present; the sellers in the Haixi Economic Zone, represented by Fujian Province, are increasingly active, and the number of sellers is increasing The scale has increased five times, and it has obvious advantages in the competition of clothing, shoes, bags, furniture, outdoor lighting and other categories. At the same time, the types of sellers are more diversified. In the past five years, many well-known Internet native brands have emerged, such as Enquirer, Anke, and so on. Traditional manufacturing enterprises, traditional foreign trade merchants, and traditional well-known brands have also continuously joined the export cross-border e-commerce industry to explore new business growth opportunities, such as corworth. Trend 2: accelerating global distribution. The pace of international development of sellers is accelerating, and they are constantly seeking diversified business opportunities. According to the survey on Chinese sellers of Amazon global stores, nearly 60% of the sellers have operated more than two Amazon overseas sites at the same time, and 82% of the sellers plan to expand new sites on the existing basis. In the process of accelerating the global layout, sellers not only consider mature sites such as the United States and Europe, but also actively layout emerging sites such as the Middle East, Australia and Singapore. Trend 3: brand awareness is enhanced. With the export cross-border e-commerce industry gradually turning to "intensive cultivation", sellers pay more attention to the long-term development of business, and continue to invest in product development, brand registration and construction, brand protection, etc. In terms of product development, with the help of the first-hand feedback from Amazon's overseas site consumers, sellers can effectively improve product design, improve product quality, and guide new product R & D. many products popular with European and American consumers emerge, such as the popular down jacket of orolay. Trend 4: speed up product innovation. With the global consumer demand becoming more diversified and refined, Chinese sellers are constantly enriching the selection of products, and gradually shifting from standardized products to higher value, more yuan and more personalized products. Among them, sales of kitchen, household, clothing and other categories increased significantly. Trend 5: response capacity upgrading. In the past five years, the seller's ability to respond quickly to changes in the overseas environment and consumer demand has been continuously upgraded. It has been able to quickly identify the trend of global consumption and flexibly adjust the selection strategy, giving full play to the advantages of flexible supply chain. During the epidemic period, Chinese sellers timely provided global consumers with high-quality epidemic prevention materials and daily necessities. Disclaimer The information in this report is from public information. Tianjin KEYUN Logistics Group Limited by Share Ltd does not guarantee the accuracy and completeness of these information. The information, conclusions and opinions contained in the report are for reference only. Any investment decision made by investors based on this is irrelevant to the company.

it took 3 years for the two major ports in Europe to merge! At the same time as China celebrated the Chinese new year, on February 16, Antwerp and zebruhe, the two major European ports, announced the formal merger and renamed port of Antwerp Bruges. It is estimated that the integration process will take one year. According to the official information from the port of Antwerp, "the combined port of Antwerp Bruges will become the largest container terminal in Europe (by weight tons) and the 13th largest container port in the world (by TEU). At the same time, the new "Antwerp Bruges" port will be the largest automobile import and export terminal in Europe and one of the largest bulk cargo ports in the world. " The combined port will account for more than 15% of Europe's LNG transportation and will continue to be the most important chemical center in Europe. Antwerp Port said in a statement that the goal of the merger is to become the first port in the world to achieve harmonious development of economy, population and climate. 02 sea freight soared, affecting global exports. Due to tight shipping space, the cost of shipping from China to Europe has increased fourfold. Affected by this, the European household goods, toys and other industries retailers are tight inventory. According to freightos' survey of 900 small and medium-sized companies, 77% of them are facing tight supply. IHS Markit's survey shows that the delivery time of suppliers continues to extend, the highest since 1997. The supply shortage not only affects the retail end, but also has an impact on the manufacturing enterprises in the euro area. 03 The Spring Festival aggravates the bottleneck of shipping between China and Europe. According to an article published by Swedish "glance" on February 14, local time, due to the warm welcome of Chinese products by European people during the epidemic period, the shipping costs between China and Europe continue to increase. Not only that, but even the containers are almost exhausted. With the arrival of the Spring Festival, many ports in China are closed, and many goods are sold out The shipping companies have no containers available. It is understood that it takes at least 15000 francs to obtain a container, which is 10 times more expensive than the previous price. Due to the frequent shipping between China and Europe, many European shipping companies have also made huge profits, but now the Chinese Spring Festival has exacerbated the bottleneck of shipping between China and Europe. 04 Europe anxiously waiting for "made in China" According to the foreign trade data, the export volume of Chinese products last year was the largest in the world, which fully shows that the world's demand for "made in China" is rising with the epidemic situation. Furniture, toys and bicycles have become popular products. Due to the arrival of Chinese Spring Festival, many industries in Europe are in a certain confusion. China replaced the United States as the EU's largest trading partner last year. This means that trade between China and the EU will be closer in the future. It is precisely based on this reality that China and the EU signed the China EU investment agreement at the end of last year. In the future, both the EU and China will have more chips in trade negotiations with the United States. At present, the new crown pneumonia epidemic continues to spread around the world, and the epidemic situation in Europe is still very serious. Therefore, it will be difficult for Europe to resume normal industrial production in a short time, which makes the European people more urgent need "made in China". During the Spring Festival, they are also anxiously waiting for "made in China", so do you think the European ocean freight will continue to rise? Disclaimer The information in this report is from public information. Tianjin KEYUN Logistics Group Limited by Share Ltd does not guarantee the accuracy and completeness of these information. The information, conclusions and opinions contained in the report are for reference only. Any investment decision made by investors based on this is irrelevant to the company.

the concept of artificial intelligence and its potential benefits are no longer unfamiliar to many people, and with the growing strength of artificial intelligence, more and more enterprises begin to explore its benefits. Supply chain management, logistics and other industries continue to occupy a central position in the AI competition, which also makes the AI technology reach a new application level every year. According to the forecast of infoholic research, the compound annual growth rate of AI in logistics and supply chain market is 42.9% from 2017 to 2023, and it will reach US $6.5 billion by 2023. Recently, the data root laboratory, a Ukrainian data research company, published an article on the impact of artificial intelligence (AI) on the logistics industry, describing the current challenges faced by the logistics industry, as well as the innovation and application of start-ups and major participants in the development of this technology. Artificial intelligence plays a key role in the field of logistics In today's era of online shopping, delivery speed is particularly important. At the same time, the price of products has gradually become transparent. Consumers expect to get high-quality service with low cost, and enterprises also hope to get the most output with the least cost, which brings huge pressure on the profit margin of enterprises, thus promoting enterprises to the road of automation. At present, without the application of new technologies to deal with complex processes and manage a large amount of data, enterprises will not be able to keep pace with the times and it will be difficult to make sustained profits. This is also the reason why artificial intelligence brings high value and high return to users. Industry trend artificial intelligence in automation field The innovation of artificial intelligence in the field of logistics contributes to the automation of existing processes, which makes the transformation of automation an important issue for logistics directors. Automation is the first step to achieve large-scale optimization, so many companies have started the transformation of logistics automation to maintain competitiveness, because it can not only optimize existing processes, but also improve efficiency and productivity. Emerging logistics AI startups The data root lab lists 100 start-ups that have introduced AI into the global logistics industry, including Shenzhen based Hairou innovations. Established in 2016, Hairou innovation is committed to providing efficient, intelligent, flexible and customized warehouse automation solutions through robot technology and artificial intelligence algorithm, and has completed more than 70 projects worldwide. The company focuses on the R & D, design and scheme planning of container storage robot (ACR) system. Its haipack robot system has been applied in 3PL, footwear, e-commerce, electronics, power, manufacturing, medicine and other industries. The increasing demand for artificial intelligence in the field of logistics has promoted the rapid development of logistics AI start-ups such as Hai Rou innovation. The new crown epidemic has brought great pressure to the logistics industry, and also created unprecedented opportunities. For example, as more and more consumers turn from offline to online, the e-commerce industry gradually rises; the emergence of UAVs, autonomous vehicles and robots gradually replace the human work industry, minimizing the risk of labor shortage and helping to maintain social distance …… The application of artificial intelligence technology in the field of logistics is an irreversible trend. Enterprises need to understand and apply new technologies in time, keep pace with the times and maintain competitiveness.

in 2020, China's annual GDP will exceed 100 trillion yuan for the first time, an increase of 2.3% over the previous year in terms of comparable prices. A series of national economic operation data released by the National Bureau of statistics on January 18 has become an outstanding report card among the world's major economies. According to the preliminary calculation, the GDP of 2020 will be 101598.6 billion yuan, an increase of 2.3% over the previous year at comparable prices. From a quarterly perspective, the first quarter saw a year-on-year decrease of 6.8%, a growth of 3.2% in the second quarter, a growth of 4.9% in the third quarter, and a growth of 6.5% in the fourth quarter. By industry, the added value of the primary industry was 7775.4 billion yuan, an increase of 3.0% over the previous year; the added value of the secondary industry was 38425.5 billion yuan, an increase of 2.6%; the added value of the tertiary industry was 55397.7 billion yuan, an increase of 2.1%. According to the preliminary statistics of the customs, in 2020, China's cross-border e-commerce imports and exports will reach 1.69 trillion yuan, an increase of 31.1%. Among them, export was 1.12 trillion yuan, up 40.1%; import was 0.57 trillion yuan, up 16.5%. Through the customs cross-border e-commerce management platform, 2.45 billion import and export bills were checked and released, up 63.3% year on year. According to Li Kuiwen, spokesman of the General Administration of customs and director of the Department of statistics and analysis, in 2020, the General Administration of Customs innovated to carry out cross-border e-commerce enterprise to enterprise (B2B) export pilot projects, added "9710" and "9810" trade modes, and has carried out pilot projects in 22 customs directly under the General Administration of customs, including Beijing, to promote the innovative achievements of cross-border e-commerce supervision from B2C to B2B, with supporting customs facilitation measures. Li Kuiwen said that due to the impact of the epidemic, a large area of international flights will be suspended and reduced in 2020, and the traditional transport capacity will be drastically reduced. The General Administration of Customs has timely issued ten measures to support the development of China EU trains, and supported the use of China EU train capacity to carry out cross-border e-commerce, mail and other transport services. During the epidemic period, the customs supported the postal departments to open temporary entry-exit postal routes, with a total of 15 temporary exit ports and 13 temporary entry ports, and actively distributed inbound and outbound mail and cross-border e-commerce goods. In 2020, the growth of cross-border e-commerce will be rapid, with 2.45 billion import and export bills checked and released through the customs cross-border e-commerce management platform, a year-on-year increase of 63.3%. During the "double 11" period in 2020, a total of 52.27 million pieces of import and export lists were processed through the customs cross-border e-commerce import and export unified edition system, an increase of 25.5% over the previous year; the peak value of processing list reached 3407 pieces / second, an increase of 113.2%, and all indicators reached a new high.