Investment Rating - The report does not explicitly provide an overall investment rating for the industry Core Views - The express delivery sector is positively influenced by regulatory measures against "involution" competition, with a focus on stabilizing prices and improving service quality, which is expected to enhance profitability for leading companies like Zhongtong Express and Jitu Express [2] - The logistics sector is recommended to focus on smart logistics, with companies like Haichen Co., Ltd. being highlighted due to the anticipated recovery in chemical logistics driven by rising chemical product prices [3] - The aviation sector shows signs of recovery with increased flight volumes and potential for improved profitability as supply constraints ease, recommending investments in major airlines such as Air China and China Southern Airlines [4] - The shipping sector is experiencing high freight rates due to geopolitical tensions affecting oil transport routes, with a focus on maintaining high rates despite fluctuations in container shipping indices [5] - The road and rail sectors are showing stable growth, with opportunities for investment in highway operators due to attractive dividend yields compared to government bond rates [6] Summary by Sections Transportation Market Review - The transportation index fell by 0.7% last week, while the Shanghai and Shenzhen 300 index decreased by 1.1%, indicating a slight outperformance of the transportation sector [1][13] Industry Fundamentals Tracking Shipping Ports - The shipping market is facing challenges due to geopolitical tensions, with the CCFI index at 1044.57 points, down 4.0% week-on-week and down 20.8% year-on-year [21] - Oil transport indices are high, with the BDTI index at 2868.4 points, up 51.4% week-on-week and up 225.4% year-on-year, indicating strong demand and pricing power in oil shipping [40] Aviation Airports - The average daily flights increased by 17.86% year-on-year, with domestic flights up 19.64%, suggesting a recovery in air travel demand [4] - Brent crude oil prices rose to $92.69 per barrel, impacting operational costs for airlines, but potential easing of geopolitical tensions may improve margins [67] Road and Rail - The highway sector showed a significant increase in truck traffic, with 32.72 million vehicles recorded, up 229.68% week-on-week, indicating robust demand [84] - Rail freight volumes are stabilizing, with a slight increase in passenger turnover, suggesting a positive trend in rail transport [82] Express Logistics - The express delivery sector saw a collection volume of approximately 4.231 billion packages, up 12.6% year-on-year, indicating strong growth potential [2]

Core Viewpoint - Pacific Shipping reported a decline in 2025 performance, with revenue of $2.08 billion, down 19.4% year-on-year, and net profit attributable to shareholders of $58.17 million, down 55.8% year-on-year, primarily due to lower average freight rates than expected [1] Group 1: Financial Performance - The company's net profit fell short of expectations by $7.77 million, mainly due to weak global bulk market performance and declining freight rates [1] - The Baltic Dry Index (BDI) and Baltic Handysize Index (BHSI) experienced an average decline of 4.2% and 5.9% year-on-year in 2025, respectively, due to weak global bulk demand in the first half of the year [2] - In the second half of 2025, the BDI and BHSI indices rebounded significantly, with year-on-year increases of 23.4% and 9.2%, respectively, driven by rising commodity prices and geopolitical disturbances [2] Group 2: Dividend and Share Buyback - The company announced a year-end dividend of HKD 0.06 per share, maintaining a 100% payout ratio for the year [1] - Starting in 2026, the company will modify its dividend policy to 50% of annual net profit (excluding vessel disposal gains), with a potential increase to 100% if the year-end balance sheet shows net cash [1] - A new share buyback plan was announced, with a maximum budget of $40 million from March 4, 2026, to December 31, 2026, representing about 1.7% of the current total issued share capital [1] Group 3: Market Outlook - Concerns over global energy and trade supply chain disruptions due to the escalating geopolitical situation in the Middle East may lead to a significant increase in dry bulk freight rates, boosting the company's profitability in 2026 [1][2] - The average BDI index has increased by 107.7% year-to-date, indicating a strong recovery in freight rates [2] - The company has raised its net profit forecast for 2026 by 36% to $150 million, reflecting an adjustment in dry bulk freight rate assumptions [3]

Core Viewpoint - The article discusses the implications of the recent military actions by the US and Israel against Iran, leading to Iran's blockade of the Strait of Hormuz and the subsequent impact on global shipping and trade, particularly focusing on China's unique position in this context [2][12]. Group 1: Military Actions and Shipping Disruptions - Following the US and Israel's attacks on Iran, the Iranian Revolutionary Guard announced a blockade of the Strait of Hormuz, prohibiting all vessels from passing [2]. - From March 1 to 5, there were reports of strong electronic interference in the Strait of Hormuz and the Persian Gulf, causing GPS and AIS navigation signals to become unstable [3]. - Multiple vessels were attacked, prompting global shipping companies to implement emergency measures, with some ships anchoring and others rerouting, turning the previously busy Strait of Hormuz into a "no-go zone" [7]. Group 2: China's Special Access - Amidst the shipping crisis, a Chinese-owned cargo ship, "Iron Maiden," successfully traversed the Strait of Hormuz without interference, indicating a potential preferential treatment for Chinese vessels [11]. - Iran's Revolutionary Guard stated that the Strait would be open to friendly nations, specifically allowing only Chinese ships to pass, while closing it to the US, Israel, and their allies [13][15]. Group 3: Trade Overview with Gulf Countries - In 2025, China's total trade with the eight Gulf countries (Saudi Arabia, UAE, Oman, Qatar, Bahrain, Kuwait, Iraq, and Iran) is projected to reach 2.54 trillion yuan, accounting for 5.58% of China's total foreign trade [16]. - China exported 1.21 trillion yuan worth of goods to these countries, representing 4.49% of its total exports, while imports amounted to 1.33 trillion yuan, making up 7.17% of total imports [17]. Group 4: Trade Deficits and Surpluses - China has a trade deficit of 114.1 billion yuan with the Gulf countries, with Saudi Arabia and the UAE being the top trading partners, each accounting for approximately 30.5% of the total trade [18]. - The trade dynamics show a surplus with Iran (279 million yuan) and Bahrain (97 million yuan), while significant deficits exist with Iraq (1.2 billion yuan) and Oman (1.55 billion yuan) [24][25]. Group 5: Major Export Products to Gulf Countries - The primary export category to the Gulf countries is machinery and electronics, valued at 436.8 billion yuan, which constitutes 36.1% of total exports to the region [27]. - Other significant exports include transportation equipment (186.8 billion yuan, 15.4%), metals and products (157.5 billion yuan, 13.0%), and textiles and apparel (103.1 billion yuan, 8.5%) [31]. Group 6: Major Import Products from Gulf Countries - Energy minerals dominate imports from the Gulf, totaling 11.45 trillion yuan, which is 86.4% of total imports from the region [32]. - Key imports include crude oil (9.4 trillion yuan, 70.9%), refined oil (421 billion yuan, 3.2%), and liquefied natural gas (789 billion yuan, 5.95%) [33][36]. Group 7: Future Implications - The ongoing geopolitical tensions and Iran's selective access policy for shipping could significantly impact global trade routes and China's energy security, emphasizing the importance of the Strait of Hormuz in international trade [15][12].

Group 1 - The "14th Five-Year Plan" aims to foster emerging industries such as marine biomedicine and enhance key technologies in integrated circuits, telecommunications, and internet sectors [3][4] - The Ministry of Civil Affairs plans to establish a three-tier elderly care service network by the end of the "14th Five-Year Plan" [3] - The Ministry of Human Resources and Social Security is developing an employment plan to enhance job creation and improve employment policies [3] Group 2 - China's foreign exchange reserves have increased for seven consecutive months, reaching $34,278 billion, with a rise of $287 billion in February [4][5] - The gold reserves have also grown for 16 months, totaling 7,422 million ounces, with an increase of 3 million ounces month-on-month [5] Group 3 - The People's Bank of China will implement a moderately loose monetary policy to maintain favorable social financing conditions [6] - The central bank is focusing on regulating non-standard practices in accounts receivable management [6] Group 4 - The Shanghai Stock Exchange supports financing and mergers for technology innovation and transformation enterprises, particularly those achieving breakthroughs in key technologies [7] - The Shenzhen Stock Exchange is preparing for reforms in the ChiNext board to enhance the capital market's service to the real economy [7] Group 5 - The "14th Five-Year Plan" includes major projects like "Yaxia Hydropower" and renewable energy bases, aiming for a 25% share of non-fossil energy consumption by 2030 [8] - The Ministry of Human Resources and Social Security is exploring the role of artificial intelligence in job creation and traditional job enhancement [8] - Domestic tourism during the recent Spring Festival reached 596 million trips, generating over 800 billion yuan, marking a historical high [8]

Investment Rating - The report maintains a "Positive" outlook on the shipping industry, particularly highlighting companies such as China Merchants Energy, COSCO Shipping Energy, and ST Songfa as key recommendations [3][5]. Core Insights - The report emphasizes that the theoretical upper limit for tanker freight rates is influenced by geopolitical risks and supply chain disruptions, with current freight rates reflecting a premium due to risk assessments rather than actual transaction prices [5]. - The report notes a significant increase in VLCC average freight rates, which rose by 89% week-on-week, reaching $390,970 per day, driven by geopolitical tensions in the Middle East [5]. - The report highlights the resilience of the railway and highway freight volumes, with a notable increase in national railway freight volume by 9.77% and highway truck traffic by 229.69% [5]. Summary by Sections Shipping - The report indicates that the theoretical freight rate for oil tankers is approximately $93 per barrel, translating to a TCE of about $3.66 million per day, while the lower limit for shipowners is estimated between $40 to $87.5 per barrel [5]. - The report observes that the average freight rate for VLCCs has surged, particularly on the Middle East to China route, which jumped 108% to $480,557 per day [5]. Dry Bulk - The report states that the geopolitical situation in the Middle East has limited direct impacts on the dry bulk market, although high fuel prices are exerting pressure on TCE [5]. - The BDI recorded a decrease of 6.1% week-on-week, with Capesize rates dropping by 13.9% to $23,858 per day [5]. Air Transport - The report highlights that the global aircraft manufacturing chain is facing unprecedented challenges, with an aging fleet and supply constraints expected to continue [5]. - It suggests that airlines are poised for significant profit improvements as demand for international travel increases [5]. Express Delivery - The report anticipates that policies ensuring end-user rights will stabilize delivery fees, allowing for gradual recovery in pricing and profitability for leading companies in the sector [5]. - Companies such as ZTO Express and YTO Express are noted for their expanding market positions and profitability potential [5]. Rail and Road - The report indicates that freight volumes in both rail and highway sectors are showing resilience, with significant increases reported in recent weeks [5]. - It suggests that traditional high-dividend investment themes and potential market management catalysts are worth monitoring in the highway sector [5].

1. Report Industry Investment Rating No information provided in the content. 2. Core View of the Report - In the first week of March, after the Lantern Festival, the resumption of work accelerated further. However, the low - temperature and snowy weather in the north affected the start - up and resumption of work. The labor attendance rate was still strong year - on - year, indicating that major project investments in March might be building up momentum [3][32]. - In terms of inflation, food prices continued to decline after the Spring Festival. In terms of exports, due to geopolitical factors, fuel prices rose significantly, shipping capacity was affected, and container shipping prices generally increased significantly. In terms of investment, the social inventory of rebar continued to accumulate, the price weakened slightly, the downstream procurement demand was released orderly, and the physical work volume indicators had not yet stabilized significantly. In the real estate sector, the transactions of new and second - hand houses continued to rise, but the year - on - year increase in the lunar calendar decreased [3][32]. - For the bond market, the peak season starts in March. Due to the concentrated impact of work resumption this month and the possible sprint effect of the economy at the end of the quarter, an improvement in high - frequency data can be expected. This week, under the influence of the escalation of the US - Iran situation, energy prices such as crude oil rose significantly, intensifying market concerns about inflation. The cost of export container shipping prices also began to rise, and attention should be paid to the short - term suppression and fluctuations of shipping price changes on export demand. Domestically, the economic targets and policy combinations of the Two Sessions basically met expectations, the target growth rate was adjusted to a more neutral and reasonable range, and the probability of marginal stimulus decreased relatively. In addition, the PMI in February announced this week further declined due to the Spring Festival holiday, but it should be noted that in years when the Spring Festival falls in the middle or late February, the PMI in March often rebounds significantly, and the price sub - item last month was not weak. Short - term attention should continue to be paid to the evolution of inflation expectations [3][32]. 3. Summary According to the Directory (1) Inflation - related: Food prices are accelerating downward - The average wholesale price of pork in the country decreased by 3.9% week - on - week, and the vegetable price decreased by 4.1% week - on - week. After the Spring Festival, food prices are accelerating downward. The 200 - index of agricultural product wholesale prices and the wholesale price index of basket products decreased by 2.2% and 2.5% respectively week - on - week [8]. (2) Import and export - related: Geopolitical situation escalates, and freight rates are accelerating upward - The comprehensive container shipping index accelerated upward due to geopolitical factors. This week, the CCFI index increased by 0.9% week - on - week, and the SCFI increased by 11.7% week - on - week, showing an accelerating upward trend. The export container shipping market was affected by the sharp escalation of the geopolitical situation, and the freight rates of relevant routes fluctuated more severely, with the comprehensive index rising. Among them, the freight rate from Shanghai Port to the basic ports in the Mediterranean increased by 2.4% week - on - week, and the freight rates to the West and East coasts of the United States increased by 4.5% and 1.0% respectively [9]. - In terms of port transportation volume, from February 21st to March 1st, the container throughput and cargo throughput of ports increased by 6.4% and 25.2% respectively week - on - week, and the year - on - year increase for a single week was 6.3% and - 6.4% respectively. Overall, the resumption of work this year is relatively fast, and the year - on - year performance is still not weak under the influence of the Spring Festival misalignment [9]. - The BDI and CDFI indices accelerated upward. Affected by the US - Iran conflict, international fuel prices rose significantly, the ship operating cost increased, driving the daily rent and freight rates in the international dry bulk shipping market to rise significantly across the board. The BDI and CDFI indices increased by 1.8% and 8.1% respectively week - on - week [9]. (3) Industry - related: The resumption of work is accelerating further - Coal prices continued to rise. The price of thermal coal (Q5500) at Qinhuangdao Port increased by 1.9% week - on - week, with the same increase as the previous week. The low - temperature and snowy weather in the north led to a temporary rebound in the residential heating electricity load. After the Lantern Festival, the resumption of work and production in various places advanced, and the downstream replenishment and industrial electricity demand increased, supporting the continued rise of coal prices [15]. - The price of rebar weakened marginally. The spot price of rebar (HRB400 20mm) decreased by 0.1% week - on - week, and the social inventory of rebar increased by 12.4% week - on - week, continuing to accumulate at a relatively fast pace. This week, the resumption of work at construction sites accelerated, and terminal procurement gradually recovered [15]. - The asphalt production rate rebounded slightly. This week, the asphalt plant production rate increased by 1.9 percentage points week - on - week to 23.3%, but it was still at a seasonal low [15]. - The copper price decreased slightly. This week, the average price of copper in the Yangtze River Non - ferrous Metals market decreased by 0.4% week - on - week. The continued escalation of the US - Iran conflict led to a risk of energy supply disruption, suppressing market risk appetite and increasing risk - aversion sentiment, causing the copper price to decline week - on - week [18]. - The glass price remained stable, and downstream demand still needed to be repaired. This week, the glass market price was basically stable, the production and sales performance was average, the inventory in various places was still accumulating, the downstream procurement demand had not fully recovered, and the upward momentum of the spot price was limited. The South China glass futures price decreased by 0.3% week - on - week, also affected by risk sentiment [18]. (4) Investment - related: Real estate transactions continue to heat up - The cement price continued to decline. This week, the cement price index decreased by 0.2% compared with before the Spring Festival, continuing the downward trend. As of March 4th (the 16th day of the first lunar month), the resumption rate of construction sites across the country was 23.5%, the same as the year - on - year in the lunar calendar, and the labor attendance rate was 29.7%, 2.2 percentage points higher than the year - on - year in the lunar calendar. Among them, the year - on - year in the lunar calendar for real estate and non - real estate projects was 1.5 percentage points higher and 0.3 percentage points lower respectively. Overall, the resumption of work this week did not show a significant year - on - year improvement, which might be related to the suspension of some projects due to the snowy weather in the north. However, the labor attendance rate continued to improve, mainly supported by funds for projects such as guaranteed housing delivery, water conservancy, and high - speed railways [19][22]. - The transactions of new houses continued to recover seasonally, but the year - on - year increase in the lunar calendar narrowed. This week (as of Friday), the transaction area of new houses in 30 cities increased by 65.6% week - on - week. Aligned with the Spring Festival, as of March 6th, the transaction area of new houses in 30 cities (7 - day rolling sum) was 1.2896 million square meters, a year - on - year increase of 11.1%, and the year - on - year increase narrowed [27]. - The transactions of second - hand houses increased year - on - year at a relatively fast pace. This week (as of Friday), the transaction area of second - hand houses in 17 cities increased by 82% year - on - year. Aligned with the Spring Festival, as of March 6th, the transaction area of second - hand houses (7 - day rolling sum) was 115,000 square meters, a year - on - year increase of 23.3%, generally remaining strong [27]. (5) Consumption: The US - Iran conflict escalates, and oil prices are accelerating upward - The subway passenger volume in 25 cities accelerated its recovery. From last Saturday to this Friday, the average daily subway passenger volume in 25 cities was 3.163 million person - times, a week - on - week increase of 19.2%. The resumption of work accelerated further around the Lantern Festival. According to the Baidu Migration Scale Index, as of March 6th, the year - on - year travel decreased by 1.6%. The misalignment of the resumption of work rhythm after the holiday led to a high base, and the year - on - year performance began to weaken [30]. - Affected by the geopolitical situation, international oil prices continued to rise. As of March 6th, the prices of Brent crude oil and WTI crude oil increased by 27.9% and 35.6% respectively week - on - week compared with last Friday, showing an accelerating upward trend. The continued escalation of the US - Iran situation led to a decrease in the passage capacity of the Strait of Hormuz, increasing the uncertainty of global energy supply and pushing up oil prices to strengthen rapidly [30].

Core Viewpoint - The ongoing geopolitical tensions in the Middle East, particularly around the Strait of Hormuz, are significantly impacting shipping routes and global oil supply, leading to increased oil prices and potential disruptions in trade [1][6]. Group 1: Shipping and Trade Impact - The Iranian Revolutionary Guard seized the commercial oil tanker "PRIMA" for allegedly ignoring warnings, highlighting the heightened risks in the Strait of Hormuz [1]. - Major shipping companies, including Maersk and Hapag-Lloyd, have suspended multiple Middle Eastern routes due to escalating regional conflicts, which could disrupt trade flows between Asia and Europe [2][1]. - The suspension of shipping services is expected to lead to increased freight rates and delays in supply chains, further exacerbating inflationary pressures in downstream manufacturing and consumer goods sectors [2]. Group 2: Oil Market Reaction - On March 6, international oil prices surged, with West Texas Intermediate (WTI) crude oil rising by 12.67% to $91.27 per barrel, reflecting market reactions to the geopolitical tensions [4]. - The number of vessels passing through the Strait of Hormuz has drastically decreased, with reports indicating only two confirmed commercial passages in the last 24 hours, signaling a severe disruption in oil supply [6]. - Qatar has halted liquefied natural gas production, and it may take weeks to months to restore normal supply levels, indicating a broader risk of energy production halts across Gulf nations [6][7].

Core Viewpoint - Iran has announced the closure of its stock market until further notice due to escalating tensions in the Middle East, particularly following recent airstrikes by Israel on Iranian military targets [2][3]. Group 1: Stock Market Closure - Iran's economy minister announced the stock market closure on March 7, with trading previously suspended since March 1 [3]. - The Iranian Securities and Exchange Organization indicated that only stock market trading is affected, with details on other financial markets to be provided later [3]. - Kuwait's stock exchange also suspended trading on March 1 but resumed operations shortly after, while the UAE capital markets reopened with adjusted trading limits [3]. Group 2: Regional Market Volatility - Middle Eastern stock markets have experienced significant volatility, with the UAE DFM index dropping 4.71% on March 1 and a cumulative decline of 9.01% for the week [3]. - The FTSE Abu Dhabi index saw a cumulative drop of 5.27% for the week, while Saudi stocks recorded a slight increase of 0.63% [3]. - In contrast, Israel's Tel Aviv TA35 index rose by 5.53% for the week, reaching a historical high [3]. Group 3: Military Actions and Impacts - Israel's military conducted airstrikes involving over 80 aircraft targeting various military facilities in Iran, including missile storage sites [5][6]. - The Iranian Red Crescent reported that 6,668 civilian facilities have been attacked since the onset of hostilities, including medical centers and schools [4]. - The Iranian military has vowed to continue retaliatory actions against U.S. and Israeli forces, indicating a prolonged conflict [6]. Group 4: Shipping and Trade Implications - Mediterranean Shipping Company (MSC) announced an emergency fuel surcharge for goods transported from the Mediterranean and Black Seas to the Indian subcontinent, Red Sea, and East Africa, effective March 16 [7]. - Shipping costs have surged significantly, with container rates to the Red Sea rising from approximately $3,000 to $10,000 [7]. - Some shipping companies have suspended contracts or rerouted shipments due to the ongoing geopolitical tensions [7].

Core Viewpoint - The escalation of the Middle East situation has led to a dramatic surge in global LNG shipping rates, with day rates for LNG carriers skyrocketing to $300,000, a staggering increase of 650% compared to the previous week [1][2]. Group 1: LNG Shipping Rates - LNG shipping rates have surged due to supply disruptions in the Middle East, with the day rate for LNG carriers from the U.S. Gulf to Europe reaching approximately $300,000, up about $260,000 from the previous week [2]. - The day rate for LNG carriers from the U.S. Gulf to Asia has also increased from $42,000 to $300,000, while rates from Australia to Asia have risen to about $255,000 per day [2]. - Fearnleys noted that charterers are willing to pay rates up to ten times higher than last week to secure immediate shipping capacity, indicating a strong demand for long-term charters as well [2]. Group 2: Impact of Middle East Situation - The conflict involving Iran has disrupted global LNG trade, with Qatar halting LNG production and declaring force majeure to some buyers [3][4]. - The shipping of tankers through the Strait of Hormuz has nearly come to a standstill due to safety concerns, significantly affecting the LNG supply chain [3][4]. - Qatar and the UAE together account for about 20% of global LNG supply, and the current supply disruptions are having a major impact on the global natural gas market [4]. Group 3: Market Dynamics and Pricing - The supply disruptions are reshaping the pricing dynamics between Asia and Europe, with spot LNG prices in Asia reaching $25.40 per million British thermal units before slightly retreating to $23.80, still double the levels prior to the conflict escalation [4]. - The tightening of the global LNG market has led traders to compete for both cargoes and vessels, reflecting a significant shift in market conditions [4]. - Recent assessments indicate that the number of vessels passing through the Strait of Hormuz has dropped to single digits, with only two confirmed commercial passages in the last 24 hours [4]. Group 4: Shipping Industry Response - In response to the shortage of LNG carriers and soaring day rates, Qatar has released two LNG carriers for lease, currently located near the West African coast [5]. - Shipping giant Maersk has suspended two container shipping services due to the escalating conflict, further indicating disruptions in global supply chains [5]. - Goldman Sachs expressed skepticism about the feasibility of providing naval escorts for oil and gas transport vessels through the Strait of Hormuz, raising concerns about the effectiveness of such measures against drone attacks [5].

Core Viewpoint - The escalating situation in the Middle East has led to a dramatic surge in global LNG shipping rates, with daily rental fees for LNG carriers skyrocketing by 650% to $300,000 [2][3]. Group 1: LNG Shipping Rates - LNG shipping rates have surged significantly due to supply disruptions in the Middle East, with the rental fee for LNG carriers from the U.S. Gulf to Europe reaching approximately $300,000 per day, an increase of about $260,000 from the previous week [3]. - The rental fee for LNG carriers from the U.S. Gulf to Asia has also risen from $42,000 to $300,000 per day, while rates from Australia to Asia have increased to about $255,000 per day [3]. - Fearnleys noted that charterers are willing to pay rates up to ten times higher than last week to secure immediate shipping capacity, indicating a strong demand for long-term charters as well [3]. Group 2: Impact of Middle East Situation - The conflict involving Iran has disrupted global LNG trade, with Qatar halting LNG production and declaring force majeure to some buyers [4][5]. - Qatar and the UAE together account for about 20% of global LNG supply, and the supply disruptions are having a significant immediate impact on the global natural gas market [5]. - The shipping disruptions have led to a shift in LNG pricing dynamics between Asia and Europe, with spot LNG prices in Asia reaching $25.40 per million British thermal units before slightly retreating to $23.80, still double the levels prior to the conflict escalation [5]. Group 3: Shipping and Supply Chain Challenges - The number of vessels passing through the Strait of Hormuz has drastically decreased, with reports indicating only a few commercial passages in recent days [5]. - In response to the shipping crisis, Qatar has released two LNG carriers for lease, currently located near the West African coast [6]. - Maersk has suspended two container shipping services due to safety concerns in the Middle East, highlighting the broader impact of the conflict on global supply chains [6].