COSCO Haineng announced that its wholly-owned subsidiary Huanyu previously planned to launch a long-term leasing and finance cooperation project for 16 new VLCC ships. On November 11, 2026, Universal signed a light lease agreement with COSCO Haifa's wholly-owned subsidiary Oriental Fuli to rent 16 VLCCs using an operating sole lease. The lease period is calculated as 240 months ± 90 days from the date of delivery, with an average fixed daily rent of RMB 116,500 per ship. Eight of these ships use the “Guaranteed+Share” rent model, with a total annual rent of no more than RMB 320 million. This transaction constitutes a related transaction. It has been reviewed and approved by the board of directors, and approval by the shareholders' meeting is required before it can take effect.

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