Maersk has signed the Land Grant Contract with the administrative committee of Lin-gang new area of the Shanghai Free Trade Zone in late December 2022. This marks the official landing of Maersk’s first green and smart flagship logistics center in China with low or very low greenhouse gas emissions. With a total investment of 174 million US dollars, the project is expected to start operation in Q3,2024. Covering an area of approximately 113,000 square meters, the Lin-gang flagship logistics centre is designed to have a warehousing storage of 150,000 sqm, comprising four ramped 3-storey high standard warehouses and one 24-metre-high warehouse with automated storage and retrieval system (AS/RS). It wssill provide customers with a wide range of integrated logistics services, including international export consolidation, regional and global order fulfillment and distribution, cross border e-commerce and other value-added logistics services. Maersk is continuously enhancing its logistics capabilities to offer integrated end-to-end solutions to customers worldwide. Shanghai plays a critical role for Maersk global network. With Lin-gang’s proximity to Yangshan port and its favorable free trade policies, our flagship logistics centre will provide agile and sustainable solutions, connecting and simplifying our customers’ supply chains. We will continue to invest in China, contributing to Shanghai's position as a global leading shipping and logistics centre, and the resilience of global supply chains.