WCNA - Increase to Bunker Adjustment Fee (BAF)

NOTICE TO TRADE

United States and Canada to Australia and New Zealand

Increase to Bunker Adjustment Fee (BAF)

Dear Valued Customer,

Please be advised that the Bunker Adjustment Factor (BAF) applied to all exports from the United

States and Canada to Australia and New Zealand will increase from 28% to 30% effective 5th March

2012.

This increase is necessitated due to the steadily increasing bunker price over recent months, and the

North American ECA regulations regarding use of low sulfur fuel.

Tariff cargo as well as existing contracts (except those with an agreed BAF calculation) will be subject

to this increase.

Please do not hesitate to contact your local agency representative should you have any questions.

Yours faithfully,
Trade Management Team