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BAF surcharge
Price IFO 380 Low Sulphur prev. 5 weeks Close X
  Week 14 USD 773,00  
  Week 15 USD 765,75  
  Week 16 USD 752,90  
  Week 17 USD 743,10  
  Week 18 USD 737,10  
Price IFO 380 Low Sulphur prev. months Close X
  Oct 2011 USD 656,36   16.03-13.04 EUR 584,44
  Nov 2011 USD 674,14      
  16.11-15.12 USD 664,00      
  16.12-13.01 EUR 537,42      
  16.01-15.02 EUR 535,11      
  16.02-15.03 EUR 581,33      

Not only fuel prices, but also fluctuations in currency affect our cost structure.
Therefore, we will add a conversion of U.S. Dollar average fuel prices to an actual Euro value.

As from February 2012 we will apply fluctuations in the U.S. Dollar, Euro and Sterling rates of exchange.

Average last week: USD 703,50 (Week 19) (Previous weeks)
Average last period: EUR 568,90* (16.04.12-15.05.12) (Previous months)
  *ROE USD/EUR: 1,2843 on 15.05.2012  

The below table indicates the level of BAF that will be applied based on the average price of IFO 380 LS Rotterdam in the preceding month.

Please note: The table shows the fuel prices in Euros converted at the rate of exchange that was applicable when the surcharge was first introduced on March 1st 2011: 1,3825.

Fuel Cost in €   BAF in €*
From To   RTM <-> PUR/IPS/KGH ZEE/RAD <-> DUB/CORK RTM <-> DUB/CORK
363 369   1,24 2,56 2,86
370 376   2,20 4,54 5,09
377 383   3,16 6,53 7,32
384 391   4,26 8,80 9,86
392 398   5,22 10,79 12,09
399 405   6,19 12,78 14,32
406 412   7,15 14,77 16,54
413 420   8,25 17,04 19,09
421 427   9,21 19,03 21,31
427 434   10,17 21,02 23,54
435 441   11,13 23,00 25,77
442 448   12,10 24,99 27,99
449 456   13,19 27,26 30,54
457 463   14,16 29,25 32,77
464 470   15,12 31,24 34,99
471 477   16,08 33,23 37,22
478 485   17,18 35,50 39,76
486 492   18,14 37,49 41,99
493 499   19,10 39,48 44,22
500 506   20,07 41,46 46,44
507 514   21,17 43,74 48,99
515 521   22,13 45,72 51,22
522 528   23,09 47,71 53,44
529 535   24,05 49,70 55,67
536 542   25,01 51,69 57,90
543 550   26,11 53,96 60,44
551 557   27,08 55,95 62,67
558 564   28,04 57,94 64,89
565 571   29,00 59,92 67,12
572 579   30,10 62,20 69,67
580 586   31,06 64,18 71,89
 

* For customers paying seafreight in Sterling / Swedish Krona the prevailing rate of exchange (ROE) from the Financial Times will be used to calculate the Sterling / Swedisch Krona equivalent.

ROE Euro/Gbp: 0,8001 (on 15.05.2012)
ROE Euro/Sek: 9,0437 (on 15.05.2012)