1st March 2022

Dear client,

BAF application for April 2022:

Please be advised that as a result of the review of fuel prices during the month of February 2022, there will be an increase to the BAF recovery level for the month of April 2022. The applicable BAF will be as follows:

The BAF level will apply to all bills of lading dated from 1st April 2022 until further notice.

Yours faithfully,

Trade Management