1st September 2022

Dear client,

BAF application for October 2022:

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

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

Yours faithfully,

Trade Management