The Hindu Business Line : Member lines announce revision in currency, bunker adjustment rates

MEMBER lines in the India, Pakistan, Bangladesh and Ceylon Conference (IPBCC) have announced a revision in the currency adjustment factor (CAF) and bunker adjustment factor (BAF) rates.

The CAF, a charge expressed as a percentage of a base rate and applied to compensate ocean carriers of currency fluctuations, of +5.15 per cent will be effective from January 1 to 31. The next review will be done this month, and its results will be effective from February 1, according to a trade notice issued by the Karmahom Conference, Mumbai.

The IPBCC's 18-member lines also advised their customers that as a result of the reduced bunker costs available to carriers operating in the region, the BAF, which is used to compensate steamship lines for fluctuating fuel costs, surcharge will be reduced with effect from January 1.

For an FCL (full container load) cargo, the rate will be $165 a TEU (twenty foot equivalent unit) and for an LCL (less than container load), it will be 16.5 W/M (weight measure viz 1,000 kilogramme).

The member-lines will continue to monitor bunker costs and the level of BAF will be kept under regular review, the notice said.

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