Date: Thursday July 2, 2009 Re:  BAF Adjustment for August 2009, Europe and South America For shipments from: Europe North Continent and the Mediterrean  - the BAF adjustment will increase by $47/TEU (East and West Coast) for August 2009.  August 2009 - Europe (N. Continent & Med) BAF adjustment: $106 per TEU July 2009 - BAF adjustment $59 per TEU June 2009 - no BAF adjustment The BAF is based on the IFO 380 Rotterdam average index up/down 15%.  For shipments from: South America - the BAF adjustment will increase by $76/TEU (East and West Coast) for August 2009.   August 2009 - South America BAF adjustment: $113 per TEU July 2009 - no change, $37 per TEU June 2009 - no change, $37 per TEU The South America BAF is based on the IFO 380 Houston average index up/down 15%.  Daily monitoring of the IFO 380 Rotterdam and IFO 380 Houston can be found at bunkerworld.com