Date: Friday, July 31, 2009 Re:  BAF Adjustment for Sept 2009 Europe, South Africa and South America Please be advised of the following JF Hillebrand USA BAF levels for September 2009. For shipments from: Europe (North Continent and the Mediterrean), and South Africa - there is no change in the BAF adjustment for September. The BAF adjustment remains at $106 per TEU. Aug 2009 - BAF increase of $47 per TEU, bringing adjustment to $106 per TEU July 2009 - BAF increase of $59 per TEU June 2009 - no BAF adjustment The BAF is based on the IFO 380 Rotterdam monthly average index up/down 15%. For shipments from: South America - there is no change in the BAF adjustment for September. The BAF adjustment remains at $113 per TEU. August 2009 - BAF increase of $76, bringing adjustment to $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 monthly average index up/down 15%. Daily monitoring of the IFO 380 Rotterdam and IFO 380 Houston can be found at bunkerworld.com