Date: Wednesday, March 2, 2011 Re:  April BAF Increase from Europe, South Africa, South America and Oceania BAF Increase from Europe, South Africa, South America and Oceania for April 2011 The BAF adjustment levels on imports are as follows: Europe, South Africa to USA Based on IFO 380 Rotterdam rolling 3-month average Month Adjustment 20' 40' Feb 2011 No change, remains at $231 per TEU $231 $462 Mar 2011 BAF adjustment, increase of $36 per TEU $267 $534 Apr 2011 BAF adjustment, increase of $31 per TEU $298 $596 South America to USA Based on IFO 380 Houston rolling 3-month average Month Adjustment 20' 40' Feb 2011 BAF adjustment, increase of $76 per TEU $253 $354 Mar 2011 BAF adjustment, increase of $18 per TEU $271 $542 Apr 2011 BAF adjustment, increase of $34 per TEU $305 $610 Australia, New Zealand to USA Based quarterly BAF average Quarter Adjustment 20' 40' Jan-Mar 2011 No change, remains at $530 per TEU $530 $1,060 Apr-Jun 2011 BAF adjustment, increase $115 per TEU $645 $1,290 Europe/South Africa and South America Bunker Adjustment Factor (BAF) is based on rolling three-month averages of the IFO 380 Rotterdam and Houston Fuel Indexes respectively. Due to rising fuel prices and fluctuations of the IFO 380 indexes, adjusting BAF when the average meets or exceeds +/- 15% is no longer sustainable. A new formula will be developed and will be distributed to NASA members in the next 30 days for implementation on July 1, 2011.