Date: Monday, August 1, 2011 Re:  September BAF Unchanged from all origins; US Intermodal Fuel Surcharge 35.5% for September Monthly BAF and US Intermodal Fuel Surcharge Levels for September 2011 The BAF adjustment levels on USA imports are as follows: Europe, South America, South Africa to USA Month Adjustment 20' 40' Jul 2011 BAF adjustment, increase of $18 per TEU $403 $806 Aug 2011 BAF adjustment, increase of $7 per TEU $410 $820 Sep 2011 BAF adjustment - no change $410 $820 Europe, South Africa and South America Bunker Adjustment Factor (BAF) is calculated on rolling three-month averages of the IFO 380 Rotterdam Indexes as monitored by BunkerWorld. Any fluctuation from the previous three month average (increase/decrease) will be applied the following month after 30 day notice. Australia, New Zealand to USA Quarter Adjustment 20' 40' Apr-Jun 2011 BAF adjustment, increase of $115 per TEU $645 $1,290 Jul-Sep 2011 BAF adjustment, increase $120 per TEU $765 $1,530 Oceania BAF is calculated quarterly based on the Australia New Zealand United States Discussion Agreement and tracked by Shipping Australia Limited. Any fluctuation from the previous three month average (increase/decrease) will be applied the following month after 30 day notice. NEW! US Intermodal Fuel Surcharge on Import/Export Containers handled by JF Hillebrand Quarter Adjustment Percentage Jul 2011 Based on US National Fuel Cost Average for May 2011 37.5% Aug 2011 Based on US National Fuel Cost Average for June 2011 36% Sep 2011 Based on US National Fuel Cost Average for July 2011 35.5% The US Intermodal Fuel Surcharge applies to all intermodal moves in ocean containers, import, export, and export consolidation that are coordinated by JF Hillebrand USA and not directly with the steamship line carrier. The fuel level is based on the previous month's US national fuel cost average and will be applied the following month after 30 day notice. The fuel application date is the Actual Time of Departure (ATD) from the origin port of loading.