Date: Monday, October 3, 2011 Re:  Monthly BAF and US Intermodal Fuel Surcharge Levels for November 2011 Monthly BAF and US Intermodal Fuel Surcharge Levels for November 2011 The BAF adjustment levels on USA imports are as follows: Europe, South America, South Africa to USA Month Adjustment 20' 40' Sep 2011 BAF adjustment, increase of $7 per TEU $410 $820 Oct 2011 BAF adjustment, increase of $3 per TEU $413 $826 Nov 2011 BAF - no change from prior month $413 $826 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' Jul-Sep 2011 BAF adjustment, increase $120 per TEU $765 $1,530 Oct-Dec 2011 BAF adjustment, increase $10 per TEU $775 $1,550 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 Sep 2011 Based on US National Fuel Cost Average for July 2011 35.5% Oct 2011 Based on US National Fuel Cost Average for August 2011 35.0% Nov 2011 Based on US National Fuel Cost Average for September 2011 34.5% 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 for imports (on-carriage) is the Actual Time of Departure (ATD) from the origin port of loading and for exports (pre-carriage) the fuel application date is the pickup date from the supplier.