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Wed 20 Aug 2008 09:56

Hyundai launches new BAF finder


BAF calculator is based on shipping firm's new BAF formula.

Integrated logistics company Hyundai Merchant Marine Co. Ltd.(HMM) has announced the launch of a new Bunker Adjustment Factor (BAF) calculator, which will be based on its new BAF formula to be implemented from the start of October.

On 18th October 2008, Liner Conferences to and from the European Union's 27 member States will be abolished in accordance with EC Law, after which former liner conference surcharges will be replaced by each carrier's own independently calculated surcharge tariff, including the BAF.

In preparation for these changes, Hyundai Merchant Marine has launched an online BAF calculator and revealed that it will be implementing its own BAF formula from 1st October 2008 onwards.

The BAF calculation will be based on the following facors:

*The average bunker consumption per container vessel on a round trip basis for the Asia-Europe trade and the Trans-Atlantic trade.

*The average bunker price per ton over a given month for Asia-Europe trade and Trans-Atlantic trade. Both will be reviewed and announced monthly.

Hyundai says the average bunker price per ton will be applied to the BAF two months later.

In the two months leading up to the abolition of liner conferences, customers can simulate their BAF calculation using the company's BAF Finder at the following address:

www.hmm21.com/hmm/ebiz/BAF/index.jsp

Hundai says the online calculator "aims to provide an illustration of our transparent calculation mechanism".


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