... and they had to reflect the increases in a format named Bunker Adjustment Factor, also known as “BAF”. Meaning of Bunker Adjustment Factor. Thursday, June 04, 2020. p Print news. September 9, 2019. It applies to contracts with validity longer than 3 months. BAF is the abbreviation for Bunker Adjustment Factor.The term "Bunker" refers to the Fuel that is used to operate ships.The ship operator is responsible for the payment of these bunkers to the bunker supplier. Contargo has therefore decided to include the factors of. With reference to our previous advisory dated 9 April 2020, please be advised that APL will apply the following Bunker Adjustment Factor (BAF) – also known as Bunker Surcharge (BSC) – for long-term contracts of more than 3 months' validity, effective 1 July 2020.. Share: The changing landscape of the maritime shipping industry highlighted the distortions and inefficiencies in shippers’ existing marine fuel practices. Share , The Bunker Adjustment Factor in shipping is a type of surcharge that happens from time-to-time during ocean cargo moves. Accordingly, Maersk will apply the additional monthly trigger defined in our Bunker Adjustment Factor (BAF) and Environmental Fuel Fee (EFF) formulas and the new tariffs will be effective 1 March 2020. What does Bunker Adjustment Factor mean? The other relevant parameters form an input into the calculation of the price list. Information and translations of Bunker Adjustment Factor in the most comprehensive dictionary definitions resource on the web. BAF – Phụ phí nhiên liệu: Là khoản phụ phí (ngoài cước biển) hãng tàu thu từ chủ hàng để bù đắp chi phí phát sinh do biến động giá nhiên liệu, tương đương với thuật ngữ FAF (Fuel Adjustment Factor). As fuel prices are quite volatile, the shipping lines charge a fee called "Bunker Adjustment Factor (BAF)" to cover the fluctuations in global bunker costs. Bunker fuel started to be used in the shipping industry increasingly in the 1950’s as it is the primary power source for the vessel engine. Bunker Adjustment Factors Are a Thing of the Past. The quantums and service scope for BAF applicable from 1 July 2020 until further notice, are as stated below: Other provisions provide for freight to be adjusted where bunker prices go above or below certain parameters. Bunker adjustment factor clauses. Phụ phí BAF (Bunker Adjustment Factor). The European Commission banned Carrier Conferences as of October 17, 2008. One major emerging challenge is the long-standing inconsistency in BAF practices. We use Bunkerworld’s fuel price index 0.5% Sulphur fuel oil … When fuel prices are subject to major price fluctuations, the shipping company sometimes levies a bunker surcharge or BAF (Bunker Adjustment Factor) of BUC (Bunker Contribution) so as to compensate for the risks of price fluctuations. Update on Bunker Adjustment Factor (BAF) As previously communicated, our revised Bunker Adjustment Factor (BAF) is designed to adjust contract rates within the duration of a contract, based on fluctuations in fuel-related costs. The result is the "Bunker Adjustment Factor" (BAF) or bunker charge. More specifically, the BAF is a surcharge put on shippers with cargo aboard a vessel to keep an ocean carrier’s oil expenses in check. Bunker Adjustment Factor. Bunker adjustment factor, bunker surcharge or BAF refers to floating part of sea freight charges which represents additions due to oil prices. The shipping lines now set their own independent BAF rates. BAF charges used to be determined by Carrier Conferences to be applicable for a certain period on a certain trade route.. Bunker Adjustment Factor (BAF) Update - Q3 2020 . 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