1996-12-20 11:17
[ KNFC Will Reduce the BAF on Jan. 1, 1997 ]
The Korea Nearsea Freight Conference(KNFC) announced it will reduce
the bunker adjustment factor(BAF) for the Korea/Japan trade from the
current 17 percent to 16 percent as of Jan. 1, 1997.
The reduction has been decided in light of recent declines in bunker
oil prices.
The new rate will apply to vessels making port at loading ports
beginning from January 1.
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