Colombia & the region

The Tug Supplier will calculate the Bunker Adjustment Factor (BAF) monthly as the difference between the

MGO price (Colombian provider) of the current month and the MGO price of December of the previous year.

If the MGO price increases 5% or more, the surcharge will apply for the next month and will be notified with

five calendar days in advance. The surcharge will be calculated as the multiplication of the BAF and the

average tug consumption per maneuver in each terminal/port. For the ports of Barranquilla, Buenaventura,

Cartagena, and Santa Marta, the average tug consumption per maneuver is 80 gallons. For Puerto Nuevo, it

is 150 gallons per tug per maneuver. Not applicable for Drummond.