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| FAR EAST/EAST AFRICA FREIGHT CONFERENCE |
| BUNKER ADJUSTMENT FACTOR |
It is noted that the current Bunker Adjustment Factor of 114.70% for shipments by vessels other than PCC will be adjusted to 121.40% with effect from vessels arriving at individual ports of loading in Japan on and after February 1, 2012. |
| Tokyo, January 13, 2012 | Secretary. |
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