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TUG MALTA - BAF 1 June 2017
Tug Malta Limited
37, Sir Luigi Preziosi Square
Floriana FRN 1154

agents/02/17/mc/gq

31 May 2017

To All Shipping Agents and Tug Users

TOWAGE RATES AND CONDITIONS - BUNKERING ADJUSTMENT FACTOR

We refer to our circular Agents/01/07 dated 3 August 2007, and would like to remind you that in accordance with Legal Notice n° 208 of 2007, Towage (Tariff of Rates) Regulations, 2007, a fuel surcharge (BAF) shall be applied to cover fluctuations in the international price of oil.  The surcharge based on the price of gas oil shall be calculated as a percentage on the normal rates charged for the service in accordance with Column 2 of the Tariff, and shall be revised periodically to reflect fluctuations in oil prices.

The BAF shall be charged over and above the normal rates included in the invoiced price of each operation and will not be subject to any rebates applicable to regular and frequent Users of tugs in accordance with a Rebate Contract.

Over the past two months, the average price of gas oil has decreased, and therefore the BAF rate with effect from 1 June 2017, will decrease from the present rate of 2.6% to 2.4%.

Any future changes in this rate will be notified to Agents, and published on our web site at www.tugmalta.com.

We would be grateful if you could advise your principals of this change.

Yours faithfully
TUG MALTA LIMITED

MALCOLM CUSTO`
CHIEF FINANCIAL OFFICER

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