SEA-CARGO AS --- Transport at sea between Norway, Continent and UK ---

	Sea-Cargo, 20th November 2007 Changes in BAF surcharge
	Sea-Cargo regrets to announce an increase in our BAF surcharges as from 1st December 2007.
	Bunkers prices has increased substantially during 2007, and the increase has only escalated in recent weeks. Present quotes are at USD 825 for MGO and more than USD 510 for IFO 180. This is up from USD 400 for IFO and USD 700 for MGO only since middle of October. Sea-Cargo is left with no alternative but to collect a portion of the increased cost from the market – this by way of a change in the BAF Surcharge. The BAF surcharge will as from 01st December 2007 be 21%, up 3% from the present level of 18%. We ask for you kind understanding of this situation entirely outside our control.