Bunker Adjustment Factor (BAF)
A surcharge container lines add to the freight rate to pass on changes in the price of bunker fuel, set against a reference price and usually reset monthly or quarterly on the price of an earlier period. Because it follows the fuel price with a lag and rarely covers every customer, a sudden rise in fuel costs a liner money before the surcharge catches up, and a fall can briefly leave it recovering more than it spends.
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Browse the full glossary: 386 finance recruiting and technical terms, in plain English.