FAF (FUEL ADJUSTMENT FACTOR)
Since 01 May 2022, a Fuel Adjustment Factor (FAF) has been added to our marine and container terminal service charges.
The FAF is levied in two parts and updated monthly. The current rates (January 2023) are:
- $1,091.91 per vessel port call covering arrival and departure, to recover diesel costs for tugs and the pilot launch, and
- $8.48 per TEU, to recover diesel costs for cranes, top lifters, generators and other diesel usage on port.
- DLRs (Discharge, Land and Restows) and Transhipments are exempt from the FAF.
The FAF is updated monthly, in arrears, based on actual monthly fuel-price movements (compared with average fuel costs from FY2021).
The mechanism for calculating the FAF is:
- The base rate used is the average rate for our 2021 financial year (Oct 20 – Sep 21): 133.72cpl
- Data is sourced from MBIE’s weekly table of diesel prices.
- The calculated average rate during November 2023 using the published data is 2.2697cpl, resulting in a difference of 0.9326cpl. This has been applied to FAF rates for January 2023.
- We publish the monthly average rate on our website, with one month’s notice.
- The updated FAF is currently calculated monthly. This frequency will be reviewed periodically, and may be changed depending on the general volatility in diesel price movements.
Recent FAF rates summary
|January 2024||December 2023||November 2023|