FAF

FAF (FUEL ADJUSTMENT FACTOR)

From 01 May 2022, a Fuel Adjustment Factor (FAF) will be added to our marine and container terminal service charges.

The FAF will be levied in two parts and updated monthly. The current rates (September 2022) are:

• $2118.55 per vessel port call covering arrival and departure, to recover diesel costs for tugs and the pilot launch, and
• $16.33 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 will be updated monthly, in arrears, based on actual monthly fuel-price movements (compared with average fuel costs from FY2021).

Calculation methodology

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 July 2022 using the published data is 2.8971cpl, resulting in a difference of 1.4432cpl. This has been applied to FAF rates for September 2022.
• We will publish the monthly average rate on our website, with one month’s notice.
• The updated FAF will initially be 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