Effective	30Nov1993
Filed	28Oct1993
Filing Codes	I

Unless otherwise provided, a Bunker Adjustment Factor
(BAF) shall apply to all cargoes from the U.S.A. as
follows:

                               BUNKER ADJUSTMENT FACTOR
   DESTINATION              PC20      PC40/PC40B      W/M
   -----------              ----      ----------      ---

  EUROPE COUNTRIES        $ 40.00      $ 80.00      $   --
  UK COUNTRIES              40.00        80.00          --
  SCANDINAVIA COUNTRIES     40.00        80.00          --
  BALTIC COUNTRIES          40.00        80.00          --
  TAIWAN                    32.00        40.00        2.00
  KOREA                     32.00        40.00        2.00
  SINGAPORE                 32.00        40.00        2.00
  JAPAN                     32.00        40.00        2.00
  HONG KONG                 32.00        40.00        2.00

Table: BAF - FROM U.S.A.

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