Currency adjustment factor on UK Shortsea Routes
The value of the GBP against the EUR has increased dramatically in the last few months, therefore we had to introduce currency adjustment factor on UK Shortsea Routes.
End of March 2015 the ROE of the GBP/EUR was: 1,3578
Equal to a change of : 9,40%
On routes serving the UK, we have a substantial share of our costs paid in GBP, hereunder Piloting, Port Costs, Port THC’s, Staff costs as well as trucking, whereas our revenue is invoiced in EUR.
The business we carry to/from UK Ports is no longer sustainable, and we are therefore implementing a CAF (Currency Adjustment Factor) to make up for the loss of revenue in EUR.
The CAF will be reviewed on a monthly basis and the CAF level for each month will be based on the average rate of exchange for the period from the 15 two months before upto the 14 the month before. As an example, the CAF for April will be based on the average ROE from 15 of February up to the 14 of March. The new monthly CAF will be published on the 25 of the month before it is effective.
The CAF level will be adjusted as per below table:
For questions or comments, please contact your local Unifeeder representative.
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