Use the hatchet or axe to chop off a piece of fatwood from the stump of a pine tree, as fatwood is so resinous that it will gum up a saw. Sometimes the fatwood is old enough that it can simply be broken off with bare hands.
Chop the piece of fatwood into usable pieces with the hatchet. A usable-sized piece is one you can hold in your hand and work on. Collect your pieces of fatwood, and choose one to cut down into tinder. Store the rest with your gear.
Hold the piece of fatwood in your hand, and begin to cut off shavings with the knife. Let the shavings pile up on the ground in front of you as you work into the fatwood, turning it over in your hand so that you shave it evenly on all sides. Shave as thinly as possible to create the most flammable fire-starting tinder.
Use your ferro rod or other spark source over the pile of fatwood shavings, and direct the sparks right into the tinder. A good spark should catch the fatwood shavings on fire, which can then be used to start up a larger fire.