Port Congestion – Limited Berths: Length, Availability

or Both

June 9, 2010

Port Profile – Prior to Improvements

Port Profile – Prior to Improvements

October 2009 – Three Ship Day

October 2009 – Three Ship Day

Business Case – Status Quo OR Second Berth

• Berth expansion at CHAI wharf cost $18.5 M; it is a multi-purpose berth for all commercial shipping and cruise ship activities

• Current berth generates sufficient revenue to cover debt service and operating costs

• 2010 Cruise season – 14 ships from April – August (5 months 32%) ; 14 ships in September (1 month 32%) and 16 ships in October (1 month 36%)

• Extending the season to better utilize existing berth capacity

• Second berth possible at Coast Guard Wharf

• Would require a capital investment that is estimated at $12.0 M

• Expanded berth would only be suitable to cruise ships due to adjacent developments

• With single sole source revenue –long term viability

• Exploring funding/financing models for second berth

Status Quo Second Berth