For Immediate Release September 3, CONSTRUCTION BEGINS ON NEW CABLE FERRY Special steel cutting ceremony held at shipyard

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1 For Immediate Release September 3, 2014 CONSTRUCTION BEGINS ON NEW CABLE FERRY Special steel cutting ceremony held at shipyard VICTORIA BC Ferries and Seaspan s Vancouver Shipyards announced that the first steel cut for the new cable ferry took place today at the shipyard s sub-assembly building in North Vancouver. The event marks the beginning of the next new vessel that will enter the BC Ferries fleet and was recognized at a special ceremony involving representatives from both BC Ferries and Seaspan. Today is an exciting day for BC Ferries as we officially begin construction of the cable ferry, which will enter service on our Buckley Bay Denman Island route next summer, said Mike Corrigan, BC Ferries President and CEO. We re proud of our partnership with Seaspan and we know that they will construct an excellent ship for the millions of customers who will sail on her over the next 40 years. Seaspan has a long and established relationship working with BC Ferries in building and repairing ships for the people of British Columbia, and we are proud to begin construction today of its first-ever Cable Ferry at our new, state-of-the-art, $185 million facility, said Brian Carter, President Seaspan Shipyards. With community roots tracing back to 1886, Seaspan is a longserving contributor to British Columbia s economy and we look forward to continuing to play that role for many years to come through our service to BC Ferries and its customers. Five-hundred and seventy-eight tonnes of steel will be used to build the cable ferry. Construction of the cable ferry including system and acceptance trials will take just under eight months. This project will employ between 50 and 100 skilled workers for this duration. Once complete, the cable ferry will measure 78.5 metres and will accommodate 50 vehicles and 150 passengers and crew. The cable ferry will operate with one drive cable and two guide cables. With a crossing of approximately 1900 metres, this cable ferry will be the longest one in the world, capable of speeds of 8.5 knots with a normal service speed of 7.5 knots. The cable ferry provides BC Ferries with substantial cost savings of over $80 million over the 40-year life of the project compared to the current service, and these significant cost savings of $2 million per year will help with fare affordability across the coastal ferry system. The new cable ferry will provide the same level of service as the current self-propelled vessel on the route; however, with no propellers and three times the fuel efficiency as conventional ferries, a cable ferry is a much more sustainable and greener alternative to marine transportation.

2 Page 2 BC Ferries is currently undertaking terminal upgrades at the Buckley Bay and Denman Island West terminals in order to accommodate the new cable ferry. These projects will be complete by the end of this year. Under contract to the Province of British Columbia, BC Ferries is the service provider responsible for the delivery of safe, efficient and dependable ferry service along coastal British Columbia Media Contact: BC Ferries, Media Relations Victoria: (250) Customer Contact: Victoria: (250) Toll-free: BCFERRY ( ) Left to right: Chester Saret, Seaspan Chargehand, Brian Carter, President, Seaspan Shipyards and Mike Corrigan, BC Ferries' President and CEO make the first steel cut for BC Ferries' cable ferry. Tel (250) Fax (250)

3 Page 3 Left to right: Brian Carter, President, Seaspan Shipyards presents Mike Corrigan, BC Ferries' President and CEO a plaque of the first steel cut. Tel (250) Fax (250)

4 September 2014 CABLE FERRY SPECIFICATIONS Gross Tonnage : Length Overall : Breadth Moulded : Depth Moulded to Main Deck : Maximum Load Draft : Maximum Displacement : Prime Mover : Brake Power of Prime Movers : Deadweight : RO/RO Freight Capacity : Approx. 750 GT Approx metres Approx metres Approx metres Approx metres Approx. 870 metric tons Diesel Approx. 2 x 300 kw Approx. 280 metric tonnes 50 Automobile Equivalents

5 HIGHLIGHTS OF A CABLE FERRY The cable ferry will provide the same high level of service from a safety and reliability perspective as is currently provided by the existing vessel. The cable ferry provides substantial cost savings of over $80 million over its project life (40 years) compared to the current service. These significant cost savings of $2 million per year will help reduce pressure on future fare increases across the coastal ferry system. Fuel costs for a cable ferry are less than half of a conventional ferry. Labour costs are approximately half of a conventional ferry. Maintenance costs are significantly less than for a conventional ferry. Environmental benefits include: reduced fuel consumption; lower air emissions; reduced wake; no propeller turbulence; low anti-fouling discharge; zero discharge to the marine environment. Cable ferries are a proven technology. There are approximately 65 cable ferries in operation in Canada alone. BC Ferries has had numerous third party companies involved in the design, analysis and studies of the cable ferry project. BC Ferries has obtained the necessary regulatory approvals for the cable ferry project including approval from the Department of Fisheries and Oceans under the Canadian Environmental Assessment Act and Transport Canada approval under the Navigable Waters Protection Act. The vessel will be a roll-on/roll-off cable ferry, with a minimum vehicle capacity of 50 AEQ and a license to carry a total complement of 150 persons. Passenger accommodation will include: a heated indoor seating area for 60 persons; outdoor seating for 30 persons in a sheltered area; and washroom facilities fully accessible for persons with disabilities.