Project Brief: GCT Deltaport Berth 4 Prepared for: PCLC April 23, 2019 GCT Canada Limited Partnership CONFIDENTIAL
Outline 1. About GCT 2. GCT Deltaport Expansion, Fourth Berth Project (DP4) overview and project status 3. GCT submission to CEAA RBT2 Panel – Why? 4. Comparative analysis 5. The Ask GCT Canada Limited Partnership 2
1 ABOUT GCT GLOBAL CONTAINER TERMINALS INC. GCT Canada Limited Partnership 3
GCT Global Container Terminals Inc. HQ in Vancouver, 4 million TEUs at leading global gateways GCT Vanterm GCT CANADA GCT Deltaport GCT Inc. HQ GCT Bayonne GCT New York GCT USA GCT Canada Limited Partnership 4
GCT Global Container Terminals Inc. Canadian & International Institutional Investors In 2007 GCT was acquired by Ontario • GCT Ownership Teacher’s Pension Plan (OTPP) who owned 100% of the equity December 2018, IFM Investors and • BCI, British Columbia Investment Management joined OTPP as equity partners IFM Investors manages US$81B • globally of institutional funds. HQ in Australia with North America offices in New York City BCI manages $135B globally. • HQ in Victoria, BC GCT remains a majority Canadian- • owned company with 3 exceptional shareholders who are leading infrastructure investors with significant experience in the ports sector GCT Canada Limited Partnership 5
Sustainable Operator Investing in the communities in which we operate DELTA VANCOUVER Delta Chamber of Commerce BC Children’s Hospital Delta Farmland & Wildlife Trust BC Lung Association Delta Firefighters Greater Vancouver Board of Trade Delta Hospital Foundation Hastings Community Policing KidSport Delta Hastings Elementary School North Delta Blue Jays Baseball Heart & Stroke Foundation Operation Red Nose – Delta Society Mission Possible Reach Child & Youth Development Ride to Conquer Cancer Rotary Club of Tsawwassen UBC Supply Chain Program Tour de Delta Union Gospel Mission South Delta Secondary School Vancouver Maritime Museum Scholarship & Drama Program GCT Canada Limited Partnership 6
Sustainable Operator Investing in the communities in which we operate GCT Canada Limited Partnership 7
Responsible Stewards of Roberts Bank Proven environmental performance GCT honoured with prestigious • Clean50 Top 15 clean projects award As part of our initiative to set the • standards for sustainability in the marine industry, all four GCT terminals are Green Marine certified earning “Excellence & Leadership” in nearly every category GCT Canada was recognized by CN • EcoConnexions Sustainable Partner program for 2018 GCT Canada was recognized by CN • EcoConnexions program for 2018 GCT Canada Limited Partnership 8
GCT DELTAPORT EXPANSION, 2 FOURTH BERTH PROJECT (DP4) GCT Canada Limited Partnership 9
Marketplace context Capture of U.S. destined discretionary cargo COMPETING FOR U.S. DESTINED CARGO 35 GCT Canada Limited Partnership 10
Marketplace context CARRIERS REQUIRE FEWER BUT LARGER TERMINALS IN EACH PORT “ The dominance of the three alliances has Ocean Carriers & Terminals changed the character of that competition, as it Alliances provides a lot of leverage to alliances. A port with calls from the three alliances would ideally have three or more competing terminals that have exactly the right capacity to serve the calls from the respective alliances. Needless to say, this is rarely ever the case. Ports with three terminals and calls from three alliances can find themselves confronted with three alliances that predominantly use two terminals. Other ports might have two terminal operators that will have to deal with cargo from three alliances. Often the outcome of such dynamics is a “winner takes all” phenomenon, where one Consolidation still needs terminal is over-utilised whereas the competing Consolidation has to occur occurred terminals will be underutilised .” (Source: pg.63, The Impact of Alliances in Container Shipping, Source: Drewry, Future of Ports and Shipping, 2015 International Transport Forum, OECD/ITF 2018) GCT Canada Limited Partnership 11
Pacific Gateway Container Trade Historic Forecasts vs. Actual GCT Canada Limited Partnership 12
BC West Coast Overview Capacity expansions vs. forecast ? ? GCT Canada Limited Partnership 13
Long-Term Canadian Port Infrastructure Investor History of GCT investment in Port of Vancouver 1997 + 2001 2010 2018 DP Commissioned + Expanded 3rd Berth Expansion complete Yard Expansion & Densification COMPLETED $180M $300M Active plans Future Investment at GCT Vanterm Investment at GCT Deltaport $160M ~$1B+ PLANNED GCT Canada Limited Partnership 14
Informed by Robust and Advanced Environmental Studies GCT independently engaged expert advisors, environmental and engineering • consultants to examine capacity options for Canada’s West Coast. Based on their findings, we have concluded that incremental expansion of GCT Deltaport that would deliver up to 2 million TEUs of additional capacity in two construction stages is feasible. It may also have lower environmental impacts and deliver capacity at a lower all-in cost when compared to the proposed RBT2. DATE VENDOR DESCRIPTION 2014 Parsons Brinckerhoff Roberts Bank Container Terminal Capacity Enhancement alternatives 2015 Amec Foster Wheeler Conceptual Fisheries Offsetting Plans for the Proposed Deltaport Expansion Project Assessment of Policy Options to Satisfy Canadian West Coast Container Port 2016 CPCS Capacity Needs 2017 PGL Preliminary Environmental Impacts Comparison: RBT2 & DP4 2018 Ausenco GCT Deltaport Expansion: Offsetting Outline and Approach 2019 Black Quay Analysis of Capacity Options on the West Coast of Canada GCT understands that GCT is not barred from submitting applications for • regulatory approvals, including under the Fisheries Act (which has been significantly amended since 2003) and under CEAA 2012. In this case, the VFPA is GCT's regulator under several statues (CEAA 2012 and the • Canada Marine Act). The VFPA’s PER process applies to activities proposed on lands and waters within its jurisdiction. After numerous engagements with VFPA, GCT has submitted the Preliminary • Project Enquiry (PPE) to VFPA in February 2019. GCT Canada Limited Partnership 15
Preliminary Project Enquiry GCT Deltaport Expansion, Fourth Berth Project (DP4) GCT Canada Limited Partnership 16
DP4 Project Timeline Indigenous & Stakeholder engagement and consultation 1 Pre-PER 2 PER / Environmental 3 Assessments *Determination of whether DP4 is a Permitting 4 designated project under CEAA / BC EAO = EA Process Environmental approvals 5 Construction 6 Timing of Project Schedule may vary and will ultimately be determined by 7 Operations regulatory process timelines, business case and market conditions 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 * The Canadian Environmental Assessment Act, 2012 designates projects that require a federal environmental assessment to determine whether the designated projects have the potential to cause significant adverse environmental effects. New Federal legislation (Bill C-69) may change the federal environmental assessment process and its application to proposed activities. The BC Environmental Assessment Office may also be involved with the EA Process if reviewable under Provincial Assessment. The processes may be harmonized. GCT Canada Limited Partnership 17
Studies informing the DP4 project rationale Engineering Studies Roberts Bank Terminal Capacity Navigational Memo Engineering Studies (Project Design, Wharf Enhancement Alternatives -Ausenco, Capt. J. Swann Structure, Mooring Arrangements) -Parsons Brinckerhoff - Ausenco GCT Canada Limited Partnership 18
Studies informing the DP4 project rationale Environmental GCT Canada Limited Partnership 19
Studies informing the DP4 project rationale Environmental Potentially lower environmental impacts Infill = 56 ha Dredging = 43 ha Total = 99 ha Eelgrass 71% of total footprint (~70 ha) Key Point: Overall lower environment impacts expected from smaller footprint, and in particular lower impacts to crabs and crabbing area are expected which is of significant importance to the Tsawwassen First Nation GCT Canada Limited Partnership 20
GCT Deltaport Berth 4 Project Project rendering Short Sea Shipping Berth Tsawwassen First Nation Marina & Tug Basin Expanded Rail Yard Expanded Container Yard GCT Canada Limited Partnership 21
Deltaport Berth 4 Project Aerial Photograph with existing and proposed use GCT Canada Limited Partnership 22
Habitat Survey 2013 Fill Fill Area Dredge Area 23 GCT Canada Limited Partnership
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