1. Rationale for the development of high speed Ro-Ro services in Western Europe Competitiveness of high speed Ro-Ro services compared to road haulage Profitability of High Speed Crafts (HSC-BGV)

2. HSC-BGV competitiveness : Speed Road Standard Ferry HSC-BGV Kilometers per hour / kph HSC-BGV cargo ships have a service speed comparable to road haulage

3. Speed and distances

4. Speed and consequences (1) European transport quality standards are based on the respect of schedules and short transit time allowed by road transport Road haulage is organised to minimize transit time : –It is what the clients are asking for (« zero stock » and « just in time » concepts) –It is the key to the profitability of road haulage

5. Speed and consequences (2) Most of the time standard Ro-Ro services ( as opposed to HSC-BGV) are not competitive with road transport in terms of quality standards : –Whether when competing head-on (Belgium/Spain) –Or in indirect competition (Tunisia / Romania) CONSEQUENCES for standard Ro-Ros : Difficulties in the start-up and sustainability of Motorways of the Sea COMMENTS for HSC-BGV : HSC-BGV cargo ships are very close to the desired service level

6. Can HSC-BGV effectively compete with road haulage ? Even though HSC-BGV cargo ships deliver a good quality standard : Can HSC-BGV ships offer haulage costs (loading+unloading+fare) lower than the direct cost (sub-contracting) of road haulage ? Is this competitive edge stable or will it vanish in the future ?

7. Competitivenes in terms of prices and costs Average European figures (on a distance basis) : –Road transport price (to shippers): 1 € / km –Road transport sub-contracting price (direct haulage cost) : 0.65-0.85 € / km –BGV haulage (fare+loading+unloading) : 0.55 to 0.67 € / km (i.e. 1 to 1.2 € per nautical mile for mid distances depending upon traffic level and type of BGV cargo ship)

8. Review of unit costs (1) fuel : –Gas oil consumption of a refrigerated truck+trailer : Consumption : 36.7 l/100 km Price of gas oil (net European average) : 0.89 €/lit Cost for 100 km : 32.66 € –Fuel consumption per trailer on HSC-BGV ship Consumption per hour / per trailer : 67-78 kilos Price of HFO 380 : 230 € / ton Speed : 59 kph Cost per trailer for 100 km : 26.10 – 30.51 €

9. Review of unit costs (2) cost of labour : –Truck driver (basis : French Convention) Salary + social charges :3,139.91 € Number of hours worked per year :2,115 Number of drivers per truck :1.081 Cost of one work hour :19.26 € Cost for 100 km :27.55 € –BGV Crew (basis : French Convention) Crew cost for one work hour :182.54 € Crew cost for one hour per trailer :1.94 € - 1.04 € Cost for 100 km :3.28 € - 1.76 €

10. Review of basic unit costs (3) cost of vehicle for the haulage of one trailer : –Truck : Cost :68,500.00 € Years of use :6.1 Interest rate :6% Depreciation + financial charges :13,739.60 € /year Days in use : 231.9 / year Cost per day :59.25 € –HSC-BGV cargo ship : Cost :65 – 92,000,000 € Years of use :25 Interest rate :6% Depreciation + financial charges /trailer :42,026.00 – 32,184.00 € Days in use :300 Cost per day :107.28 € - 140.09 €

11. Trends in favor of HSC-BGV

12. Benefits for transport safety (1) inherent to all Ro-Ro services (as opposed to 100% road transport) –Less time on roads means less accidents for drivers and for the general public –Possibility to use smaller ports and by-pass congested areas –Economic consequences : Lower infrastructure costs Losses and insurance

13. Benefits for transport safety (2) Specific to HSC-BGV cargo ships: –Separation of cargo and passengers will improve passenger safety and security –Reasonable speed (less than current passenger vessels – catamarans) –Credible alternative on week-ends and holidays for refrigerated transport –European crews –Highest standards for crew training and management –HSC safety standards for ships –Modern navigational equipment