NEWS RELEASE: FEDNAV BRINGS NEW ICEBREAKER TO THE CANADIAN ARCTIC

Montreal, March 20, 2014 – Fednav announces the arrival in Canada of its latest, highly specialized icebreaker, the MV Nunavik. Built at JMU’s Tsu Shipyard in Japan, the ship will be used to export the concentrates produced at the Canadian Royalties owned Nunavik Nickel mine at Deception Bay in northern Quebec. The vessel will also supply the mine with equipment and fuel, year round.

Rated Polar Class 4, the Nunavik is the most powerful bulk-carrying icebreaker in the world. It is similar in design to the Umiak I, the Fednav ship servicing Vale’s Voisey’s Bay operation in Northern Labrador. The Nunavik will sail unescorted in Arctic regions and will operate in the extreme winter conditions of the Canadian Arctic. It is capable of maintaining continuous progress of 3 knots in 1.5 m of ice.

The vessel was designed by Fednav and JMU, and will sail between Deception Bay and Northern Europe on a year-round basis. The engine produces 29,600 hp, three times the power of a conventional bulk carrier of the same size. The Nunavik will be supported by Enfotec Technical Services, a Fednav subsidiary to provide up to date information on ice conditions as well as technical support to the inhouse IceNav navigation system.

The Nunavik is equipped with the latest environmental technologies, such as a Tier II engine that reduces nitrogen oxide emissions by 20%, and the first ballast treatment system installed on a Canadian-owned vessel.

“Fednav is particularly proud of the arrival of this new ship,” says Paul Pathy, President and Co-CEO of Fednav Limited. “It represents Fednav’s commitment to mining development in the Arctic, as well as our dedication to technological development and energy efficiency.”

In naming this new ship Nunavik, Fednav wanted to recognize the inhabitants and the region in which it will operate as well as its project partner, Nunavik Nickel.

-30-

Contact: Louise Fabris, 514.878.6428 | 514.909.6428
Email: lfabris@fednav.com
Website: www.fednav.com

FEDNAV LIMITED

Fednav is an international ship-owning company headquartered in Montreal. Its principal activities include the transport of bulk and general cargo worldwide. The company has offices in Antwerp, Barbados, Hamburg, Rio de Janeiro, London, Singapore, and Tokyo and regional offices in Canada and the United States. Fednav also has terminal, logistics, ice analysis, and shipping agency services and divisions. It employs 260 people and nearly 2000 crew members and stevedores.