Last updated on April 18, 2014 at 17:24 EDT

Fednav Orders New Icebreaker

October 30, 2012

MONTREAL, Oct. 30, 2012 /PRNewswire/ – Fednav and Canadian Royalties are
pleased to announce the signing of a long-term contract which provides
for the transportation of nickel and copper concentrates from Canadian
Royalties’ Nunavik Nickel Project in northern Quebec to customers in
Europe as well as the import from Europe of mine supplies and

Speaking yesterday at the 5(th) Arctic Shipping North America Conference, Thomas Paterson, a Senior
Vice-President of Fednav Limited, announced the placing of an order
with Sumitomo Corporation and Universal Shipbuilding Corporation,
Japan, for the design and construction of an ice-breaking bulk carrier
with a design deadweight of 25,000 tonnes to service the transportation
contract referred to above. The Polar Class 4 vessel will be built at
Universal’s Tsu shipyard, and will be classed by Det Norske Veritas.
The scheduled delivery date is December 2013.

Fednav already owns and operates two of the world’s most powerful
ice-breaking commercial vessels, the MV Arctic and the MV Umiak I. Based in Montreal, the Fednav Group is the leading Canadian operator
in the deep-sea bulk market, operates year-round in ice-covered waters,
and has the world’s largest fleet of ice-class vessels.

Canadian Royalties Inc. is a mining company based in Quebec and owned by
Jilin Jien Nickel Industry Co. Ltd. of China through its Canadian
subsidiary Jien Canada Mining Ltd. Canadian Royalties’ principal mining
operations are in the Nunavik region of northern Quebec, where it owns
and operates the Nunavik Nickel Project, a group of poly-metallic mines
feeding a central processing facility which produces nickel and copper
concentrates with significant platinum group element by-products.

SOURCE Fednav Ltd.

Image with caption: “Umiak I in ice. (CNW Group/Fednav Ltd.)”. Image available at: http://photos.newswire.ca/images/download/20121030_C3375_PHOTO_EN_19860.jpg

Source: PR Newswire