MEMUTES EXHIBIT  t:

For! Ccmmissisn TVQ'QI
' ting of Emmy" \51 21215
BUILDING ON OUR 125-YEAR TRADITION
OF INNOVATION AND EXPERTISE



Paul Stevens remarks to the Port of Seattle commission 1l13l2015:

Good afternoon and thank you for awarding me this time. My name is Paul Stevens, I am the
president and CEO of Foss Maritime. Foss Maritime is a marine services business founded in the
Northwest 125 years ago, and we have been a tenant of the Port for over 90 years.
Our commitment to environmental stewardship and employee safety is well known and
represented by the many awards and commendations we have received over the years. Soto
clear the air early, I would not propose any projects that put my company's reputation at risk.

I am here today to discuss Foss' interim use of Terminal 5. Approximately six months ago, Foss
was approached by a number of customers to arrange for a break-bulk and moorage facility for
future projects. We approached the Port regarding the availability of T5 for this work.
Our proposal is to use a portion of T5 to accomplish the staging, loading and outtting of marine
assets planned for Shell's Arctic exploration endeavor. Also, we hope to use T5 for the staging,
assembly and loading of equipment for a planned liquefied natural gas plant in Prince Rupert,
British Columbia. We are also pursuing other suitable projects for the facility.

We feel that T5 is a perfect candidate for these projects because of their short-term requirements,
the deep-water moorage and our ability to work around the Port's long-term plans for a
modernized container facility.

In the short term, both of the projects  if we are successful  would bring hundreds of good
maritime jobs to the waterfront and provide the Port with a source of interim revenue. Other
aspects of the Shell project would bring significant business to other Puget Sound ports, including
Tacoma, Everett and Bellingham. Since 2006, Shell and its contractors have spent more than
$500 million in Washington state. lfthey are forced to abandon Seattle, it will have a negative
impact on all Puget Sound ports, including Tacoma. ,
Arctic exploration is an issue for Alaska and the federal regulatory agencies. What we decide here
today will not impact our customer's decision to go forward. The issue before you is whether the
Port and the city of Seattle enjoy the benefits of the jobs and revenue that this project generates.
Unfortunately, given the complexity of this project, and as we have informed the Ports staff on
many occasions, our customer is at the end of their decision-making process, so we are out of
time.

The Seattle maritime industry has worked on projects supporting Alaska development since the
Klondike Gold rush. Seattle's well-trained work force and solid infrastructure makes this an ideal
location for these types of projects.

I urge the commission to allow the staff to complete lease negotiations with Foss.

Contact: Paul Queary, 206.334.1483, paulq@strategies360.com



Foss Maritime Company

1151 Fairview Ave. N.
Seattle, WA 98109