Date: Thursday, April 17, 2008 Re:  Fos Terminal Received below from the CEO of Fos terminal: Handling operations at Fos Terminal are heavily hit by Port personnel and Dockers' strikes: Number of available shifts per week 4 unworked shifts per week by Port Authority personnel. Actions are decided after dockers' gangs have been ordered by terminal and focus at shifts where maximum number of gangs will be employed (5 gantry cranes), which in turn affects labour availability for following shifts. 3 unworked night shifts by Dockers As a consequence, on a maximum availability of 21 weekly shifts, only 14 can be worked, i.e. a reduction of more than 33% of the terminal's operating capacity. Lower productivity. Worked shifts suffer from: Go-slow action from Port Authority crane drivers inducing a productivity decrease from 40 to 60%. This added to the shifts' strike action, ship to shore capacity is being reduced by more than 66% Go-slow action for yard operations for receiving & delivery which induces productivity decrease and consequently increases hauliers' turn time. Conclusion: Presently, Eurofos terminal can only serve vessels with a maximum of one third of its nominal quayside capacity and vessels' waiting time on roads increases dramatically. Eurofos is unable to serve its usual gate in/out flows In front of this situation: As from Friday 18th April, export containers will no longer be received on terminal. De facto, terminal will gradually operate only import moves Should industrial actions continue further, Eurofos will shortly not be in a position to operate vessels in commercially viable conditions. According to the evolution of the social situation, we will inform you of the decisions that Eurofos will be compelled to take in front of this progressive strangulation of the terminal.