One of the keys to the FastShip system is our specialized terminal operation. This the place where ship operations and inland transportation come together to create unparalleled savings in both time and cost.

The FastShip terminal operations will be purpose-built around the "one touch" principle—direct transfer of containers between trucks and the cassettes. Containers will arrive at the export terminal by truck or train and will immediately be positioned for transfer onto the ship using the innovative  AGV system. At the end of the voyage, when the cassettes are pulled off the ship into the terminal, containers are transferred directly from the cassette onto trucks or trains for immediate transport to their destination. No dwell time; no piling up of containers in the terminal; no sorting through piles of containers when trucks come to pick them up. The FastShip terminals will be completely cleared of import and export cargo in 16 hours.

The AGV is a proven technology that offers dramatic advantages making it possible to achieve the target 6-hour turnaround for the ship, but without the operational constraints of a rail-based system.  This makes it possible to integrate our specialized operations into a general-purpose marine terminal and substantially reduces capital costs.  This will facilitate the rapid roll-out of FastShip technology into new trade routes.

Philadelphia and Cherbourg have been selected as the locations of our Atlantic terminals because they are uncongested sites with unimpeded access to the most dense time-definite freight markets in the U.S. and Europe.

Approximately 60 percent of the U.S. time-definite market lies within 12 hours trucking time of Philadelphia and over 80 percent lies within the 24-hour radius. Similar delivery times can be achieved at Cherbourg for 80 percent of the European time-definite business.

In Philadelphia, the Delaware River Port Authority has agreed to underwrite $75 million to finance the terminal and is an investor in FastShip. Holt Oversight Logistics will be the Philadelphia terminal operator, Aegis Property Management will be the terminal project managers, Keating Building Corp. will be the general contractor, and Urban Engineers is responsible for design and engineering.

In Cherbourg, the French government, through the Direction du Transport Maritime, has committed $100 million to the project. GTM, the world's largest company in construction and associated services, will provide technical expertise in the engineering and construction of the terminal.