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Enron Mail |
Enron Shipping Services Weekly report 37/2000
Highlight Coeclerici deal is on track for completion in a weeks time. Looking for our second big cape deal with potentially SK Shipping or Bocimar which would net out all our underlying expossure with Coeclerici and allow us to keep the options. Fixed a Panamax on subject with Bocimar for 3/5 months to do the first grain cargo ( US gulf/Japan ) with Dreyfus Market Short term Medium term Long Term Handy Max UP Flat Flat Panamax UP UP Flat Cape Size Flat Flat Flat Panamax : Market continues to rise in the east from Australia to China and .next year based soly on sentiment. Capes : Market is a little flat as many asian countries were on holiday this week Crude is not falling which keeps owners unwilling to discount Deals Done Physical Freight ECS freight Still on subject 2+1 geared panamaxes from Indo to Hong Kong for November to January 2001 at $6.35. Third parties freight deals As stated above, fixed our first Panamax on TC with Bocimar at $12,200 OTC FFA s Bought 2 long swaps from cargill for next year on panamax with intent to resale quickly. Deal Flow We have given rate indications on the following: Rates to Preag Rates for Arcadia coal purchase from US Gulf 2 capes to Mission for late this year into Redcar Still trying to sell our length in the pacific as rates increased by $2,000/day and feel it is right time to sell Miscellaneous We are having a conference call with ABC to discuss a potential bid for their company. Meeting Elcano ( spanish utility ) next week to discuss grouping our resources to buy ABC. Have hired an EOL trader ( Andy James ) with start date October 12. Travels None. Both Pierre and I in the office all next week
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