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Date: Fri, 15 Sep 2000 08:59:00 -0700 (PDT)
From: chris.connelly@enron.com
To: george.mcclellan@enron.com, stuart.staley@enron.com, 
	jeffrey.shankman@enron.com, mike.mcconnell@enron.com, 
	kevin.mcgowan@enron.com, tom.mcquade@enron.com
Subject: Freight weekly report
Cc: peter.bradley@enron.com, jez.peters@enron.com, candace.parker@enron.com, 
	kenny.nicoll@enron.com, dimitri.taylor@enron.com
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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