Message-ID: <6491822.1075857507083.JavaMail.evans@thyme> Date: Mon, 26 Feb 2001 01:48:00 -0800 (PST) From: jeffrey.shankman@enron.com To: jennifer.burns@enron.com, jennifer.fraser@enron.com Subject: Freight weekly report Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Jeffrey A Shankman X-To: Jennifer Burns, Jennifer Fraser X-cc: X-bcc: X-Folder: \Jeffrey_Shankman_Jun2001\Notes Folders\All documents X-Origin: Shankman-J X-FileName: jshankm.nsf J.B. please print. J.F. are you on the distribution, and is this linked to the fundy page? ----- Forwarded by Jeffrey A Shankman/HOU/ECT on 02/26/2001 09:46 AM ----- Andy James@ENRON 02/23/2001 10:27 AM To: George McClellan/HOU/ECT@ECT, Stuart Staley/LON/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, Mike McConnell/HOU/ECT@ECT, Kevin McGowan/Corp/Enron@ENRON, Tom Mcquade/HOU/ECT@EC cc: Peter Bradley/LON/ECT@ECT, Jez Peters/LON/ECT@ECT, Candace Parker/LON/ECT@ECT, Kenny Nicoll/LON/ECT@ECT, Dimitri Taylor/LON/ECT@ECT, Andy James/EU/Enron@Enron, Cornelia Luptowitsch/LON/ECT@ECT, Dorte Kjaergaard/LON/ECT@ECT, Fiona Ryan/LON/ECT@ECT, Jennifer Burns/HOU/ECT@ECT, Jeff Andrews/NA/Enron@Enron, Carrie Southard/LON/ECT@ECT Subject: Freight weekly report Enron Shipping Services Weekly report 08/2001 Highlight Despite sharp movement in spot rates for both sectors week in general has been relatively quiet. Capes saw majority of strength in Pacific with Intra Pacific rates rising around $1800 since last week. Late surge in Japanese buying ahead of the close of their financial year is main reason attributed to this rise. Atlantic Capesize been pretty flat to marginally better, no exciting news. Outlook for coming week is that Far East strength will be maintained although pace definitely slowing. No change sentiment in Pacific. Panamax has seen opposite effect, grain stems finally rolling from S America which has been the major driver of the Atlantic market, for March loaders. market was under impression that Pacific likely to come under downward pressure but once the demand has been strong enough epecially for modern tonnage and outlook for coming week is that reates are likely to maintain firmness. Atlantic expected continue run for next week. Short term we have established small long for nearby Capes, but maintain overall perspective to sell forward curve on appreciable rallies. Panamax very similar approach. Panamax we fixed timecharter tonnage to cover 14 / 26 Mch Dreyfus Ist nomination USG / Far East grain cargo. Have also taken option to extend period of vessel for short Trans-Pacific voyage if market maintains strength longer than we think. Capes nothing Market Short term Medium term Long Term Handy Max Flat Up Down Panamax Up Flat Down Cape Size Up Flat Down Cape Average time charter rate: $ 18,315 ( +$1005 ) Spot RBCT/Rotterdam: $ 8.678 ( +$0.156) Spot Tubaro/China: $10.285 (+$0.16) Spot Bolivar/Rotterdam: $ 6.625 ( +$0.122) Panamax Average time charter rate: $ 11,654 ( + 544 ) Spot US Gulf/Japan: $21.994 ( + $0.513 ) Deals Done Physical Freight ECS freight Third party freight deals As above Panamax OTC FFA s Quieter week few swaps on both the Cape and Panamax routes. EOL Traded 150,000 tons BCI 4 with Bocimar Travels Pierre in Houston all week. Andy