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Enron Mail |
We seem to be going round in circle's here and hence hopefully all the relevant people are now on copy of this e-mail so we can resolve swiftly. This cargo is due to be shipped in seven days with the coal already being railed to port. It is coal which will be shipped to service European commitments and represents the cheapest way to do so taking all costs into account (including financing). Needless to say if we pull out of this deal at this stage it will have huge ramifications with our customer and send all the wrong signals to our counterparties in this part of the world. Last but not least we will need to look elsewhere to procure coal for these European sales at what is likely to be a higher price.
Appreciate the green light. Thks Jez -----Original Message----- From: Suttle, John Sent: Tuesday, 13 November 2001 9:21 AM To: Miyai, Tark; Minns, David; Mason, Heidi Cc: Peters, Jez; Skinner, Fiona; Bauer, Adam; Bradford, William S.; Nimmo, Matthew Subject: RE: Bengalla Biz It has been made clear to me that Jeff Shankman needs to clear this transaction through Bill Bradford and Louise Kitchen prior to any capital going out the door. It is my understanding that this has not been done. John -----Original Message----- From: Miyai, Tark Sent: Monday, November 12, 2001 4:13 PM To: Minns, David; Mason, Heidi; Suttle, John Cc: Peters, Jez; Skinner, Fiona; Bauer, Adam Subject: FW: Bengalla Biz David, See below Jeff Shankman's ok to proceed as usual. Tax has come back with ok. Coal is being delivered to port. Bengalla has oked to our draft as well. Pls review and comment asap. Credit, any comment on Bengalla? Tark -----Original Message----- From: Staley, Stuart Sent: Tuesday, November 13, 2001 2:57 AM To: Peters, Jez; Miyai, Tark; Pielop, Stuart; Skinner, Fiona Subject: FW: Bengalla Biz FYR... -----Original Message----- From: Shankman, Jeffrey A. Sent: 12 November 2001 15:02 To: Mcclellan, George Cc: Price, Brent A.; Staley, Stuart Subject: RE: Bengalla I would proceed as business as usual. -----Original Message----- From: Mcclellan, George Sent: Monday, November 12, 2001 8:59 AM To: Shankman, Jeffrey A. Cc: Price, Brent A. Subject: FW: Bengalla Guys - we need to address this - can we discuss during our lunch meeting today. -----Original Message----- From: Staley, Stuart Sent: Monday, November 12, 2001 5:05 AM To: Mcclellan, George Cc: Bradley, Peter; Maley, Paul Subject: FW: Bengalla George: Details on the cargo we are loading out of Newcastle. Sailing time is roughly 45 days. Cargo to be sold to ARA/German customers, most with payment terms 5 days post delivery. Also - it would help to get an idea of how diificult this exercise will be in the coming months, as we have a couple more loading before year end. Work it, Stu -----Original Message----- From: Miyai, Tark Sent: 12 November 2001 02:12 To: Staley, Stuart; Bradley, Peter Cc: Peters, Jez Subject: Bengalla Stu, I refer to your e-mail to Jez last week and advise you the expected payment value and timing etc. Vessel name: MV "Cotsworld" ETA: 21/Nov ETS: 22/Nov Loading tonnage: approx. 128kmt (9kmt from Stratford and 119kmt from Bengalla) Payment value and timing : Value Timing Bengalla: US$3.3mil(*) 19th (**) Stratford: US$0.2mil(*) 26th * Inclusive of 10% GST ** Bengall has already delivered 49kmt of coal to port and will complete the delivery on 15th. The contract is based on FIS and the invoice weight and quality be determined by the inbound analysis while they take des/dem risk. Because of their concern over our credit Bengalla has insisted on our payment by TT against the presentation of documents. Docs are likely to be presented on 16th or 19th at the latest. The draft contract which Bengalla has confirmed has a provision that the invoice weight is determined based on B/L quantity instead of inbound rail weight if we take 100% of Bengalla coal onto our vessel. If we do that, they can not present their docs until the vessel has compeleted the loading and our payment date would be say 26th instead. Regards, Tark
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