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Enron Mail |
jeff
long time no talk on lng shipping matters. during the xmas/new year period we discussed a lot with brad and have come up with some clear ideas on how to proceed to drive quickly a market change in the field of lng shipping. the best bet at this stage looks like mosk the big japanese shipping co . they control directly or indirectly 40 lng vessels. the lng shipping market is so inefficient that about 20 pct of that fleet is either iddle or under utilized. the idea is to team up with mosk to have access to their idle fleet at marginal cost plus small margin. this would enable us to ask them to give us a ship every time we can develop a spot lng cargo : no capital outlay, no take or pay obligation, win /win situ as mosk would then make money (that s their incentive) out of an iddle fleet and we would then gain access to ships enabling us to make money on lng spot cargoes without entering long term comitment on the shipping front . mosk being japanese , in order to jump start the entire thing we need a fax to be sent from high level in enron to high level in mosk prior brad and myself go and meet these guys in tokyo to discuss the idea in more details (at lower level in mosk the idea is known and accepted/tentative date already set last days of jan/early feb for the first meeting) . would you mind to send such a fax along the lines i propose herebelow asap ? thanks in advance . any questions please feel free pierre quote to Mr Iwata , Executive Officer, LNG Division , MOSK cc Mr Hashimoto , Manager, Project Development team, LNG Division, MOSK both on fax number (81) 3 35 87 77 48 Mr Amine Hakim, MOSK London on fax number (44) 870 130 97 37 Dear Sir Enron, through its newly formed Enron Global Market business unit, is targeting the LNG commodity and shipping markets as being key markets for the coming years mainly on account of their growth potential but as well because these markets are ripe for a change in their very nature. MOSK , because of the sheer size of its LNG shipping fleet and Enron, because of its proven ability to make markets change, are uniquely positioned to team up and drive these changes rather than react to them. Enron would like to explore with MOSK if and how both companies could cooperate in the lng field to achieve this. Brad Hitch on the commodity front and Pierre Aury on the shipping front will be leading this efforts on the Enron side and you can expect to have them contacting you very shortly to start these discussions. Yours faithfully signed Jeffrey A Shankman or Mike McConnell tittle (in big letters please ...)
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