FYI and further handling.
m

---------------------- Forwarded by Mike McConnell/HOU/ECT on 11/16/2000 
02:59 PM ---------------------------


Brad Browning <Brad.Browning@sealogistics.com> on 11/15/2000 11:32:46 AM
To: mike.mcconnell@enron.com
cc:  
Subject: SeaLogistics


Mike,

We met back in the early summer and made a presentation to you, Steve Horn,
and Allan Sommer regarding SeaLogistics.  Since that time, we have completed
a merger with one of our primary competitors, launched our bulk
shipping/e-chartering exchange and now have begun trading on the site.  We
currently have support from charterers representing approximately 10% of the
global petroleum shipping spot market volume and from ship owners
representing approximately 15% of the large tanker fleet.

I saw that Enron announced last month its entry into the freight futures
market for bulk petroleum shipping.  Given this event and our marketplace
momentum, I thought it may make sense to have a more strategic discussion
around possible opportunities between Enron and SeaLogistics.

Please let me know your interest in discussing further a potential joint
opportunity.

Best regards,

Brad

W. Brad Browning
Chief Executive Officer
Phone: 713.751.3000
e-mail: brad.browning@sealogistics.com

SeaLogistics
Open Seas  Open Market TM