Thanks Suzanne. Elio is aware of your concern regarding damage to relations with PDVSA at this critical time.

Paul

 -----Original Message-----
From: 	Clapp, Suzanne B.  
Sent:	Wednesday, October 03, 2001 2:18 PM
To:	Y'Barbo, Paul
Cc:	Mauco, William
Subject:	Freight Rates - West Africa - Med / Caribs

Paul, in comparing freight rates for Med vs Caribs and Caribs vs Caribs (cargo size), I do see Bo's point.  

For smaller lot sizes (8,600 - 11,800 MT), the rates are abt.:
	$50 - $60 W. Africa to Med and 
 	$60 - $80 W. Africa to Caribs

however,

the larger cargoes (20,000 - 30,000 MT) curently moving are as follows:
	$30 - $40 W. Africa to Med and
	$40 - $60 W. Africa to Caribs

So, in comparison to the Med, the additional freight incurred on moving a 8,600 MT cargo to 
Puerto Rico vs a 20,000 MT cargo to the Med is $40.00, or for an 11,800 MT cargo $20.00.

Granted, these are not negotiated numbers, so they could be slightly better.

Let me know your thoughts.

Just keep in mind that PDVSA is there to supply an October cargo at +7.  I would hesitate to purchase from an alternative source lest they back off on other negotiations.

Best regards,
Suzanne