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