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2022 Marine Money Week


Jun. 21st - 23rd, 2022

Investing in Shipping

Today’s Key Themes & Successful Strategies

In this special afternoon session, experienced market players come together to share their knowledge, and strategies, for successfully investing (and deploying) equity in shipping.

12:30 Registration & Networking Coffee – Garden Foyer

1:25 Conference Convenes – Grand Ballroom

1:30 Welcome

Jim Lawrence, Marine Money

1:40 Shipping Markets Outlook

Shipping fundamentals are painting a mixed picture, but there are some common themes across the industry which help shape the outlook.

Adam Kent, Managing Director, Maritime Strategies International (MSI)

1:55-2:15 Shipping Equity Performance: Extraordinary Wealth Creation - What Comes Next?

Jørgen Lian, Head of Shipping Equity Research, DNB Markets

2:20–3:35 Intel from the Front Line: CEOs Share Today’s Opportunities & Challenges

A combination of increased M&A activity, limited newbuilding slots, high asset values, decarbonization regulations and volatile capital markets means that shipowners have some big decisions to make.

2:20 Generating Alpha in Dry Bulk Through Decarbonization

Ulrik Andersen, CEO, Golden Ocean

2:40 LNG - The Fuel of the Future

Karl Fredrik Staubo, CEO, Golar LNG

3:00 Odfjell – A Privileged Glimpse into Industrial Velocity

Harald Fotland, CEO, Odfjell SE

3:20 Crude Oil Tankers – Changing Flows & the Impact on Large Tankers

Brian Gallagher, Head of Investor Relations, Euronav

Ted Jadick, Jr., CEO, DNB Markets

3:35 Finding Value in Shipping Equities: The Analyst Perspective

Sell-side analysts monitor shipping markets and companies 24/7/365. In this session, some of today’s most active arbiters share how investors can find success in this volatile business.

Ben Nolan, Managing Director, Maritime Research, Stifel
Jørgen Lian, Head of Shipping Equity Research, DNB Markets
Turner Holm, Managing Director & Head of Research, Clarksons Platou Securities AS
Tate Sullivan, Managing Director & Senior Industrials Analyst, Maxim Group LLC

Robert Bugbee, President & Director, Scorpio Tankers

4:05 Strategies for Trading Shipping Stocks

Many new investors and traders have joined the shipping sector in search of elevated returns. Nick First and Joeri van der Sman are two standout retail investors who have thrived in the markets over the past 5-6 years by investing and trading a variety of shipping stocks across the cycles. Learn what makes these stocks attractive and how they profit from the markets.

Nick First, Investor
Joeri van der Sman, Investor
Interviewed by
J Mintzmyer, Head of Research, Value Investor’s Edge

4:25 Equity and Shipping: The Investor Perspective

There are a wide variety of different ways to invest in shipping. In this session, investors share their experiences in balancing risk and return.

David Marcus, Co-Founder, CEO & CIO, Evermore Global Advisors
Nicholas D. Stillman, Founder & Portfolio Manager, Olympic Maritime Partners, LP
J Mintzmyer, Head of Research, Value Investor's Edge
Ravi Varghese, Head of Sustainable Investing, Epoch Investment Partners, Inc.
Robert C. Knapp, Founder & CIO, Ironsides Partners LLC

Jim Cirenza, Managing Director, DNB Markets

5:00 Closing Remarks

A Changing Energy Market: Brings Opportunity for Shipping

8:55 Conference Convenes – Grand Ballroom

Matt McCleery, Marine Money

9:10 Opening Remarks from our Partner, Jefferies

Doug Mavrinac, Global Head of Maritime Investment Banking, Jefferies Group LLC

9:20 Adapting & Investing in a Changing World: Andreas Sohmen-Pao, Executive Chairman, BW Group

Today's shipping industry is being affected by a variety of extraordinary macro trends, whether it’s decarbonization, disrupted energy and commodity markets, inflationary pressures or changing trade flows. In this session, a diversified shipowner shares how his organization is adapting and investing in today's complex environment.

Interviewed by
Doug Mavrinac, Global Head of Maritime Investment Banking, Jefferies Group LLC

Global Energy Transportation Markets

No one knows how the energy transportation markets will be affected by the geopolitical events of 2022, but there will undoubtedly be a major impact on the shipping industry.

9:40 Product & Chemical Tankers

These workhorses of the complex global CPP markets provide exposure and insight into economic activity.

  • Decarbonization

  • M&A

  • Capital Allocation

Anthony Gurnee, CEO, Ardmore Shipping Corporation
Jacob Meldgaard, CEO, Torm
Robert Bugbee, President & Director, Scorpio Tankers
Mikael Skov, CEO, Hafnia
Harald Fotland, CEO, Odfjell SE

Marius Halvorsen, Head of Investment Banking, Arctic Securities

10:10 Creating Carbon Credits to Fund Emissions Reducing Vessel Retrofits

Marsoft’s “Green Screen” program provides a turn-key service for shipowners to generate cash from retrofits by creating “Gold Standard” certified carbon credits.

Arlie Sterling, President and Co-Founder, Marsoft Inc.

10:20 Diginex – Sustainability Reporting

Software can play a key role helping companies gather, analyze and improve their ESG & climate data.

Jessica Camus, Global Head of ESG, Diginex

10:30 Captains of Industry: Jeppe Jensen, Founder and Executive Chairman, Celsius Shipping Group

Interviewed by
Michael D. Tusiani, Chairman Emeritus, Poten & Partners, Inc.

Jeppe Jensen is Executive Chairman of the Celsius Group of Companies – one of the world’s fastest growing maritime platforms. After a distinguished career at A. P. Moller-Maersk, Jeppe joined GasLog in 2007 as its CEO. Partnering with former colleagues, he built the business and prepared for its IPO on the NYSE. In 2012 Jeppe left GasLog and founded Celsius Shipping and Celsius Tankers. Together with a number of select blue chip private equity and infrastructure funds, as investor and the leading operating partner, the Celsius Group now manages a diversified fleet of more than 50 vessels including chemical carriers, product tankers, container vessels and LNG carriers.

11:30 LPG – A Steadily Growing Market That Has Recently Been Supercharged

The LPG shipping market was already moving higher during 4Q21 and 1Q22, and now ton-mile demand is rising even faster as Europe turns to the US.

  • How have rates moved over the last couple of months and what is driving the recent moves?

  • What impact is the Russia-Ukraine conflict having on the LPG

  • market?

  • How will domestic US production of hydrocarbons and inventory levels impact the market?

  • Is there enough demand to offset the large VLGC orderbook in the coming years?

  • What are the key supply/demand drivers for the various classes of LPG carriers and various commodities being transported?

Ted Young, CFO, Dorian LPG
Oeyvind Lindeman, CCO, Navigator Gas
Øystein Kalleklev, Executive Chairman, Avance Gas

Øystein Vaagen, Equity Research Analysts, Fearnley Securities

11:55 Investing in Vessel Retrofits: A Key to Cost-effective Emissions Reduction

Retrofits will be a key to complying with the emissions requirements imposed by regulators and charterers.

Ege Akcasoy, Managing Director, Newport Shipping UK LLP

12:05 The Differing Investment Strategies of Multi-Sector “Financial Shipowners”

Financial shipowners are playing an increasingly important role in the market, from helping Limited Partners gain access to well-managed investments to providing charterers with the new vessels they need to reduce Scope 3 emissions.

  • Matching capital and long term charters to build low emissions

  • vessels

  • Providing attractive risk adjusted opportunities for Investors

  • Managing Residual Values when Technology & Regulations are changing

  • Originating new investment opportunities

  • Managing investment risk at a high point in the cycle

Ole Hjertaker, CEO, SFL
Paulo Almeida, Portfolio Manager, Tufton Investment Management
Christoph E. Toepfer, Founder & CEO, Borealis Maritime Ltd.

John F. Imhof Jr., Shareholder, Vedder Price

Hot Topics in Ship Finance & Investment

1:50 Crude Oil Tankers

Crude oil tankers are the bridge that connects producers with refineries, providing a mission critical link for global energy markets. Public and private owners discuss the opportunities and challenges of today’s market.

  • Asset Prices and Charter Rates - The Great Disconnect?

  • Consolidation, Capital Markets & Valuation

  • Digitalization & Decarbonization

Hugo De Stoop, CEO, Euronav
Svein Moxnes Harfjeld, President & CEO, DHT Holdings
Leon Patitsas, CEO, Atlas Maritime
Robert Burke, CEO, Ridgebury Tankers

Erik Helberg, CEO, Clarksons Platou Securities

2:20 In Focus: Peter Winkley, CFO, Algoma Central Corporation

With a 100+ year history, extensive operations on the Great Lakes, a unique fleet of self-unloaders and a growing foreign flag joint venture with Nova Marine Carriers of Switzerland, Algoma Central Corporation (Ticker: ALC.TO) is a company you’ll want to know better.

Interviewed by
Jovi Tenev, Partner, Holland & Knight

2:40 Summit of Leading Global Banks …………plus One!

Lending is the foundation of the shipping balance sheet, and equity investment can’t happen in scale without it, but a two-tier market continues to develop for shipping loans.

  • Balancing Decarbonization with Energy Security

  • Managing Risk at the Top of the Cycle

  • Achieving volume targets in today’s liner-dominated orderbook

  • The Role of ECA

Holger Apel, Global Head Maritime Industries, KfW IPEX-Bank
Vassilios Maroulis, Global Head of Shipping, Citi
Christos Tsakonas, Global Head of Shipping, DNB Bank
Ilias Katsoulis, Head of Shipping, Deutsche Bank
Abhishek Pandey, Global Head of Shipping, Standard Chartered Bank
Ole Hjertaker, CEO, SFL

George A. Paleokrassas, Sr Partner & Global Co-Head Maritime, Watson Farley & Williams

3:15 Networking Break – Garden Foyer

3:45 Using Technology to Meet Corporate ESG Goals

Today’s corporate objectives require not only a rigorous approach to delivering a strong bottom line but also providing tangible actions and investment in to corporate ESG initiatives. Technology can help companies achieve these goals by optimizing current company and vessel operations.

Osher Perry, Founder & CEO, ShipIn Systems
Christiaan Nijst, Director & Co-Founder, Value Maritime
Peter Björkborg, Manager, Sustainability & Transformation, Stena Bulk
Matthias Ritters, Managing Director, Thome Ship Management

David Levy Chief Marketing Officer, OrbitMI Inc.

4:15 The Inaugural Marine Money Decarbonization Investment Study –The Results are In

Harold Malone, Index Committee Member, Marine Money Decarbonization Index

4:25 Leadership, Strategy & Tactics in a Changing Market

Leading Executives share how they are positioning their businesses in today’s market.

  • Decarbonization Strategy – Meeting and Exceeding Expectations

  • M&A Strategy – Today’s Consolidating Market

  • Capital Allocation Strategy – Balancing Dividends & Leverage

John Wobensmith, CEO, Genco Shipping & Trading
Lois Zabrocky, CEO, International Seaways
Søren Meyer, CEO, ZeroNorth
Anil F. Sharma, Founder & CEO, GMS DMCC
Jerry Kalogiratos, CEO, Capital Product Partners L.P.

Doug Mavrinac, Global Head of Maritime Investment Banking, Jefferies Group LLC

8:55 Conference Convenes

Jim Lawrence, Marine Money

Marine Decarbonization: Challenges, Opportunities & Risks for Owners, Charterers, Investors and Lenders

Session Chairperson: David H. Cummins, President & CEO, Blue Sky Maritime Coalition

9:00 Opening Remarks

9:10 CII and the Impact on Asset Values

Simon Rowse, Head of Modelling & Data Science, VesselsValue

9:30 ESG Regulation and Shipping – Worldwide Shifts and How To Benefit From current and developing Best Practices

EU and US SEC ESG regulations are expanding. What are the best ship owning and ship management companies doing to meet these evolving regulations? During this session we will look at the regulations and best practices in response.

Blake Sinclair, Head of ESG, MTI Network USA

9:40 Collaborating to Achieve Shipping Decarbonization

Decarbonizing the shipping industry will require contribution from all stakeholders. From new vessel designs and hardware to low emissions fuels, finance & data.

• Impact of Technologies on Earnings – What Banks and Owners Need to Know

• Owners and Charterers – Defining the Relationship when it comes to Decarb

• The Role of Equity & Debt Financing

• Newbuildings

Kevin J. Humphreys, President, Americas Marine & Offshore, Lloyd’s Register
Geoffrey Gauthier,Manager, Commercial and New Business Development - Shipping (Americas), Shell Trading (US) Company
Andreas Enger, CEO, Höegh Autoliners
Paulo Almeida, Portfolio Manager, Tufton Investment Management
Jan Wilhelmsson, Chief Commercial Officer, Nautilus Labs
Matt Turns, General Manager, Strategy & Business Performance, Chevron Shipping Company

Gaurav Moolwaney, Managing Director, Standard Chartered Bank

10:20 LNG – The Key Fuel for Energy Security and Energy Transition

After a slow start of 2022 the LNG shipping market has now roared back with a market which is even firmer than last year.

  • What are the main drivers for the very strong term market?

  • How much extra LNG growth will be created by European flocking to replace Russian pipeline gas with LNG?

  • With a lot of LNG shipping companies going private, how can investors get exposure to this attractive shipping segment?

  • How is the LNG industry coping with more stringent emissions standards both for ships and the product itself?

Øystein Kalleklev, CEO, Flex LNG
Mark Kremin, CEO, Seapeak
Eduardo Maranhão, CFO, Golar LNG
Dain Detillier, Chief Operations Officer, Q-LNG Transport

Craig Fuehrer, Managing Director, Deutsche Bank Securities

Capital Markets & Credit Markets

11:20 Capital Markets & Shipping – The Opportunity for Investors and Issuers

Shipping has become a star performer in the capital markets, providing phenomenal free cash flow, generous dividends, and an inflation hedge. This has attracted new investors and provided large and smaller owners with more debt and equity products than ever.

  • Market Conditions: Equity and bond markets in USA, Norway, and UK

  • M&A, Going Private and non-Control Strategic opportunities

  • Listing Alternatives: Opportunities for smaller companies on the OTC Markets

Christa Volpicelli, Head of Shipping Investment Banking, Citi
Hamish Norton, President, Star Bulk Carriers
Chris Weyers, Managing Director & Head of Maritime, Stifel
Christopher Eitzen, Co-Head of Shipping, Clarksons Platou Securities
Matt Borys, Treasurer & Head of Capital Markets, Atlas Corporation
Lawrence C. Glassberg, Co-Head of Investment Banking & Executive Managing Director, Maxim Group LLC

Robert Lustrin, Counsel, Reed Smith

11:55 Managing Shipping Risks - Strategies for Owners, Investors and Lenders

From loss of life to pollution incidents, from cyberattacks to vessel casualties to drug smuggling and sanctions busting, risk management is key in the shipping industry.

LT Matthew Zanella, Office of Commercial Vessel Compliance, U.S. Coast Guard
Jonathan Chia,Senior Vice President, MTI Network (USA)

12:10 Credit Roundtable – Sources, Structures, Terms & Ratings

From rated-bonds and Term Loan B to credit funds, Banks, Leasing Companies and various Non-Bank Lenders, there are more sources of credit than ever.

  • Asset Values at Cyclical Highs – How Lenders Can Manage the Risk

  • Decarbonization Regulations and CII Ratings – the Impact on Collateral

  • Interest Rates are Rising – Are Investors’ Absolute Return Requirements?

Nicolas Duran, Partner & Head of Debt Advisory,
Fearnley Securities
Tim Soe, Managing Director, Ascension Finance
Martijn van Tuijl, Managing Director, CIT Maritime Finance
Marjan Riggi, Senior Managing Director, Global Head of
Transportation & Commercial Finance, KBRA

Hoyoon Nam, Partner, Seward & Kissel

An Overextended Supply Chain What to Expect in the Year Ahead

Long taken for granted as being inexhaustible, efficient and inexpensive, the world has learned that the maritime component of the supply chain is fragile – and when it gets overextended, many aspects of the global economy suffer.

2:00 The Container Shipping Industry – The Key Link in the Global Supply

The historically underappreciated container shipping industry has been thrust into the spotlight and achieved stunning financial performance in the last two years thanks to strong demand, underinvestment in

vessels and port congestion. How long will it last?

  • Slowing demand, easing congestion, 25% orderbook – how bad can the market get?

  • Will there be a reshuffling of the alliances and with what implications to the market?

  • Are the newcomers here to stay?

  • Will liners need tonnage providers in the future now they can afford all their own ships?

  • Restocking, diversification of supply chains, vessels slowing down – what will be talking most about next year?

Tasos Aslidis, CFO, Euroseas
Ted Petrone, Vice Chairman, Navios Corporation
William Kostlivy, Head of Corporate Development and IR, Atlas Corporation

Wiley Griffiths, Managing Director, Morgan Stanley

2:35 Global Car Carriers Market

Investors are flocking to car carrier companies which have seen a surge in activity and earnings - and the good times look like they are here to stay for while

  • A booming market short on vessels supply: How long can this last and who are the winners?

  • What is next for car shipping; e.g. EV revolution, trade patterns, new entities, M&A

  • Access to capital in equity and debt markets

  • What are the Car Carrier players doing to adapt to new sustainability requirements

Georg Whist, CEO, Gram Car Carriers
Andreas Enger, CEO, Höegh Autoliners
Josh Shapiro, Executive Vice President, Liberty Global Logistics
Petter Haugen, Analyst, ABG Sundal Collier

Stefan Rindfleisch, Partner, Ehlermann Rindfleisch Gadow

3:05 Dry Cargo – Strong Fundamentals Mean Prolonged Bull Market for Bulkers

Dry cargo vessels play an essential role in transportation of global commodities, including food and energy. The industry has better fundamentals than ever, thanks to a limited orderbook, supply chain disruptions, changing trade flow and decarbonization regulations.

  • The Orderbook & CII – What they mean for Vessel Supply

  • War in Ukraine – Ton Mile Impact on Coal and Agricultural Commodity Trades

  • Comparing Commercial Operating Strategies

  • Supply Chain Disruption – How it’s Effecting Demand

  • Decarbonization & Digitalization Strategy – What Works Today

Hamish Norton, President, Star Bulk Carriers
John Kartsonas, Director, Seanergy Maritime
Tasos Aslidis, CFO, Eurodry
Costa Tsoutsoplides, Chief Strategy Officer, Eagle Bulk Shipping
Mark Filanowski, CEO, Pangaea Logistics Solutions
Carl Ackerley, COO, Grindrod Shipping

Christa Volpicelli, Head of Shipping Investment Banking, Citi

4:00 Faire la Fête TOAST TO SUCCESS

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