To attend our HC Insider Podcast Live Event on the Future of Switzerland as a Commodities Trading Hub on April 16th, please RVSP here: https://www.eventcreate.com/e/hcinsider-podcast-geneva
To sign up for our HC Insider Podcast Live Event in Geneva on the evening of the 16th April please RSVP here:https://www.eventcreate.com/e/hcinsider-podcast-geneva
We are discussing the Future of Switzerland as a Commodities Trading hub
The US Dollar has been the world’s global reserve currency since the Second World War, underpinning global trade and US dominance. However, as our guest argues, its use as a global policy tool such as in sanctions, increasing geopolitical competition and political instability at home is threatening its status. Various countries and blocs are attempting to circumvent dollar trades. Yet, perhaps, the dollar’s biggest threat comes from blockchain and especially Bitcoin. What does that mean for commodities and the world? Our guest is Jonah Van Bourg, former oil derivatives trader at Goldman Sachs and Vitol, crypto and precious metals trader at DRW and now helping to build Onyx Commodities. Jonah is also the co-host of the 1000x podcast.
To see the 1000x podcast visit: https://www.youtube.com/@1000xPodcast
For more on HC Group visit: www.hcgroup.global
You can request to sign up for Mercury Resources newsletter here: https://www.mercuryresources.com/contact-us
In this episode we address that very special commodity Uranium, crucial to the energy and defense industry alike. Nuclear’s role is the energy transition is increasingly recognized. But where will the needed Uranium come from in a more fragmented world?
How is Uranium mined, processed and delivered to the nuclear energy plants. Where is it produced and who controls the supply chain? How is Uranium traded? How has the market fared and what does the future hold. Our guest is John Cash, CEO of Ur Energy (URG), the leading uranium miner in North America.
In this episode, Ilia Bouchouev joins to discuss his new book, ‘Virtual Barrels: Quantitative Trading in the Oil Markets”. What are virtual barrels? How has oil trading been fundamentally changed due to them? What has that meant for flat price, participants and trading strategies? The book is a comprehensive exploration of quantitative trading in the markets and introduces innovative approaches to pricing oil options and advances the theory of storage. Ilia is Managing Partner at Pentathlon Investments, a Senior Research Fellow at Oxford Institute of Energy Studies and an Adjunct Professor at NYU.
You can find copies of his book here:https://a.co/d/c5LKs44
And follow his work here https://www.oxfordenergy.org/publications/energy-quantamentals-myths-and-realities-about-algorithmic-oil-traders/
At the core of commodity trading is forecasting. The last decade of low prices and low volatility has transformed into a market of high volatility and higher prices. How has that changed the nature of forecasting? What does it mean for tools, models and skillsets. And are markets still forecastable? Our guest is Matteo Mazzoni, Director of Energy Analytics at ICIS, an independent commodity intelligence service that provides data analytics in energy and chemicals.
On Tuesday 27th February, HC Group and bp hosted a breakfast and networking event for women in the trading and origination community. The highlight of the morning was a thought-provoking panel discussion featuring industry leaders Carol Howle, EVP Trading & Shipping at bp and Alice Acuña, EVP Trading at CEPSA. Moderated by Laura Berger, Portfolio Director, Liquid Fuels & Chemicals at HC Group, the panel delved into strategies for fostering greater diversity and inclusion within commodity trading. The discussion resonates with this year's International Women's Day theme, "Inspire Inclusion." Let's continue to work together in championing diverse perspectives and contributions, ensuring inclusivity for all women.
Hydrocarbons have been a key driver of geopolitics and globalization over the past century. Even in the past decade, we have seen how US shale production and China’s energy security policies have dramatically changed the world. Now, peak demand and the energy transition is set to upend decades of global policy and economics – with a huge impact on the commodity markets. Will battery metals become the crucial natural resource? Will the electron revolution reverse globalization? We are delighted to have as our guest, Pulitzer Prize winning author and Vice Chairman of IHS Markit, Daniel Yergin at the time. We discuss Daniel’s latest book – The New Map, Energy, Climate and the Clash of Nations and explore his take on the future of hydrocarbons and the impact of energy transition.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Why is it crucial to the energy transition that critical minerals that underpin it develop traded markets? What will it take to get there? And what are the challenges that this future faces - from uncertain policies, to supply chains and geopolitics? On February 22, in London, Benchmark Minerals Intelligence hosted the HC Insider Podcast in front of a live audience to discuss these questions. Our panellists were Guy Winter, Partner at Fasken, Jessica Fung, Head Strategist at Pala Investments, Matthew Ashley, Lead Cobalt Trader at Traxys and Caspar Rawles, Chief Data Officer at Benchmark.
For more on HC Group go to: www.hcgroup.global
Sand has transformed modern civilization. It is the ubiquitous commodity; in our infrastructure, in our industry and even in our personal care products. Yet due to its characteristics, the supply chain is fragmented, disastrous for our environment and often corrupt. And by a tragic quirk of geometry, desert sand is unusable meaning we wreck our riverbeds and oceans to acquire it. In this episode, author and journalist Vince Beiser joins us to discuss sand and its role in the modern world. Vince is the author of The World in a Grain - the story of sand and how it transformed civilization.
CEO of Edge Petrol, Gideon Carroll joins Enco to discuss the UK's Pumpwatch Scheme proposed by the government. What is in it? And what will the impact be on consumers, fuel retailers and wholesalers?
For more on Edge Petrol visit https://www.edgepetrol.com/
For more on Enco Insights visit www.encoinsights.com
In this episode, we return to critical metals and how their fortunes are affected by the energy transition, technology and geopolitics. To tell that story we are focusing on three in particular: Neodymium, Gallium & Hafnium. Each has a key role in the modern world with demand set to grow but with challenges markets and policy makers are grappling with. Our guest is Ellie Saklatvala, Head of Non-Ferrous Pricing at Argus Media, the leading independent pricing agency.
The energy transition requires the mobilization of vast amounts of capital. It affords huge opportunity but also risks. The technological pathways, policy support and geopolitics are uncertain and volatile. How can these risks be managed? And opportunities be captured? In this episode, we go into the world of private equity and the thinking and strategies needed to participate in the most profound economic restructuring in modern times. Our guest is John Skrinar, partner at Cresta Fund Management, a mid-market infrastructure fund, investing in the energy transition.
To find out more on HC Group visit: www.hcgroup.global
Information has always been the lifeblood of commodities trading. Today, the sources of data that provides the information and insight have grown exponentially - as has its value. So much so that companies are viewing data as a strategic asset, transforming how they value, collect, manage, and protect it. And once that mindset is in place, it can be transformative. To understand more about this key insight and journey, we are joined by Jason Vogt, Managing Director of Cargill Data Asset Solutions.
To find out more about Cargill and Cargill Data Asset Solutions visit: https://www.cargill.com/data-asset-solutions
For more information and to RSVP for our upcoming HC Insider Podcast Live event on Feb 22 in London visit: https://benchmarkevents.benchmarkminerals.com/TheTradingFutureForCriticalMinerals
In this episode, Doomberg joins us to discuss their most recent analysis and controversial views of the oil and commodities markets. Why Peak Oil is unlikely to happen and oil will remain cheap and abundant. How US oil production has changed the energy map and the in turn its role in global security – a gap which China is planning to fill. And how China’s grip on critical minerals for the energy transition is tightening at the expense of its environment – “Geopollutical Warfare”. Doomberg runs the leading paid Substack which is focused on energy, finance and economics (his voice is modulated to match their Green Chicken avatar).
For more information on HC Group go to www.hcgroup.global
For more information on Doomberg and content go to https://doomberg.substack.com/
Singapore has been a leading commodities trading hub for decades. Its strategic location, strong governance and connectivity have spurred the growth of a rich ecosystem of global trading firms in the city-state. How is Singapore navigating the changing world of commodities? Amidst deglobalization, digitalization and the energy transition, how is Singapore staying relevant and keeping ahead of the curve? And how does this impact its long-term strategy and talent development plans? Our guest is Lee Pak Sing, Assistant Chief Executive Officer of Enterprise Singapore, the Singapore government agency that champions enterprise development and supports the growth of Singapore as a hub for global trading and startups.
In this final bonus episode of Enco Insights, CEO Bill Read discusses the history of expert networks, the genesis of Enco Insights and its aims and goals.
For future episodes of Enco Insights, please follow the podcast on your preferred platform.
For more information on Enco please visit www.encoinsights.com
Our 2023 Annual Review is published and ready for download. The review contains key trend and market moves within the energy & commodities world alongside data driven analysis and editorials.
Download here or on our website:
https://www.hcgroup.global/hc-insider/market-reviews/access-annual-review-2023
What does the future hold for the agri sector and the food our plates? And what does it mean for the sector’s participants and investors? Robert Berendes, Executive Partner of Flagship Pioneering and longtime industry executive and investors sets out his views on the paradigm shifts the sector is going through. How has the last four years changed the sector and impacted investors? And what are the surprising views Robert holds on the availability of food, land and changing nature of commodity trading.
To find out more on HC Group visit: www.hcgroup.global
To find out more on Flagship Pioneering visit: https://www.flagshippioneering.com/people/robert-berendes
To start the New Year, in this episode we review the oil markets in 2023 and the likely major themes and trends in 2024. Why were forecasts for 2023 mainly wrong – 100$ oil never materializing? What were the major market, policy and geopolitical events that drove prices and what do these herald for 2024? Will the volatility continue? What are the trends in production, refining, shipping and consumption? Our guest is David Wech, Chief Economist for Vortexa, the ship tracking and data analytics firm
This week battery metals expert and CEO of Benchmark Minerals Intelligence joins Enco Insights to provide a quick view on Graphite, the indispensable anode material in the energy transition.
The UN predicts global population will peak sometime in 2080s around 10 billion people. Companies, countries (think global social security schemes) and the commodities sector predicates forecasts on these assumptions. Yet, there is a growing body of evidence that these assumptions are far too optimistic and that not only will global population peak earlier but will subsequently decline much more rapidly. Already much of the West and Asia is in decline and replacement rates of falling at an accelerated pace. Is this a long-range risk no board rooms are talking about? Our guest is analyst, futurist and swine consultant Todd Thurman who has become a global authority on the subject on how it will impact the commodities world.
In this episode we review the major themes and events for the Natural Gas markets in 2023 and what that might herald for 2024. The gas markets and LNG are now the crucial global energy balancer. What happened in 2023? What were the key market, regulatory and policy actions and how did countries and participants fare? What are the key factors and milestones to look at for 2024 and beyond? Our guest is Anne-Sophie Corbeau, Global Research Scholar at the Center on Global Energy Policy at Columbia University’s School of International and Public Affairs.
Enco Insights is a global expert network dedicated to the energy & resources sector.
You can find out about Zodia Markets here:
Global food production faces the twin challenges of meeting growing demand while achieving that both sustainably and lowering carbon emissions. In this episode we dive into what this actually means . What is the impact of agriculture on carbon emissions and how does the sector impact the environment? How are farmers, processors, traders and shippers building sustainability into practices and strategy? What are the policy frameworks and incentives globally? And how are competitive advantages being created through this? Our guest is Robert Horster, Global Sustainability Director Agricultural Supply Chain and Head of Environmental Markets for Cargill.
Who prices Lithium today and who will trade it in the future? In this episode we dive back into the Lithium supply chains. What forms of Lithium are traded and how are contracts structured and priced? What efforts are the exchanges making to create liquidity and risk management tools and will the trading houses of today dominate Lithium trading in the future? Our guests are Simons Moores, founder and CEO, and Caspar Rawles,Chief Data Officer, at Benchmark Minerals Intelligence, the independent price reporting agency and consultancy focused on battery metals.
This week, journalist and author, Rob Copeland joins to discuss his explosive best-selling book: The Fund: Ray Dalio, Bridgewater Associates and the unravelling of a Wall St Legend. Long seen as the paragon of systematic trading, Bridgewater grew to the largest hedge fund in history. Alongside that, its founder, Ray Dalio - a one-time commodities trader - a business legend with his best-selling books and his devotion to his “Principles”. Rob’s book exposes a very different fund and leader. We dive into the unique culture and management style Ray created which includes 24hr surveillance, inquisitions over bagels and very public take downs. And also how exactly the fund invested. Rob is a finance reporter for the New York Times.
Wind & solar have had a tough year. Rising costs, disrupted supply chains, market economics and weather events have all contributed to the woes that have seen projects parked and stock prices fall. Yet, renewables are crucial to the energy transition and can be cost competitive and profitable in many cases. Just what does it take to build projects and companies that can weather this volatility? How can the sector build resiliency and robustness? Julie McLaughlin and Elizaveta Malashenko of Alvarez & Marsal join us to diagnose the challenges and identify the pathways forward for the renewables sector as outlined in their latest white paper released today: https://www.alvarezandmarsal.com/insights/renewables-imperative-discipline Julie is Managing Director of the US Energy Practice (previously our guest in episode 94 on the still upcoming SEC regulation on climate disclosures: https://podcasts.apple.com/us/podcast/the-hc-insider-podcast-conversations-in-energy/id1512721188?i=1000559567015) and Elizaveta is a Senior Director focused on the energy transition.
The commodity trading world is adjusting to greater volatility and higher capital costs. Individual companies are needing to increase their market and commodity footprints to navigate the energy transition while many are building trading capabilities for the first time. Commodity Trading Risk Management software, the backbone of any trading platform, needs to keep up. The wrong choice can be very costly. How have CTRM’s evolved over the last 5 years in capability, price and implementation? Sameer Soleja, CEO of Molecule, one of the most modern, cloud based CTRM, joins us to discuss.
You can visit Molecule at: www.moledule.io
and HC Group at www.hcgroup.global
For more episodes on CTRM listen to
The Dark Cloud: The hidden costs of a digital world with Guillaume Pitron
What is the energetic consequence of a simple ‘like’ on social media? Or a zoom call? Modern technology is underpinned by a very real material and energetic infrastructure that is putting immense strain on energy production and the world’s natural resources. 5G and AI have supercharged this consumption. Yet, technology companies have been successful in creating a “dematerialized” perception. The energy transition and sustainability emphasis has focused largely on the energy & commodities world while tech is seen by many as clean and green. It is not. This is the story our guest, investigative journalist and author, Guillaume Pitron has told in his book “The Dark Cloud” published in English this year by Scribe.
In 2023, Renewables have struggled with rising costs and higher interest rates. Alongside, there is a growing palpable shift in the perceptions, and expectations of nuclear power’s role in the energy transition. Is this a structural shift? Natural gas remains the bridge fuel but can shale production keep up with growing US exports and if not, what will that mean? in this episode, Adam Rozencwajg, Managing Partner of Natural Resource investor Goehring and Rozencwajg rejoins us to discuss the structural shifts and shifting sentiments in energy in 2023 and what 2024 may hold in store.
You can view Goehring & Rozencwajg's research here:https://www.gorozen.com
You can visit HC Group here: www.hcgroup.global
In this episode we return to Lithium – the critical metal of the electron age. The supply chain is both constrained and concentrated, leading to a rush to find suitable deposits worldwide. However, its not just quality of deposit that matters but type, geography and the political and social environment in which it sits. In this episode, we review the Lithium Triangle, the rich swath of brines that cover Bolivia, Chile and Argentina. How and why has the Lithium Triangle acquired its name? What role will it play in the energy transition and which of those three countries provide the best opportunities? Our guests are Gabriel Rubacha and Taj Singh. Gabriel is now the CEO and Chairman of NOA Lithium Brines, a Lithium exploration company focused on the Triangle. Gabriel was previously on the board of directors at Lithium Americas Corp. Taj is the former CEO of NOA and now President & CEO at Gold Line Resources Ltd.
Visit NOA Lithium Brines https://www.noalithium.com//
Visit HC Group www.hcgroup.global
Hydrogen made in a steam reformer, grey hydrogen, is responsible for 3% of global greenhouse emissions yet it is embedded in many industrial applications. More broadly industry accounts for some 10% of emission. Switching industry to green hydrogen would make a huge difference. Yet, green hydrogen remains rare. The costs in both the operating expenses and capital expenditure means implementation is extraordinarily difficult, especially in a high interest rate environment. What are the challenges, what does the future hold and how could the costs be lowered? Our guest is Chad Mason, CEO and founder of Advanced Ionics, a company focused on the clean future of industrial hydrogen.
Visit Advanced Ionics here: https://advanced-ionics.com/
For HC Group visit www.hcgroup.global
Download here:
https://www.flipsnack.com/hcinsider/q3-2023-market-review/full-view.html
To sign up to receive the review in future quarters, along side our other thought pieces, interviews and analysis in the sector visit:
https://www.hcgroup.global/hc-insider
You can also email me at pchapman@hcgroup.global with any specific questions and I can direct you internally to best contact.
Cotton is a commodity that is familiar to all of us. However, the market for cotton is not. How and where is it produced and traded? How is the cotton market being impacted by de-globalization, digitization and the energy transition? Who are the players and what can the cotton market tell us about the broader economic cycle? Our guest is Crawford Tatum, veteran cotton trader at some of the largest houses and now Director of Economic Research and Market Risk at the Staple Cotton Cooperative Association.
HC Group is a search firm dedicated to the energy & commodities commodities sector with 8 offices around the world. For more information visit www.hcgroup.global
Combining energy storage and renewables tackles intermittency and synchronicity (the famous duck curve) and unlocks the economics and trading opportunities. However, implementation is challenging. The technical and engineering challenges around which battery and the transformers required to connect to the grid (currently on extended back log). The contracts and commercials are challenging? How will manage and profit from the trade? And both of these depend on location and regulatory environment. Joining us to discuss the complexities and opportunities around combining energy storage and renewables is Brian Knowles, Director of Energy Storage and Flexibility at Pexapark, the PPA pricing and consulting firm. Brian has a unique background pioneering the deployment and commercialization of energy storage with wind and solar projects in Europe and the US.
HC Group is a global search firm dedicated to energy & commodities markets. Visit www.hcgroup.global for more information and contacts for Paul Chapman
Who really prices oil? Traders? OPEC? Financial Flows and hedge funds? The oil markets are far different than two decades ago. They are increasingly financialized opening trading to a far greater number and variety of participants. Now, as in equities, sentiment can drive markets in the short term irrespective of the physical flows. On September 14 in London, HC Group and Onyx Capital hosted a live podcast event to address just this. Kurt Chapman, Director of Levmet, Saad Rahim, Chief Economist of Trafigura, Tor Svelland, CEO and Founder of Svelland Capital, Savvas Manoussos and Greg Newman, CEO & Founder of Onyx Capital joined Paul Chapman to discuss. We also celebrated Greg's new book - "The World of Oil Derivatives". A fantastic primer for financial trading in the oil markets.
HC Group is a search firm dedicated to energy & commodities sector. For more information visit www.hcgroup.global.
Taiwan’s energy security is on a knife edge. Energy Transition policies have increased reliance on fossil imports while also increasing CO2 emissions. At the same time, China’s growing belligerence poses an existential threat. Taiwan is crucial to the global economy given its centrality in semi-conductors, itself an ever power-hungry industry. How did Taiwan end up in this state? What were the policies and why have they had limited success? What would a blockade mean for Taiwan? Is the upcoming election likely to change anything? And what lessons can the world take from Taiwan? Our guest is energy journalist and Taiwan expert Angelica Oung, Founding Editor at Taiwan Offshore Wind Unredacted. HC Group delivers retained search, intelligence and advisory for energy and commodities markets. Learn more: hcgroup.global/”
Number Go Up: Inside Crypto’s Wild Rise & Staggering Fall with Zeke Faux
On the day of publication, Bloomberg investigative reporter Zeke Faux, joins us to discuss his new book Number Go Up. Zeke followed Crypto’s wild ride with a ring-side seat including being inside SBF’s penthouse as the fallen crypto king faces his imminent arrest. In 2021, all the numbers went up. Billionaires were minted overnight. Crypto would change the world; former presidents and prime ministers lauded SBF as the next Steve Jobs, and stable coins would forever change banking. Commodity traders set up crypto desks. And then it all crashed. Will history view crypto as the world’s biggest ever bubble - the mother of all madness of crowds - fueled by low-interest rates and bored investors stuck in lockdown? And what about those stable coins like Tether… has the real crash yet to come? Zeke Faux is an investigative reporter for Bloomberg Businessweek and Bloomberg News. He’s a winner of the Gerald Loeb Award and the American Bar Association’s Silver Gavel Award and a National Magazine Award finalist.
Chip War: How semiconductors became the new oil with Chris Miller
Semi-conductors, microchips, are the new oil - the scarce resource on which the modern world depends. Today, military, economic, and geopolitical power are built on a foundation of computer chips. This has only accelerated with the emergence of AI. Yet, the supply chain is incredibly concentrated with just a handful of countries and companies dominating. As with oil in the previous century, chips sit at the center of geopolitics, great-power rivalry and trade, especially between the US and China. How did chips become some crucial and their supply chains so concentrated and what does it mean for all our futures? Our guest is economic historian Chris Miller, author of Chip War - The Fight for the World's Most Critical Technology, the New York Times best seller.
Commodity Supply Chain Challenges with Anton Posner
COVID is in the rear-view mirror, yet the commodity supply chains remain volatile and uncertain. In this episode, we catch up on the state of bulk commodities shipping and logistics. 2022 generated unprecedented returns, particularly in the container market. Why and what has happened since? How are traders and logistics providers managing high interest rates, war, enormous scandals involving missing inventory and the uncertainty wrought by the energy transition and decoupling with China. What are the routes and tools in bulk commodities freight? Where are freight rates now and where are the headed? Our guest is Anton Posner, Founder and CEO of the Mercury Group whhich offers logistical expertise for the shipment of dry goods (both dry bulk and break-bulk) by barge, train, truck or vessel, particularly for the metals sector.
Biofuels on the Edge with Walter Cronin
Biofuels are key to decarbonize transportation in the energy transition. However, poor harvests, weak regulatory support, war and inflation all threaten the key grain and oilseed feedstocks. Money is flowing into processing and infrastructure, but have the risks been priced in? This year only Brazil’s bumper crop of soybean has saved global supply after atrocious harvests in Argentina and a US crop on the brink of disaster only saved by early August rains. What happens if Ukraine harvest is further degraded or, unthinkably, ceased due to the use of tactical nukes? On the regulatory side, has EPA undermined the US administrations goals around biofuels? What happens to biofuel production if we face a global harvest shortage? In this episode, investor and biofuels expert, Walter Cronin returns to discuss the state and future of biofuels.
Rice is one of the most important global food sources, providing nearly a one fifth of global calorific intake. Yet the market for rice is relatively opaque with a small futures market. Much of the rice produced is consumed locally and much of global trade is at the subject of governmental control. Rice is also at the mercy of an increasingly volatile weather and climate. India recently announced an export ban on non-basmati rice, roiling global markets. Where is the rice market headed and what are the trading opportunities? Here to discuss are Lewis Williamson and Marvin Coleman, Managing Directors and Regional Co-Heads of Commodities at HTS Commodities, a division of Hilltop Securities. Their business is one of the leading full-service providers in the rice futures and options market.
Ice: The Rise and Fall of a Hot Commodity with Amy Brady
A hundred years ago, ice was the one of the important commodities and most powerful industries in the world. A history filled with merchant kings, monopolies, traders and short squeezes. And cocktails. And then it all melted away – another rapid transition. In this episode, author and historian Amy Brady joins us to discuss the surprising history of ice. How the industry was created and importance to life, the economy and culture in American history. And its rapid decline in the wake of technology and development. Amy’s most recent book is Ice: From Mixed Drinks to Skating Rinks--a Cool History of a Hot Commodity published by Random House, June 2023
Whale Oil: The Original Energy Transition with Eric Jay Dolin
In 1859, illumination throughout the major metropolises of the West was powered by whale oil. Whale oil was at the center of international trade (and trade disputes). Prices were at an all time high and great fortunes had been made. Yet, in that same year, Edwin Drake started the oil rush in Titusville, Pennsylvania…and every thing changed. Quickly. What lessons are there in this first energy transition in the modern era? In this episode we dig into the history of whaling and whale oil. Our guest is historian Eric Jay Dolan, author of Leviathan: A history of whaling in America. Eric takes us through the history of whale oil. A history of the first commodity cartels (they failed too), extraordinary entrepreneurs, boom and bust, environmental exploitation and Benjamin Franklin’s taste for Spermaceti Candles.
Walls, Bridges & Dilemmas in the Energy Transition with Eirik Waerness
Eirik Waerness, Chief Economist of Equinor, the global energy major, joins us to discuss their Energy Perspectives 2023- an independent scenario analysis describing the development paths up to 2050 for the world economy, energy markets and energy-related greenhouse gas emissions. What are the blockages, accelerators and dilemmas the world faces in trying to hit 2050 goals? Have we already blown past 1.5c? A clear-eyed, sobering look at the challenges the world faces in reducing greenhouse emissions and the solutions needed
Changing Battery Chemistries & Lithium Iron Phosphate (LFP) with John Passalacqua and Isobel Sheldon
The Lithium-Ion battery is the fulcrum on which the energy transition hinges. However, its chemistry continues to evolve. The Nickel-Cobalt variant has led the charge in EVS, primarily due to the singular focus on range. However, cost, raw materials, safety and utility has led many manufacturers towards Lithium Iron-Phosphate (LFP) batteries to meet the mass adoption needed to reach decarbonization goals. In this episode, we do a deep dive on battery attributes, chemistries and markets. And if LFPs will dominate, what does that mean for the battery supply chain and the mineral producers its needs. Our guests are Isobel Sheldon OBE, a leading authority in batteries & EVs and John Passalacqua, CEO of First Phospate Corp (PHOS:CN). First Phosphate Corp is positioned to be a leading supplier of the Phosphate needed in this evolution within the revolution.
Visit HC Group here
First Phostphate Corp here
Back to Ag Futures with Scott Irwin
In this episode, we are joined by a global leader in the field of agricultural economics. His research on commodity markets is widely cited by other academic researchers and is in high demand among farmers, market analysts, traders, and policymakers. We are discussing the future and history of agricultural futures and his book, “Back to the Futures: Crashing Dirt Bikes, Chasing Cows, and Unraveling the Mystery of Commodity Futures Markets “. We cover Scott’s work and life in agri futures. How ag futures work, how they have developed and what might their future hold.
Volatility with Stephen Roseme
The commodity markets have had a period of unprecedented volatility. Furthermore, the energy transition is likely drive volatility over the long-term as infrastructure, funding and markets all degrade across hydrocarbons. However, volatility also drives opportunities of the trade floors who can manage it. What is volatility? What are its sources? How is it changing? And how are the tools and technologies changing that are needed to manage it? What does it mean for traders and their skillsets? Stephen Roseme, CEO and founder of the The Bridgeton Group returns to discuss.
A lot has changed in the last three years when it comes to investing in the energy transition. Inflation and rising rates have altered economics, the tools and the returns expected. ESG is no longer the all-conquering paradigm sweeping all theses before it. The complexity of delivering the transition (and the trade offs) are better understood. Western governments are far more focused on securing the critical raw material supply chains that will be required. War & deglobalization have sharpened competition and increased volatility. To talk about all this and how and why he is investing in the energy transition is John Dowd, former Fidelity Portfolio Manager over natural resources, and now, CEO of GoGreen Investments, a SPAC focused on the energy transition.
The EU has set ambitious goals to decarbonize, especially in transportation, accelerated by the geopolitical necessity to reduce reliance on hydrocarbons. However, the minerals and even technological know-how for the electron economy especially, sits largely outside the region. The also face stiff competition for both, especially from the US - supercharged by the IRA. How is Europe planning to compete? What are its proposed policies and goals? What is the Critical Raw Materials Act? What is the role of the commodity traders - all largely domiciled in the region. Our guest is JuliaPoliscanova, Director at the Transport & Environment think tank in Brussels and atransport, batteryand policy expert.
Food inflation is persistent globally, even after the underlying commodity prices have dropped. What is going on? Will food prices normalize and if so when? Has something structural happened? And what is the outlook for the softs and grains markets in a turbulent world both in trade and weather. Is China demand growing and what does El Niño mean for crops? What does high food prices mean for global economic health and stability? Our guest is Kona Haque, Head of Research for ED&F Man, the world's biggest softs trader.
On June 1st, in front of a live audience in London, we recorded a special live podcast to celebrate the launch of Adi Imsirovic's new book: Brent Crude Oil - the genesis and development of the world's most important benchmark. The panel consisted of some of the leading figures in the past and current development and trading of Brent. What is Brent? Why is it so important? And what does the inclusion of the WTI mean for it? Adi along with Colin Bryce, partner at Energex, Kurt Chapman, board member of Zenith and Paul Horsnell, head of commodities research at Standard Chartered discuss. To be invited to future events please sign up to HC Insider at www.hcgroup.global
Commercial Real Estate, Rates & Renewables with Eugene McGrane
The Commercial Real Estate market is in trouble. High interests rates & low occupancy are stressing central business districts across the world. Meeting the demands of the energy transition is an added challenge. Retooling our energy infrastructure requires land for new grid infrastructure – often in urban coastal areas looking to import power from wind. However, this layer of deep complexity in renewables development is often overlooked, especially as European energy companies expand in the Americas. Today we look at the real estate angle of the energy & commodities world, as well as get an update on just how bad the commercial real estate sector is. Our guest is Eugene McGrane, MD at the global real estate firm Cushman & Wakefield, who heads the offerings to energy & renewables clients.
Coal Trading with Hayn Park
Coal demand reached an all-time peak in 2022. Prices reached levels not seen for over a decade. China is permitting two new coal fired power plants a week and Germany is burning lignite to meet its power demand. Traders reaped huge rewards trying to connect a fragile, disrupted, supply chain. As the world strives for the energy transition, removing coal from our power mix is vital. Financiers and public companies have made firm commitments to this. This has pushed the coal supply chain into ever more private hands and into a more opaque and volatile arena. What is the coal market? What is its structure? How is it traded? And where is it headed. Our guest is Hayn Park, head of European energy trading at DRW and a veteran energy trader.
In late April, we brought together a panel of leading thinkers and executives from across the sector to discuss the impacts of rising interest rates on commodities in front of a live audience in New York City. This inaugural Live HC Insider Podcast event was hosted by HC Group and Brown Brothers Harriman. Where are rates headed? What does it mean for prices, traders, producers, investment and the energy transition? Our panelists were Roland Rechsteiner (Partner, McKinsey), Lewis Hart (Managing Director, BBH), Dwight Anderson (Founder, Ospraie Management), Mark Kristoff (CEO, Traxys), and Adam Rozencwajg (Managing Partner, Goehring & Rozencwajg). The panel opened with an update on rates from Scott Clemons (Chief Investment Strategist at Brown Brothers Harriman).
Commodities in a Deglobalizing World with Jeremy Shapiro
Commodities have been at the heart of globalization. Traders roamed freely and commodities priced to the marginal cost of production. Since the mid-2010s that started to change politics moved toward populism and nationalism and geopolitical competition heated it. Today, traders have to navigate a sanction minefield and the weaponization of the dollar. Global trade is fragmenting into blocks. What does this mean for the sector, the talent and the dollar itself. Our guest is Jeremy Shapiro, research director at the European Council on Foreign Relations and previously the senior advisor to the assistant secretary of state for Europe and Eurasia at the U.S. Department of State and a fellow at the Brookings Institution
Commodity Indexes with Tim Kramer, JC Kneale and Preston Peacock:
Commodity indexes have grown in popularity among institutional and private investors, tracking the prices of a diversified basket of commodities to generate returns and hedge inflation, with current allocations totaling over $1.6 trillion in assets. Despite their acceptance, many investors are unsure of how these complex indexes are constructed, how returns are generated, and who ultimately determines the commodities they comprise. Furthermore, the future of these indexes remains a topic of discussion. To gain a deeper understanding of these indexes, Tim Kramer, founder and CEO of CNIC Funds LLC, is joined by Preston Peacock, Senior Director of ICE Data Indices, and J.C. Kneale, Head of North American Power and Gas Markets for ICE, to discuss the history, evolution, construction, uses, and potential future of commodity market indices, including their new power index designed for the energy transition age.
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A View From the Top with Saad Rahim
In this episode, Saad Rahim, Chief Economist of Trafigura, the global commodity trading house, joins us to give an overview on the current state of the commodities markets. China is open for business. OPEC is cutting production. Is Oil poised for a big rise? Are cyclical markets over...replaced by a more volatile, less efficient, price-spiking and unpredictable paradigm? Where will metals headed with continued supply constraints? Is Copper the ultimate transition metal and what does energy transition mean for the traders?
Powering Heavy Industry with Manoli Yannaghas
Heavy industry accounts for one third of power consumption. Many leading industrials and miners have ambitious targets to reach net zero. While renewables deployment capture headlines, what about efficiency? What about demand management? In this episode we dive into how new technologies can help companies understand their power consumption and make significant savings through behavioral and process changes. Our guest is Manoli Yannaghas, founder and CEO of Voltvision. Manoli has spent 20 years managing operating mines and mineral exploration projects in Africa and South America. He has also acted as CEO of a publicly listed mining company, as well as founding a number of small fast-growth technology companies operating in the mining, energy and renewables space. There is currently an opportunity to invest in VoltVision’s Series A funding round. If you would like to know more, please email investment@hcgroup.global
How long will the energy transition take? The challenges are underestimated. Energy consumption will continue to expand as emerging economies develop, and as new classes of technologies emerge (not least AI where its inherent power consumption is an order of magnitude more than conventional computing). The switch from fuels that are mainly liquids and gases to hardware-intensive technologies like wind, solar and batteries, requires enormous quantities of materials; the supply chains for which are already stretched. And if the energy transition is to be delayed, what should we be doing to prepare and are there other options than those being chased now ? Our guest is Mark Mills, author, investor, policy advisor and senior fellow at the Manhattan Institute. Mark’s latest book is “The Cloud Revolution: How the Convergence of New Technologies will Unleash the Next Economic Boom and a Roaring 2020s”
Hedge Funds & Commodities with Tor Svelland
In this episode, we return to hedge funds and their role in commodities for investors, market participants and talent. Why is money returning to hedge funds with commodities focus or exposure? What does it take to succeed in the volatile sector? What tools and experience do hedge fund traders need? And is there anything structural that means this time hedge funds will stay dedicated to the space? Our guest is Tor Svelland, commodity trader and founder of award-winning hedge fund Svelland Capital.
The Pathways to Decarbonize Transportation with Michael Barnard
In this episode, we take the long view of decarbonizing transportation. How will cars, trucks, trains and planes move in 2050? Which technologies will win out and why for each of these modes? Which countries and companies will lead these wholesale revolutions and which bets look safest? What are the pathways available? What criteria can investors and participants use today to evaluate decisions? Our guest is Michael Barnard, decarbonization strategist, futurist and author..
In this special episode, I provide notes, quotes and my take away from the FT Commodities Summit in Lausanne, Switzerland. Starting the day Credit Suisse was taken over by UBS, the conference was held against a backdrop of financial turmoil and geopolitical fractures. What do the leaders of the commodities sector see as the major opportunities and challenges, after a year of record profits and the sector itself becoming central to global strategic interests and energy transition. What are the price predictions and the nature of the trading environment for the rest of the year. This is one of the few events where the CEOs of all the trading houses meet and publicly discuss their role and views on the market.
Decarbonization is crucial to tackling climate change. Yet, human history has been a story of increasing energy consumption and hydrocarbons unleashed global development. Today, hope and investment is pinned on a suite of alternatives, especially wind and solar. The economics work. However, do the energetics? Our guest has spent a decade looking at the energy return on investment (EROI) and his work and insight presents a stark contrast and challenge to our current direction. Adam Rozencwajg is Managing Partner at Goehring & Rozencwajg, a commodities and natural resources fund with over 30 years of track record and holds a global following for their research (available here http://gorozen.com/)
Edward Chancellor, financial historian and journalist, returns in this special update to discuss the unfurling banking crisis. We discuss the common thread across the financial stresses around the world is rising interest rates to tackle inflation. Should central banks be intervening? What has the Fed done with SVB? Are the events with Credit Suisse and the US banks the start of a broader financial crisis? What does this mean for rates going forward? How can the world tackle its debt and what does it mean for commodities?
Paul Posoli was at the forefront of energy trading through a 20 year career. In this episode, we follow Paul’s story has he joins Enron, builds a trading desk for a merchant and an investment bank, mapping through his career the peaks and valleys this sector has had. At the heart of that journey is Paul focus on people and talent. And it is that focus that led Paul to join Cristo Rey, a non-profit Jesuit high school educating students with and from limited economic resources, as President (https://www.cristoreynetwork.org). That journey led Paul to launch CareerSpring, a non-profit platform for connecting first generation college grads to employers unlocking systemic inequalities that enriches society and employers. HC Group is proud to be partners and you and your organization can help support CareerSpring (https://careerspring.org/). An inspirational story of leadership, resilience and profound empathy.
On March 8th 2022, Nickel prices spiked 100% to $100,000 a tonne in a matter of hours, triggering billions of dollars in margin calls and threatening the very existence of the exchange. The LME took the unprecedented, and controversial, step of cancelling all trades made that day. A decision which enraged some but saved the exchange and the shorts, creating a cascade of legal battles continuing to this day (we recorded this episode prior to the UK’s FCA announcing an official investigation into misconduct). What started the crisis? Who was Mr Big Shot? What were the events that surrounded the run up in prices and how did it unravel the structure of the LME? Did the LME pose a systemic risk? What has been the fall out? Our guest is Jack Farchy, Senior Correspondent for Commodities at Bloomberg, who takes us through the crisis.
In 1993, Metallgesellschaft, the German Global Industrial conglomerate lost $1.3bln in oil derivatives trading through its US subsidiary MGRM. The details leading up to their implosion and the subsequent actions taken by their CEO, trading counterparties and their lending banks have been hotly debated by academia, business school students and their contemporaries in the markets ever since. In this episode, as we approach the 30th anniversary of one of the largest and most famous financial calamities in the oil trading markets, we review the key moments and, uniquely, draw on viewpoints from industry veterans present at the time: What really happened and why? What did the academics miss and what, if anything, has been quietly hushed? What lessons were learned, if any? Joining us is Kevin O’Reilly, commodities investment banker and commodity markets theorist.
Tantalum… a story of insatiable demand with Hadley Natus
You probably have not heard of Tantalum. However, like the Greek mythological figure it is named after, the world is developing a need for it which is not easily satisfied. The supply chain of Tantalum also poses some fundamental questions on the supply chain of the electron economy. Tantalum is in our cell phones, TVs and EVS due to its remarkable properties. However, it is produced by artisanal miners in Congo. In this episode we discussed Tantalum’s role in energy transition, its supply chain and solutions to meet the world’s growing demand in an equitable way. Our guest is Hadley Natus who provides us a clear-eyed, insiders view on the Tantalum trade. Haldeyis the Chairman of Tantalex and CEO of Afrimet.
Oil Supply & Demand in 2030 with Joel Couse
The energy transition will not be an easy path for a world built on hydrocarbons. The demand picture for the next decade is easier to divine than supply. To meet continued demand, more oil needs to be discovered and produced and more refineries are needed to transform it into the products we use. But who will invest? Who will finance? And who will do it. What oil will be drilled and what will gasoline cost in 2030? What will be the consequences of disruption to this finely balanced market. Our guest is Joel Couse,Special Advisor - Energy Markets and Security at the IEA. Prior to the IEA, Joel was Chief Economist for TotalEnergies
The Case for Sustainable Aviation Fuel with Steve Mawer
Growth in commercial air travel is unrelenting and so its carbon footprint - worrying airlines, passengers, and policy makers alike. Yet, air travel is the hardest to abate sector. Heavy batteries and decades long development cycles mean air travel won't be electrified any time soon. This is where SAF steps in. What is it? Where is it produced and what is the demand and policy support for it? And can it meet the needs of the industry? Our guest is Steve Mawer, Chairman of Calumet and its Montana Renewables subsidiary- a key producer of renewable fuels in North America
The Price of Time with Edward Chancellor
Award-winning, financial journalist and historian Edward Chancellor join us to discuss interest rates and the impact on the commodities sector. Interest rates – the price of money and time – have been unnaturally low since the global financial crisis. This has led to a profound impact on finance and society. Global corporates found financial engineering more “profitable” than focusing on products and operations. Assets inflated and inequality widened. In the commodities world, the cost of carry and cost of finance, was essentially zero. Energy tech plays were awash in money and valuations sky high. Rates are now rising and those same engineered corporates are becoming zombies. China risks economic Armageddon as the global carry trade ends. Assets prices are falling and financially stressed commodity traders, now face higher rates. Edward argues higher rates will return the world to profitable growth and risk allocation unless political will to reverse rates wins…
In part 2, we examine how the retail fuel world will manage the next decade and the transition to EVs. Will the highly efficient supply systems built over the last two decades decay as investment (and maintenance) dries up? What will happen to prices? Who will trade and who will have the last gas pump in town? How will fuel retailers pivot to EVs? Where will roadside chargers be and will retailers become power traders? How will the power industry respond and what will the challenges be? Will Hydrogen play a role? All this and more in part two with Doug Haugh.
Margin, Volatility & Supply in Retail Fuel with Doug Haugh: Part 1
Fuel is the key driver in the oil market. The story of how diesel and gasoline reach the pump, and who traded it on the way, has shifted dramatically over the past 30 years. Producers, Traders and retailers have ebbed up and down the value chain on the tides of margin, volatility and market efficiency. In that journey, trading teams in the US and Europe have been built and shed. As such, it’s a story that is a microcosm of many stories of many commodities over the past 30 years. In Part 1 of this two part series, our guest Doug Haugh takes us through the strategies, conditions and outcomes of the market participants and brings us to the present day and the challenges the retail fuel space faces. Doug has been at the forefront of these changes throughout his career, including latterly as President of Parkland USA, the fastest growing fuel retailer in North America.
The ocean is the world’s largest battery, charged by the sun and the wind year round. Harnessing that energy for power generation has proved problematic for years. Yet, it would bring significant advantages over, and in combination with, the existing renewables suite; lowering intermittency and solving for issues of land use and scale. What is the status of the race to harness the waves? What are the design and environment challenges? And what could be its future? In this episode, we explore Wave Power, the challenges, the technologies and the benefits that could lead it to becoming a vital part of our decarbonization infrastructure. Our guest is Jan Skjoldhammer, investor, inventor and founder of Noviocean – a pioneering renewables company at the very leading edge of power generation from waves. You can find links to the documents we discuss in the episode here: https://noviocean.energy/documents/
Oil & Gas Markets in 2023 with Paul Horsnell
In this episode we are joined by Paul Horsnell, Global Head of Commodities Research at Standard Chartered, to review the major events that impacts oil and gas markets, as well as broader commodities, in 2022 and what major themes and learnings we can take into 2023. 2022 was an extraordinary year for the commodities sector with organizations struggling with unprecedented volatility while managing long term themes of a shifting political and global economic environment and energy transition. 2023 will likely be the same and Paul generously provides his view on how markets will behave and the key events to look out for.
The Fate of Rome: climate, disease and the end of an empire with Kyle Harper (Christmas Special)
The Roman Period affords us one of the most documented and detailed histories of an ancient civilization. Yet since Edward Gibbon, its decline and fall remains hotly debated. However, over the last couple of decades we have complemented the written evidence with a wealth of climate and disease research. The result is a striking new view and one with echoes for our time. Climate change was foundational to Rome’s rise and instrumental in its subsequent fall, combining with attendant pandemics falling on a weakened population. In the wake of COVID and rapid climate shocks, what warnings does this history hold for us? In this Christmas special, we welcome Kyle Harper, G.T. and Libby Blankenship Chair in the History of Liberty; Professor of Classics and Letters at The University of Oklahama and author of The Fate Fate of Rome: climate, disease and the end of an empire.
Insects & Commodities with Charlie Drew
Insects are fundamental to the commodities world. As pollinators, they are crucial to the agri sector and food production. Increasingly, they are being used to recycle trash and farmed to provide protein for aquaculture, animal husbandry and even humans. However, these very alien creatures also show us a way to think very differently too – generating a collective brain created by thousands of individuals in a colony. And it is this decision making process that is informing Swarm Technology’s very different investment fund. Here to talk all things insects from farming to investing is Charlie Drew, Co-Founder and COO of Swarm Technology (https://swarmtechnology.com)
Climate Change is the dominant investment theme of the next 30 years. To decarbonize the planet while managing and mitigating the risks of a more volatile climate will require trillions of dollars, creating immense opportunities and risks for investors. Our guest is Bruce Usher, author of the recently published book “Investing in the Era of Climate Change’ – a clear-eyed handbook on the investing strategies, risks, terminologies and the controversies, from divestment to ESG. What products are available now and what might the future hold? Usher takes us step-by-step through the investment world’s response to this global threat.
Bruce Usher is professor of professional practice and the Elizabeth B. Strickler ’86 and Mark T. Gallogly ’86 Faculty Director of the Tamer Center for Social Enterprise at Columbia Business School, where he teaches on the intersection of financial, social, and environmental issues. He was previously an entrepreneur and worked in financial services in New York and Tokyo. Usher is also the author of Renewable Energy: A Primer for the Twenty-First Century (Columbia, 2019).
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
The European Energy Crisis is viewed through the lens of a gas supply crisis, in the wake of Russia’s invasion of Ukraine. While true, it is as much a product of a European nuclear energy crisis, centered on France. A crisis that is both acute but also forecast to be chronic. And yet, nuclear power is still hailed as the solution to this same crisis and energy transition in general. All the while, for the first time in world, history, a nuclear power plant is being shelled during a military conflict in the heart of Europe. Returning to the show to discuss all things nuclear in 2022 is Mycle Schneider, independent consultant, coordinator and editor of the World Nuclear Industry Status Report (https://www.worldnuclearreport.org).
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Following the recent LME week and COP27, we are checking in on the metals market. In particular, Copper, Aluminum and Steel. All these metals face the twin forces of energy transition & sustainability alongside a global market destabilized by COVID, trade wars and Russia’s invasion of Ukraine. What have been the major trends in these metals in 2022 and what is the outlook for 2023? How will each of these metals fare in the effort to decarbonize, an inflationary global economy and the European energy crisis. Our guests are research leaders, Sarah Macnaughton and Charlie Durant, at the independent market analytics firm, CRU, which covers metals, minerals and fertilizers.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Titanium is an engineer’s dream. Lighter than steel yet stronger than aluminum and extraordinarily corrosion resistant, titanium can help facilitate the clean energy transition—from EVs to wind turbines. Yet ittypicallyremains the preserve of space programs and Swiss watches.The current process for manufacturing titanium is expensive, complex, toxic and highly carbon intensive. Additionally, like many critical metals, the supply chain is dominated by foreign nations including China and Russia. Titanium is crucial to our national defense, the space industry and our advanced industries, and the supply chain stakes are high. Here to discuss Titanium and its potential is Anastasios Arima, co-founder and CEO of IperionX, a US based metals technology company.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Gas stations have played a pivotal role in civil infrastructure for over a century. The pump has served as a proxy for a country’s development status and a polity’s health. Over time its role has developed. As fuel margins tightened, companies reimagined themselves as roadside retailers. Others have backward integrated into supply and trading firms. However, what does the energy transition hold for this ubiquitous sector? How will EVs transform the market and how can retailers adapt? Our guest is Dan Munford, Managing Director of consultancy Insight Research and media platform for the sector Global Convenience Store Focus.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
LNG now drives natural gas prices in Europe. After decades of this only being the case in Asian markets, LNG could shortly price markets worldwide. How did we get here in terms of assets, players and politics? Will this remain in place throughout the energy transition? What does it mean for producers like the US? What does it mean for Natural Gas traders and who stands to benefit? Our guest is Tamir Druz, Managing Director of Capra Energy, an LNG and Natural Gas Training and Data Provider. He is also Chief Risk Advisor at Green Trading Capital, an environmental asset investment company. Tamir has had a 25 year career in Natural Gas markets as a trader, risk officer and consultant.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
What is happening to the Super-Cycle? The thesis is redistributive policies, energy transition and deglobalization have dramatically constrained supply while ballooning demand. Arguably, all conditions have tightened exacerbated by conflict, energy subsidies and a worsening emissions outlook. So why have commodities fallen off the Spring highs? Is this a pause before prices inexorably march upwards? Jeff Currie, Chief Economist for Commodities at Goldman Sachs returns to talk about the last 6 months and what the future might hold.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
In this episode, we take a look at the Meat Industry and the ag and animal nutrition sector that underpins it. The sector faces unprecedented challenges. Producers are working to meet the demands of a growing population while adapting to long term trends such as changing consumer expectations, in addition to innovating to address the challenges presented by climate change. At the same time, they face short term volatility from feedstock prices, conflict, disease and increasing regulation. Here to discuss all this and more is Chris Chavis, VP of Animal Nutrition and Health Performance at DSM, the global nutrition and health company.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
The past decade has seen a vibrant investment market centered on food and agri technology, in part driven by the twin imperatives of sustainability and resilience in a changing climate and in response to changing consumer demands. Some returns have been atmospheric such as alternative protein first movers like Beyond Meat. Large agri and food houses have been keen investors and buyers as they respond to shareholder demands. However, this is a challenging space where biological systems rule and many investors have been left with low yields. Our guest to discuss the world of food and ag tech is Lindsay McCorkle, Director, Ventures and Growth Equity at Blue Horizon, an investment fund focused on the sector.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
The Lithium-Ion battery is central to energy transition. However, the key components within it come with a heavy environmental toll and are captive in an opaque supply chain dominated by a handful of Chinese companies. Western OEMs are now scrambling to meet demand for batteries while navigating these trade-offs. Governments are reacting to how the core components – Nickel, Lithium, Cobalt and Copper – are strategic resources and that Western miners alone cannot meet the demand. In this episode, explore the new book, Volt Rush: The Winners and Losers in the Race to Go Green, with its author Henry Sanderson – an award winning journalist and now executive editor at Benchmark Mineral Intelligence.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
A hundred or more years ago, the oil business was vertically integrated and companies, often back by governmental support, scrambled to secure untapped reserves. So it is with Lithium at the dawn of the battery age. The parallels do not stop there as this episode uncovers. Access to Lithium is becoming the crucial bottleneck for battery companies, OEMs and countries alike – and a combination of prescient policy and aggressive entrepreneurs has put China way ahead. Can the West ever recover? What is the future of the Lithium market…will it evolve into a traded market? What is the role of commodity traders now and in the future and how to position for it? Our guest is Lukasz Bednarski, author of the book, Lithium: The Global Race for Battery Dominance and the New Energy Revolution. Lukasz is a former rare metals commodity trader and now a battery metals analyst.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Throughout history Solar flares have swept the earth, creating nothing more than a planet wide lightshow for the human race. However, in the digital age, we are uniquely vulnerable. Even relatively weak events can destroy our uniquely vulnerable power grids – leaving whole regions in blackout for months, even years. Powerful events, like the 1859 Carrington Event, could destroy civilization as we know it – every electronic system would be destroyed with no hope of rebuilding in any short period of time. Currently, we would only have 15 minutes notice of such an event. Yet, there are things we can do from hardening transformers, raising public awareness and investing in prediction - something most power sector executives and regulators have quietly ignored. Here to shed light on the terrifying world of solar flares is Edl Schamiloglu, Distinguished professor in the Department of Electrical and Computer Engineering at the University of New Mexico and world expert on all forms of pulsed electromagnetic radiation.
Batteries are now at the center of geopolitical competition. Lithium extraction and processing is not going to meet forecasted demand. All the mineral components of batteries have environmental impacts, especially cobalt and graphite. It’s against this backdrop that commodity traders are investing in battery recycling. Can and how are batteries recycled? What are the technical, regulatory and market challenges to unlocking the vast resources trapped within used batteries. Who is leading the race? Our guests are William Bergh and Eden Yates of Cling Systems. A start-up focused on creating the trading platform for the repurposing and recycling of batteries and their components.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
We are living in the Human Age and climate change presents an existential threat to humanity. For the commodities sector, it is the key driver of opportunities and challenge, from selecting strategies to pricing future risks. Growing awareness of the impacts is profoundly affecting society and companies alike. But what is climate change and to what future climate are we headed? Is humanity capable of addressing it whether through mitigation and adaptation? And how can the best intentions of energy-transition be disruptive as they change the societies within which they are placed? In this episode, we are delighted to welcome Dominic Boyer, Professor of Cultural Anthropology, whose focus is on climate change and societal responses. Dominic is also the author of Energopolitics and co-host of the Cultures of Energy.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
The Commodity Futures Trading Commission regulates commodities futures markets and enforces the Commodity Exchange Act in the US. As such, it sets the tone for much of the global regulation governing the sector. In such a global, dynamic and evolving market, the CFTC has its work cut out. It also has teeth, exacting significant fines on transgressors through its enforcement arm. What is the CFTC? How is it constructed and managed? How can it provide stable and forward looking regulation in such a volatility and changing sector? What are the challenges it faces triggered by energy transition and digitization (and digital assets)? We are delighted to have Commissioner Summer Mersinger join us to discuss all these points and more.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
The commodities sector has never been under more financing pressure. Yet, many traditional financiers have scaled back their capabilities or exited the space altogether. To fill this void, alternative financing has emerged from a range of sources including hedge funds, trade-finance funds, and other asset managers – bringing with it a new set of costs and challenges. In this panel recording, we take on the rise of alternative financing in the commodities sectors and its consequences with some of the leading protagonists. The panel was recorded at the Reuters Events Commodity Trading USA event. The panelists were Lewis Hart, head of Commodities and Corporate Banking at BBH, Prashant Mupparapu, head of investments in energy and infrastructure at Citadel and Ethan Shoemaker, Investment Partner and head of infra credit at Orion Infrastructure Capital.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Energy transition will be revolutionary. Fundamental to that statement is recognition that solar and batteries are technologies, not fuels. Their technological journeys have just begun - as have their consequences for societies, economics and for individuals. This is the biggest opportunity since the development of the combustion engine for the energy & commodities sector. But who will lead this next chapter in the global energy industry? Who is currently investing in what and what will the future look like? Our guest Bill Nussey, entrepreneur, tech CEO and host of the Freeing Energy Podcast. Bill is the author of Freeing Energy – How Solar and Batteries are disrupting the global energy industry from the outside in.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
This episode continues our focus on the looming energy crisis in Europe; its causes, path and potential solutions. The episode is a recording of a Reuters Events webinar from late July 2022, where host Paul Chapman moderated a discussion between Gerard Reid, co-founder of Alexa Capital and host of the Redefining Energy Podcast and George Voloshin, previously head of the Paris branch of Aperio Intelligence and now at ACAMS. The panel discuss the structural and temporal backdrop to Europe’s unprecedented energy prices and what the likely political and societal responses could be.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
At root, the rise in global food prices is tied to energy. The rise in energy prices is fundamentally driven by a lack of investment in hydrocarbons. Russia’s invasion of Ukraine has tipped rising prices into the genesis of a crisis. The invasion has deepened the divide between energy exporters and importers, with profound and increasing impacts on food supply. What does the future hold and what are the milestones that signal whether the crisis is improving and getting worse? Will the pain of sanctions be too much for Western Democracies? Where is the political will to underpin energy security in the face of energy transition? Our guest is Doomberg, one of the leading content providers on Substack and a leading thinker on commodities, economics and finance.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Fifteen years ago, money was flowing into oil. Prices were high and the stock market rewarded successful exploration above all. A lot has happened since including a price collapse and the advent of shale. Now with prices on the rise again, how will this cycle look different? Is there the appetite to invest in oil exploration and production in a world of energy transition and an uncertain carbon regime? How have producers adapted and what choices do they face? Our guest is Morten Kelstrup, oil industry veteran and Chief Operating Officer for Maersk Drilling.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
This week’s episode is a panel discussion on the US carbon markets, and beyond, recorded at the Reuters Event’s USA Commodity Trading 2022 in June. Our panelists take on the state of the compliance and voluntary carbon markets today. How in the absence of a federal carbon market, voluntary markets are leading the charge. How are voluntary credits generated? What is legal framework and the nascent legislation around them? How are they already transforming industry and technologies? What could the future hold and how can the opportunity across carbon avoidance and mitigation be unlocked? What are the hurdles to that future? The panelists are Deanna Reitman, head of DLA Piper’s commodity platform, Eric Rubenstein, founder and Managing Partner of New Climate Ventures and Lance Titus, Managing Director at Uniper Global Commodities.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Blessed by geography and abundant oil and gas, the UAE is adding targeted legal, tax and infrastructure policies to create a commodity trading hubs in Abu Dhabi and Dubai that rivals Singapore, London and Geneva. Timed with the release of HC Group’s editorial on this subject in our quarterly review (available at www.hcgroup.global) , we dig into the rise of the UAE as a commodities hub. What is the background to the strategy. What specific policies are targeting commodity traders and what could it mean for the sector. How is the UAE tackling the leading edge in commodities of energy transition and digitization. What does it mean for individuals thinking of relocating… Our guest is Bhaskar Dasgupta, an independent board executive and long-time UAE operator.
Do the commodity markets pose a systemic risk to the global financial markets and beyond? A timely look at the risks inherent in the commodity markets and capacity of exchanges, clearing houses, traders, regulators and central banks to manage them. What are the main sources of systemic risk? What would a disruption look like and how could it spread through the broader global financial system? What are potential solutions? Our guest is Craig Pirrong, Professor of the Bauer Business School at the University of Houston and Adjunct Professor at the University of Geneva.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
High prices, high volatility, geopolitics risk, liquidity constraints and navigating the energy transition. These are just some of the challenges facing the commodity trading sector that the panelists take on in the discussion, recorded at the Reuters Events Commodity Trading USA event which was moderated by Paul Chapman and hosted by ING. The panel tackle the challenges, their significance and potential opportunities while laying out their views on the state and future of the commodities sector. The panelists were Sebastian Barrack, head of Citadel’a Commodity Business Unit, Ben Sutton, founder and CEO of 61Commodities, Matthew Rosetti, head of ING’s Commodity platform in the Americas and Summer Mersinger, Commissioner of the CFTC.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Renewable Energy faces the twin challenges of intermittency and spilled power, both of which drag on adoption and financing. If countries are to meet their climate goals, renewable energy generation needs to accelerate. One solution is connecting renewable power to flexible load, namely data centers meeting the demands of power hungry crypto mining and other applications. In this episode we dig into the fundamental challenges of widespread renewable adoption and potential solutions. Our guest is John Belizaire, founder and CEO of Soluna Computing (SLNH), a global company that provides renewable investors and generators with turn-key computing solutions.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Institutional firms have been utilizing algorithms to trade commodities for years and the adoption of this approach appears to be accelerating. The scale is such that even the markets themselves may be changing. Why? What are the advantages for a trader to distill trades into series of pre-determined decisions? What's the impact? How should (and in many cases are) traditional market participants adapt and adopt? Our guest is Stephen Roseme, founder and CEO of the Bridgeton Group, the developer of a proprietary algorithmic and data analytics platform used by commodities trading houses and institutional investors.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Investment capital flows into the commodities sector have slowed despite rising returns and opportunity. Volatility, geopolitical risk and uncertainty over energy transition have impacted the rate of investment while increasing the need. In this episode, we discuss the cause and impact of this funding gap and what the role of banks is in supporting investment and managing the risks. Our guest is Nick O’Kane, Global Head of Commodities and Global Markets at Macquarie Group. Nick gives us his thoughts behind the current trends in the commodities space, the need to be responsive to the changing environment and what the future might hold.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Soybeans have become one of the world’s most important commodities. They feed us, our livestock and fuel our cars. As such they have become central in geopolitics, world trade and food security. However, prices are rising fast in the wake of rising demand for food and fuel, weather impacts of La Nina and climate change and the war in Ukraine. What will this mean for the world of commodities? In this episode we zoom into the world of soybeans. What are they? Where are they grown, crushed and sold? What are the trends that are affecting traders and us all. Our guest is Ivo Sarjanovic, agri independent director, investor in ag-tech and visiting professor at the University of Geneva. As a bonus, Ivo also takes us through a recent academic paper on whether commodities are always a good hedge for inflation.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Geopolitical risk is back. Gone are the years of expanding free trade and liberalization of markets. Sanctions on Russia, great power rivalry and market interventions are all disrupting energy & commodities markets and its participants. What are the current sanctions on Russia, What is the short term impact and what more can we expect? What can we expect over the medium term? How can companies organize themselves to prepare and respond to this increasingly complex and uncertain landscape? What does it mean for the global trading houses and their funding? Our guest is George Voloshin, Director and Head of the Paris Branch at Aperio Intelligence, a political risk & management consultancy.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Over the last decade, commodity markets have become increasingly financialized with much more granular contracts, and therefore hedges, available on exchanges. Oil is the tip of the spear. This is profoundly changing how oil is traded and by whom. Forward curves are now dictating supply and demand. The information produced by integrated physical systems – historically the unassailable competitive advantage of the majors – has now been democratized. This has also attracted new participants on a huge scale. The consequences is the oil markets look a lot more like equity markets and swings much more violent – supply and demand be damned. Our guest is Greg Newman, CEO of Onyx Capital Group, the leading market maker in oil swaps. Greg guides us through what is changing and the consequences for the commodities sector.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
The adoption of battery electric vehicles has profound consequences for the commodities world. From the components required to build, to how they are charged and more broadly the future of energy management. What is the current state of the market? What new trends and technologies are emerging from wireless charging to battery swapping (and who will provide these services)? What is the role of the EV in energy transition? Have Western policies focused on promoting private ownership mean these are just the toys of the rich, rather than transformative for carbon reduction? What policies should we have? Is China leading the world in this? Our guest is renowned EV commentator and thinker Roger Atkins, founder of the EVOutlook with over 300,000 followers on Linkedin.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Europe is in an energy crisis. Power prices have quadrupled, governments have scrambled to provide liquidity to markets and subsidize households. And for the moment, gas is still flowing from Russia. How did we get to this state? What are the impacts and short-term consequences? Can Europe navigate to the “whole of Europe response” needed or could this test the political union to breaking point? What does this mean for European energy traders and markets and what are the solutions? Our guest to tackle this subject is Gerard Reid, energy and renewables investment banker and economist and co-host of the Redefining Energy podcast .
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
In February, the SEC released proposed rules for reporting climate risk and Green House Gas emissions, including Scope 1, 2 and 3. What exactly are in the proposed rules? How likely are they to be enacted? How will they affect the energy and commodities sector both in the US and globally? How should leadership respond? Now that these risks have been highlighted, will investors drive change through the supply chain? And do they herald more stringent reporting and remediation in the future? Julie McLaughlin, Managing Director with Alvarez & Marsal’s Energy Practice, sheds light on how to think about these rules and the answers to these questions.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Jeff Currie, Global Head of Commodities Research at Goldman Sachs, returns to update us on the commodities super-cycle. Redistributive policies, energy transition and deglobalization are driving commodity prices higher and higher. However, investment is not flowing into the sector – kept away by the risk and the optics. This sets the stage for a volatility trap that could lead to huge market disruption. What has led us to the state and what could the future hold? How will investment return to the sector and will the government intervention already seen in German power markets be just the start.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
The container shipping market, the lynchpin of global commerce, is in turmoil. Shipping rates have increased 1000%. Over the last decade, commodities have been increasingly containerized, as low prices have supported efforts for shipping lines to build market share. Why the turmoil? What is causing the bottlenecks? What is its role in inflation? What does this mean for commodities and when will things get back to normal...? Our guest to navigate these choppy waters is Peter Sand, Chief Analyst at Xeneta, the shipping data and analytics company.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
The commodities markets and its traders face great challenges. Russia’s invasion of Ukraine may tip an already stressed markets into turmoil. The LME’s recent challenges with Nickel has exposed serious cracks in both how markets function and are funded. It has sent a shock wave through the sector, signaling that commodity price risk may have been seriously undervalued. Margins requirements have spiraled and recent requests for support by the sector’s main traders may have invited a future reckoning with regulation. It's challenging times and may get a whole lot worse. Our guest is Javier Blas, co-author of The World for Sale , the best seller on the commodities trading world and Energy Columnist at Bloomberg Opinion. Javier deftly walks us through the major challenges facing the sector and what the future may hold.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
In this episode, Daniel Yergin, Vice Chairman of S&P Global, Pulitzer Prize winner and author of The New Map: Energy, Climate and the Clash of Nations, returns to the podcast to discuss the unfolding energy crisis and the consequences of Russia’s invasion of Ukraine. What does the energy crisis (and the broader commodity super-cycle) mean for geopolitics and how does it shape the trends we discussed in our previous episode? Was Russia’s invasion of Ukraine triggered by the changing energy map? What does it mean for Europe? Will it accelerate or derail the Energy Transition? Why is India on the fence and what does it mean for relations between the geo-strategic competitors China and the US? The best seller, The New Map is now available in a revised edition and in paperback.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Digitization is transforming commodities trading, creating new opportunities and introducing new risks as markets become faster and transparent. What does this all mean for how and who makes trading decisions? How trades are settled and financiers connected? Can this tackle the liquidity challenges the industry faces? What does this mean for organizational design and talent? All these questions and more are tackled by the panelists who participated in this Reuters Event Webinar recorded in March which host Paul Chapman moderated. The panelists represent a spectrum of users, creators and financiers: Scott Wellcome, Director of Grains Risk Management at Good Mills Group, Carl Wegner, CEO of Contour, Christine McWilliams, Global Head of Energy & Commodity Trade at Citi and Carl Larry, Director of Sales at Genscape.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
In this episode, we do a deep dive in to the world of voluntary carbon credits, which dominate the carbon world in the absence of widespread global compliance markets. To date the categories, case law and regulation around these credits is complex and fragmented. However, with vast amounts of money flowing into them as companies respond to consumer demand the space is rapidly evolving and expanding. What are they? How are they generated, verified, tracked, financed and traded? Who is active in the space and what is its future? Our guest is Deanna Reitman, head of the commodities subsector at the law firm DLA Piper, whose team is spearheading their carbon offering.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
To date, carbon markets cover only a few geographies and select categories. Yet, they are already impacting how commodities are produced and traded. Over the next decade, carbon credits will expand to cover all manner of reduction and avoidance technologies, dramatically changing the commodities world. Low carbon alternatives to existing commodities will flourish and so will the circular economy. Carbon will become a truly global commodity and every trader will need to know the market. How can commodities firms plan for and capture these future opportunities? Will every trader, from power, to ags, to oil, need to become a carbon trader? In this episode, Eric Rubenstein, Managing Partner of New Climate Ventures, sets forth his thesis on carbon’s future and impact on the commodities world.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
In this episode we return to Hydrogen with guest Erik Rakhou, Associate Director at Boston Consulting Group. Low-carbon Hydrogen projects, policy support and predictions continue to dominate the news. So does the debate over its role in the energy transition, from power production to use as a fuel. What is the landscape today, the state of the debate and what will the future of Hydrogen be? What conditions will be needed? Where and how will low-carbon Hydrogen be deployed? Erik, together with co-editor Rosa Puentes, has gathered experts from around the world to publish a free to download book – Touching Hydrogen Future - that’s gives us a sweeping view of the potential future hydrogen economy around the world in 2040, based on technological and policy support today. You can access to book here: https://europeangasmarket.eu. **Episode was recorded just prior to Erik joining.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Robert Bensh, veteran energy executive and Ukraine investor, joins us again in a special episode to update us on the harrowing, shocking and tragic events in Ukraine. What has become of the people and companies that Robert partners with? What is happening with Ukraine's energy sector today? What can be done to help Ukraine? What are the immediate and long-term consequences of the resulting sanctions on Russia? Has the invasion not only fundamentally changed geopolitics, has it also fundamentally changed the energy sector? In a difficult and personal episode, Robert walks us through how much the world has changed and the ongoing tragedy in Ukraine wrought by Russia's invasion.
Email us at hcinsider@hcgroup.global to be connected to Robert for information discussed.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Demand for food is growing, and changing, with population increases and demographic change. At the same time, energy transition is creating an insatiable appetite for agricultural products. To date, advances in agri-technology and an efficient global trade has kept prices stable and inflation low. Is this now under threat as inflation takes grip? What is driving demand and how is it changing? Will governmental intervention disrupt the global agri trade with dire consequences for prices and political stability? What of fuel versus food debate? Recorded prior to the events in Ukraine, this episode provides a stark look at the future of the agri markets – the opportunities and the threats – now only heightened given Ukraine’s key role as a food exporter. Our guest is Soren Schroder, former CEO of the agri giant Bunge and board member and investor across the agri sector.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
At the end of the last decade, Investment Banks dominated commodity trading. The best results, the biggest seats and the best paid. A few short years later and the majority had scaled back or exited. Why? What drove their success and their exit. Now, in the foothills of a commodity super-cycle and the volatility of the energy transition will we see the banks return? The 2021 results, matching the previous highs, of those few banks who stuck it out suggests so. And what will be different this time? Our guest is Kevin O'Reilly, veteran of the most successful banks in commodities, to take us on this sweep of commodity banking history.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Trillions of dollars will be needed to transition the global industrial base away from fossil fuels. Unlike the digital revolution, this will be capital intensive and technologically diverse – many of such technologies may be transitory themselves. So, what is the role of the capital markets and the financial institutions that facilitate them? How can investors navigate such a multi-pathed journey? And what of the companies that are forging this route – what determines their valuations and access to funding? To discuss our guests are Citi’s Arash Nazhad, Managing Director of their Clean Energy Transition team and Blake Best who leads their private capital markets offering for the energy transition.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Trading is hard. Trading natural gas is trading on hard mode. The market has constantly evolved since its inception over the last twenty years ago, as regulation, transparency and market developments (e.g. shale) have changed the game. In the wake of those changes, many platforms and traders have left. So what does it take to survive and thrive as a trader in the energy markets? We turn to one of the most successful energy traders of all time to find the answers. Our guest is Bill Perkins, veteran gas trader, entrepreneur, author and founder of Skylar Capital. We discuss how the markets have evolved over the last twenty years and what it takes to be, and stay, relevant.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
The mining sector faces powerful forces that are both disrupting it and creating opportunity. Customers are demanding greater transparency, while the energy transition continues to impact the entire supply chain. To maintain a competitive edge, mining businesses must adapt - reviewing everything from operational capability, to how they market and trade, and their culture and talent. In this episode, Oliver Wyman partner Roland Rechtsteiner takes us into the boardrooms of the world’s largest miners to evaluate their changing environment and the disruptive decisions they face. What will the miner of the future look like and what are the characteristics of the winners?
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
In this episode we talk with author Owain Johnson, on his recently published book, 40 Classic Crude Oil Trades. A unique window into the world of oil trading and the traders that drive the markets. The book is a collection of forty trades, contributed by the traders themselves, which span the breadth and scope of oil trading. Owain walks us through four of the best stories, as well as why he decided to write the book and what he learned in the process about what makes a trader successful and common attributes they share. Owain has spent twenty years in the industry and is a Managing Director at the CME Group and heads global research. The book is published by Routledge and available in all good book retailers.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Over the past 50 years, nuclear’s share of global power generation has consistently failed to meet predictions. Now installed capacity is declining and the fleet is aging. Why? Have we seen “peak nuclear”? And what are the consequences for the power markets? Now, many see nuclear as having a key role to play in the energy transition, especially with the concept of Small Modular Reactors. Will this too fail to meet expectations? In this episode we look at the economics, technology and policy environment that has led to the stark gap between expectations of both, industry and the public, and the reality. Our guest is Mycle Schneider, an independent nuclear policy analyst and advisor to governments, parliamentarians, think tanks, and the media. Mycle is the coordinator and publisher of the annual World Nuclear Industry Status Report (WNISR).
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
PPAs unlocked the power of renewables leading to the sectors incredible rise over the past decade. These long term agreements, primarily selling the power to utilities, provided the foundation for a whole slate of new developers to create wind and solar farms across Europe and US. Everything worked well in a decade of low prices and low volatility. Then came 2021 and these long term PPAs created an existential risk to certain participants. Utilities have faced huge margin calls to manage their exposure to hedged PPAs warehoused on their balance sheets. What is the history of the PPA? What do the events of 2021 mean for the PPA going forwards? How will their structure and tenure change in response? And what will it do to the appetite of buyers and what will that mean for the renewable power industry? Our guest is Werner Trabesinger, Head of Quantitative Analytics at Pexapark, a software company enabling market players to sell, manage and buy renewable power.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Fertilizers sit at the very heart of the commodities world. Their components are both mined and derived from hydrocarbons while their use underpins the agri sector. A truly global commodity but dominated by a handful of producers and traders. After a decade of low prices, last year saw prices quadrupled driven by energy price rises, shipping disruption and demand increase. What is the market structure? What does this all mean for market participants? Will fertilizers finally get a vibrant derivatives market? How will governments react to a prolonged price increase? What technologies might disrupt this sector? Our guest is Andres Santacruz, Head of Business Development for Fertilizers, Latin America and 10 year veteran in fertilizer trading.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
In this special end of year episode, host Paul Chapman reviews some of the major themes of 2021 covered in the podcast and comments on the plans for 2022.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Ukraine was the breadbasket and the energy engine for the Soviet Union. It was also the main energy transit route connecting the East to Europe. Now, after years of underinvestment in production it faces an energy deficit, and due to the uncertain political and security environment its role of gas transistor is rapidly disappearing. How can Ukraine meet its energy shortfall? What is the opportunity to invest in the Ukraine in this sky high energy price environment? What is the political environment inside the country and what do Ukrainians make of the Russian threat. To give us an independent overview of Ukraine and its energy sector is Robert Bensh. Robert is an independent oil and gas executive with 20 years experience operating in Ukraine.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
There is a fundamental mismatch between forecasted demand and supply for those metals vital for energy transition and EVs. What are the supply challenges? And what are the solutions, if stated goals and public demand are to be met? What roles will policy, investment and market solutions play and how can the metal producers, traders and consumers prepare and profit from what will undoubtedly be one of the biggest stories in commodities over the next decade. Our guest, Chris Berry, founder of House Mountain Partners, a battery metal advisory firm, takes on this challenging subject.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Technology is revolutionizing agriculture and its markets. Over the last two decades, rapid strides have been made in the business of farming. Genetics is de-commoditizing crops; in the future, constituent yields of oils and proteins will be far more likely to drive pricing than crop itself. Automation of planting, plant care and harvesting is boosting yield. Both technologies are tackling sustainability and driving the drastic reinvention of farm equipment and practices. At the heart of all this lies data. Across the globe, planting and yield data is being collected, uploaded and analyzed. How this data is owned and used could transform the agri commodity markets. Think crop reports on a real time, global basis. To guide us through this quiet revolution is Barrett Barr, Global Head of Business Development, Seeds for Syngenta and former strategist, technologist and economist for John Deere.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Emerging technologies, such as blockchain and artificial intelligence are unlocking the capacity to efficiently trace, track and share ownership of physical assets at a granular level. Digitalization not only provides the ability to interconnect entire value chains from origin through to trading but can also give commodities utility as a form of payments. Could commodities become new currencies, powering circular economies that de-risk all participants? Could the future take us back to a barter economy where the value of one digital asset is exchanged for the value of another? Our guest in this episode is pioneering just this concept. Brent de Jong is the Chairman of Emergent Technology & Payments which has launched G-Coin©, a digital gold token that can be used to save, send, and spend Responsible Gold™ - an idea that conceptually could be applied to all physical commodities. Brent is also the Managing Partner of De Jong Capital, an investment firm focused on the commodities world.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Are we in a super-cycle or is it a chimera generated by the short-term impacts of COVID and trade wars? What’s the role of energy transition and redistributive policies around the world? How long will it last and how high will prices go? This episode is a recording of a panel discussion which host Paul Chapman moderated at the Reuters Events Commodity Trading 2021. The panelists represent the leading economists in the commodities world: Jeff Currie, Global Head of Commodities Research at Goldman Sachs; Saad Rahim, Chief Ecnomist at Trafigura; Derek Sammann, Global Head of Commodity and Options at CME Group and Alex Booth, Head of Research for Kpler.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
With COP26, voluntary carbon credits, Green Financing and shrinking opportunities in established markets, energy investors and producers are looking to emerging and frontier markets for future projects. Such projects presents great challenges, some new and some old. In this episode, our guest Francis Ugboma guides us through some of the additional complexity and hurdles to take on this growing sector. Francis has a long career in energy and emerging markets and is the author of the recently published book Developing Sustainable Energy Projects in Emerging Markets.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Demand for commodity financing is skyrocketing as prices, volumes and margin calls are on the rise. However, after a decade of low demand, low returns and pressure from a variety of sources, the supply of liquidity is far more constrained. Many banks, who had prominent roles in commodity finance in the 2000s have pulled back entirely while newer entrants often lack the deep product expertise to provide the services needed. Now volatility, high prices and supply chain challenges have left traders and merchants scrambling to finance their positions and capture the opportunities presented. How much of a risk does this present to the commodity trading world? What will happen to the availability and costof financing and how are companies responding? Will the response only add risk to the system? Guiding us through the tightening world of commodity finance and its ramifications is Lewis Hart, Managing Director at Brown Brothers Harriman where he leads the firm’s Commodities & Logistics and Corporate Banking businesses.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Record prices, extreme volatility, net-zero carbon demands, liquidity challenges and disrupted supply chains are the ‘new normal’ in commodities. Planning for 2022 and beyond in this environment is incredibly hard. In this episode, we go into the boardrooms of traders, producers and consumers to understand the challenges they face and the decisions to make to survive and thrive in this uncertain world. Our guest is McKinsey’s Partner Xavier Veillard, who leads the commodity trading practice. Xavier takes us on a guided tour on which topics (and why) are on the agenda and why this ‘new normal’ is likely here for the long term.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
In this episode, we explore the hidden, dark side of the energy transition. The West offshored to Asia the pollution stemming from the mining and processing of the key metals and products needed for the modem world, from electric cars to defense technology. In doing so has it also irrevocably ceded dominance to China in the future digital and energy economy? And in a world of rising prices, the EV revolution and increasing tension, will these metals become the new strategic resource and how far can and will China leverage its position. And what was the environmental cost to this dominance? Our guest is the journalist, author and documentary maker, Guillaume Pitron. Guillaume’s book, The Rare Metals War, has just been published in English and the product of decade of research into this hidden world.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Hydrogen is touted as a key component in energy transition, providing a carbon-free source of energy from transportation to heating our homes, while conveniently using existing oil & gas infrastructure and reserves. If so, why haven’t we built a hydrogen economy already? Is the hydrogen economy more hype than hope? What are its challenges from the immutable laws of thermodynamics, to technology, to safety and cost that have limited it to date? And as the commodity community begins to focus on its, what questions need to be asked. Our guest is Paul Martin, a chemical process engineer with a long association with hydrogen and its uses. Paul, a well-known thinker and writer on energy transition, walks us through the science and why hydrogen might continue to play a minimal, even negative, role in the energy transition story.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
The shipping market is treacherously cyclical. Adding the pandemic, digitization, trade wars and energy transition has made this lynchpin of the global energy markets one of most challenging segments to operate in and to plan for the future. What drives the tanker market? What are the short- and long-term impacts of the pandemic? What does digitization mean for the market structure and talent? And just what will energy transition mean for owners, operators and traders over the next decade. Our guest is Richard Matthews, Director of Consultancy & Research at E.A.Gibsons the shipbroker, who guides us through the volatile world of tankers.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
As we embark on the energy transition, oil trading will not only become more crucial but more lucrative. Reducing investment in supply and infrastructure, uncertain global demand and decarbonization policies, will all increase the need to manage the flows and the volatility that drives returns for traders. In this episode, our guest, veteran oil trader Kurt Chapman, gives us a sweeping look at the state of crude oil trading in the run up to the pandemic and how energy transition will likely impact its future and what it means for related talent.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Biogas both prevents methane from entering the atmosphere and provides a carbon neutral fuel, making it a power tool in the energy transition and the fight against global warming. Yet it currently makes up only a fraction of the energy mix. Could this be set to change as renewable fuel credits, carbon pricing and waste management legislation around the world, push biogas to the forefront? Could this be a huge untapped opportunity for the commodities world? And if so, how can energy companies and traders execute on it. Joining us to discuss is John Rose, Chief Commercial Officer for Asset Finance Partners. John has had a long career as an Energy and Ags trader and has focused on financing, developing and commercialising biogas projects in Europe and North America for the past four years.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Are we truly in a commodity super-cycle? Or has a global pandemic, supply disruption, inflation and wishful thinking around energy transition created a short-term price increase and much hype. In this episode, we take a more nuanced look at the super cycle hypothesis and seek to understand whether energy, metals and ags will all see a secular macro shift up in prices in the coming decade. Our guest thinks not. Ivo Sarjanovic is a former Cargill executive and former CEO of Alvean, one of the world’s largest sugar traders and now sits on the boards of a number of commodities participants. He is also adjunct professor teaching agricultural commodities at the University of Geneva and Di Tella University in Buenos Aires.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Across the developed world, companies face the pressure to decarbonize by 2030. Right now buying long-term renewable power is the simplest option. However, in a decade will many wish they had built, or invested in, their own sources of renewable power? After all, what will the price of a PPA be in 2030 when everyone needs one. Guiding us through the rapidly changing landscape of corporations power supply chains is Toby Stanway. Toby is the founder of Invest Net Zero, a company focused on enabling businesses of all sizes to make a strategic investment in utility-scale renewable infrastructure as a cost-effective, robust and long-term solution to achieving decarbonization goals. Toby has 20 years in the energy industry and experience of mergers and acquisitions, investment analysis surrounding conventional and renewables infrastructure.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Is carbon the ultimate commodity and is it mispriced? For all participants in the commodities sector, how to engage in the carbon markets will shortly become a vital strategic question and an immense opportunity. In this episode, we dive into the current carbon markets around the world and their future. To guide us through, we are joined by Ariel Perez, a partner at Hartree Partners and one of the world’s foremost carbon market experts.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Earlier this month, host Paul Chapman moderated a Reuters webinar on the state of the crude and products freight market. After a very challenging 2020 for the sector, are things improving in 2021? What trends can we see in the short and long term? Discussing the current and future state of the tanker market are panelists: Richard Matthews, Director of Consultancy and Research at Gibsons, Peter Sand, Chief Shipping Analyst at BIMCO and Matthew Wright, Senior Freight Analyst at Kpler.
The webinar was part of the Reuters Events Commodities trading series which concludes with a virtual conference on 9-10 November 2021. Find out more on the conference and how to register your attendance Here.
To watch the recorded webinar click here.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Thank you for listening to the HC Insider Podcast. A quick update as we enter the summer season.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
With the launch of the Murban Crude Oil Futures, Abu Dhabi has signalled more than just a wish to price its own oil production. The futures herald Abu Dhabi’s desire to become the next global commodity hub, powered by its geographic centrality, proximity to Africa, legal code and infrastructure. Does the world need another hub? What about the crucial component of talent? Our guest is Mark Cutis, CEO of ADGM authority, the body tasked with providing the ecosystem and responsibility for leading Abu Dhabi’s growth as a leading financial and commodity powerhouse.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
In this episode we focus on the agri traders and agri trading. What differentiates agri trading from the other commodities? Is the recent return to form, after years of low returns, sustainable? Do the agri markets give us a window into the future for the other commodities, with its increased transparency, and consumer demands around sustainability and traceability? And if so, what lessons can be learned? Our guest is Jonathan Kingsman, well-known thinker and writer in the space. Listen as he guides us through the ups and downs of the agri trading world. You can find his blog at www.commodityconversations.com
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Investors, traders, ags, and energy businesses are investing in biofuels. Technology and decarbonization are driving the market. However, policy, crop yields, rising feedstock prices and public perception make it risky. Our guest Walter Cronin, Chief Commercial Officer at Green Plains, guides us through the global biofuels market and where we might go from here. Will renewable diesel overcome rising feedstock prices and the food for fuel debate? Are energy investors prepared for the uncertain world of crop yields? Has recent technological advances meant corn ethanol will be the dominant bridge fuel? What would changing policies in China and India do to the market? And what about that blend wall?
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Ammonia sits at the heart of the chemical industry and was the vital component in our first ‘green’ revolution, boosting global food production. Now, Ammonia could sit at the heart of the next ‘green’ revolution as a transporter for hydrogen atoms for fuel cells and as a carbon-free fuel in its own right. This is launching a surge in interest from the energy industry, just at a time when food and fertilizer prices are also rising. Is Ammonia a real contender in energy transition? What does this mean for the current and future of the Ammonia market? And who better to ask than a trader. Our guest is Christophe Savi, Managing Director of Ammonia at Trammo, the global commodity merchandiser engaged in the marketing, trading, distribution, and transportation of ammonia, among other commodities, for over 60 years.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Hydrocarbons have been a key driver of geopolitics and globalization over the past century. Even in the past decade, we have seen how US shale production and China’s energy security policies have dramatically changed the world. Now, peak demand and the energy transition is set to upend decades of global policy and economics – with a huge impact on the commodity markets. Will battery metals become the crucial natural resource? Will the electron revolution reverse globalization? We are delighted to have as our guest, Pulitzer Prize winning author and Vice Chairman of IHS Markit, Daniel Yergin. We discuss Daniel’s latest book – The New Map, Energy, Climate and the Clash of Nations and explore his take on the future of hydrocarbons and the impact of energy transition.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Blockchain has the power to revolutionize commodity trading by lowering transaction costs, boosting liquidity and, crucially, providing the mechanism to track, price and trust a range of ESG attributes, which consumers are demanding. But what is blockchain technology, tokenization, smart contracts etc? What about regulation, security and power consumption? In this episode we do a blockchain 101 and look into the commodity trading use-cases being developed by tech’s vanguards. Our guest is Clint Nelsen, a prolific blockchain entrepreneur and co-founder of Startup Weekend - the worlds largest grassroots ecosystem of tech entrepreneurs. Today, Clint is co-founder of Neo Holdings, (visit www.neo.co) a cross-industry coalition and group of companies focused on tokenizing commodities and their trading.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
To find out more about Neo visit www.neo.co
For commodities traders, trading around storage assets is nothing new. The same is becoming true in power. As the generation of power increasingly comes from renewables, batteries are seen as a key tool to manage the associated intermittent availability and short-term price volatility. These batteries provide a growing opportunity for power traders with the quantitative and technological capability to capture it. Will this be the dominant form of power trading in the energy transition world? Our guest, Aaron Lally, Managing Partner of clean tech trading business Vest Energy, provides his insight on the current and opportunity set, the participants and technology involved and the drivers behind it.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
We are in the foothills of a commodity super-cycle. Interest and investment is returning to the sector as the narrative of energy transition, inflation driven by policy, and scarcity in the wake of Covid-19, takes hold. What does this mean for traders over the next year and beyond? What are the trades? In honor of our 50th episode, we are delighted to welcome back our first ever guest John Massey, Head of the Houston Office for commodity trader ECTP. A year ago, John joined us to discuss the impact of Covid-19 on the commodity markets. He made some prescient calls including that Covid-19 would accelerate a re-balancing of the sector and lead to rising prices, rising opportunity, and rising interest. A year later, John discusses the super-cycle he foresaw and gives us his insight on the market opportunity and some predictions.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Electric utilities around the developed world face fundamental challenges to their business model as the way power is produced, transported, traded, and consumed is changing. Meanwhile, investors and policies demand rapid reductions in carbon emissions, rendering existing generation assets liabilities and promoting less consumption. Visibility to the customer is more crucial than ever to balance loads and service changing consumer habits. How can utilities meet these challenges and transform into more nimble, future ready organizations? Our guest Julia Hamm, CEO of the Smart Electric Power Alliance, gives us her insight into these challenges and how utilities in the US are responding. With disruption from all angles, will their actions be sufficient?
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Institutional investors and family offices want to invest in commodity hedge funds, as the narrative of the super-cycle and inflation drives both interest and return to form. Ryan Duncan of Bridge Alternatives provides his unique insider view of hedge funds’ performance in commodities over the past two decades and what themes and lessons can be identified for both the traders and investors. Will we see the fabulous returns (and volatility) of the last bull run? Or will structural changes that have affected performance over the past decade limit the future opportunity? What kind of investor can weather the volatility and risk inherent in the sector and what kind of trader?
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Lithium-ion batteries are the platform technology of electric revolution. The cells are standardized, produced under long-term supply contracts and demand is stratospheric. There is little free supply and delivery is in the future, with mega factories taking four years to build. The products themselves go into EVs and the power industry itself. Will batteries be the ultimate commodity of the future? Will trading houses have battery desks sat alongside their metals and power groups? Simon Moores, CEO and founder of Benchmark Minerals (www.benchmarkminerals.com) joins us for a deep dive on the battery industry. What is the supply chain? How does the market operate? What are the technology challenges with validating, shipping, storing, and marketing? And when will batteries be traded? Moores helps us to answer these questions.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
What will the commodity trading platform be like in 2030? In this episode, we examine ongoing change and trends in our sector and look at how these may play out over the next decade. We are in for some radical changes according to our guest who has spent significant time working on this subject. David Rae, BP’s former CIO Global Oil Trading and Head of Digital Innovation for Trading, guides us through a fascinating glimpse of the future including traders with heads-up displays out of a fighter plane and blockchain changing the nature of trading itself.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
In this episode, we do a deep dive into renewable diesel where the ag and energy worlds collide. Renewable diesel is currently being hailed as a key tool in the energy transition, tackling hard to abate fuels like aviation. Refiners are announcing big investments globally and both ag and energy traders are entering the feedstock space - where prices have risen dramatically. We start from the beginning on what renewable diesel is, the policies that underpin it globally, the technologies, and its supply chains. In this episode, we also look at the challenges from the food for fuel debate and whether feedstock supply can meet demand without undermining the policy goals that created it. Our guest is JW Hackett, a commercial development and policy expert in renewable fuels who has worked for the EPA and on the US Senate Committee for the Environment and Public Works and for the Renewable Energy Group.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
In this episode, Laurent Segalen, clean energy banker, trader, investor, and co-host of the Redefining Energy Podcast, joins us to discuss European power trading. Why is there a resurgence in power trading? Where are the opportunities now and, in the future, and who will be participating? We follow the story of power trading in Europe from the salad days of the 2000s driven by deregulation, through to the low price-doldrums of the 2010s, to the present day and beyond in the era of energy transition. What will generation, batteries, the grid and trading look like? What role will Hydrogen, digital platforms and blockchain play? Laurent guides us through it all.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Commodity Trading Risk Management systems sit at the heart of any commodity trading enterprise. Their design and implementation has been a huge source of pride for some, frustration for others and cost for all in the sector over the past 20 years. However, the role of a CTRM is changing with the broader digitization of the commodity sector itself. Now, CTRMs are becoming the digital core of an organization and must increasingly be understood by traders themselves and able to connect with external systems. Should organizations build or buy CTRMs? Will blockchains and DLTs disrupt the existing CTRM world? These are some of the questions our guest, Richard Payne guides us through. Richard is a Managing Partner at capSpire, a management consultancy focused on the commodity sector.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Globally, we have begun the transformation to the lithium-ion Economy. Mega battery factories are growing exponentially. The problem is lithium supply. Mining is constrained by available ores and multiyear start up times. Chemical processing and cathode production is technically challenging, environmentally impactful, and concentrated in China. EV manufacturers are buying all the Lithium supply they can on decade-long contracts. Lithium demand is forecast to outstrip supply by double in 2040 – even with the most optimistic forecasts. What does this mean for producers, commodity traders, financiers, governments and OEMs? How can the world tackle the problem of lithium. Simon Moores, CEO of Benchmark Minerals, the foremost independent pricing agency for Lithium walks us through the lithium supply chain and its consequences.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
In this episode we dig into rare earth metals - key elements for everyday technologies but also vital to the energy transition from electric motors to wind turbines. Beyond this, these elements have become of strategic national importance. We examine the supply chain and market structure, both historically with its booms and busts and whether the next cycle will be different and why. We also look at what the opportunities might be for commodity traders and investors. Our expert guest on this episode is Chris Goodman. Chris is on the board of Canada Rare Earth, a former executive of Talaxis, and has twenty years’ experience trading hard commodities.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
The atmosphere has too much carbon. This poses an existential threat to society and to the businesses emitting it, unless they start to capture it. Tackling carbon is one of the biggest challenges (and opportunities) in the commodities sector. Neo-classical economics suggest we put a price on carbon and let markets sort it all out. Unfortunately, the reality is so much more complicated – from geopolitics, to sources, measurement and verification. Jon Goldberg, founder and CEO of Carbon Direct and former hedge fund owner and Goldman commodity trader, guides us through this vital, urgent but complicated subject.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
In this episode, Javier Blas and Jack Farchy join us to talk about their new book, The World for Sale. The book spans the history of the rise of the independent commodity traders, their phenomenal success, and their impact on the modern world. Our guests walk us through the big themes in the book, the events and participants in the last commodity super cycle, and the challenges that lie ahead for these global actors in the next one.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Measuring risk is at the core commodity trading and Value At Risk is its most common expression. However, as frequent outsized and unexpected losses, stop outs and personnel departures attest, all our tools, especially VaR, are imperfect. How is risk measured and why do we get it wrong? What makes a good risk framework and what is the future of capturing market and other sources of risk in a digital world. Geir Robinson, former CRO of BP’s Integrated Supply & Trading business joins us to discuss.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
In this episode Jeff Currie, Global Head of Commodity Research at Goldman Sachs, walks us through the drivers and consequences of the coming commodity super-cycle. Over the next decade, redistributive policies, energy transition and the search for new sources of old and new economy commodities will drive a macro shift in prices across all verticals. What will this mean for the sector, commodity trading and its talent? Jeff gives us a concise and compelling argument and a call to action.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
The commodities sector is rich, of strategic national interest, at the center of geopolitics, and environmentally impactful. Thus, it is a focal target for cyber-attacks from criminals, national actors, hacktivists and others. As the sector digitizes, the threat and potential risks are only increasing. The threat posed and the responses required is a board level conversation for many companies - and our guest, Simon Hodgkinson, the former Group Chief Information Security Officer for BP, gives ample insight into why that should change.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Our guest, Arcady Sosinov, CEO and Founder of Freewire Technologies, believes Electric Vehicles present the biggest industrial change and opportunity in our lifetimes. With most major automobile manufacturers announcing phasing out combustion engines by 2035, we have passed the tipping point.
This transformation will have profound consequences and disruption for the commodities sector from the impact on power grids, to infrastructure, to market participants and to supply chains. Will your car manufacturer or a utility be your next power provider? Arcady guides us through why EVs are taking over, the interplay of customer behaviors and infrastructure and how this could lead to the biggest disruption in the energy word since the industrial revolution. We explore.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Commodities trading has always been about having an informational edge. About having better data. With digitalization, data is now produced in exponentially larger quantities and so has our capacity to process it.With digitalization, data is now produced in exponentially larger quantities and so has our capacity to process it. Traders are spending millions on collating and analyzing it. Why are they doing this? Can it lead to a lasting competitive edge? Or should we be skeptical given the monumental costs and challenges in applicability and implementation. What does this mean for the role of a commodity trader?
Alex Chandy, former energy trader and now CEO of 2DA, a data analytics software firm in commodities trading, gives us his insight.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Energy and commodity trading is complex (consider both its physical and financial nature), and so are the rules and regulations surrounding it. Multiple regulators, jurisdictions and standards can apply to a single trade and much is left to the judgement of the actors.
But the downsides to getting it wrong just once are enormous for organisations and individuals. In this episode we address compliance in the commodities world with Frank Hayden. What it is, what it means and how digitisation is changing how organisations, and regulators, manage it. Frank is VP Compliance at Calpine, a member of CFTC’s Market Risk Advisory Committee and Chair of the Energy Compliance Discussion Group with over 60 compliance professionals as members.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Every business faces ESG risks. Those risks are heightened in a sector defined by natural resource extraction and consumption, but so are the opportunities. The key to addressing these risks is having a good plan. A good plan can lead to more – cheaper financing, better valuations, differentiation, and talent attraction.
Not having a plan can lead to exclusion from markets, departing employees, and legal exposure. In this episode, we talk to Milena Lopez, CEO of Keops Consulting, which provides advisory services around sustainability - projects, origination, and financing - in the commodities sector. Lopez explores what is driving and changing the landscape, what the risks are, and how you can create a plan.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
In this episode we focus on Clean Hydrogen’s current and future role in transportation, from the aerospace industry, to shipping, to roads. What is the current state of the technology? Where will we see the biggest opportunities and change and what infrastructures will be required.Helping us to navigate the history and future of hydrogen in transportation is Cody Bateman, CEO and Founder of GenH2 (www.discoverhydrogen.com), whose technologies are revolutionizing Clean Hydrogen delivery at the retail level within transportation. Cody brings 30 years of experience in Hydrogen technologies including work with Nasa and the US Department of Energy.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
HC Insider Podcast host Paul Chapman, Managing Partner of Human Capital, looks back at this year’s episodes and discusses the key trends that were identified in 2020 in the commodities sector from a talent perspective.
Looking forward, he predicts what will be the pressing themes of 2021 and who will be in demand. For more information and a detailed analysis of 2020 visit www.hcInsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
By 2030, we will have a vibrant hydrogen economy. However, much investment is required to get to that stage and businesses and entrepreneurs need to commercialize projects far sooner than that to attract investors.
To that end, Calvin Johnson, Head of Commercial at Proton Technologies guides us through the various pathways available now to commercialize hydrogen along the value chain. A unique insight and must listen for all those interested in, or contemplating investing in, the hydrogen economy. Proton Technologies is a Calgary based technology company which produces clean hydrogen directly in the hydrocarbon reservoir.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Commodities is risky business. Individual traders have lost billions, companies have been sunk by ill-timed asset investments, and sanctions and tariffs can change a market overnight. The commodity market presents some unique risks to its participants, which is also why it can be an extremely lucrative sector. Risk management is designed to protect businesses from taking on unknown or too much risk, yet unforeseen losses and scandals continue.
In this episode, David Port guides us through the unique sources of risk in the commodities business, the tools used to manage them, and the factors that continue to contribute to outsized and unexpected losses. We also look at what firms can do to build more effective risk management platforms and the future of the discipline. David has a been Chief Risk Officer for Noble Group, Eon Global Commodities and Citadel, among others.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
It has been a challenging couple of years for crude oil producers. Low prices, reticent investors over the impacts of energy transition and now COVID. Nick Allen, General Manager of Global Crude and NGLs at ConocoPhillips, joins us to discuss the state of the crude oil markets and the drivers behind the current trends from acquisitions and consolidation to the surge in returns from trading books. Nick also gives insight into ConocoPhillips’ recent announcement regarding the proposed acquisition of Concho Resources and how the firm is approaching energy transition and handling the global pandemic.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Is sustainability another cost the commodity trading world must face or does it present one of the biggest opportunities for the sector over the next decade – bringing new products, new markets and new points of differentiation? And if investors, financiers and customers demand it, can participants afford to ignore it?
On November 10, 2020, Paul Chapman hosted a panel at the Reuters Commodity Trading Summit focused on sustainability and profitability in commodities trading. On the panel were Matthew Chamberlain, CEO of the London Metals Exchange and Andrew Lichter, VP Corporate Development and Strategy at the Mobius Risk Group. The panel discussed whether we need new products to capture sustainability attributes, how to build trust and track these products and what are the commercial drivers, the hurdles and opportunities for the commodities sector itself.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Will clean hydrogen be one of the most actively traded commodities in the next decade? Already exchanges are publishing prices and trading houses, shippers, utilities, and oil and gas producers are engaged in projects and building teams and regulators are discussing market structures.
In this episode our guest, Erik Rakhou of Baringa Partners, walks us through the factors and steps it will take to get there, the various initiatives underway right now, and the likely journey the market will take. This is an unmissable episode for anyone considering the commercial opportunities in clean hydrogen now and in the future.
To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Joining us to explain the why, what and how of hydrogen is Dr JJ Traynor, principal and co-founder of HydrogenOne Capital – an investment firm dedicated to the sector. JJ brings 30 years of energy and finance experience and walks us through the industry today and predictions about what (and where) it will be over the coming decades. Grey, Blue, Green and Turquoise, we cover it all.
Lower prices, lower volatility and increased transparency, led participants to exit and drive consolidation. Now that dynamic could be set to change as US production is under threat from low prices and weak investment and the US gas market goes global with LNG. Joining us to discuss the US Natural Gas market’s history and future is Peter Tumminello, Group President, Commercial Businesses, Southern Company Gas – a family of gas companies offering a range of products and services from storage, transmission and marketing and trading, which is a division of Southern Company, one of the US’s largest utilities.
2020 saw the creation of PipeChina to further streamline the market’s transportation and distribution. It is also a unique market with differences at the political, regulatory and market structure level (LNG is trucked around the country!). Is it the next big trading opportunity in natural gas? Will it go on to dominate LNG import market?
Joining us to discuss this fascinating market and its future is Mark Lay, Deputy General Manager of Derivatives Trading at ENN – the country’s largest publicly traded utility and natural gas distributor.
Joining us to discuss three big ways the market will change over the next 5 years is Simon Collins, CEO and Founder of TradeCloud, a Director at EdgePetrol and former Head of Bulk Trading at Trafigura. Simons uses his wealth of experience in running trading businesses and in launching, and investing in, technology centered solutions to the commodities sector to give us his take on where, how and to whom change is coming.
It has also brought losses as investors and investments have been challenged, and even surprised, by the risks in commodities. Furthermore, it may also be facing an industry reckoning of epic proportions in the shale industry. Joining us to discuss PE is David Port, a partner at TDI Capital advisors, and commodities market veteran.
Often, energy and natural resource production is located in areas more prone to climate change, and frequently in emerging market nations, climate change risks highlight the protection/risk transfer "gap" that can lead to economic or political instability.
A recent Commodities Futures Trading Commission (CFTC) report highlighted the risks posed by climate change while urging the development of new products and derivatives needed by businesses to manage the risks. In this episode, Brian Beebe, Head Origination Weather & Energy Americas, at Swiss Re Corporate Solutions, gives us a guided tour of what businesses face and the innovative risk transfer tools available and in development to manage and even profit from the change.
Will COVID-19 accelerate changes to how commodities are traded? Will we see more failures and further pull back of trade finance? Or will COVID-19 trigger a resurgence in opportunities for trading businesses with a retrenchment in globalization and a new concern of supply chain security. Craig gives us his insight and even some predictions.
We look at the common attributes and behaviors required to be a successful trader. We examine how the environment of the trader can support or hinder performance. We look at how motivations and performance can change over time and what career paths are open to individuals. Finally, we look at how the skillset itself is changing as technology continues to evolve the role.
2020 has highlighted how trading platforms can protect natural resource producers price shocks and boost earnings through extracting more value from the products and with better reach into the market place. Those oil majors with trading groups have significantly outperformed their peers without. With producers of natural resources around the world building or retooling trading platforms in response, it is a good time to consider what a trading business is, what it can offer and what factors lead to success or disaster. Colin and his partners at Energex draw on their real world experience at the very top level in this industry to help organizations master this difficult business and he shares his insight with us.
Roy makes a compelling argument that all investors should follow the commodities sector and expands on the asset class' role in portfolio theory. Roy was involved in the creation of the first commodity index so we walk through some of the types of products available to gain exposure and express positions. We also look to the future. With COVID, Energy Transition and host of new commodities becoming ever more relevant, Roy also discusses what the future might hold for investors in the sector. We even touch on cryptos and water.
Far from being just a domestic US affair, this election promises to be one of the most consequential for the global energy and commodities sector in decades, given the stark differences between the two contending platforms. Robert gives us his insight on what those differences are and the consequences for markets and businesses operating in the US and around the world.
Roland is one of the leading thinkers in the commodities sector and Global Head of Oil & Gas, Mining & Chemicals at Oliver Wyman
Roland is one of the leading thinkers in the commodities sector and Global Head of Oil & Gas, Mining & Chemicals at Oliver Wyman
Why the Solar Decade and what will that mean in terms of scale? What are the benefits for generators and investors? Is it geographically restricted by sunbelts? How will the solar decade change the competitive landscape for current participants? Why has the solar decade not already happened, and will it need governmental support? What does it mean for power traders and risk managers? What will be the key trends in development and deployment as we progress through the next decade?
What challenges did refiners and integrated majors face at the start of 2020? What were the various strategic responses at that time? What did the arrival of COVID-19 do to that picture? How can you balance investing in transition with declining demand and prices? If value chain optimization and data unlock that what are the operational and cultural shifts required? Who will be the participants? Do the trading houses have a role to play?
How is the chemicals sector categorised and what is its economic scale and importance? How has the market, opportunities, and participants changed in response to the pressures all commodity markets face from disintermediation and digitisation? Why has it been a challenging space for traditional commodity producers and traders? The chemicals sector remains fragmented compared to other commodities – is this an opportunity for the big commodity houses? Are Amazon and Alibaba a threat? Can chemicals companies be both commodity and specialty focused? How has Covid-19 affected the sector? How do the chemicals markets compete for human capital?
What is the state of the US power grid? What is driving change and what trends can we discern? What is the power grid of the future? What could hinder or accelerate that transformation – role of investment and regulation? What opportunities does that present and who will capture it? What does that mean for the power trader of the future? The rise of the nodal trader and big data. The likelihood that big tech will take over the power markets. What time frame are we talking?
What is the background to and impact of negative oil prices? What was the impact of Dodd-Frank on financialization of commodities market? Given recent scandals in Asia is more regulation needed? How prevalent are algorithms in the commodities world? What does this mean for active vs passive trading? What have been the catalysts to changes in the market? What's the long-lasting impact from covid-19 on commodities space? What is the future of commodities as an asset class? Who are the institutional investors?
What is unique about financing in and for the commodities markets? What have been some of the major trends and changes in client expectations since the global financial crisis? Impact of COVID-19? What can banks and clients do to protect themselves? Digitalization and the bank industry's role? ESG and the commodities sector?
How have the LNG markets changed in the last decade? How will local markets respond to a more globalized gas market? What opportunities does that present and who (and how) can capture it? What do these changes mean for natural gas producers? Has COVID19 impacted these trends?
What differentiates the ags markets in South America compared to Europe and North America? What are the unique challenges and opportunities? How can digitalization tackle these locally and globally? What are implications for other commodities? How have the trade wars changed the markets? Impact of COVID19 on these trends?
What are the most prominent changes in the metals trading space over the past decade? What has driven this changes? How have the participants changed? What role has technology played? What has been the impact of hedge funds and institutional money? What does this mean for metals trading talent? How has coronavirus impacted these trends? What is GMI strategy given these changes?
