In Part One of our miniseries on Asset-Backed Trading, Savvas Manousos and Niels Henrik Lindegaard join us to discuss why commodity producers, refiners and wholesalers are developing value-chain optimization through trading and the basic building blocks. What are the key drivers behind this global trend? What are the key decision points around people, platform and operating model? What approaches and resources best ensure success? Savvas Manousos spent 25 years with BP before developing global Asset-Backed Trading platforms at Reliance, Maersk and CEPSA. Savvas is now an Enco Insight Partner at HC Group’s sister company Enco Insights, providing independent, peer-to-peer, advisory to organizations embarking on this journey. Niels Henrik Lindegaard spent 40 years with Maersk and spent a decade leading their trading transformation through Maersk Oil Trading.

For more information on Enco Insights visit www.encoinsights.com

In this episode, we dive into Liquified Petroleum Gas trading. What is LPG used for, where is it produced and how has the market developed since the advent of shale? How is trading LPG different from other commodities and what does it herald for other fuels? What is its role in the energy transition and what is its future? Our guest is Jack Nugent. Jack brings a unique perspective. From his early days in LPG broking, to living and working in both Europe and Asia as a LPG trader, he later co-founded his own successful LPG trading company. Jack is the CEO and Founder of Tradavex, a consultancy that helps organizations bridge the interface between technology and business.

Relevant Links

www.encoinsights.com

www.hcgroup.global

www.tradavex.com

Today we return to the fuels industry. What is the latest in global fuel supply and demand? What is the impact of ongoing electrification on fuel demand? Have we seen peak gasoline demand even in the US? And how is AI and technology changing fuels trading and the convenience industry that attaches to it? Returning to the show is Doug Haugh. Doug has over twenty five year’s experience working in the energy, technology and convenience retail industries. He serves on the board of Bioblend Renewable Resources, Trux and Ergon and Board Chairman at New Tide AI

For more on HC Group visit www.hcgroup.global

For Enco Insights visit www.encoinsights.com

How did seed oils and biofuels fair in 2024? Wild price swings dominated as the markets reacted to changing yields and biofuel demand. At the same time, the markets braced for a change in the US administration and the policies left ill-defined by the previous one. Why did the US suddenly become the world’s largest Used Cooking Oil importer? What could 2025 bring? And what will the Trump Administration bring – not least with RFK’s views on seed oils and health? Returning to the show is Walter Cronin. Walter is the co-founder and president of White River Nutrition, a soy processing company dedicated to better nutritional outcomes via superior vegetable protein meal. Walter's an investor and on various boards across the agri and renewable fuels sector.

Link to Argus Global Crude Conference: https://www.argusmedia.com/en/events/conferences/americas-crude-summit/agenda

Another global commodity, present in our daily lives, without an established price index or futures contract, with a unique supply chain: Tea. How does Tea reach our tables? Where does tea come from? How does it trade? And how is the tea market navigating climate change, ever lower prices and changes in demand? Indeed, which nations drink the most tea? Our guest is Jem McDowell, Vice-President of Trading and Universal Commodities (Tea) Trading Inc. Jem is based in the US but has had a global career in trading tea.

For producers, refiners, processors & miners building a risk management and trading capability is moving from a value-add to a ‘must have’. However, building such a capability is a challenge, requiring a clear plan to win, constant communication and the right operation model and systems. Over the last 5 years some transformations have succeeded, others remain stalled. What are the key accelerators and derailers in such a process? What are the people implications – both the required leadership and the skill-sets needed. Our guest is Talis Bennett-Verschure, Director of Commodity and Energy Trading at the management consultancy Baringa, who has been at the forefront of helping organizations build this vital capability.

www.encoinsights.com

www.hcgroup.global

Ten percent of the global tanker fleet has gone dark and the number is growing. What is the Dark Fleet? Why does it exist and why is it growing? Who is using the fleet and who owns it? What are the risks for the market, the environment and traders? And what does a shadow fleet mean for world security and criminal enterprises? Our guest is David Tannenbaum, Director at Blackstone Compliance Services, a sanctions and anti -money laundering advisory group, providing support to financial institutions and commodity trades alike and a Partner at Polestar Global, a sanctions and maritime intelligence firm where he runs the threat intelligence group.

https://www.blackstonecompliance.com/

www.encoinsights.com

www.hcgroup.global

A brief final episode of 2024. Host Paul Chapman reflects on some of the key themes of the year, offers his deepest thanks to listeners, guests and his colleagues at HC Group (www.hcgroup.global) and Enco Insights (www.encoinsights.com) and looks at the coming year and goals for the podcast.

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