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CAPITAL LINK JAPAN MARITIME SERIES PART 1 – WEDNESDAY, DECEMBER 9, 2020 | 5:00 PM Tokyo | 8:00 AM London | 10 AM Athens

NAVIGATING THE DECARBONIZATION CHALLENGE - BUILDING THE SHIPS OF THE FUTURE

Overview

The reduction of greenhouse emissions is the next challenge which will have transformational impact on the industry. Regulators, fossil and alternative fuel producers, engine manufacturers and shipbuilders, shipowners, charterers, financiers and a wider range of industry participants need to come up with a workable and sustainable framework. The panel will discuss strategies, options and initiatives in this direction as the industry sets out to address the complexities involved.

Moderator: Mr. Stian Sollied. Country Manager – DNV GL Japan

Panelists:

Mr. Tomoyuki Koyama, Senior Managing Executive Officer – NYK

Mr. Takeo Akamatsu, Deputy General Manager, Marine Department – Itochu

Mr. Michihiko Nakano, General Manager, Bunker Business Division – Mitsui O.S.K. Lines

Mr. Naoki Ueda, Executive Vice President – Mitsubishi Shipbuilding

Overview

 Draft new mandatory regulations to cut the carbon intensity of existing ships were approved on November 20, 2020 by the International Maritime Organization (IMO) Marine Environment Protection Committee (MEPC).

In essence, they will require the world’s existing fleet to match at least the efficiency standards of newbuildings. These draft amendments will be circulated among IMO member states in view of their adoption in June 2021 (MEPC 76) with the expectation to enter into force by 2023.These are deemed to be in line with the ambition of the 2018-adopted initial IMO Green House Gas (GHG) Strategy to reduce carbon intensity of international shipping by 40% by 2030, compared to 2008.Proposed amendments to the MARPOL convention would require ships to combine a technical and an operational approach to reduce their carbon intensity.The technical requirement to reduce carbon intensity is based on a new Energy Efficiency Existing Ship Index (EEXI) whose standards will be largely equivalent to the current Energy Efficiency Design Index (EEDI) for newbuild ships.The operational carbon intensity reduction requirements are based on a new operational Carbon Intensity Indicator (CII) rating ships for fuel efficiency between A and E, with ships rated D and below falling under the minimum standard. This dual approach aims to address both technical (how the ship is retrofitted and equipped) and operational measures (how the ship operates).Finally, there is a mandatory Ship Energy Efficiency Management Plan (SEEMP) for all ships. The SEEMP provides for ship operators to have in place a plan to improve energy efficiency through a variety of ship specific measures. Compliance with the SEEMP will be monitored.Roel Hoenders, Acting Head of Air Pollution and Energy Efficiency of IMO’s Marine Environment Division will take us through all the details of the recently agreed measures to reduce carbon emission by 2030.After a half hour slide presentation, there will be a Q&A session for another half hour plus, where participants can submit their questions live. 

Speaker

Roel Henders, Acting Head of Air Pollution and Energy Efficiency, Marine Environment Division, International Maritime Organization (IMO)

Rates and Charter Periods Continue to Improve - Constantin Baack, CEO, MPC Container Ships Optimistic on the Intra-Regional Container Shipping Market:

"With a slight time lag, charter rates also started to improve. Initially, for larger tonnage, but subsequently, also for smaller units and current rate levels are, in fact, significantly above 2019 levels. In fact, the charter market is booming and not only has the idle tonnage come down and the rates increased, also the charter periods have improved significantly.. Higher charter rates in combination with longer charter periods is extremely good for container tonnage providers and a good indicator of where the market stands” comments, CEO Constantin Baack of MPC Container Ships during its 3Q 2020 earnings call.

"Optimistic on Tanker Market Outlook"

Nikos Tsakos, Founder and CEO of TNP, during Q3's 2020 earnings call on November 23, expressed his optimism about the tanker market outlook:

“The epidemic, the dire market conditions and confusion on propulsion technology has created the lowest supply in tankers and vessels in general for a generation. Furthermore, I think that with the confusion of all the regulations coming out, shipowners very rightly so are preferring to slow steam rather than find other solutions in order to achieve the environmental targets, their emission targets that are being set as recently as last week by the IMO.

So in general, I have the feeling that, unless something really drastic, unless we get a third severe wave, and I'm knocking on wood, of the virus hitting us any time after Christmas, we are getting as close of being out of the woods as possible and better days are ahead of us.”

After a review of recent trends and developments in capital raising activity in the US markets, our webinar will delve into innovative mechanisms that allow foreign issuers to access the US capital markets.

We will cover options such Direct Listings, Quotation Listings, SPACs and traditional IPOs. Pioneered by NYSE, Direct Listing is a whole new avenue for private companies to get listed on a US Exchange.

The discussion will touch upon the following areas:

How can private companies achieve a Direct Listing in the US without the traditional IPO process?

 How can publicly listed companies on non-US Exchanges get listed in the US with or without capital raising?

How can non-US companies get a US listing through SPACs - What are the requirements, process, cost and timetable for each option?

How do they compare to traditional IPOs?

What are the advantages for issuers and investors?

Moderator: Nicolas Bornozis, President, Capital Link

Panelists:

- Alexandre L. Ibrahim, Head of International Capital Markets, NYSE

- Edward Horton, Partner, Seward & Kissel LLP

One–on–One Discussion between:

- Paolo d’Amico, Chairman – INTERTANKO; Executive Chairman & CEO – d'Amico International Shipping S.A. (BIT:DIS)

- Ben Nolan, Managing Director - Stifel Financial Corp

This in-depth discussion will focus on three main verticals:

D'Amico International Shipping' s development, strategy, market positioning and competitive advantages.

The product tanker market – market trends and fundamentals, supply & demand, orderbook, sector outlook.

Industry issues – regulation, technology, environmental issues, ship safety & security and more. As the CEO of one of the major independent product tanker owners and Chairman of INTERTANKO 2018-Present, has deep insight on the industry’s direction and outlook.

For more information please visit: http://webinars.capitallink.com/2020/damico/

 

Overview

Women in Maritime: it’s been a permanent fixture on the shipping agenda for a few years but have there been genuine improvements on gender equality? How are these changes measured and what does success look like? This panel discussion will evaluate effective mechanisms for change, the value of quotas and whether virtual ways of working as a result of COVID-19 has opened more opportunity for women working in the marine and offshore industry.

Moderator: Nicola Good, Head of Brand and External Relations for Marine and Offshore, Lloyd’s Register

Panelists:

Christa Volpicelli, Managing Director, Global Transportation Group, Citi

Lois K. Zabrocky, President & Chief Executive Officer, International Seaways

Cecilia Österman, PhD, Senior Lecturer in Maritime Science, Linnaeus University

Caroline Yang, CEO, Hong Lam Marine Pte Ltd; President, Singapore Shipping Association

Dora Mace - Kokota, Partner, Stephenson Harwood 

Despina Panayiotou Theodosiou, co-CEO, Tototheo Maritime; President, WISTA International

July 29, 2020

Overview

• Landscape of crew changes – practical aspects & challenges• Impact on seafarers well being and on ship safety• Cooperation between the Industry and Governments – where are we and what is needed• Technology – Impact on the role and function of crew now and in the future• Commercial Aspect vs. Safety – What is the trade-off? What measures are taken to ensure the safety of crew members?• Retention & Recruit of Seafarers – Impact from current crew crisis impact.• Diversity - How do you make seafaring careers more attractive for women?

Sponsored by: ShipMoney and Steamship Mutual

Moderator: Eric Martin, News Editor - Tradewinds

Panelists:

Andreas Hadjipetrou, Managing Director - Columbia Shipmanagement Ltd

Stamatis Bourboulis, General Manager - Euronav Ship Management (Hellas) Ltd.

Frederick Kenney, Director Legal Affairs & External Relations - IMO

Guy Platten, Secretary General - International Chamber of Shipping

Stuart Ostrow, CPA, Founder and President - ShipMoney

Chris Adams, Managing Director - Steamship Mutual

Overview

Discussion on Hong Kong’s new tax concessions for ship lessors

Advantages for ship leasing companies operating out of Hong Kong

Qualifications & Requirements

Implications and significance for lessees

Speakers:

Benjamin Wong, Head of Maritime Cluster - Invest Hong Kong, The Government of the Hong Kong Special Administrative Region

Lu Zhendong, Deputy Head of Shipping Finance Department - Bank of Communications Financial Leasing Co., Ltd.

Bill Guo, Executive Director -  ICBC Leasing

Edward Liu, Legal Director -Hill Dickinson Hong Kong; Principal Representative - International Chamber of Shipping (China) Liaison Office

Tat Pan, Partner - ReedSmith

Deep Dive into TEN & the Tanker Sector

Overview

This in-depth discussion will focus on three main verticals: a. TEN’s development, strategy, market positioning and competitive advantages. b. The tanker market – with main focus on the crude and product markets, as well as on the LNG market – market trends and fundamentals, supply & demand, orderbook, sector outlook. c. Industry issues – regulation, technology, environmental issues, ship safety & security and more. As the CEO of one of the major independent tanker owners and Chairman of INTERTANKO 2014-2018, Dr. Tsakos has deep insight on the industry’s direction and outlook.  

One-on-One Discussion between:

Dr. Nikolas P. Tsakos, Founder and Chief Executive Officer - TEN LTD (NYSE:TNP); Chairman - Intertanko, 2014-2018

Randy Giveans, Group Head of Energy Maritime Shipping Equity Research - Jefferies