When: 5-6 June, 2013 | Where: Thomson Reuters, Hong Kong

Register at: theice.com/bunkerworld

COURSE OVERVIEW

This is the first in a series of a brand new two-day training course for the marine fuel market, which introduces bunker risk management best

practice to delegates by teaching analytical approaches and hedging skills. The trainer(s) will share a host of practical tools that will help a

business reduce and manage its risk whilst improving profit in its inventory and supply chain.

The course costs £1,400 and all delegates receive a further 25% off a Bunkerworld Plus subscription once registered. By learning how to

manage price bunker risks using specific tools that are available to you in the market, you will add a new layer to their business skill-set.

Headlines of the course comprise of:

• Overview of the marine fuels market (pricing hubs, clearing collateral)

• Risk dimensions in oil markets

• Environmental issues and their impact oil markets

• Understanding energy price behaviours

• Understanding bunker credit risks

• Risk management aims

• Hedging methods and techniques

Throughout the course, three case studies will provide hands-on, practical experience to explore several scenarios in corporate situations for:

1. A bunker supplier with storage

2. A shipping firm

3. A trader

Bunker Risk Management CourseA practical introduction to developing best practices

WHO IS IT FOR?Bunker Credit Managers • Heads of Trading Teams • Regional Sales Directors •

Finance Executives within fuel buying organisations

Bunker Risk Management Course 2

ABOUT THE SPEAKERS

THOMAS JAMES, CO-FOUNDER OF NAVITAS RESOURCES

Tom’s career began in the early 90’s developing and executing the first hedging and risk

management programmes in oil markets for key Asian refiners including Nippon Oil, Cosmo

Oil, Petronas Malaysia, CPC of Taiwan, Sinochem, PTT of Thailand, and many others. His

expertise covers Oil, Gas, Bio Fuels, LNG, nuclear and Global Commodity markets including

Emissions, agricultural markets, and base metals.

Tom is an International Natural Resource executive with a broad 23-year career in natural

resources trading, risk management, investment banking and knowledge based services. A

business architect with a proven track record for building and developing businesses in this sector. Through his work for investment banks and

trading firms at Director level, and as a head of trading, Tom has had the opportunity to prove his abilities in leading, motivating and building

successful teams of traders and developing profitable cross-asset strategies. He has successfully developed and managed commodity and

energy related businesses throughout his career. In recent years Tom has shared his experiential learning by authoring a range of professional

books in energy and commodities. These have become core reading materials for professional examinations at universities and the Energy Risk

Professionals’ Examination (ERP) administered by GARP: garp.com

Tom co-founded Navitas Resources — navitasresources.com — in 2009, an energy and commodity knowledge-based services group,

headquartered in Singapore with associates at key locations around the world. Clients include some of the world’s major energy and mining

firms, investment banks, consumers, and state owned enterprises in this sector. Joint ventures include a strategic partnership agreement with

Thomson Reuters group and a joint venture with the Intercontinental Exchange — ICE Education — it provides market risk, credit risk and

strategic management consulting to energy and commodity firms.

JOHN PHILLIPS, M.D. OF OCEAN INTELLIGENCE PTE, SINGAPORE

John Phillips was Global Credit Manager for Chemoil before joining Ocean Intelligence as

Managing Director. Prior to that John worked at Lloyds MIU for seven years, where he was

Operations Manager.

John has over thirty years in the maritime sector, covering ship agency, tanker operations and

chartering, ship-broking, liner services, project cargo to reefer trades, credit management,

and credit reporting. John has worked in a range of businesses across a number of regions

namely the UK, Saudi Arabia, Greece and Singapore, from SMEs to international independent

oil companies where he has held positions up to Managing Director. John is a regular key speaker and chair at industry events and has regularly

spoken at Plymouth University and Cass Business School. A Chartered Shipbroker, John is also a Chartered Member of the Institute of Logistics

and a Member of the Energy Institute; he holds an MSc in Port Management and a BSc (Hons) in Maritime Business with Maritime Law.

JERRY LORENZO, EX-CFO CHEMOIL GROUP

Mr. Jerome (Jerry) Lorenzo has been the Chief Investment Officer of Footprints Investments

(Pte) Ltd since 2011 and is responsible for the administration and performance of the Group’s

portfolio. He also serves as Director to a number of subsidiaries within the Group in the

Singapore, Philippines and the USA.

Prior to Footprints Investments, Jerry served as Chief Financial Officer of Chemoil Energy

Ltd. and was instrumental in the company’s public listing in the SGX in 2006. He was with the

Bunker Risk Management Course 3

Chemoil group for almost 14 years serving in different capacities in San Francisco, The Netherlands, Monaco and Singapore covering the areas

of Strategic Planning, Business Development, Accounting, Finance, and Enterprise Risk Management. Jerry also was a non-executive Director

for California Software Company Limited (Calsoft) from 2009 to 2011. Calsoft provides product engineering services and technology-driven

Business Solutions that help meet the business objectives of its clients.

Jerry received his Bachelor’s of Science degree in Finance and Real Estate from California State University of Northridge and his Master of

Business Management degree from The Asian Institute of Management.

COURSE AGENDA — DAY 1

09.00 Registration

09.30 Introduction to the course and structure

09.45

Global Energy Markets:

• Marketoutlookbalance2012/2013supplydemand

drivers

• Reviewofenergypricebehaviour

• Forwardpricecurveanalysis

• Globalpricelinksandkeynews/fundamental

drivers

10.45 Coffee break

11.15

Bunker pricing:

• Pricingmechanisms-Gasoil,Fueloil

• Assessingspotprices

• Benchmarkingthebunkerindustry

• Makingthemarkettransparent

• Solutionsforaccuratepricing,linkswith

crude oil markets

12.30 Lunch

13.30

Bunker price risk management - Part One:

• Theriskmatrix-introduction

• Pricerisk,creditrisk,liquidityrisks,basis

risks, legal risks

• Riskmanagement-when,where,how,key

structure to successful hedging

• Timing-practicalappliedpriceanalysis

techniques for fuel, gasoil and crude

markets to assist with hedging timing

technical analysis i.e. when to hedge

15.00 Coffee break

15.00

Bunker price risk management - Part Two:

• Timingcontinued-practicalappliedprice

analysis techniques for fuel, gasoil and

crude markets to assist with hedging timing

technical analysis i.e. where to hedge

• Reviewoftheavailablederivativemarkets

for bunker hedging

• Derivativestructuresutilisedinoilhedging-

with practical examples

17.00 Close

COURSE AGENDA — DAY 2

09.45

Bunker price risk management - Part Two

Continued:

• Derivativestructuresutilisedinoilhedging

using practical hedging examples

• Cashflowmanagementinfundingderivative

hedges

• Thebenefitsofhedginglinkedtofinancing

from a bunker trader perspective and a ship

owner perspective using practical examples

10.45 Coffee break

11.15

Advanced hedging techniques - options and

risk management:

• Usingenergyoptions:hedgingand

speculation

• Reviewofoptiontypes

• Understandingoptionpayoffs,risk

management, market risk management in

energy markets

12.30 Lunch

13.30

Credit risk management - practical

applications of credit risk procedures, experts

share industry experiences. This practical

session will enable delegates to successfully

assess and understand credit risk procedures.

Topics covered include:

• Assessingcounterpartyrisk

• Lookingbeyondthenumbers:whatdo

financial statements actually mean?

• Supportmechanisms:creditagenciesand

credit insurance

• Benchmarkingcustomerbaseand

extracting best capital at risk

• Thepracticalapplicationofcreditrisk

strategies

• IntroductiontotheOceanIntelligenceCAM

15.00 Coffee break

15.30

Finance in bunker business:

• Securitisation

• Approachestooptimiseyourbusinesscapital

17.00 Close

Bunker Risk Management Course 4

VENUE

Thomson Reuters Hong Kong

42/FGloucesterTower,Landmark,Central,HongKong

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