The Future of Danish Shipping - IBC Euroforum

CONFERENCE ONLINE REGISTRATION www.ibceuroforum.dk/shipping
COPENHAGEN
25 th and 26 th MARCH
Register
by 6 th February &
SAVE DKK 1500
2009
WORKSHOP
24 th MARCH
2009
The Future of Danish Shipping
• Trends and developments within the shipping industry
• Outlooks: China – Ship building – Oil and Bunker
• Legislation – What to expect from the EU?
• Climate issues: Reduction of CO2 emissions and sulphur
discharge
• Recruitment and Education: How to attract staff and
ensure ones’ staff retains and enhances their expertise and
knowledge
• Piracy – procedures for dealing with pirates
• Aftermath of the financial crisis – what can we expect?
WORKSHOP: Working Capital in the shipping industry
NETWORKING DINNER AT PAUSTIAN,
one of Copenhagen’s Michelin nominated restaurants
YOU WILL AMONG OTHERS
EXPERIENCE THE
FOLLOWING SPEAKERS:
Managing Director
Peter Bjerregaard
The Danish Shipowners’
Association
President &
CEO Clipper Projects
Per Gullestrup
Clipper Group
Head of Regulatory Affairs
L. Robert Pedersen
A.P. Møller – Mærsk
Senior Vice President
Henrik Franck
Maersk Broker
Managing Director
Jan Knudsen
A/S Global Risk
Management Ltd.
www.ibceuroforum.dk

SPEAKERS:
Managing Director
Peter Bjerregaard
The Danish Shipowners’
Association
President & CEO
Clipper Projects
Per Gullestrup
Clipper Group
Senior Vice President
Henrik Franck
Maersk Broker
Senior Analyst
Flemming J. Nielsen
Danske Bank A/S
Managing Director
Jan Knudsen
A/S Global Risk Management
Ltd.
Senior Director,
Guarantees and Project
Finance,
Henrik G. Welch
Eksport Kredit Fonden
Head of Regulatory Affairs
L. Robert Pedersen
A.P. Møller – Mærsk
Professor
Oli B.G. Madsen
Institute of Transport
Executive Vice President
Claus Usen Jensen
TORM
Partner
Alex Laudrup
Gorrissen Federspiel
Kierkegaard
Senior Analyst
Nikolaj Kamedula
FIH Erhvervsbank
Head of Shipping
Lars Kyvsgaard
Nordea
CHAIRMAN:
Lawyer Jørgen Hammer Hansen, Kaalund & Partners
WORKSHOP FACILITATOR:
Manager Michael Schrøder, Ernst & Young
TARGET AUDIENCE
Titles: CEO’s, CFO’s, CIO’s, VP’s, Heads of business units, Chief Analysts, Senior General Managers, General
Managers, Operating Managers, Interest Organisations and Shipping Analysts.
At: Shipping Companies and related businesses
Besides this: Consultants, Banks, Transport Companies and Administrative Suppliers to the shipping industry
2

WHERE IS THE DANISH SHIPPING
INDUSTRY HEADING?
As the world faces what is possibly a deep recession, a credit crunch and growing instability, the
need to unite and exchange knowledge within critical areas is greater than ever before.
IBC Euroforum is proud to welcome you to one of the largest shipping conferences held on Danish
soil. Denmark’s key position within the world sea trade, the close geographic situation of the various
company head quarters and the cultural correspondence between the Danish firms allows for
a unique opportunity to exchange knowledge on experiences, disseminate information, learn from
others and, with relative ease, implement the most useful ideas in day-to-day business practices.
In order that we all start at the same point, you will be given an in-depth look at current trends within
the industry including piracy and, of course, informative outlooks into key topics like ship building, oil
and bunkers and China. We will then adress how you can deal with the credit crunch and how you
can finance new ships and insure against non-payment in a credit scarce market with the help of the
Danish Eksport Kredit Fonden.
Danish shipping companies are front runners when it comes to discharge and emission initiatives.
Learn what is being done in order to cope with the optimistic reduction goals for sulphur discharge
and participate in the debate on reduction of carbon dioxide emissions. You will also be given an
overview of key EU legislative issues currently under discussion, future legal initiatives and how
these could affect your business.
Finally, we will touch upon the challenges of educating and recruiting crew and staff and whether or
not, due to the recession, mergers and/or acquisitions will become form part of the strategic agenda
for shipping companies and if so what should be considered when faced with a possible merger.
Workshop – Working Capital in the shipping industry
With a fully blown credit crunch affecting the lending market, it has become necessary to focus on
internal liquidity. Ernst & Young has facilitated a workshop addressing how working capital management
can be used to fund existing fleets or construction of new buildings. This workshop will provide
approaches on how shipping related working capital and management issues can be optimized. The
workshop is conducted by a former A.P. Møller – Mærsk employee, Mr Michael Schrøder.
Networking Dinner
We have made an excellent dinner arrangement with the Michelin stared restaurant, Paustian, at
Nordhavn. Participate in an informal event of an hours’ networking with light refreshment followed
by a three-coursed networking dinner with wine and coffee. Use this opportunity to meet colleagues
from the industry and discuss the days impressions and issues while being waited on by the experienced
staff of Bo Bech.
I’m looking forward to meeting you and your colleagues at a great event where the future of the
Danish shipping industry is discussed and shaped.
Best regards
Peter Gerdes
Project Manager, IBC Euroforum
3

TUESDAY, 24 TH MARCH 2009
W O R K S H O P W O R K S H O P W O R K S H O P
OPTIMIZATION OF WORKING
CAPITAL MANAGEMENT IN THE
SHIPPING INDUSTRY
Working capital management can be used to fund an existing fleet or new buildings.
This workshop will provide ideas and approaches on how specific shipping related
working capital management issues can be optimized.
Some of the issues could be:
• Revenue Recognition: ”Cargo in transit or on water”
• Invoice triggers and hidden credit
• Collection process and dispute management – ”blocking of cargo,
not releasing B/Ls etc.”
• Pool settlements and other outlays
• Bunkering – how to minimize bunkers on board?
The workshop will focus on the below four areas with specific focus on shipping:
Process compliance
Identify where existing working capital management processes are not operating
as planned
Process optimization
Challenging individual steps of key working capital processes with the aim of identifying
opportunities retain cash within the business for longer
Commercial terms
Understanding the scope to realign terms
Forecasting accuracy
Forecasting accuracy review and ”root cause” analysis of variances
4

TUESDAY, 24 TH MARCH 2009
W O R K S H O P W O R K S H O P W O R K S H O P
OPTIMIZATION OF WORKING
CAPITAL MANAGEMENT IN THE
SHIPPING INDUSTRY
Approaches used to identify opportunities:
• System downloads
• Data analysis
• Benchmarking
• Walkthroughs
• Opportunity valuation
• Management interviews
• Opportunity validation
• Action plan development
Program
09.00 Workshop starts
12.00 Lunch
13.00 Workshop resumes
15.00 Workshop ends
Breaks will be put in when needed.
Workshop Facilitator: Manager Michael Schrøder, Ernst & Young
Before joining Ernst & Young, Michael Schrøder was employed by A.P. Møller – Mærsk,
hereunder Mærsk Line with working capital management as his main focus area.
Target Audience for the workshop
Titles: CEO’s, CFO’s, CIO’s, VP’s, Head of business units, Chief Analysts, General Senior
Managers, Operating Managers.
At: Shipping Companies and related businesses
5

Day 1
WEDNESDAY, 25 TH MARCH 2009
THE FUTURE OF DANISH SHIPPING
08.30 Registration and coffee/tea and breakfast
09.00 Welcome
Project Manager Peter Gerdes, IBC Euroforum
09.05 Chairs’ welcome and opening comments
Lawyer Jørgen Hammer Hansen, Kaalund & Partners
Trends and general outlook
09.10 Trends and developments within the shipping industry – in Denmark and worldwide
• What developments have we seen during the past few years with regard to the Danish and
international shipping industry? How strong is the industry today compared to last summer
and the situation a couple of years ago?
• Looking ahead – what are the trends?
• What impact and consequence has the financial crisis had?
• What are the greatest threats to the Danish shipping industry and the industry worldwide?
• What are the greatest opportunities?
• As an industry, which issues can we address, and perhaps solve, together and even gain
some economies of scale?
Managing Director Peter Bjerregaard, The Danish Shipowners’ Association
09.50 Coffee/tea, fruit and networking
10.05 Piracy
• What is the background around the piracy problem?
• Whose responsibility is it to solve the problem?
• What needs to be done to contain the problem?
• What future international action can we anticipate?
• How can you as a shipping company deal with hi-jacking – external and internal?
President & CEO Clipper Projects, Per Gullestrup, Clipper Group
10.55 Coffee/the and networking
Outlooks
11.10 Ship building outlook – how will the various balances be affected?
• To what extent do we expect the lack of financial capital to effect new initiatives and will
bankruptcy and closure of companies create a balance between future capacity and demand?
• How quickly can the ship building industry recover from the crisis if new capacity needs
arise?
• If there is an increase in bankruptcies among the Greenfield shipyards due to a steep fall in
the demand for new ships, will the larger shipyards then gain substantially more bargaining
power?
Senior Vice President Henrik Franck, Maersk Broker
12.00 Lunch
6

Day 1
WEDNESDAY, 25 TH MARCH 2009
Outlooks continued
13.00 China outlook – will the growth continue?
• How will China perform in the next 5 years? 10 years?
• What will be the key drivers behind Chinas growth?
• What will the primary effects on tank, dry bulk and containers be worldwide and within China?
• What are the greatest challenges and threats to the Chinese economy?
Senior Analyst Flemming J. Nielsen, Danske Bank A/S
13.50 Coffee/tea and networking
14.00 Oil and bunker outlook – scenarios to consider
• How much correlation is there between oil and bunker prices?
• How much correlation is there between the oil price and the dollar?
• What are the scenarios with a:
– Oil price under $70
– Oil price between $70 and $140
– Oil price above $140
• How should you tackle each scenario with regards to bunkering?
Managing Director Jan Knudsen, A/S Global Risk Management Ltd.
14.50 Coffee/tea, cake, fruit and networking
Credit rating, risk and liquidity
15.00 Financing new ships and insurance against non-payment – how can EKF participate?
• Who is EKF and how does an export credit guarantee work?
• How can an acceptable Danish economic interest be obtained in shipping?
• How can EKF participate in financing of new ships?
• How can EKF cover non-payment under long term charter and bareboat contracts?
Senior Director, Guarantees and Project Finance, Henrik G. Welch, Eksport Kredit Fonden
15.50 Chair’s closing remarks and close of day one
16.00 End of the conference part of first day
EXCLUSIVE NETWORKING DINNER AT PAUSTIAN
Enjoy an exclusive 3-course meal with wine in good and skilled company.
17.30 – 18.30 Appetizers at Paustian – Michelin Stared Restaurant
Paustian is situated at Kalkbrænderiløbskaj 2, Nordhavn, DK-2100 Copenhagen Ø
– approximately 500 meters from Charlottehaven.
18.30 – 21.00 3-course meal with a wine menu and coffee afterwards
Remember to tick off at registration, if you would like to participate in the networking dinner.
You can only participate in the networking dinner, if you participate in the conference.
7

Day 2
THURSDAY, 26 TH MARCH 2009
THE FUTURE OF DANISH SHIPPING
08.30 Coffee/tea and breakfast
09.00 Introduction of the day by the Chair
Politics and compliance
09.05 Sulphur discharge – how can reduction goals be attained?
• Where are we, and where are we going within the frames of current legislation?
• What is the connection between sulphur and particulate matter, and what is the health
effect in the immediate environment?
• What can be done to reduce sulphur discharge – in terms of fuel and the after treatment
of the exhaust gas?
• What should your reduction strategy be in relation to business segment and geographical
area of operations?
• What is on the horizon with regard to future legislation?
Head of Regulatory Affairs L. Robert Pedersen, A.P. Møller – Mærsk
09.55 Coffee/tea, fruit and networking
10.05 CO2 Emissions
• What do the official proposals for reducing shipping emissions say?
• What impact will different scenarios of the various proposals have on the shipping
industry?
• How can the shipping industry and those responsible for legislation work together to
find a reasonable common ground?
• What do we currently see as the most effective way to reduce CO2 ?
Executive Vice President, Claus Usen Jensen, Torm
Professor, Oli B.G. Madsen, Institute of Transport
External professor and Senior Researcher, Hans Otto Holmegaard Kristensen, Department of
Mechanical Engineering, Technical University of Denmark
DEBATE
10.55 Coffee/tea and networking
11.15 EU-law and other legislation – what to expect and deal with
• What is the most important legislation to focus on right now?
• What can be expected with regard to current and future legislation affecting the
shipping industry?
• What are the chances for influencing the law making process fundamentally affecting
the industry?
Partner Alex Laudrup, Gorrissen Federspiel Kierkegaard
12.00 Lunch
8

Day 2
THURSDAY, 26 TH MARCH 2009
THE FUTURE OF DANISH SHIPPING
Education and Crewing
13.00 Education and recruiting of crew and staff in the shipping industry
• What is the outlook for the various labour forms needed in the shipping industry now?
In five years? In ten years?
• Which profiles do we wish to attract, and were can we look?
• What cultural barriers should be taken in to consideration?
• How important is it to make a long term education plan?
• How do we ensure that the incentives for companies to educate and take on apprentices
are not destroyed by “labour raids” once apprentices have completed their basic training?
• Is the way forward one which encourages vertical integration of crewing companies hence
making it possible to balance/minimise the risk of crew/staff shortages?
Speaker to be announced
13.50 Coffee/tea and networking
Financial crisis, recession and mergers
14.05 Mergers and acquisitions – outlooks, synergies and red flags
• Are there too many small shipping firms in the Danish shipping industry? Worldwide?
• Will we see a round of M&A’s as a result of the financial crisis and recessionary times?
• What kind of synergies would be essential when looking at a merger between a smaller
firm acquired by a larger firm and in the industry as a whole?
• What parameters and red flags are essential to look for in a merger?
• What is the outlook and what are the opportunities outside Denmark?
Senior Analyst Nikolaj Kamedula, FIH Erhvervsbank
14.50 Coffee/tea, cake, fruit and networking
15.05 Aftermath of the financial crisis with regards to shipbuilding – what is the current state
of financing?
• What effects, with regard to financing of ships, has the financial crisis had?
• Are there any fundamental changes in the calculus of models of new buildings?
• What is the state of traditional financing?
• How great has the problem become with regards to liquidity and is it possible to
somehow solve this?
• Do we see new capital entering the market?
Head of Shipping, Lars Kyvsgaard, Nordea
15.50 Chair’s closing remarks and close of day two
16.00 End of the conference
9

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www.ibceuroforum.dk, Giro 3 93 14 55, CVR-nr 24 24 03 71
10

P R A C T I C A L I N F O R M A T I O N
Date and venue information
The conference “The Future of Danish Shipping” is held on 25 th & 26 th March 2009 at Charlottehaven,
Hjørringgade 12C, DK-2100 Copenhagen, Denmark. Telephone: +45 35 27 15 00.
The workshop “Optimization of Working Capital Management in the shipping industry” is held on 24 th March
2009 at Charlottehaven, Hjørringgade 12C, DK-2100 Copenhagen, Denmark. Telephone: +45 35 27 15 00.
Hotel Accomodation
Charlottehaven is not able to provide accomodation. IBC Euroforum refers to NHG Hotel and Conference
Booking for booking of hotels in Copenhagen. Contact NHG at www.nhg.dk
Parking
There are parking facilities at Charlottehaven. IBC Euroforum however takes no responsibility for parking.
If you are using public transport the S-station is Nordhavn Station, bus line 18 and 3A are only a few
minutes walk from Charlottehaven.
Prices in DKK
Choose alternative
Register by
6 th February
SAVE
Register by
20 th February
SAVE
Prices are excluding VAT.
Register after
20 th February
Conference & workshop * 14495 1500 15495 500 15995
Conference 11495 1500 12495 500 12995
Workshop 4995 1500 5995 500 6495
Paustian Networking Dinner 1645 200 1645 200 1845
* If you cannot participate in the workshop, you are allowed to send a colleague at the reduced price.
The price includes: Coffee/tea, cake, fruit, a lunch buffet, as well as the presentations from the speakers.
Invoices and confirmation will be sent when you make your booking.
Registration
Send, ring or fax your registration to IBC Euroforum. You can also make your registration at
www.ibceuroforum.dk or write an e-mail to: registration@ibceuroforum.dk. Your registration is binding!
Cancellation
Cancellation should be done by mail to IBC Euroforum. If you cancel up to 14 days prior to the conference
IBC Euroforum takes a fee of 10 %. If the cancellation is done less than 14 days prior to the conference
IBC Euroforum takes a fee of 50 %. If the cancellation is done less than 3 days prior to the conference the
full price must be paid. If you are unable to participate, you are always welcome to give your place to a
colleague so long as IBC Euroforum is informed of the change.
We reserve the right to make alterations to the programme.
Enquiries about the conference may be addressed to Project Manager Peter Gerdes,
IBC Euroforum, telephone +45 41 95 14 11, e-mail peter.gerdes@ibceuroforum.dk
who will be happy to help you.
For more exciting events, visit www.ibceuroforum.dk
11

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THE FUTURE OF DANISH SHIPPING
Copenhagen • Conference 25 th - 26 th March 2009 • Workshop 24 th March 2009
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