Former Maersk CCO behind new bunker hedging note

Former Maersk CCO behind new bunker hedging note

There’s plenty of money to be made from fuel hedging with the global sulphur cap just 354 days’ away, something not lost on former high-flyers at Maersk, Vitol and Bank of America who have clubbed together to form Enerjen Capital. The company, which has famous oil trader Andy Hall on its advisory board – is set to close its Enerjen Capital IMO 2020 Note offering in February with a view to returning any profits to investors in early 2021.

The note will be made up of a basket of hedging instruments in crude and oil products, but won’t sit on a company’s balance sheet as a derivatives hedge.

The note has the backing of three banks, who are willing to finance up to 50% of participation.

Enerjen, which boasts former Maersk CCO Stephen Schueler as one of its founders, plans to introduce a separate note for airlines later this year.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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1 Comment

  1. james walsh
    January 11, 2019 at 8:06 pm Reply

    Hamrick’s Rebellion. “The plague of man is boasting of his knowledge,” M. Montaigne. It doesn’t require a high IQ or having held a C-level position with Maersk to see the advantages of hedging. To be successful, however, it does require making a habit of thinking about one’s limits, which can be painful. How many followed Maersk down the “larger is better” rabbit hole? Better the bright business lights of the industry ask the question what am I missing. Jimmy Kimmel has made an art of asking the intellectually arrogant if they’ve heard of bogus historical events like “Hamrick’s Rebellion.” The fake-it-until- you-make it will say, “Sure.” The intellectually humble are less likely to do so. Maritime promoting hedging to aviation that is rich.

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