
Overview
Agenda
- 2:00 PM – 2:30 PM
Registration
- 2:30 PM – 2:35 PM
Welcome Remarks
Lee Klaskow, Sector Head & Senior Analyst, Freight Transportation and Logistics, Bloomberg Intelligence- 2:35 PM – 2:50 PM
Broad Shipping Market Update
Lee Klaskow, Sector Head & Senior Analyst, Freight Transportation and Logistics, Bloomberg Intelligence
Uncertainty created by the US administration’s more protectionist policies is exacerbating what was already shaping up to be a more challenging backdrop for the global marine shipping market, due to supply growth surpassing demand in most subsegments. Political tensions in the Middle East further complicate the outlook, especially as it relates to the tanker industry
- 2:50 PM – 3:15 PM
Fireside Chat: Tanker Market
Robert Bugbee, President & Director, Scorpio TankersGet ready for an illuminating fireside chat with Robert Bugbee, President of Scorpio Tankers, as he shares his expert insights on the ever-evolving tanker shipping industry. Robert will delve into current market drivers—from shifting crude flows and refining upgrades to evolving regulatory landscapes—and how these forces are shaping freight rates and fleet strategy.
- 3:15 PM – 3:40 PM
Fireside Chat: Dry Bulk Market
Hamish Norton, President, Star Bulk Carriers CorpThe outlook for dry-bulk rates doesn’t look promising, given lower Chinese appetite for commodities and uncertainty in global trade. Join us for an exclusive fireside chat with Hamish Norton, President of Star Bulk, as we dive into the latest trends shaping the dry bulk shipping market. Hamish will share his expert views on supply-demand dynamics, fleet developments, and the macro forces driving freight rates into 2026.
- 3:40 PM – 4:05 PM
Economic Outlook
Jamie Rush, Director of Global Economics, BloombergJoin us for a special presentation with Jamie Rush, Chief European Economist at Bloomberg, as he unpacks the global macroeconomic outlook amid an increasingly uncertain environment. From central bank policy paths and inflation dynamics to global growth divergence and geopolitical risk, Jamie will offer a data-driven view of the forces shaping economic sentiment and market direction. This is a must-attend session for anyone seeking clarity on where the global economy is headed
- 4:05 PM – 4:35 PM
Tea & Coffee Break
- 4:35 PM – 5:00 PM
Panel: View from Credit Analysts
• Daniel Harlid, VP, Senior Credit Officer, Corporate Finance, Moody’s
• Izabela Listowska, Lead Transportation EMEA, S&P Global Ratings
• Raman Singla, Director, EMEA Utilities and Transport, Fitch Ratings
• Stephane Kovatchev, Senior Credit Analyst, Cyclical Industrials, Bloomberg Intelligence (Moderator)A panel of credit experts from S&P, Moody’s, Fitch and Bloomberg Intelligence will assess the container shipping industry’s outlook through a credit lens. Analysts will debate how freight rates, capacity growth and capital allocation could influence ratings and credit quality going into 2026.
- 5:00 PM – 5:30 PM
Panel: View from Equity Analysts
• Fredrik Dybwad, Equity Research Analyst, Fearnley Securities
• Kristoffer Barth Skeie, Equity Research Analyst, Arctic Securities
• Lee Klaskow, Sector Head & Senior Analyst, Freight Transportation and Logistics, Bloomberg Intelligence (Moderator)Don’t miss this dynamic panel discussion featuring two leading sell-side equity analysts covering the global shipping sector. They’ll share their best ideas along and how equity investors should position themselves in this volatile industry through insights on market drivers, company performance, and investor sentiment across dry bulk, tankers, and container shipping.
- 5:30 PM – 5:35 PM
Closing Remarks
Lee Klaskow, Sector Head & Senior Analyst, Freight Transportation and Logistics, Bloomberg Intelligence- 5:35 PM – 6:30 PM
Networking Reception
Speakers
Robert Bugbee
Robert Bugbee has served as Director and President of Scorpio since its IPO in 2010, bringing over 36 years of experience in the shipping industry. He co-founded and led Eneti Inc. (2013–2022) and served as President of Hermitage Offshore (2018–2021). Prior roles include President of OMI Corporation and Partner at Ospraie Management LLP. Mr. Bugbee began his career at Gotaas-Larsen Shipping in 1984 and holds a B.A. (Honors) from London University and an M.I.B. from the Norwegian School of Economics in Bergen.
Fredrik Dybwad
Fredrik Dybwad is an Equity Research Analyst at Fearnley Securities, covering over 40 listed shipping equities across sectors including crude, product, and chemical tankers, dry bulk, LNG, LPG, container liners, and car carriers. He brings strong public and internal presentation skills, with experience moderating panels and delivering market insights. Fredrik previously worked in Audit & Assurance at PwC Norway, focusing on shipping, offshore, and insurance clients. He holds an MSc in Finance from the Norwegian School of Economics (NHH) and a BSc in Accounting from the University of Agder.
Daniel Harlid
Daniel Harlid is a Vice President – Senior Credit Officer in the EMEA Corporate Finance Group based in Stockholm, Sweden. He is responsible for a portfolio of investment grade and sub-investment grade companies within the European container shipping sector as well as in the logistics industry. Additionally, he covers investment grade issuers in the Nordic manufacturing sector. Daniel joined Moody’s in 2017. Prior to this, he was a portfolio manager at Cicero Fonder managing funds with both investment grade and high yield mandates. Daniel started his career as an equity analyst for Handelsbanken Capital Markets.
Lee Klaskow
Lee Klaskow is Sector Head and Senior Analyst for Freight Transportation and Logistics at Bloomberg Intelligence, with over two decades of experience in research and equity capital markets. He covers railroads, trucking, parcel, intermodal, marine shipping, and logistics providers. Lee hosts Bloomberg Intelligence’s Talking Transports podcast and sits on BI’s U.S. equity research management team, helping analysts build impactful franchises. A frequent contributor on Bloomberg TV, radio, and at industry events, he holds a B.S. in Finance and Management from Ithaca College and an MBA from Fordham University.
Stephane Kovatchev
Stephane Kovatchev is a Senior Credit Analyst at Bloomberg Intelligence, covering high yield and investment-grade credits in European cyclical industrials and shipping. With over six years at Bloomberg, he provides in-depth credit insights and market analysis to institutional investors. Prior to Bloomberg, Stephane spent nearly seven years at RBS as a High Yield Desk Analyst and CEEMEA Corporate Debt Strategist. He also held roles at J.P. Morgan, Société Générale, and Omega Asset Management. Stephane holds a Master’s degree in Finance from ESCP Business School.
Hamish Norton
Hamish Norton is President of Star Bulk Carriers Corp. Previously, he was Managing Director and Global Head of Maritime at Jefferies, where he created Nordic American Tanker Shipping and Knightsbridge Tankers. Norton advised on key mergers, including Arlington Tankers and General Maritime, and worked with U.S. Shipping Partners and New Mountain Capital. He held senior roles at Bear Stearns and Lazard Frères, where he was General Partner and Head of Shipping. Norton serves as Director of Neptune Lines and Cadre Holdings. He earned a Ph.D. in Physics from the University of Chicago.
Jamie Rush
Jamie is Director of Global Economics at Bloomberg, where he oversees global modelling, country risk, trade and climate change research. He previously spent a decade as Chief European Economist and has worked at the UK Office for Budget Responsibility, the New Zealand Treasury and HM Treasury. He is co-author of ‘The Price of Money’ a book about the past, present and future of the natural rate of interest with Oxford University Press, and makes regular appearances in print, online and on television.
Jamie is also a Visiting Professor at the University of Sheffield, where he received his PhD, and has published papers on fiscal policy, measuring slack and the determination of interest rates.
Kristoffer Barth Skeie
Kristoffer Barth Skeie is an Equity Research Analyst at Arctic Securities, specializing in shipping with nearly four years of sell-side experience. He previously worked as an Analyst at FLEX LNG and held Structured Finance roles at ABN AMRO, focusing on maritime, offshore, and energy clients. Kristoffer also gained hands-on experience in shipbroking through positions at Core and Frontier Shipbroking. He holds an MSc in International Shipping and Finance (with Distinction) from Henley Business School and a Bachelor’s degree from the University of South-Eastern Norway.
Raman Singla
Raman joined Fitch in 2014 and covers Transport names. Prior to Fitch, Raman has worked as a buy side credit analyst with Fidelity Investments and as a sell side analyst with JPMorgan. Raman post-graduated Indian Institute of Management, Lucknow (India) in Business Management and holds Bachelors in Chemical Engineering from Institute of Technology, Varanasi (India).
Izabela Listowska
Izabela Listowska is Lead Transportation EMEA in S&P Global’s Corporate & Government Ratings Division, based in Frankfurt. Since joining S&P Global in 2001, she has held both coordinator and analytical roles across sectors including capital goods, construction, shipping, and logistics. Since 2015, she has led coverage of 40–50 companies in the transportation cyclical, railroad, logistics, and equipment leasing sectors across EMEA. Izabela holds a Bachelor’s in International Business from the University of Mobile in Alabama and an MBA from Schiller International University in Tampa, Florida and Heidelberg, Germany.