Disruption and digital transformation in 2021

A lot has happened in 2020 2020 has been a year of disruption. Anticipated disruptions to bunker fuels and credit risk from IMO2020, the impact of trade disputes and concerns over the US elections all paled in comparison to the unforeseen and unprecedented global lockdowns triggered by Covid-19, and their impact on commodities, energy and shipping. Whilst not on the same scale, there were several other disruptions to commodities that will also likely have an impact on the way we operate in future, including the fraud scandal in Singapore’s commodities finance sector which has led to banks withdrawing or tightening their credit line facilities. And several long-term trends continued to create new challenges for the industry. For example, despite Covid-19 interrupting some aspects of the energy transition, such as delaying China’s planned national carbon market, 2020 has shown that consumers, investors and governments remain committed to environmental reforms. From Boris Johnson’s pledge to “build back greener”, to investment firms such a BlackRock voting against directors at companies not making progress on tackling the climate crisis, it is clear that businesses will continue to see new challenges in this space. But the industry response has been phenomenal As it turns out,… continue reading

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