Clarksons Platou Securities has solved a vacancy in a key research position that has drawn much interest within analyst ranks by tapping one of its own key staffers to lead coverage of US-listed stocks.
Turner Holm, who has been with Clarksons for 11 years, is the choice to fill the seat of departed analyst Omar Nokta, who has taken a job as head shipping analyst for Jefferies.
The Clarksons tack was being closely watched within US ship-finance circles amid speculation the Oslo-based firm might poach a senior researcher from one of the American banks, thereby furthering a game of “musical chairs” among stockpickers.
And indeed, TradeWinds understands that there was interest from external candidates based both in the US and Norway, but that became academic when the bank decided it already had the right man on staff.
Holm, 36, is considered a rising star in analyst circles. Most recently, he has been the firm’s director of research and lead analyst in renewable energy. Before 2019, he covered the offshore oil patch.
“We’d been searching far and wide to find a replacement for Omar — we did a lot of thinking and a lot of interviews,” Clarksons Platou chief executive Erik Helberg told TradeWinds.
“Then at some point, Turner stepped forward and said this is something I’m motivated to do myself, which we were very happy about.”
As was the case with Nokta, Holm will work hand-in-glove with Oslo-based head researcher Frode Morkedal to cover Clarksons Platou’s wide range of maritime stocks, with Morkedal primarily focused on the European-listed names.
Holm – a native of Memphis, Tennessee, and a graduate of Harvard University – will continue to work from Oslo but expects to be in New York regularly.
“It’s the Viking way, we’re used to travelling,” Helberg quipped.
“I’ve seen too little of my family these last few years, so that will be easier,” Holm said.
The analyst is also planning to retain his coverage of offshore wind names while handing off research on other renewables specialists. With renewables included, Helberg said Clarksons Platou covers more than 50 shipping-related names.
“In my view, this is the best seat in shipping equity research,” Holm said. “Our team has the backing of the Clarksons global network. The commitment and resources devoted to shipping are, to my knowledge, unmatched by any investment bank in the world. I jumped at the opportunity.”
Both Helberg and Holm said the analyst’s progression from the offshore energy sector to renewable energy has set him up ideally to take on shipping research.
“He understands oil flows and the energy complex through his work in offshore, and his experience in renewables fits perfectly with where shipping is moving,” Helberg said.
Holm said he views the move into shipping names as well-timed.
“The timing to step into shipping couldn’t be better,” Holm said. “We believe the industry has entered a multi-year upcycle based on strong commodity demand, limited shipyard capacity and a rerouting of the global trade map.
“It’s a compelling time to join the party. In the next decade, the shipping industry is about to undergo the greatest transition it has seen since the age of sails. We may see new giants created by the companies that embrace these changes.”
