In this episode, we return to Singapore to explore the evolving landscape of commodity trading in Asia. We examine whether Singapore remains a must-have hub in any global commodity trading footprint, and unpack the characteristics of the key commodities traded there.
How do Asian markets differ from those in Europe and North America? How has the wider Asia-Pacific region performed over the past decade? What market and cultural challenges do companies face when operating in this part of the world? And importantly, what might the future hold for commodity players active in Asia?
Speaking to our host Paul Chapman on this episode is Iain Lawson, a seasoned expert with a multi-decade career in trading and origination. Iain has led major trading and origination teams in Singapore for organisations such as bp and Mercuria, and now serves as a Senior Advisor at Baringa, the global management consultancy. With first-hand experience navigating Asia’s dynamic commodity landscape, he offers deep insights into the region’s opportunities, structural shifts, and competitive advantages.
Read below for our key talent impacts from this episode.
Key Talent Impacts
Is demand for locally developed trading talent in Singapore rising?
Singapore’s long-standing strategy of importing experienced traders is giving way to a more deliberate effort to build a domestic talent pipeline. Universities now offer trading-specific programmes, and the local ecosystem is far more sophisticated than it was 20 years ago. This shift strengthens Singapore’s competitive advantage over Dubai, but it also creates acute competition for skilled local hires in analysis, trading, logistics and risk. Companies operating in Asia must invest in training, mentorship and long-term capability building rather than relying solely on expatriate expertise.
Why is multi-commodity expertise becoming essential for trading talent in Asia?
Traditional commodity silos are breaking down. Talent now needs the ability to connect LNG with power markets, biofuels with refining, and metals with battery and renewable technologies. Japan’s power market was cited as an example: success requires understanding LNG, renewables, storage and regulatory structures simultaneously.
This means employers in the region must prioritise adaptive, analytically broad and cross-disciplinary talent, rather than hiring purely commodity-specific specialists.
Why is deep cultural and country-specific competence critical for origination in Asia?
Origination talent in Asia must navigate diverse business cultures: Korean relationship structures, Japanese hierarchical processes, Indonesian family networks, and Singapore’s multicultural professional norms. Trust-building behaviours (e.g., the etiquette of business cards, reliance on long-term relationships) often supersede purely commercial logic. For companies hiring in Asia, this creates a premium on originators and commercial leaders with high cultural fluency, country-by-country awareness and strong interpersonal ‘Guanxi’ skills, a different profile from typical Western trading hires.
How is the expanding employer landscape reshaping talent demand in Asia’s commodity markets?
The competitive landscape in Asia now includes oil majors, trading houses, national buyers, family offices, hedge funds, merchant utilities and industrials, many of which are building or rebuilding trading arms. As more producers and consumers recognise the value of optionality, information access and portfolio optimisation, demand for trading, optimisation and commercial strategy talent continues to rise. This broadening ecosystem places pressure on the talent market and underscores the importance of differentiation, compensation innovation and clear career pathways to attract scarce trading expertise.
How is decarbonisation creating new talent requirements in energy and commodities?
Decarbonisation is reshaping the skills needed across trading, risk and origination. Talent must now understand feedstock provenance, regulatory risk and sustainability standards in biofuels and SAF, alongside the traceability and certification demands of emerging molecules such as hydrogen and biomethane. Power and renewable integration also require sharper regulatory and technological awareness. With Asia central to global biofeedstock and green fuel supply, organisations increasingly need specialists in sustainability, certification and low-carbon commercial strategy.
HC Group is a global search firm dedicated to the energy and commodities markets.
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HC Commodities Podcast Briefing
Edited highlights and themes from the podcast episode.
Why does Singapore continue to hold a central role in global commodity trading?
Singapore’s success is rooted in geography, deep-water access through the Straits of Malacca and decades of deliberate policy support. The city-state has built a full trading ecosystem, refining, storage, bunkering, finance, law and risk management, making it the natural hub for energy and commodities in Asia. Despite competition from Dubai, Singapore remains the preferred base because it is transparent, stable and closely aligned with English common law.
How has the talent landscape for trading in Singapore evolved?
Historically reliant on expatriates, Singapore has spent the past decade building domestic capability. Universities now offer trading and analytics programmes, and local professionals are increasingly competitive. Demand for talent in crude, products, LNG and biofuels remains intense, and companies must invest in long-term skills development to remain competitive.
Why is LNG trading so strongly anchored in Singapore?
Asia contains the world’s largest LNG buyers, including Japan, China and Korea. As LNG shifts from producer-driven contracts to portfolio optimisation, proximity to customers and market intelligence is vital. Singapore hosts major LNG desks for global players such as Exxon, Shell and traders like BP and Mercuria, making it the region’s operational and informational centre.
What makes origination in Asia uniquely challenging?
Business practices differ sharply across Asia. Success requires cultural fluency, understanding relationship-based Korean buying behaviour, Japanese hierarchy, Indonesian family networks and broader concepts such as Guanxi. Trust and continuity often outweigh price.
How is decarbonisation reshaping trading skills in Asia?
Decarbonisation is driving demand for expertise in biofuels, SAF, certification, provenance, and cross-commodity optimisation. As Asia dominates feedstock supply and develops new low-carbon fuels, specialist sustainability and regulatory talent is becoming essential.