December 12, 2017 [MENAFN] - Vopak hosts its Analyst Day for equity (sell-side) analysts in Rotterdam, the Netherlands. The half-day event features presentations by Vopak's Global Product Directors on the developments in the oil, chemicals and gas markets. The presentations are available through Vopak's website.
Vopak presents the following highlights on the product-markets it operates in:
Oil products: Soft short-term markets with solid long-term underlying demand, supported by the growing petrochemical and transportation sector. Energy transition changes overall mix in demand for oil products and IMO 2020 will impact global fuel oil and bunker markets causing transition challenges in the short-term, and resulting in new opportunities in the mid- to long-term.
Chemicals and LPG: Steady growth path continues globally. To meet new demand, new petrochemical complexes are expected to arise in feedstock advantaged regions (US and Middle East) and close to growing end markets (Asia). The strong increase in supply coming from shale gas developments in North America will result in increasing global LPG trade requiring additional infrastructure.
LNG: Surge in LNG supply creates opportunities to open new markets. Bulk of the growth in LNG demand comes from new importing countries, mainly driven by increasing energy demand. Developments in gas-to-power, along with trends in FRSUs and LNG bunkering, are shaping the LNG industry, which play a key role in expanding access to gas across the globe.
Vopak also addresses the implications of the new Leases accounting standard IFRS 16, which comes into effect on 1 January 2019.
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