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Analyst Day: Vopak presents view on developments in the oil, chemicals and gas markets
Today, 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.
Vopak will organize its next Capital Markets Day in HY2 2018.
This document contains 'forward-looking statements' based on currently available plans and forecasts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future, and Vopak cannot guarantee the accuracy and completeness of forward-looking statements.
Royal Vopak is the world's leading independent tank storage company. We operate a global network of terminals located at strategic locations along major trade routes. With over 400 years of history and a strong focus on safety and sustainability, we ensure efficient, safe and clean storage and handling of bulk liquid products and gases for our customers. By doing so, we enable the delivery of products that are vital to our economy and daily lives, ranging from oil, chemicals, gases and LNG to biofuels and vegoils. Vopak is listed on the Euronext Amsterdam stock exchange and is headquartered in Rotterdam, the Netherlands. Including our joint ventures and associates, we employ an international workforce of over 5,500 people. As of 12 December 2017, Vopak operates 66 terminals in 25 countries with a combined storage capacity of 35.9 million cbm, with another 3.2 million cbm under development, to be added before the end of 2019.
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