Gasoline
industry has grown robustly in the five years, though this growth is
mostly regarded to recovered losses since the recession. In the
upcoming years, petroleum prices are expected to increase as the
global economy gains demand for fuel worldwide. Gasoline futures are
exchange-traded contracts that are standardized in nature. In
gasoline futures, the contract buyer approves to take delivery, from
the seller, a specific quantity of gasoline at a predetermined price
on a future delivery date. Gasoline futures can be traded at Tokyo
Commodity Exchange (TOCOM) and New York Mercantile Exchange (NYMEX).
Risk in gasoline price can be managed by both consumers and producers
by purchasing and selling the gasoline futures. Producers can exploit
a short hedge to secure the selling price for the gasoline they
produce, while on the other hand a long hedge can be utilized to
secure a purchase price for the commodity. Speculators also play a
major role in trading gasoline futures. They assume the price risk
that hedgers avoid to profit from the movement of gasoline price.
Gasoline futures are brought by the speculators only when they
believe that there is a increase in gasoline prices.
Segmentation
of the gasoline trading market can be done by identifying the various
modes of transport used to trade gasoline. Product carrier involves
different segments such as medium range (mr), MR fleet, handy size,
handy size fleet. Other vessels, which are involved in transporting
crude oil, are categorized as oil tankers, bulk carriers, general
cargo ships, container ships and other types of ships such as
liquefied gas carriers, chemical tankers.
Regional
segmentation of the global gasoline trading market can be done by
identifying the major consumers of gasoline. Asia Pacific is one of
the leading markets in gasoline trading. Rapid industrialization in
countries such as India, China and Indonesia has augmented the demand
for gasoline. Number of gasoline run vehicles has tremendously
increased in India and China, which is one of the major factors
driving the demand for gasoline in Asia Pacific Market. North America
and Europe have also shown substantial growth, owing to the increased
industrialization and rising number of vehicles. Rise in oil
production particularly in Canada and the U.S. is another factor that
has contributed towards the growth of this region. Rest of the World
(RoW) segment includes countries from the Middle East, Africa and
Latin America region. This region still lacks behind the other three
in terms of market for gasoline trading. Lack of industrialization is
one of the major factors hampering the growth of this market in RoW
Rising
population particularly in Asia Pacific, rise in number of
automobiles and easy availability of gasoline are some of the major
factors driving the gasoline trading market. These positive factors
are likely to bolster the demand for gasoline in the coming years.
The factors that are restraining the growth of gasoline market are
foreign demand slowdown and weaker stock markets. Slow economic
growth in Europe has laid a negative impact on the demand for
gasoline.
Some
of the major players in the gasoline market are Saudi Aramco,
Gazprom, National Iranian Oil Corporation, ExxonMobil Corporation,
PetroChina, Royal Dutch Shell, Pemex, Chevron Corporation, Kuwait
Petroleum Corporation, Abu Dhabi National Oil Co.
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