Petrochemical logistics refers to the logistics activities with oil, natural gas and their products as the main objects, including the extraction, transportation, storage and sales of crude oil and natural gas, as well as the production, transportation, storage and sales of oil refining, gas refining and chemical products. Petrochemical logistics is an important part of the petrochemical industry chain, which plays an important role in ensuring the supply and circulation of petrochemical products and improving the efficiency and competitiveness of the petrochemical industry.

1. market size

According to data from the Champ Consulting Group,2023The size of Sinopec's logistics market is expected to reach3.1Trillion yuan, year-on-year growth10.7%. Among them, the size of the hazardous chemicals logistics market is approximately2.7Trillion yuan, year-on-year growth10.5%; the size of the non-hazardous chemicals logistics market is approximately4000Billion yuan, year-on-year growth11.8%. The growth of the market size is mainly affected by the following factors:

（1) The economic recovery at home and abroad has led to growth in demand for petrochemical products. Affected by the new coronary pneumonia epidemic, 2020The global economy experienced a severe recession in 2010, resulting in a significant decline in domestic and foreign demand for petrochemical products. As countries actively promote vaccination and economic recovery policies, 2021Since the beginning of the year, the global economy has gradually resumed growth, especially the Chinese economy has maintained a relatively high growth rate, which has stimulated the rebound in domestic and foreign demand for major petrochemical products such as gasoline, diesel, ethylene, and polymers.According to data from the Champ Consulting Group,2022In 2010, China's crude oil processing volume decreased6.8Billion tons, lower than the same period last year.3.4%; ethylene production increased slightly, reaching2897.5Ten thousand tons, up year-on-year.2.5%; synthetic resin production also increased5500About 10,000 tons, year-on-year growth1.5%. Expected2023As the global economy further returns to normal levels, domestic and foreign demand for petrochemical products will continue to grow rapidly.

（2) Domestic and foreign crude oil price fluctuations led to inventory adjustments. International crude oil prices are in 2020-2022 due to changes in supply and demand, geopolitical factors, etc.There were significant fluctuations during the year.According to data from the Champ Consulting Group,In 2022, domestic and foreign crude oil prices are affected by the new crown epidemic, the Russian-Ukrainian conflict,OPEC There have been significant fluctuations due to factors such as production cuts.2022Domestic crude oil prices per tonne averaged3865.6The average international crude oil price per barrel is94.3S. dollars, and2020compared to the year, respectively.36.6%and125.8%Fluctuations in crude oil prices have had a significant impact on the production and operation of the petrochemical industry, prompting petrochemical companies to adjust inventory levels according to market conditions, thereby driving changes in petrochemical logistics demand. Expected2023International crude oil prices will remain60-70S. dollar range, domestic and foreign crude oil prices will remain4000-5000In the range of yuan, petrochemical companies will continue to flexibly adjust their inventory strategies according to market changes.

（3) National policies support the development of petrochemical logistics industry. In recent years, the state has issued a series of policies and measures to support the development of petrochemical logistics industry. For example, the "About"Fourteen five"Guidance on Promoting High-Quality Development in the Petrochemical and Chemical Industry3It puts forward the goals and measures of accelerating the transformation and upgrading of traditional industries, vigorously developing new chemical materials and fine chemicals, and accelerating the digital transformation of industries; the Notice on Accelerating the Construction of Dangerous Goods Road Transport Safety Management Information System puts forward the requirements of strengthening the construction of dangerous goods road transport safety management information system and improving the operation mechanism of dangerous goods road transport safety management information system; the "Notice on Further Doing a Good Job in the Safety Management of Road Transportation of Dangerous Goods" proposes measures such as strengthening the safety supervision of road transportation of dangerous goods, regulating the order of the road transportation of dangerous goods, and improving the safety management level of road transportation of dangerous goods. These policies are conducive to promoting the standardization, specialization, intelligence and green development of the petrochemical logistics industry.

2. competition pattern

At present, the domestic petrochemical logistics industry enterprise competition presents“Three pillars”The pattern: logistics subsidiaries of petrochemical enterprises, large integrated logistics service providers and their chemical logistics subsidiaries, professional third-party chemical logistics service providers. These three types of enterprises have their own advantages and disadvantages, and they compete and cooperate with each other.

（1) Logistics subsidiaries of petrochemical enterprises. Such enterprises mainly include logistics companies such as Sinotrans, CNOOC, CNOOC and CNOOC under large state-owned oil companies such as CNPC, Sinopec and CNOOC, as well as logistics companies such as COSCO Hineng and COSCO Haite under large state-owned shipping companies such as China Shipping Group and COSCO Shipping. The advantage of such enterprises is that they have relatively complete petrochemical logistics infrastructure and equipment, such as pipelines, tankers, tankers, tankers, tanks, storage tanks, etc, it can provide stable, efficient and low-cost petrochemical logistics services for itself or its affiliated enterprises; the disadvantage lies in the lack of market-oriented business philosophy and mechanism, the service scope and quality are relatively single, and it is difficult to adapt to the diversified and personalized customer needs.

（2) Large integrated logistics service providers and their chemical logistics subsidiaries. Such enterprises mainly include Shunfeng Chemical, Debang Dangerous Goods, China Railway Express and other chemical logistics subsidiaries of large integrated logistics service providers such as Shunfeng Express, Debang Logistics and China Railway Express, as well as COSCO Shipping Chemical, Sinotrans Dangerous Goods and other chemical logistics subsidiaries of large state-owned shipping enterprises such as COSCO Shipping Group and Sinotrans Group. The advantage of such enterprises is that they have strong comprehensive logistics service capabilities and network coverage, and can provide customers with petrochemical logistics solutions with multiple models and products; the disadvantage is that they lack in-depth understanding and professional technology of the petrochemical logistics industry. Service quality and safety level need to be improved.

（3) Professional third-party chemical logistics service provider. Such enterprises mainly include Hengli Group, Huafeng Group, Huaxin Group and other private enterprises focusing on petrochemical logistics, as well as state-owned enterprises focusing on pipeline transportation, such as China National Petroleum Pipeline Bureau, a subsidiary of PetroChina. The advantage of such enterprises is that they have a high level of petrochemical logistics expertise and safety management, and can provide customers with high-quality, high-efficiency and high-security petrochemical logistics services; the disadvantage is the lack of scale effect and brand influence, and the market competitiveness Weak.

3. development trend

Shangpu Consulting believes that the future of China's petrochemical logistics industry will show the following trends:

（1) Market demand will maintain steady growth. With the sustained economic recovery at home and abroad, the demand for petrochemical products will maintain rapid growth, thus driving the growth of petrochemical logistics demand. At the same time, as the country strengthens the construction of strategic energy security reserves, the scale of domestic crude oil and refined oil reserves will be further expanded, which will also have a positive impact on the demand for petrochemical logistics.

（2) Technological innovation will promote the transformation and upgrading of the industry. With the continuous development and application of new technologies such as information technology, intelligent technology, and environmental protection technology, the petrochemical logistics industry will achieve digital, intelligent, and green transformation and upgrading. For example, through the establishment of cloud platform, big data analysis, blockchain technology and other means to achieve petrochemical logistics information sharing and transaction convenience; through the use of unmanned vehicles, intelligent storage equipment, intelligent monitoring systems and other means to improve the efficiency and safety of petrochemical logistics; through the use of new energy vehicles, clean energy ships, energy-saving and environmental protection equipment and other means to reduce petrochemical logistics carbon emissions and pollution.

（3) The policy environment will optimize the development of the industry. As the state strengthens the guidance and support of the standardization, specialization and marketization of the petrochemical logistics industry, the policy environment of the petrochemical logistics industry will be further optimized. For example, improve the level of rule of law in the petrochemical logistics industry by improving the relevant laws and regulations, standards and regulatory systems of petrochemical logistics; improve the development ability of the petrochemical logistics industry by increasing the construction of petrochemical logistics infrastructure, investment in technological innovation and personnel training; and improve the competitiveness of the petrochemical logistics industry by promoting the open cooperation, resource integration and industrial coordination of the petrochemical logistics industry.

4. recommendations

In view of the development status and trend of petrochemical logistics industry, Shangpu Consulting puts forward the following suggestions:

（1) Strengthen innovation ability and improve service quality. Petrochemical logistics enterprises should actively introduce and apply new technologies, new equipment and new models, continuously improve the efficiency, safety and environmental protection of petrochemical logistics services, meet the diversified and personalized needs of customers, and enhance market competitiveness.

（2) Expand cooperation space and realize resource sharing. Petrochemical logistics enterprises should actively seek cooperation opportunities with upstream and downstream enterprises, peer enterprises, inter-bank enterprises, etc., to achieve resource sharing and complementary advantages, form industrial chain synergies, and improve the overall efficiency of the industry.

（3) Adhere to market orientation and achieve high-quality development. Petrochemical logistics enterprises should flexibly adjust their business strategies and development directions according to market demand and changes, pay attention to improving service brands and values, and achieve high-quality development.