Light Sweet Crude Exports Jump at LOOP
The Louisiana Offshore Oil Port (LOOP) exported a record 283,333 barrels per day of light sweet crude last month, according to trade sources, as prices weakened against global Brent.LOOP, which exports mostly medium sour grades produced in the U.S. Gulf of Mexico, last month exported more than twice the amount of light sweet from the prior month. Overall exports of U.S. crude hit a record 3.77 million barrels per day (bpd) one week in June, U.S. government data showed.A decline in oil imports at the facility, stemming from record U.S.
BIMCO: US Seaborne Crude Oil Exports Hit Record High
US exports of crude oil have, since August 2018, continued to rise every month, with a new record high in January of 9.6 million tonnes. Exports rose in January on the back of increased sales to Europe, which rose from 2.7 million tonnes in December to 4.8 million tonnes in January.A strong end to 2018 meant that volumes for the full year totalled 87.4 million tonnes, 96.7% higher than the 44.4 million tonnes exported in 2017. This is good news for the crude oil tanker sector…
US Oil Export Boom Sparks Battle to Build Texas Ports
Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years.Of seven proposed oil-export projects, nowhere is the opportunity greater or the competition more fierce than in Corpus Christi, Texas, where three firms are vying to open the state's first deepwater port.Commodities trader Trafigura has taken an early lead with a planned offshore facility that has an easier…
LOOP Resumes Normal Operations After Storm
The Louisiana Offshore Oil Port (LOOP), the largest privately-owned crude terminal in the United States, said it resumed normal operations at its Marine Terminal on Thursday after operations were suspended ahead of Hurricane Michael.Major oil producers and drillers began returning workers and restoring output at U.S.
US Oil Exports to Asia May Slide Further
Rising shipping rates have increased the costs of shipping oil from the United States to Asia and may further the restrict the flow of U.S. oil to the region later this year, multiple trade and shipping sources said on Thursday.Freight rates for tankers that carry crude oil have soared globally, buoyed by peak seasonal demand, weather disruptions and higher bunker fuel costs, the sources said.The cost of chartering a Very Large Crude Carrier (VLCC) capable of carrying 2 million barrels of crude from the U.S.
Dallas Company Secures Permits to Expand Crude Export Hub at Texas Port
Jupiter MLP LLC, a Dallas-based logistics company, has secured permits to expand a crude export dock at the Port of Brownsville in Texas, the latest in a series of moves made by U.S. companies to tap into booming overseas shipments.The expanded dock space will be able to accommodate Suezmax-size vessels, the company said in a statement Thursday.Privately-held Jupiter has also begun the permitting process to build an offshore supertanker loading facility six miles (9.6 km) off the coast of Texas.The facility will be connected to the expanded dock…
The Crowley Way
Walk in the front door at Crowley Maritime Corporation HQ in Jacksonville, Fla., and you learn nearly everything you need to know about the company. With your visitor’s badge, you are handed a “Safety and Evacuation” brochure, and the person you are there to meet – in our case Tom Crowley, Jr. – walks down to greet you personally. Safety and People; The Crowley Way. The rest is just details. Crowley Maritime was founded in 1892 by Thomas Crowley in San Francisco. Its fleet: A single Whitehall rowboat purchased for $80, used to ferry people and supplies from shore to ships anchored in the Bay.
Louisiana Cargo Transfer Terminal Approved
Approval clears way to create nation’s largest deepwater containerized cargo transfer terminal, enhancing U.S. competitiveness as Panama Canal expands. Transshipment facility off Louisiana coast intended to improve America’s strained shipping infrastructure, streamline international trade flow and create long-term jobs in 32 states. Louisiana State Senator A.G. Crowe’s vision of making America more competitive and capitalizing on the Gulf of Mexico’s deep-water resources has taken…