Data from the Crude Voyager report shows that crude oil shipments across the U.S. Gulf Coast fell by a steep 1.2 MMb/d to 2.5 MMb/d for the week ended June 9 — the lowest in nearly 15 months. All regions, except for Louisiana, loaded fewer cargoes last week. After a phenomenal rush to load cargoes that averaged 3.8 MMb/d in the first four months of the year, the hectic pace of activity has slowed down since early May, carrying the same momentum into the first week of June as well. The Corpus Christi region loaded 857 Mb/d fewer shipments and loadings from the Houston region dropped by 407 Mb/d last week.
Only 20 vessels, including three Very Large Crude Carriers (VLCCs) loaded barrels at export terminals last week, down six from the previous week. Four vessels loaded twice during the week at two different terminals. Six tankers reverse-lightered their cargoes onto a larger vessel, including one transaction that involved reverse-lightering onto a Suezmax. Of the tankers that loaded directly at an export terminal, nine were headed to Europe, indicating the region’s growing preference for U.S. barrels.
