Crude oil terminals across the U.S. Gulf Coast loaded their highest weekly shipments at 4.8 MMb/d in the week ended August 25 as per the Crude Voyager report. The volume was 686 Mb/d higher than the previous week and up 125 Mb/d from the previous record set in early March.
Houston-area terminals loaded their highest weekly volume on file at 1.4 MMb/d, up 93 Mb/d from the previous record. Louisiana-area terminals loaded over 935 Mb/d, a near-record level. The Beaumont region, where activity has been lackluster since the beginning of August, loaded the highest volume of crude oil in five weeks. The Corpus Christi area, which was the only region that loaded fewer cargoes than the previous week, still loaded more than 2.2 MMb/d, notwithstanding the drop in weekly shipments. Including last week’s cargoes, the Houston region has loaded 25% of all Gulf Coast barrels for export so far this year, averaging 907 Mb/d. With most pipeline connections to Corpus Christi running near capacity, more barrels have been routed to Houston-area terminals for loading in the last few months. Hence, volumes are up significantly from the 747 Mb/d noted at the same time last year in the region.
A record number of tankers, 41, loaded directly across the terminals, up eight from the previous week. More Aframaxes, 15, loaded across the terminals, up from eight noted in the previous week. With the addition of West Texas Intermediate (WTI) Midland barrels in the pricing of Dated Brent, more Aframaxes are now chartered from the U.S. to Europe, given the 700-Mbbl cargo size for the assessment.
