Crude exports out of the Gulf Coast averaged 5.1 MMb/d (far right of chart below) for the week ended June 5. As discussed in our Crude Voyager Report, Louisiana posted its strongest week since August 2023, averaging 864 Mb/d of exports. The increase was driven by elevated activity at the Louisiana Offshore Oil Port (LOOP), which loaded its highest weekly volume since November 2024. Five Very Large Crude Carriers (VLCCs) loaded at LOOP during the week, helping offset weaker export volumes from Houston and Corpus Christi and supporting the highest weekly VLCC departure count since September.
The more significant story was the elevated level of co-loading activity between Corpus Christi and LOOP. Co-loading in crude oil shipping refers to a vessel loading portions of its cargo at multiple terminals, ports, or offshore facilities before departing for its destination. Rather than taking its entire cargo from a single loading point, the vessel "builds" the cargo through a series of partial loadings. This is common in the U.S. Gulf Coast, where export terminals often have different draft restrictions, storage capabilities, crude grades, or scheduling constraints.
While co-loading between Louisiana and Texas terminals is a common Gulf Coast practice used to load light sweet crude alongside heavier, more sour grades, the scale of activity last week was notable. Typically, only one or two Texas-Louisiana co-loads occur in a given week. However, four of the five VLCCs loading at LOOP last week co-loaded, marking the highest weekly count of Corpus Christi-LOOP co-loading operations on RBN’s records.
The elevated co-loading activity highlights the increasingly complementary relationship between South Texas and Louisiana export infrastructure. Rather than competing directly for volumes, Corpus Christi and LOOP are functioning more like an integrated export system, allowing traders to assemble customized crude slates for Asian refiners while improving vessel utilization and maximizing VLCC economics.
