Various ports in the U.S. Gulf Coast (USGC) continue to pursue strategies to boost market share and enhance operational efficiency, with many undergoing various long-term expansion and dredging projects to accommodate larger vessels and increase loading capabilities. Last week, Very Large Crude Carrier (VLCC) export volumes out of the USGC jumped up to 13 MMbbl — the highest weekly total since week ending July 26, 2024. Ten VLCCs loaded out of the Gulf Coast for export between Friday March, 14 and Friday, March 21. The majority of these VLCCs loaded out of Enbridge Ingleside Energy Center (EIEC) (far right green bar in chart below) while the remainder loaded out of South Texas Gateway (STG) (far right blue bar in chart below) as highlighted in our Crude Voyager report.
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How Much More Can She Stand, Part 8 - Ingleside's Quick Rise to Crude Exports Prominence
Since last summer, the Corpus Christi area has emerged as the U.S.’s leading crude export venue. In the first five and a half months of 2020, it accounted for an astounding 45% of the barrels being shipped abroad — astounding because in the same period last year, the Corpus area held less than a 20% share. What is sometimes forgotten, though, is that little Ingleside, TX, located across Corpus Christi Bay from Corpus proper, is the area’s crude-export leader, with the Moda Midstream and Flint Hills Resources terminals responsible for just over half of Greater Corpus’s total export volumes. And, with the new South Texas Gateway Terminal nearing completion, Ingleside’s role will only increase in the coming months. Today, we conclude a series on Gulf Coast export terminals with a look at what has been going on in Ingleside.
This Must Be the Place - Enbridge Expands Corpus Christi Assets to Bolster Crude Exports
Enbridge’s recent $200 million deal to buy two marine docks and land in Ingleside, TX, from Flint Hills Resources (FHR) may not be much of a surprise, as expanding its role in U.S. crude exports has been part of Enbridge’s strategy since it bought Moda Midstream’s big marine terminal next door nearly three years ago. The former Moda terminal, now known as the Enbridge Ingleside Energy Center (EIEC), can receive and partially load Very Large Crude Carriers (VLCCs) — a key reason why the facility is #1 in crude exports in the nation. In today’s RBN blog, we will take a closer look at Enbridge’s deal with FHR and how it might help grow its crude export volumes.
Rolling in the Deep - Corpus Christi Dredging Projects Create New Opportunities for Crude Oil Exporters
The 35-year dream of widening the Corpus Christi Ship Channel and deepening it to 54 feet from the old 47 feet is at long last a reality. The $625 million project also has spurred marine-terminal owners in Corpus Christi and Ingleside to undertake — or at least consider — major dock and dredging projects that would enable them to make full use of the deeper 30-mile channel. In today’s RBN blog, we discuss the newly completed channel-dredging project, related terminal improvements, and what they all mean for crude oil exporting economics in Corpus Christi.
