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Released January 29, 2025 | SUGAR LAND
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Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--The more than 200 million tons of goods shipped out of the Port of Corpus Christi, Texas, set a record last year, supported by crude oil exports, the port authority said.
Opened in 1926 at a depth of 25 feet and a width of 200 feet, the port has been expanded several times to accommodate larger vessel classes.
In 2017, two years after the federal ban on crude oil exports was lifted, the Port of Corpus Christi welcomed its first-ever very large crude carrier (VLCC). The Anne docked at an export terminal to receive an estimated 2 million barrels of oil.
On Monday, the port reported that it set a quarterly record for tonnage during the three-month period ending December 31 with 54 million tons, supported by higher volumes throughout the year. Total tonnage was 1.7% higher than 2023, marking the seventh year in a row for record-setting exports.
Among commodities, the port said crude oil shipments increased year-on-year by 3.5% to reach 130.5 million tons, or roughly 956 million barrels annually. Dry bulk and agricultural goods saw an 8.1% increase in tonnage.
The port authority said it expected that the final phase of its expansion project would be completed this year.
"Once completed, the Coastal Bend region will be home to the most improved waterway on the Gulf Coast, from Texas to Florida, with a deeper (54 feet Mean Lower Low Water) and wider (530 feet) ship channel with additional barge shelves," it said.
Industrial Info is tracking five active Port of Corpus Christi projects, worth $1.91 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project and Plant databases can click here for the project reports and here for the plant profiles.
The port is the third-largest in the U.S. in total waterborne tonnage. For exports, the U.S. government in 2015 lifted a ban on foreign deliveries and, apart from 2021, has seen an increase in deliveries every year since.
Net total U.S. exports of crude oil and refined petroleum products last year averaged 10.6 million barrels per day (BBL/d), compared with 4.7 million BBL/d the year the export ban was lifted. South Korea, the U.K. and the Netherlands are typically the largest importers of U.S. crude oil.
The U.S. refinery system usually runs heavier types of crude oil, such as that found in Canada, through its refinery systems, leaving much of the produced light, sweet crude oil available for exports. Since 2022, that's helped support energy security in Europe, which curtailed imports of Russian crude as punishment for its invasion of Ukraine.
Since the U.S. export ban was lifted, the port authority said it backed investments of more than $1 billion in capital projects at home, while ensuring energy security abroad.
"Over the past 10 years, the Port Commission has supported the investment of more than $1 billion in capital projects to ensure our industry partners have the infrastructure they need to be successful," said David Engel, the chairman of the Port of Corpus Christi Commission.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Opened in 1926 at a depth of 25 feet and a width of 200 feet, the port has been expanded several times to accommodate larger vessel classes.
In 2017, two years after the federal ban on crude oil exports was lifted, the Port of Corpus Christi welcomed its first-ever very large crude carrier (VLCC). The Anne docked at an export terminal to receive an estimated 2 million barrels of oil.
On Monday, the port reported that it set a quarterly record for tonnage during the three-month period ending December 31 with 54 million tons, supported by higher volumes throughout the year. Total tonnage was 1.7% higher than 2023, marking the seventh year in a row for record-setting exports.
Among commodities, the port said crude oil shipments increased year-on-year by 3.5% to reach 130.5 million tons, or roughly 956 million barrels annually. Dry bulk and agricultural goods saw an 8.1% increase in tonnage.
The port authority said it expected that the final phase of its expansion project would be completed this year.
"Once completed, the Coastal Bend region will be home to the most improved waterway on the Gulf Coast, from Texas to Florida, with a deeper (54 feet Mean Lower Low Water) and wider (530 feet) ship channel with additional barge shelves," it said.
Industrial Info is tracking five active Port of Corpus Christi projects, worth $1.91 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project and Plant databases can click here for the project reports and here for the plant profiles.
The port is the third-largest in the U.S. in total waterborne tonnage. For exports, the U.S. government in 2015 lifted a ban on foreign deliveries and, apart from 2021, has seen an increase in deliveries every year since.
Net total U.S. exports of crude oil and refined petroleum products last year averaged 10.6 million barrels per day (BBL/d), compared with 4.7 million BBL/d the year the export ban was lifted. South Korea, the U.K. and the Netherlands are typically the largest importers of U.S. crude oil.
The U.S. refinery system usually runs heavier types of crude oil, such as that found in Canada, through its refinery systems, leaving much of the produced light, sweet crude oil available for exports. Since 2022, that's helped support energy security in Europe, which curtailed imports of Russian crude as punishment for its invasion of Ukraine.
Since the U.S. export ban was lifted, the port authority said it backed investments of more than $1 billion in capital projects at home, while ensuring energy security abroad.
"Over the past 10 years, the Port Commission has supported the investment of more than $1 billion in capital projects to ensure our industry partners have the infrastructure they need to be successful," said David Engel, the chairman of the Port of Corpus Christi Commission.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
