Port of Corpus Christi prepares to accommodate larger tankers

The Port of Corpus Christi in Texas should be capable of loading Aframaxes, Suezmaxes and partially loaded VLCCs to export US crude by October 2020, an executive with the Carlyle Group, the company that is involved in the port’s expansion, informed.

Namely, Ferris Hussein, managing director at The Carlyle Group, noted that the Port is expected to be ready by October, 2020, at 54 feet. This will enable it to accommodate Aframaxes, Suezmaxes and partially loaded VLCCs to export crude.

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https://safety4sea.com/port-of-corpus-christi-prepares-to-accommodate-larger-tankers/

OPEC crude production sees lowest level in 4 years

OPEC crude production sees lowest level in 4 years
OPEC crude production fell by 240,000 b/d in February to 30.68 million b/d, its lowest level in 4 years, said Gibson Shipbrokers in its weekly tanker market report. The heavy crude market is already incredibly tight and production cuts come at a time when demand for heavy grades is rising, the report notes.

Middle East

A disappointing week for previously hopeful VLCC Owners, slow throughout as final March needs were merely dripfed into the marketplace, with full April programmes only in hand...

https://safety4sea.com/opec-crude-production-sees-lowest-level-in-4-years/

Fearnleys: VLCC activity ‘far disappointing’ last week

Fearnleys: VLCC activity ‘far disappointing’ last week
In its weekly report for 12-20 March, Fearnleys said that VLCC activity has been far disappointing, the market for Aframaxes trading in the North Sea and Baltic came off significantly, while for the Suezmax type, continued sparse activity in the West has allowed Charterers to pull rates even further down.

VLCC

With the March VLCC MEG program behind, the owning community was looking forward to a sprout of activity for early April with ambition to push rates up in to the ws60 eastbound. However,...

https://safety4sea.com/fearnleys-vlcc-activity-far-disappointing-last-week/