Crude oil boosts Port of Corpus Christi to 2020 tonnage file
The port set a brand new annual tonnage file of 159.7m tonnes, a 31% improve over 2019, in addition to a brand new month-to-month file of 15.9m tonnes for December, 15% larger than December 2019. This efficiency helped push fourth quarter outcomes to a brand new quarterly file of 42.2m tonnes, surpassing the prior file from Q1-2020.
A number of new marine terminals have been introduced on-line in 2020, together with EPIC Midstream, Buckeye’s South Texas Gateway, Plains All-American and Enterprise Merchandise’ Eagle Ford Terminal three way partnership, Pin Oak Corpus Christi, and South Texas Cement.
Along with elevated crude oil shipments totalling 96.4m tonnes, the Port noticed a 26% improve in LNG shipments at 8.7m tonnes, and agricultural exports rising 70% in 2020 at almost 4.3m tonnes. Corpus Christi consolidated its place because the Nation’s main power export gateway with a file 1.9m barrels per day of crude oil exports in December 2020.
“Despite the extraordinary challenges we navigated in 2020, the Port of Corpus Christi and its customers have yet again demonstrated the resiliency of this strategic gateway for American goods to reach the global demand centres. This record performance is a clear indication of the importance of our critical infrastructure for Texas and the Nation,” mentioned Sean Strawbridge, ceo for the Port of Corpus Christi.
“American energy exports remain strong, and our ESG programs continue to lead the sector as we enter an era of economic recovery.”
The Port of Corpus Christi and the South Texas Coastal Bend has seen almost $55bn in non-public industrial investments over the previous 5 years, an unprecedented degree of progress leading to a vibrant regional economic system.
Extra investments in infrastructure embrace the Corpus Christi Ship Channel Enchancment Challenge, which as soon as accomplished in late 2023 would be the deepest and widest ship channel in all the US Gulf. Extra investments embrace expanded rail capability to serve all North American markets with three Class 1 railroads and over 4,000 acres out there in public-private partnership improvement choices for corporations in search of a extra favorable enterprise local weather.
“The Port of Corpus Christi plays a vital role to not only the Coastal Bend economy, but that of the State of Texas and the Nation,” mentioned Charles W. Zahn, Port of Corpus Christi Fee chairman.
“The success that the Port has been able to realise in 2020, despite its challenges, is a direct result of everyone working toward a common goal – to ensure essential goods continue to flow during this difficult time and that economic recovery continues on an upward trend.”
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