A Saudi supertanker carrying the first export cargo from the United States' only port capable of handling the world's biggest oil tankers has arrived off China. According to the website TankerTrackers.com, the Very Large Crude Carrier (VLCC) Shaden has now arrived at an offshore anchorage at the Port of Rizhao. The company has been tracking the Saudi Arabian-owned Shaden … [Read more...]
Louisiana Offshore Oil Port Loads Second Supertanker with U.S. Crude for Export
NEW YORK, March 28 (Reuters) - A second supertanker laden with U.S. crude set sail in March from the Louisiana Offshore Oil Port (LOOP), the largest privately owned crude terminal in the United States, the company said in a statement late on Tuesday. The very large crude carrier (VLCC), Nave Photon, was chartered by Houston-based Shell Trading Company US and the cargo was … [Read more...]
Supertankers Sailing from U.S. to Cut Time, Money and Traders
By Serene Cheong (Bloomberg) -- Big oil tankers sailing from the U.S. are set to bring along some benefits for refiners in Asia while allowing them to sidestep traders serving the world’s top crude-buying region. The new option to load oil into very large crude carriers at the U.S. Gulf Coast terminal operated by the Louisiana Offshore Oil Port, or LOOP, will reduce costs … [Read more...]
First Supertanker Fully Laden with U.S. Oil Sets Sail for China
By Javier Blas and David Marino (Bloomberg) -- The flood of U.S. oil exports stepped up a gear on Monday after the first fully laden supertanker sailed from an American port, alleviating a bottleneck that’s limited overseas shipments. The Louisiana Offshore Oil Port, or LOOP, the only deep water port in the U.S. able to handle the industry’s biggest tankers, said in a … [Read more...]
The LOOP’s About-Face on Oil Imports Cues U.S. Drive Into Global Market
By David Wethe and Sheela Tobben (Bloomberg) -- The latest example of America’s turnaround from buyer to supplier in the global oil market can be seen 20 miles off the coast of Louisiana. There, buoys that served as critical infrastructure for bringing crude into the U.S. for more than 30 years are being readied for the exact opposite purpose: pump oil into massive … [Read more...]