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America's Supertanker Terminal Set to Export Oil for the First Time

America's Supertanker Terminal Set to Export Oil for the First Time

The flood of crude leaving the U.S. could be about to get a major boost: the nation’s top imports terminal is testing one of the industry’s biggest tankers to load an export cargo for the first time.

If the trial run signals the start of regular exports from Louisiana Offshore Oil Port, it will be a step change in America’s capacity to export the burgeoning production that’s roiled global oil markets. The ability to load very large crude carriers, the industry term for giant ships able to carry two million barrels, will significantly cut the cost of shipping cargoes overseas.

 

While U.S. crude has already been exported using supertankers, other ports are too shallow to allow full loadings, meaning smaller ships must shuttle multiple cargoes to the giant vessels as they wait to load offshore. LOOP, because of the depth of the waters around it, would allow the industry’s largest tankers to load in one go.


Continued: https://www.bloomberg.com/news/articles/2018-02-13/america-s-supertanker-terminal-set-to-export-oil-for-first-time?utm_source=yahoo&utm_medium=bd&utm_campaign=headline&cmpId=yhoo.headline&yptr=yahoo