Demand for energy fuels record-breaking months
The Port of Corpus Christi keeps breaking records in shipping capacity and revenues as displayed in reports from the first four months of 2022.
Through the end of April, port customers moved 59.2 million tons of cargo, a 10.4 percent increase over the prior record set in 2020.
“I commend our customers for their continued growth and recovery from what was arguably the largest demand-destruction period in modern history as a result of the pandemic,” said Sean Strawbridge, chief executive officer for the Port of Corpus Christi. “It’s an amazing milestone to start the Port of Corpus Christi’s centennial year with these new records, highlighting the importance of this gateway to the state of Texas and the nation.”
Energy components are a huge percentage of the exports. Liquefied natural gas exports were at 5.4 million tons, a 56.2 increase over 2021 numbers. Refined products saw a 17.8 percent increase at 10.6 million tons shipped out. Crude oil shipments had a 9 percent increase to 34 million tons, exporting 1.85 million barrels of oil per day.
The Port of Corpus Christi also set new annual records in 2021. It showed a 4.7 annual increase over 2020, moving 157 million tons of cargo.
An 81.2 percent upswing of LNG exports in 2021 led the way in increases. Also fueling the increased tonnage was wind energy components, natural gas liquids, and refined gasoline.
Revenues for the first third of the year increased 19 percent to $57.4 million for the same period in 2021.
“With the Corpus Christi Ship Channel Improvement Project on the verge of receiving full project closeout funding from the federal government, coupled with the abundance of opportunities in energy transition initiatives, we have the table set for meeting the increasing energy demands of the global markets both today and well into the future,” Strawbridge said.
The port observes 100 years of serving Corpus Christi, the state, and the nation in 2022.
“The appetite for American energy remains stronger than ever, and the Port of Corpus Christi is committed to fulfilling that need as The Energy Port of the Americas,” said Charles W. Zahn Jr., Port of Corpus Christi Commission chairman. “As we celebrate the port’s 100th year of existence, the future of our region remains optimistic as we continue to focus on facilitating maritime commerce and fostering economic development for the Texas Coastal Bend.”
