Borderlands is a weekly rundown of developments on the earth of United States-Mexico cross-border trucking and commerce. This week: Port of Corpus Christi turns into world crude oil provider; Port of Brownsville secures $43M mortgage for ship channel enlargement; US Lumber Brokers acquires Texas distribution middle; and Holt Truck Facilities expands throughout Texas with acquisition.
Port of Corpus Christi turns into world crude oil provider
CORPUS CHRISTI, Texas —The shores alongside the Corpus Christi Ship Channel are lined with large storage tanks, grain elevators and oceanbound vessels docked alongside the 34-mile blue-green waterway.
Since Congress repealed the crude oil export ban in 2015 and allowed U.S. crude oil to be bought on the world market, the Port of Corpus Christi has turn out to be a world crude oil refinery hub.
The port is the most important exporter of oil and fuels within the U.S. and the third-largest exporter of crude oil on the earth, behind the top-ranked Ras Tanura port in Saudi Arabia and the Basrah Oil Terminal in Iraq.
The Port of Corpus Christi can be the highest U.S. exporter of liquefied pure fuel.
“I began right here in 2015, when the Obama administration lifted the export ban, and I noticed the primary vessel sail out of Corpus Christi with the primary load of home crude headed to a global market,” TJ Gonzalez, the port’s business and enterprise growth supervisor, instructed FreightWaves throughout a media occasion on Oct. 11. “Since then, our crude oil exports have elevated 17 instances; it’s what has put us on the map, being the No. 3 export gateway for crude oil on the earth.”
The Netherlands is the highest crude oil export marketplace for the Port of Corpus Christi, adopted by a number of different European and Asian nations.
The ship channel, which extends into the Gulf of Mexico, has helped the port export crude oil globally at an growing price, shifting 33.5 million tons throughout the third quarter, a 3% year-over-year improve.
Through the third quarter, the port achieved a quarterly file with 53 million whole tons of freight moved. There have been additionally smaller will increase in volumes for refined merchandise, liquefied pure fuel and dry bulk items, in line with a information launch.
By the primary eight months of the yr, commerce on the Port of Corpus Christi elevated 9% yr over yr to $60.29 billion, in comparison with the identical interval in 2023, in line with Census Bureau knowledge compiled by WorldCity.
“Two of our bigger oil prospects are Enbridge and Gibson Power,” Gonzalez mentioned. “Enbridge roughly strikes about 950,000 barrels per day, with Gibson shifting a further 500,000 barrels per day, after which the remainder of our midstream companions make up the distinction. That builds as much as 2.5 million barrels per day on the port.”
The port just lately kicked off the fourth and last portion of its $682 million mission to deepen the ship channel to 54 toes. The mission is scheduled to be accomplished subsequent yr.
The goal of deepening the channel is to maneuver vessels carrying thousands and thousands of gallons of crude oil and different commodities sooner and extra effectively, Gonzalez mentioned.
“By this time subsequent yr, from the Gulf of Mexico during the interior harbor, we can be at 54 toes … and we have a look at sail instances from this space right here to deep water, you’re taking a look at a couple of two-hour sail time on a big crew service,” Gonzalez mentioned. “While you have a look at our benchmark in opposition to different ports all through the Gulf Coast, these instances are possibly eight to 10, 12, to fifteen hours. Delivery brokers like to have the ability to get the ships into deep water and have the ability to get them out and get to the subsequent vacation spot faster.”
Port of Brownsville secures $43M mortgage for ship channel enlargement
Aiming to lure bigger business vessels to South Texas, the Port of Brownsville introduced it has obtained a $43 million mortgage that can allow it to maneuver ahead with its Brazos Island Harbor Channel Enchancment (BIH) mission.
The funds from the Texas Division of Transportation will go towards deepening the 17-mile-long Brownsville Ship Channel from 42 toes to 52 toes.
“This infrastructure funding will strengthen the port’s aggressive benefit because the main maritime hub in South Texas and help financial growth for the area,” Port Director and CEO William Dietrich mentioned in a information launch.
The BIH mission is funded via a public-private partnership involving the U.S. Military Corps of Engineers, the Port of Brownsville and liquefied pure fuel developer NextDecade.
The whole value of the BIH mission may very well be round $300 million. The work is estimated to be accomplished by the top of 2026.
Positioned 277 miles south of San Antonio on the southernmost tip of Texas alongside the Gulf of Mexico, the Port of Brownsville is the one deep-water seaport positioned alongside the border, making it a serious commerce channel between Texas and Mexico.
US Lumber Brokers acquires Texas distribution middle
US Lumber Brokers has acquired a 20,000-square-foot distribution middle in Del Valle, Texas.
The acquisition is a part of the corporate’s enlargement efforts within the Texas market, in line with a information launch.
“This acquisition not solely expands our operational footprint but additionally reinforces our dedication to offering the best high quality lumber and specialty merchandise to our prospects,” Isabel Rodriguez, vice chairman of US Lumber Brokers, mentioned in a press release. “With this new facility, we’re well-positioned to fulfill the rising demand within the trade.”
Phrases of the transaction weren’t disclosed.
US Lumber Brokers is headquartered in Austin, Texas, about 8 miles west of Del Valle. The corporate provides and distributes wooden merchandise from around the globe.
Holt Truck Facilities expands throughout Texas with acquisition
San Antonio-based Holt Truck Facilities has acquired Kyrish Truck Facilities, increasing the corporate’s footprint in Texas to 35 areas.
The acquisition makes Holt Truck Facilities the nation’s third-largest supplier of heavy vans made by Worldwide Motors, in line with a information launch. Phrases of the acquisition weren’t disclosed.
Houston-based Kyrish Truck Facilities is a family-owned and -operated firm based in 1976. The agency sells medium-duty, heavy-duty and extreme service-duty vans, and is a supplier for IC Bus automobiles in addition to Worldwide Motors.
The 550 workers of Kyrish Truck Middle will turn out to be workers of Holt Truck Facilities and can proceed to function from their present areas.
Holt Truck Facilities gives full service, rebuilds and components for all makes and fashions of on-highway vans. The corporate additionally sells new and used on-highway vans and trailers.
The submit Borderlands Mexico: Port of Corpus Christi turns into world crude oil provider appeared first on FreightWaves.