Posted on October 17, 2018 by Ilias Kiritsis
The port of Corpus Christi appears to be largely unaffected by the continuing Trade War between the United States and China.
Over 79.3 million tons of goods were shipped in and out of the port in the first nine months of 2018, surpassing the previous record of 77.9 million tons established back in 2015.
The port’s impressive volume growth is mostly due to crude oil sales which saw over an 11% increase, followed by assorted petroleum products which saw an 8% increase.
This new record comes at a time of rising tensions between China and the United States. Until recently, China was responsible for importing over 23% of total US crude oil exports. While crude oil was left out of the tariff-war that has been waged between the two countries, the export of US crude oil to China dropped to zero last month.
However, this doesn’t seem to have affected the export of US crude oil which hit an all-time high this June at 2.2 million barrels a day and is expected to rise to 4 million by 2020.
The Corpus Christi port authority while optimistic over these developments has urged the US Army Corps of Engineers to hasten the development of the Corpus Christi Ship Channel Improvement Project (CIP). These improvements would see the canal depth go from 47 to 54 feet while widening it to 530 feet, thus allowing for even larger vessels to pass, while overall increasing traffic efficiency.