2018 has been a year of rapid increase for U.S. oil production and exportation. In April alone, a total 1,599 kbd departed from the United States towards foreign destinations, the second highest monthly amount in at least the past decade. The rise in U.S. exports has brought with it new global trade flows, one of which includes Condensate moving from Corpus Christi to the ADNOC Ruwais Refinery complex. Aramco Trading Company has played a pivotal role, chartering at least two vessels since March. SK Corporationalso chartered a vessel in early February. In total, five vessels have departed towards the UAE this year:

  1. Aframax Minerva Clara – originally loaded approximately 702,000 barrels of Condensate on January 1st at the Corpus Christi Public Oil Dock before discharging her load at Ruwais Refinery on February 10th.
  2. Suezmax Nordic Pollux – originally loaded approximately 995,300 barrels of Condensate on February 6th at the Corpus Christi Public Oil Dock before discharging her load at Ruwais Refinery on March 16th.
  3. Suezmax Astra – originally loaded approximately two 500,000-barrel Condensate lots, the first at Buckeye Texas Hub on March 30th and the second through an STS transfer with the Eagle Texas at the Corpus Christi lightering zone on April 4th before discharging her entire load at Ruwais Refinery on May 9th.
  4. Aframax Laurel – originally loaded approximately 650,000 barrels of Condensate at the Corpus Christi Public Oil Dock on April 13th. AIS signaling has her arriving at the UAE on May 27th.
  5. Suezmax South Sea – originally loaded approximately two 500,000-barrel Condensate lots, the first through an STS transfer with the Eagle Kinabalu on May 10th and the second at Buckeye Texas Hub on May 14th. AIS signaling has her arriving at the UAE on June 19th.