The Argus News

The surge in the spot price of liquefied natural gas (LNG) has dragged seaborne thermal coal prices higher, but only for the higher quality grades that can substitute for natural gas in power generation.The spot price of LNG in Asia more than doubled last week as the market digested the loss of nearly 20% of the global supply of the super-chilled fuel after the U.S. and Israeli strikes on Iran effectively closed the Strait of Hormuz, shutting off Qatar's LNG.LNG for delivery to…

Asian spot liquefied natural gas prices started the year steady, as muted regional demand and ample supply kept the market flat following a 34% slump in 2025.The average LNG price for February delivery into Northeast Asia LNG-AS was estimated at $9.60 per million British thermal units (mmBtu), unchanged from the previous week, industry sources said."Market conditions remain relatively calm and are largely dominated by bearish sentiment," said Siamak Adibi, director for gas and LNG supply analytics at consultancy FGE…

ABS has issued an approval in principle (AIP) to Light Structures for its new hull monitoring concept, ARGUS-VM.The ARGUS-VM concept received a SMART (SHM) Tier 1 AIP from ABS, which provides an industry recognition that the product complies with the functional and system requirements listed in the ABS Guide for Smart Functions for Marine Vessels and Offshore Units.Unlike traditional hull monitoring systems that require physical strain sensors, ARGUS-VM provides virtual measurements of hull responses using vessel data from existing onboard systems.

The global liquefied petroleum gas (LPG) market is facing an upheaval as high tariffs on U.S. imports force Chinese buyers to swap American cargoes for alternatives from the Middle East, while U.S. shipments divert to Europe and elsewhere in Asia.The shakeup is expected to depress the shale gas byproducts' prices and demand, hurt the bottom lines of U.S. shale producers and Chinese petrochemical companies, and boost the appetite for alternatives such as naphtha.It is also expected to benefit Middle East suppliers…

Asian spot liquefied natural gas (LNG) prices remained at a near one-year low this week, as supply disruptions from three export facilities in the region and some buying interest capped losses fuelled by overall weak demand.The average LNG price for June delivery into north-east Asia LNG-AS was at $11.50 per million British thermal units (mmBtu), estimated industry sources, down from $11.80/mmBtu last week but still at its lowest levels since mid-May."Lower Asian LNG prices this week prompted opportunistic buying by some East Asian importers, while supply disruptions at export projects in Australia and Brunei provided support to otherwise falling regional fundamentals…

Asian spot liquefied natural gas (LNG) prices remained at their lowest level in nearly six months on Friday as U.S. President Trump's "liberation day" tariffs pulled global markets down amid fears of a global recession.The average LNG price for May delivery into north-east Asia LNG-AS remained unchanged from last week at $13.00 per million British thermal units (mmBtu), the lowest level since October 11, industry sources estimated."The risk of a global trade war and economic slowdown is pulling down global stock markets and fears of slower growth will impact energy prices too…

The Coast Guard gets its first new polar icebreaker in more than 25 years.The Coast Guard has accepted its first new polar icebreaker in more than 25 years, but it’s not really new. The 12,900-ton, 360-foot Anchor Handling Tug Support Ship (AHTS) Aiviq was acquired by the Coast Guard and renamed USCGC Storis (WAGB 21).According to a Coast Guard statement, “On Nov. 20, the Coast Guard purchased the M/V Aiviq, a 360-foot U.S.-built polar class 3-equivalent icebreaker for $125 million in a deal with Offshore Surface Vessels LLC.

As global reliance on subsea infrastructure grows, so do the risks. Discover how safeguarding undersea assets opens new frontiers for innovation and investment.Importance of Subsea InfrastructureSubsea infrastructure plays a critical role in maintaining the operational continuity of the modern society and the global economy. This vast network includes subsea data and communication cables, pipelines for energy transportation, electricity cables, and resource extraction systems.

Traders diverted at least six cargoes of liquefied natural gas that were on course for Asia to Europe earlier this month, drawn by higher European prices and amid weak Asian demand, according to analysts and shipping data.The diverted cargoes could help meet additional European demand as countries seek to replace piped Russian gas after the Ukraine transit deal expired on Jan. 1, while weather forecasts point to lower temperatures in northwest Europe.The vessels had loaded in the U.S.

Vard has delivered a new cable laying vessel (CLV) to Denmark’s subsea specialist NCT Offshore less than two years after the contract was signed.The newly delivered vessel, based on the VARD 9 01 design, has been specially designed and equipped for subsea cable laying operations.In less than 18 months since the first steel was cut, the vessel has been assembled, outfitted, commissioned, and is ready to commence her maiden voyage towards Denmark where she will be further fitted and tested…

Liquefied natural gas shipping rates have hit multi-year lows and may extend losses going into 2025, analysts and shipping sources said, with new tankers being added at a faster rate than LNG production is rising and spot demand still tepid.New LNG tankers, built in anticipation of rising U.S. exports after a plunge in Russian gas supplies to Europe in 2022, are coming online earlier than liquefaction projects, which have been delayed amid inflation from strong wage growth and a shortage of skilled labour and equipment.With more ships expected to come…

Singapore's largest bunker fuel supplier Equatorial Marine Fuel is expanding its tanker fleet, a company executive told Reuters this week, adding it will receive its first IMO type 2 chemical bunker tanker before the end of 2024 and three more in 2025.These four tankers will add to the company's existing fleet of 20 conventional bunker tankers, said Choong Sheen Mao, chief operating officer at Equatorial Marine Fuel.Choong said half of Equatorial's current fleet is currently delivering…

Logistical constraints at the Port of Vancouver mean waterborne oil exports from the highly anticipated Trans Mountain pipeline expansion due to start up on Wednesday may only be around half what the Canadian government-owned corporation has forecast, traders and shipping sources said.The C$34 billion ($24.82 billion) project to nearly triple the flow of crude from Alberta to Canada's Pacific Coast to 890,000 barrels per day is scheduled to start operating on May 1 after years of regulatory delays and construction setbacks.The extra 590…

The much-needed replacement for the U.S. Coast Guard’s long-serving medium endurance cutters (WMEC) took a giant step closer to joining the fleet as the first Offshore Patrol Cutter (OPC) was launched and christened at Eastern Shipbuilding Group (ESG) in Panama City, Fla. on October 27, 2023.The future USCGC Argus (WMSM 915) was christened by the ship’s sponsor, Captain (Ret.) Beverly Kelley, the first woman to command a U.S. military vessel, the 95-foot patrol boat, USCGC Cape Newagen (WPB 95318).

Russia has pledged to disclose more data about the volume of its fuel refining and exports after OPEC+ asked Moscow for more transparency on classified fuel shipments from the many export points across the vast country, sources at OPEC+ and ship-tracking firms told Reuters.Russia is the only member of OPEC+ which contributes to export cuts rather than production cuts as part of its participation in the group's agreement to curb supplies. Market analysts have struggled to verify…

The lead ship in the U.S. Coast Guard's Heritage-class Offshore Patrol Cutter (OPC) program, USCGC Argus (WMSM-915), was launched and christened during a ceremony at Eastern Shipbuilding Group's Nelson St. Shipyard in Panama City, Fla.Attended by more than 3,000 guests, the event featured a keynote address delivered by Admiral Linda Fagan, Commandant of the U.S. Coast Guard.“The Offshore Patrol Cutter (OPC) is one of the service’s highest acquisition priorities and is absolutely…

With a lame-duck CNO, a divided Congress and the impending launch of the next Presidential election cycle, America’s naval market is locked into something of a fragile and fearful autopilot, cruising inexorably towards whatever excitement 2024 might bring.Materially, don’t expect much change: The demand for naval platforms will continue to outstrip available funding, meaning there will be little movement or growth in America’s major shipbuilding programs of record. The procurement outlines are already set.

Asian spot liquefied natural gas (LNG) prices have weakened for the fifth consecutive week on muted demand due to healthy stocks, remaining at their lowest level in two years.The average LNG price for July delivery into north-east Asia was down 3% from the previous week at $9.50 per million British thermal units (mmBtu), the lowest since early May 2021, industry sources estimated."North Asia remains largely void of demand. Prices have continued to walk down week-on-week and support hasn't been helped by Japanese utilities selling into an already weak market…

Asian spot liquefied natural gas (LNG) prices slipped to their lowest level in two years on weak demand and high inventories, while European LNG prices also fell below the $10 mark amid healthy stock build and limited need for additional supply.The average LNG price for July delivery into northeast Asia was down 6.6% from the previous week at $9.8 per million British thermal units (mmBtu), the lowest since May 2021, industry sources estimated."Prices continue to linger sub $10 as general demand remains lacking…

Global fuel suppliers are turning to longer and costlier routes that produce more carbon emissions to move their diesel and other products as Western restrictions on Russian cargoes have reshuffled global energy shipping patterns.As a result of the European Union ban on Russian fuel that started on Feb. 5, tankers carrying clean oil products such as gasoline, diesel, jet fuel and naphtha are traveling between 16 and 18 days to bring Russian supplies to Brazil or U.S. cargoes to Europe…

Fairbanks Morse Defense (FMD) on Thursday announced it has been awarded a contract from shipbuilder Austal USA to supply a range of equipment to support the construction of WMSM-919, the U.S. Coast Guard’s next Heritage-class Offshore Patrol Cutter (OPC).FMD, which has been expanding its offering as single-source maritime defense contractor, said its cross-company package for WMSM-919 includes two main propulsion diesel engines through Fairbanks Morse Defense, a hangar door and stores elevator through Federal Equipment Company (FEC)…

When Hurricane Michael slammed the Florida Panhandle in October 2018, the deadly category 5 storm inflicted billions in damages to the region, tearing apart homes and businesses in its path. Among those severely impacted was Eastern Shipbuilding Group, which suffered a nearly direct hit at its Allanton shipyard, located about 15 miles east of the company’s headquarters and main yard in Panama City.Eastern, which had been scheduled to begin building the first of up to 11 Heritage-class Offshore Patrol Cutters (OPC) for the U.S.

Several ships carrying liquefied natural gas (LNG) anchored off Spain's Bay of Cadiz are likely to stay there until late November in anticipation of a rise in European gas prices, industry sources said.Dozens of ships have been circling off the Iberian coast and in the Mediterranean sea for weeks, unable to secure slots to unload their LNG cargoes as plants that convert the superchilled fuel back to gas are operating at maximum capacity.The high volume of LNG in floating storage exposes Europe's lack of "regasification" capacity just as the continent stocks up for a winter of substantially less Russian pipeline gas.But industry sources say some of the waiting ships are part of a trading strategy from their respective companies…