Japan’s Mol to commission LNG-fuelled car carrier

Spanish Market: Natural gas
13/03/24

Japanese shipping company Mitsui OSK Line (Mol) plans to commission a LNG-fuelled car carrier after its construction was completed today in west Japan's Ehime prefecture.

Domestic shipbuilder Shin Kurushima Dockyard built the vessel Cerulean Ace with capacity of 7,050 cars at its Onishi dockyard in Ehime. Mol plans to carry vehicles manufactured mainly by Japanese auto manufacturer Mazda.

Mol expects to curb carbon dioxide emissions by 25-30pc, sulphur oxide by 98pc and nitrogen oxide by 85pc by using LNG in its vessels compared with conventional marine fuel.

The company is targeting carbon neutrality by 2050 by boosting the number of its LNG- and methanol-fuelled vessels to 90 by 2030. Mol has also ordered vessel engineer Japan Shipyard to build LNG-fuelled car carriers. It also plans to charter a LNG-fuelled bulk carrier for domestic power utility Kansai Electric Power, starting from 2026.

By Nanami Oki

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09/10/26

Assembly talks key to Venezuela elections: Rubio

Caracas, 9 October (Argus) — Productive discussions between Venezuela's duel national assemblies are key to eventually holding new elections there, US secretary of state Marco Rubio said today after meeting with the leader of the opposition-controlled legislature. Head of the 2015-elected assembly Dinorah Figuera "has our 100pc percent support" in working towards electoral reform in Venezuela, Rubio said. The 2015 assembly — the last one the US recognizes as legitimate — and the acting assembly led by the brother of interim President Delcy Rodriguez began a series of reconciliation talks in August that will resume in a third phase on 14 October. The next round is meant to focus on selecting new member of the supreme court, which plays a key role in elections, and guaranteeing political rights, Rubio said. Future talks will seek to reform the national electoral council and repealing laws that repress freedoms. The meeting in Washington DC comes as former hopeful president candidate for the opposition Maria Corina Machado has been unable to return to Venezuela despite expressing a desire to do so. Machado and other members of Venezuela's political opposition that faced arrests and harassment under former leader Nicolas Maduro have called for quick elections after the US seized Maduro on 3 January. Some US oil producers have also pointed to elections as a key sign of long-term stability needed for major investments, but Rubio has repeatedly said that Venezuela's institutions must be stabilized first. A peaceful transition in Venezuela "will require a lot of hard work, a little bit of patience [and] free and fair elections", Rubio said. Acting national assembly leader Jorge Rodriguez has pointed to potential elections in 2030 . Both Delcy and Jorge Rodriguez expect to continue in their roles until at least the end of the administration of US president Donald Trump in 2028, some national assembly sources have said. Protests have broken out in Venezuela in recent weeks, mostly against worsening public services and frequent power outages. The lack of clear results from assembly talks and no roadmap to elections are among other complaints. By Jose Chalhoub Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Singapore LNG secures bio-LNG bunkering capability

09/10/26

Singapore LNG secures bio-LNG bunkering capability

Singapore, 9 October (Argus) — State-owned Singapore LNG (SLNG) has secured certification to store, regasify and deliver bio-LNG, under the International Sustainability and Carbon Certification (ISCC) framework, the firm announced today. The terminal is among one of the first in the region to secure this certification for the handling of bio-LNG. The certification will also support LNG and bio-LNG bunkering and trucking services that comply with sustainability and traceability requirements. SLNG held a groundbreaking ceremony for the construction of Jetty 3 at its 11mn t/yr SLNG terminal on Jurong Island, announced on the same day. The new jetty is part of SLNG's strategy to expand its LNG and bio-LNG bunkering capabilities. It is scheduled for completion in the second half of 2028. Once completed, the expansion will provide up to 2mn t/yr of LNG bunker reloading capacity, including break bulk and other small-scale LNG operations. Jetty 3 will be the terminal's first dedicated facility for servicing small- and mid-scale LNG carriers with capacities ranging 5,800-80,000m³. The current infrastructure supports 1mn t/yr of LNG bunker reload. Jetty 3 will strengthen Singapore's ability to support the next phase of growth in LNG bunkering demand and reinforce its position as a leading global bunkering and LNG trading hub, said SLNG chief executive Leong Wei Hung. Consumption of LNG for bunkering declined by 13pc on the year to 58,600t in August from 67,000t a year earlier, while year-to-date demand totalled 435,600t up to August, according to the latest statistics released by the Maritime and Port Authority of Singapore (MPA). By Naomi Ong Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Australia’s ACCC cuts 1Q 2027 east coast gas forecast

09/10/26

Australia’s ACCC cuts 1Q 2027 east coast gas forecast

Sydney, 9 October (Argus) — Australia's east coast states will have a smaller-than-expected surplus of gas in the first quarter of 2027 due to falling supply, the Australian Consumer and Competition Commission (ACCC) projected in its latest Gas Inquiry September 2026 interim report. The ACCC is forecasting a surplus of 5-15PJ in Australia's east coast gas market in January-March 2027, depending on the amount of uncontracted gas exported by producers, the competition regulator said on 9 October. The projected surplus was revised down by 9PJ from the ACCC's June forecast, which anticipated a 15PJ surplus over the quarter if all uncontracted gas was exported. The downgrade was largely due to projected falls in southern state gas production and an increase in export demand. The ACCC predicts a surplus of 12PJ throughout 2027 if producers export all uncontracted gas, representing a 27PJ decline from its June forecast. Projected supply from southern state producers fell by 10PJ from the ACCC's last forecast, while supply from Queensland is predicted to be 3PJ higher because of greater production from the Surat basin, offset slightly by lower production in the Bowen basin. Supply in south-east Australian states will tighten over the winter as demand for heating increases, the ACCC said, but this will likely be met via additional gas from Queensland. Regulators anticipate there will be enough pipeline capacity to support necessary gas flows from Queensland. Surplus from January-March 2027 will also be important for meeting winter demand. The conflict in the Middle East did not appear to have materially affected domestic gas prices in Australia, and current domestic price levels are consistent with local supply and demand conditions, the ACCC said. By Emma Partis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

No plans to attack Iran before 3 Nov: Trump

08/10/26

No plans to attack Iran before 3 Nov: Trump

Washington, 8 October (Argus) — The US will not resume hostilities against Iran before the 3 November midterm congressional elections, President Donald Trump said on Thursday. The US is "having productive discussions" with Iran but the US naval blockade and campaign of economic pressure against Iran will continue, Trump said in a social media post. He claimed that 22mn bl of crude flowed through the strait of Hormuz on Wednesday under the protection of the US military. Trump's statement is not an ironclad assurance that direct hostilities between the US and Iran will not resume any time soon. Tehran has confirmed continued indirect dialogue with the US, through mediators, but chances of a diplomatic breakthrough appear low. Trump, meanwhile, is working to prevent a further increase in US retail fuel prices, which already have hurt the Republican party's chances of retaining control of both chambers of the US Congress at the midterms. WTI and Ice Brent crude futures climbed higher on Thursday after Iran expanded attacks on tankers in the Mideast Gulf and the strait of Hormuz. November Nymex WTI fell after Trump's statement, but it was still 4pc higher, at $91.65/bl, than the Wednesday settlement price as of 1:45pm ET. Iran has increased the pace of its attacks against commercial shipping in the last week, challenging the Trump administration's claim that it had restored oil flows through the strait of Hormuz to pre-war levels. The US-sponsored operation to enable transporting greater volumes of oil through Hormuz has significantly increased freight and insurance costs for the tankers that do make it to the Gulf of Oman without being hit by Iran. The Central Command (Centcom), which oversees the Middle East-based US forces, on Thursday pegged the daily flow of oil and other products through Hormuz at 20mn b/d. Centcom chief Admiral Brad Cooper, during a virtual meeting with the representatives of the freight industry "acknowledged the sacrifices made by civilian crews due to unwarranted Iranian attacks". The US Treasury Department, also on Thursday, announced sanctions on an additional 17 tankers accused of transporting Iranian bitumen, asphalt, ethylene, fuel oil, naphtha, propane and crude to markets in Asia. Treasury also announced sanctions against India-based broker Samudra Marine Services and 18 other companies in the UAE, UK, Turkey and other countries, accusing the firms of facilitating sales of Iranian crude and products. Do the midterms matter? Iran has been part of Trump's election narrative for about a month, as he claimed that Tehran is hoping for a victory by the US Democrats who, according to Trump, would be too soft on the Iranian government. Officially, Tehran has pronounced itself indifferent to the outcome of the US congressional elections. Tehran has pitched a plan to stop attacking ships passing through Hormuz if the US removes the naval blockade, pauses sanctions and repatriates frozen Iranian funds in foreign banks — effectively returning to the terms of the now defunct June "memorandum of understanding" between the US and Iran. Trump said earlier this month he rejected the proposal. But Iran's foreign minister Abbas Araghchi claimed on Thursday that the Iranian plan remains a subject of discussions. Trump encountered significant blowback in the US and the Mideast Gulf after concluding a deal with Iran in June, Washington think tank Arab Gulf States Institute executive vice-president William Roebuck said on 6 October. Trump as a result came to the conclusion that "he was better off leaning into the war through the midterms and not cutting a deal that would involve a lot of concessions that would reflect the kind of leverage that Iran had built up in the course of the the war," Roebuck said. US Democratic lawmakers earlier this year succeeded in advancing resolutions, with limited Republican support, that called on Trump to end hostilities with Iran. But even a majority-Democratic Congress cannot compel the White House to stop the war unless it votes down the Pentagon's request for supplemental funding to replenish the US munitions stocks and pay for other costs of the war — an issue that may not find broad support within the Democratic party. Trump appears to believe "that he'll be freer, actually, to do what he wants and to put more pressure" on Iran after the midterms, Roebuck said. "I don't think that's going to work, but that's the dynamic that (Trump is) working with." By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Increase in Iran ship attacks follows rise in targets

08/10/26

Increase in Iran ship attacks follows rise in targets

New York, 8 October (Argus) — Iran's recent increase in vessel attacks in the strait of Hormuz is likely the result of an increase in the number of targets in the region, but it is unclear whether this resurgence of attacks will hamper rising oil flows through the strait. Iran has increased the pace of its attacks against commercial shipping in the last week, with increasingly deadly results. Two attacks occurred around the strait of Hormuz on Wednesday, including the first attack inside the Mideast Gulf in a month, which resulted in multiple casualties . The number of casualties in the incident has not yet been confirmed. "Iran has seemingly more targets to shoot at now, which could mean that the same probability of impact is resulting in higher raw numbers of successful attacks," Joshua Tallis, research program director at the Center for Naval Analyses, told Argus . It is difficult to assess if Iran has improved its ability to target ships without the coastal radar capabilities the US claims it destroyed as part of its increased strikes in July, Tallis said. But it is reasonable to assume the country has adapted. "Higher traffic creates more opportunities for exposure, while shuttle operations send the same ships repeatedly through the risk area," Claire Jungman, director of maritime risk and intelligence at vessel tracking firm Vortexa, told Argus . Through 24 September, Vortexa identified 148 tankers involved in shuttle operations, with 85 tankers active during September, up from 11 in April, with 42 of those tankers completing four or more runs through the strait of Hormuz. "That repeat participation is important: this has become a regular operating model for a core group of ships," Jungman said. It is unclear if the recent increase in attacks against tankers will stymie the recovery of crude exports that are making their way — albeit very expensively and inefficiently — through the strait of Hormuz. "It's still a bit too early to say whether the most recent salvos would have an impact, but in the past we've seen attacks did not deter the main actors in the shuttle trade," Tomer Raanan, senior maritime intelligence analyst at Lloyds List Intelligence told Argus . By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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