Japanese shipbuilders tap decarbonisation potential

  • Spanish Market: Emissions, Fertilizers, LPG, Natural gas, Oil products
  • 26/04/21

The global decarbonisation drive is prompting Japanese shipbuilders to speed up development of greener vessels in efforts to ride out a tough market and gain an edge over Chinese and South Korean rivals.

Japanese shipbuilder Tsuneishi Shipbuilding has agreed to a capital tie-up with rival shipbuilder Mitsui E&S Shipbuilding. Tsuneishi is expected to acquire a 49pc share in Mitsui E&S Shipbuilding by October after obtaining regulatory approval.

Tsuneishi said the capital tie-up is expected to enable it to jointly speed up development of next-generation ships using alternative fuels, as well as autonomous vessels. Tsuneishi recently developed an LNG-fuelled Kamsarmax bulk carrier.

The international shipping industry is working to reduce its greenhouse gas (GHG) emissions by at least 50pc by 2050 from 2008 levels, driving a fuel shift among global shipping firms and shipowners.

Japanese joint venture Nihon Shipyard last month completed development of an ammonia-fuelled very-large crude carrier, only a few months after the venture's January launch by shipbuilders Imabari Shipbuilding and Japan Marine United (JMU).

Japan aims to commercialise a zero-carbon emitting vessel by 2028 under a roadmap released last year to realise the global shipping industry's GHG reduction target. The transport ministry this month also began discussions to decarbonise its domestic shipping operations.

Japan's new GHG reduction pledge is also expected to offer new business opportunities for the shipbuilding industry. Japanese premier Yoshihide Suga last week announced a new 2030 commitment to reduce GHG emissions by 46pc from 2013 levels, compared with 26pc previously, prompting Japanese carbon dioxide (CO2) emitting-industries to further speed up decarbonisation efforts.

Shipbuilder JMU has agreed with Japanese wind power developer Venti Japan to discuss the possibility of developing a floating wind mill project offshore northwest Japan's Akita prefecture.

Shin Kurushima Sanoyas Shipbuilding has also obtained in-principle approval from Japanese classification society ClassNK for its newly-developed liquified CO2 transport vessel, aiming to tap growing demand for carbon capture and storage business opportunities. The company was launched earlier this year after Japanese shipbuilder Shin Kurushima Dockyard took over rival Sanoyas Shipbuilding.


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17/06/24

Porto Alegre, Brazil partially reopens post-flood

Porto Alegre, Brazil partially reopens post-flood

Sao Paulo, 17 June (Argus) — The Porto Alegre port, in Brazil's flood-hit southern Rio Grande do Sul state, partially resumed operations last week while other area ports continue to recover. Activities had been suspended at Porto Alegre since 2 May, following the unprecedented floods that hit the state in late April and May, but there was a partial reopening on 14 June. Porto Alegre is still carrying out cleaning and maintenance, and port authority Portos RS is still analyzing damage to infrastructure. The first operation will take place at the POA02 terminal, leased by logistic firm Serra Morena. The 60,456 dwt bulk carrier Nord Mississipi will be unloading inputs for fertilizer production. Porto Alegre is one of three ports in Rio Grande do Sul, along with Pelotas and Rio Grande. Pelotas was also hit by the floods but resumed operations on 21 May. The port of Rio Grande did not suspend operations but has had to reduce the draft of ships allowed in to port because of debris and sediment left by the flooding. The draft at the Bunge, Bianchini and Termasa/Tergrasa terminals was reduced to 12.8 meters (42ft) on 21 May and is now 11.9m. Rio Grande do Sul is once again on alert because of the forecast of new rains in the state over the next few days. By João Petrini Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Rains return to Brazil's Rio Grande do Sul state


17/06/24
17/06/24

Rains return to Brazil's Rio Grande do Sul state

Sao Paulo, 17 June (Argus) — Rainfall returned to Brazil's flood-hit Rio Grande do Sul state over the weekend and is likely to remain until Wednesday, according to meteorological firm Climatempo. Downpours started in late April brought havoc to the state, flooding rivers and lakes and hampering several logistics points. Several state and national highways are still damaged and the state's main airport is likely to remain closed until the end of the year. The weather had eased in the last few weeks, with lake and river levels dropping below flood levels since at least 9 June. But two new cold fronts brought rains to the state once again on 15 June, Climatempo said. Rains are likely to reach an accumulated 200-300mm (7.9-11.8in) from 15-19 June in the state's central-northern and northwestern regions, Climatempo said. Other areas will receive 80-150mm in the same span. Showers in the central-northern region of the state hit 50-60mm on 16 June alone, according to the US National Oceanic and Atmospheric Administration. The Cai and Jacui rivers have reached above-flood levels once again, according to the state's civil defense. The Taquari River's levels are "above caution quotas," reaching 17m (55.7ft). Levels need to be below 5m to be considered normal. Civil defense authorities have also issued a flood warning for those that live close to the Sinos River, asking them to evacuate risky areas. Rio Grande do Sul is one of Brazil's main agricultural states. The US Department of Agriculture has cut the state's 2023-24 soybean production estimate because of the floods. The extreme weather has left at least 176 dead and over 422,000 people displaced, according to the civil defense's latest report published on 14 June. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

UK launches anti-dumping investigation: Base Oils


17/06/24
17/06/24

UK launches anti-dumping investigation: Base Oils

London, 17 June (Argus) — The UK Trade Remedies Authority (TRA) is investigating alleged dumping of lubricants in the UK market at unfair prices. The TRA will investigate whether imports of engine oils and hydraulic fluids from the United Arab Emirates (UAE) and Lithuania are being dumped in the UK and whether they are causing injury to the UK's lubricant blending industry. The investigation was spurred by an anti-dumping application by UK lubricants manufacturer Aztec Oils. "For too long, UK lubricant manufacturers have faced unfair competition from dumped products sold at unsustainable prices, which has had a severe impact on our industry", Aztec managing director Mark Lord told Argus today. "By ensuring fair trading practices, we can safeguard jobs, maintain high standards of product quality, and secure the long-term prosperity of the UK lubricant industry", Lord added. If the TRA determines a trade remedy is necessary, an Economic Interest Test (EIT) will be conducted to assess whether the implementation of a trade remedy is in the UK's economic interest, TRA said. UK imports of engine oils and hydraulic fluids from the UAE and Lithuania have increased over the past two years. Imports in February totalled 2,219t — standing 2,157t higher than in February 2022, according to Global Trade Tracker. European buyers have recently looked more towards importing Group I base oils, despite traditionally being a net exporter , as a result of refinery maintenance and shutdowns , curbing available supply. More limited availability has pushed European fob Group I domestic and export spot prices up, incentivising a move towards more competitively priced material. The Argus- assessed Group I SN 150 fob domestic and export spot price currently stands at parity ($1,110/t) with prices rising by 13pc and 31pc, respectively, since the start of the year. By Christian Hotten Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Japex takes control of Norway-focused upstream venture


17/06/24
17/06/24

Japex takes control of Norway-focused upstream venture

Tokyo, 17 June (Argus) — Japanese upstream firm Japex has acquired a majority stake in Longboat Japex from London-listed independent Longboat Energy to take full control of the Norwegian oil and gas joint venture. Japex spent $2.5mn to buy the 50.1pc stake, which will completed during July-September this year, Japex said. It bought a 49.9pc stake in Longboat Japex from Longboat Energy in May last year, with the UK firm last year looking to raise extra funds through asset sales, farm-down deals or issuing new equity. By Reina Maeda Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Venezuela to require appointments at some gas stations


14/06/24
14/06/24

Venezuela to require appointments at some gas stations

Caracas, 14 June (Argus) — Venezuelan drivers will need to schedule appointments in order to purchase gasoline from retail outlets selling government subsidized fuel, oil minister Pedro Tellechea told Argus on Friday. The subsidized gasoline is still inexpensive, at 2¢/liter, and plentiful, Tellechea said, despite drivers often waiting in line for hours for the fuel. But under a plan to modernize the stations selling the subsidized gas with new pumps and flat screen monitors, an appointment system will soon be required for purchases. Venezuela raised gasoline prices to 50¢/liter in 2020, to what the government has called a "international price," but then set aside stations meant just for members of the ruling party and other groups, where they could buy gasoline for much less. Today about 60pc of the country's 1,800 retail gas stations sell at unsubsidized prices. Half of Venezuela's gas stations will be refurbished this year, with pumps that can fill up an SUV in 20 seconds, supply 700 vehicles a day, and accept all forms of payment, Tellechea told reporters at a model station in Altamira, east Caracas, on Friday. "There aren't in South America gas stations right now just like the ones you are seeing today," he said. "Drivers won't have to wait in line at subsidized stations, they will have their appointments programmed to the second." Tellechea said Venezuelans are now using 95,000 b/d of gasoline but he declined to say how much is being produced domestically. Tallecha said oil production was growing, reaching "above 950,000 b/d" on Friday, but that included about 40,000 b/d of condensates and natural gas liquids. By Carlos Camacho Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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