According to The Australian Financial Review, sales of new homes bounced back 15.2 per cent higher in May compared with the previous month, as buyer confidence and preference for detached homes fuelled stronger demand, even without the HomeBuilder stimulus.
Victoria posted a 45.3 per cent jump in new house sales, the sharpest increase across the five bigger states, the HIA New Home Sales report shows.
Sales climbed by 16 per cent in South Australia. They were up by 5.2 per cent in Queensland and by 0.6 per cent in NSW. However, they fell by 4.1 per cent in Western Australia.
According to The ENEOS website, ENEOS Corporation announces that it will participate in a large-scale solar power generation business in Queensland, Australia.
ENEOS acquired 100% of the shares of Edenvale Solar Park Pty Ltd, which will operate the plant, from DPI Solar 3 Pte Ltd through Sapphire Energy Pty Ltd, which is a joint venture with Sojitz Corporation. Construction began in June 2021.
This will be the first time ENEOS has developed a solar power generation business in Australia. The project has been under development since 2019 with DPI and Sojitz, a partner in the ongoing offshore wind power project in Taiwan. The module capacity of the newly constructed power plant will be 204 MW (ENEOS proportional capacity: 102 MW), the largest solar power plant for ENEOS.
70% of the power generated at the plant will be supplied to a local electricity retailer at a fixed price.
The site is located about 300 kilometers west of Brisbane, the state capital of Queensland. The climate of Queensland in general is said to be suitable for the solar power business due to its abundant solar radiation. The state government is targeting zero emission by 2050, and further expansion of renewable energy is expected in the state.
According to The Renewable Now, the industrial development zone of Aldoga in Central Queensland will become home to a 3-GW electrolyser for the production of renewable hydrogen.
The project was proposed by a joint venture of government-owned generator Stanwell and Japanese industrial giant Iwatani Corporation. The duo has signed an option agreement to secure 236 ha (583 acres) of land for the export-scale facility, set to export “millions of tonnes” of green hydrogen globally by the early 2030s.
According to the Queensland government, the project could generate AUD 4.2 billion (USD 3.25bn/EUR 2.67bn) in hydrogen exports and AUD 10 billion for the state economy. More than 5,000 jobs are expected to be opened locally.
According to The Nikkei Asia, one of Japan's biggest civil engineering groups has developed a navigation system for construction vehicles that does not rely on GPS or other satellite positioning data, allowing them to guide themselves in remote places.
Tokyo-based Taisei's technology, which uses laser sensors to make three-dimensional maps of a vehicle's surroundings, is thought to be the first of its kind developed in Japan. Its industry peers at home have made their own forays into autonomous-driving technology, but they rely on signals in the sky to guide their vehicles.
Taisei now looks to adapt the system to real-world projects in tunnels and other areas where GPS signals are difficult or impossible to reach, helping cope with a construction labor shortages by automating more machinery.
The 3D-map locates obstacles in the vehicle's way and allows it to chart detours around them. The technology was recently tried on a tracked dump truck, which drove 5 kph through a tunnel. Once the sensor-equipped vehicle travels through such a simple environment once with an operator on board, it is able to collect enough take to drive itself on later trips.
According to The Australian Financial Review, first Rio Tinto stole Brazilian miner Vale’s title as the world’s biggest exporter of iron ore, then BHP and Fortescue pinched Rio’s title as the lowest cost producer of the steelmaking ingredient.
Rio has traditionally been the biggest exporter of a premium type of iron ore called lump, which as the name suggests is sold in lumpier form than the “fines” products that dominate Australia’s iron ore export volumes.
But BHP has been closing the gap since 2017 and last month’s arrival of the South Flank mine could enable BHP to overtake Rio as the miner with the biggest proportion of lump in its exports and perhaps even the biggest volumes of lump overall.
According to The Nikkei Asia, the Japanese government will lead a public-private effort to develop technology recycling carbon dioxide into burnable fuel to reach net-zero greenhouse gas emissions by midcentury.
Working with 19 private-sector businesses, the Ministry of Economy, Trade and Industry will set up a council tasked with addressing the national goal as soon as this month. The body will form part of Japan's growth strategy to be completed later in June.
Members will share relevant technology for turning captured carbon dioxide into methane, a main component of heating gas. The council will also deliberate on rules governing carbon dioxide trading.
Participants of the carbon-recycling committee will include corporate heavyweights Tokyo Gas, Tokyo Electric Power Co. Holdings, Nippon Steel and JFE Steel. Trading conglomerate Mitsubishi Corp., auto parts supplier Denso, marine shipper Nippon Yusen and the state-backed Development Bank of Japan will partake as well.
According to The Australian Financial Review, the proportion of empty rental apartments in the Sydney CBD has dropped to pre-pandemic levels, while other capitals posted record low vacancies, as more landlords sell up to cut their losses while tenants head back into town to take advantage of cheaper rents, Domain data shows.
Vacancy rates in the Sydney CBD fell to 2.9 per cent in May, a level last seen before the pandemic hit in February last year. At its peak, vacancy rates hit 5.8 per cent.
In the Melbourne CBD, the proportion of vacant apartments dropped to 8.6 per cent during the month.
According to The Asahi Shimbun, Japan’s transport ministry plans to compel auto manufacturers to install fuel-efficiency recording devices on all their new models to more accurately determine their mileage ratings amid increased public scepticism.
The transport ministry plans to revise the related regulations as early as next week and apply them for new car models as early as October 2023, officials said.
It comes amid heated industry competition over producing better fuel-economy cars, and as manufacturers find themselves under pressure to shift gears toward a low-carbon economy.
It also follows concerns expressed over large gaps between the mileage ratings reported by manufacturers in car catalogues and on websites compared to what the numbers actually are once the rubber hits the road.
And as automobile makers ramped up their efforts in recent years to compete over fuel economy, the automotive industry became plagued by scandal over fudged numbers.
According to The Asahi Shimbun, the economy ministry will open a new trading market for renewable energy in November as part of the central government’s efforts to lower carbon emissions.
An official organization will certify that the electricity is generated by renewable energy sources, such as solar and wind power, and companies will be able to purchase the certificate through the new market.
The central government has pledged to achieve net zero emissions of greenhouse gases by 2050, and the Diet passed a revised law to promote global warming countermeasures that clearly sets out the government’s emissions target.
Currently, major electricity companies buy renewable energy from electric power generation businesses based on a feed-in tariff system. The cost is tucked into consumers’ electricity bills. Renewable energy is transmitted together with thermal power and nuclear power, meaning that consumers cannot know how the electricity they use was generated.
According to The Australian Financial Review, surging Chinese demand for thermal coal has coincided with a raft of mine disruptions to create a global shortage of the fossil fuel, giving Australian miners a surprise boom less than a year after they were mired in a severe slump.
Coal-fired power generation may be declining in developed nations such as Australia but it remains a growing industry in Asian nations like China, India and Vietnam and prices for quality NSW thermal coal have more than doubled in the past 10 months on the back of an economic rebound and Chinese market distortions.
Top quality NSW coal – which has energy content above 6000 kilocalories per kilogram – was fetching $US122 per tonne in recent days, the highest levels since July 2018.
Subscribe to our English Newsletter