According to The Asahi Shimbun, a consortium of Japanese companies will set sail on domestically building an ammonia carrier ship that is fueled by ammonia, which emits no carbon dioxide (CO2) when burned.
The cleaner fuel source is part of an effort to decarbonize seafaring vessels, which are a major source of global CO2 emissions. The ship, scheduled for completion in 2026, is expected, following a demonstration voyage, to be the world’s first vessel of its kind and to be used in international shipping. The plan was jointly released Jan. 25 by four companies including shipping giant Nippon Yusen KK (NYK). Use of the ship, which co-fires ammonia with heavy fuel oil, can cut emissions of greenhouse gases, including CO2, by more than 80 percent as compared to when fuel oil alone is used. https://www.asahi.com/ajw/articles/15159500
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According to The Australian Financial Review, Melbourne’s apartment market could be starting to emerge from years of sluggish capital growth after values rebounded sharply in a number of inner suburbs over the past three months, data from CoreLogic shows.
Apartment prices in Parkville, Carlton, North Melbourne, Southbank, Docklands, East Melbourne and central Melbourne all accelerated and have reversed their declines. https://www.afr.com/property/residential/suburbs-where-apartment-values-are-gaining-the-most-momentum-20240313-p5fc0k
According to The Jiji News, a Japanese power generation company, Jera Co and engineering firm IHI Corp unveiled to the press a test facility at a thermal power plant in Hekinan, Aichi Prefecture, central Japan, for burning coal mixed with ammonia to reduce carbon dioxide emissions.
The test will run from March 26 to June 19, and based on its results, the commercial use of coal-ammonia fuel is planned to begin in the late 2020s at the earliest. https://sp.m.jiji.com/english/show/31798
According to The Jiji news, Nissan Motor Co. and Honda Motor Co. said the major Japanese automakers will cooperate with each other in wide-ranging fields associated with electric vehicles.
Exchanging a memorandum of understanding for comprehensive collaboration the same day, they will start considering how they can specifically work together in, among others, developing cutting-edge software platforms and core components for EVs. https://sp.m.jiji.com/english/show/31848#goog_rewarded
According to The Australian Financial Review, Fortescue Energy boss Mark Hutchinson says Australia must get power prices down to about $US30 ($45.36) a megawatt hour if it wants to be a hydrogen superpower, under a goal that would effectively require a halving of power prices across much of the eastern states.
Mr Hutchinson’s power price challenge came as he warned that Fortescue and Incitec Pivot would find it “tough” to proceed with a plan to retrofit Queensland’s Gibson Island fertiliser plant towards a future in hydrogen and ammonia unless governments helped mitigate the high cost of clean energy. https://www.afr.com/business-summit/fortescue-says-hydrogen-hopes-rest-on-a-halving-of-power-prices-20240311-p5fbjk
According to The PV magazine, New South Wales has committed to reform the planning approvals process for renewable energy developments amid criticism that the current process isn’t fit for purpose and is slowing the state’s transition from coal-dominated generation to a renewables-dominated grid.
New South Wales (NSW) Planning Minister Paul Scully said the government is aiming for almost 50 large-scale solar, wind, and battery storage projects to be approved in NSW this year. “We have got a further 29 projects in the planning stage with an additional 20 projects expected to be submitted to the department or the coming months,” he said. “Most of these are expected to be determined this year.” https://www.pv-magazine-australia.com/2024/03/08/nsw-commits-to-improve-approvals-process-for-renewables-projects/
According to The Australian Financial Review, Perth, Sydney and Adelaide are the most likely markets to outperform in the next 12 months with two out of five property valuers predicting house prices in those cities to increase by up to 10 per cent, a new poll shows.
More than three out of five valuers surveyed were also expecting house values to lift nationwide, and two fifths were forecasting as much as 5 per cent increase, CBRE’s inaugural Quarterly Residential Valuations Property Market survey finds. Valuers were also relatively bullish on the apartment sector with 44 per cent predicting prices to increase over the next 12 months. Apartments in Brisbane, the Gold Coast, Sunshine Coast and Sydney were likely to post the strongest price growth, with more than one out of seven valuers anticipating between a 5 per cent and 10 per cent rise. https://www.afr.com/property/residential/sydney-perth-and-adelaide-housing-markets-tipped-to-outperform-20240306-p5fa7e
According to The Asahi Shimbun, Osaka Gas announced its medium-term management plan for the three-year period beginning in fiscal 2024. At the same time, the company also revealed its goal of increasing ordinary income from the current level of around 150 billion yen to 200 billion yen in FY30. In addition to expanding its domestic thermal power generation and liquefied natural gas (LNG) wholesale business, the company plans to focus on its overseas business.
Energy companies are under pressure to shift away from fossil fuels amid the global trend toward decarbonization. However, Masataka Fujiwara, president of Osaka Gas, explained at a press conference, "For the next 20 years or so, thermal power generation using LNG will be important. While focusing on sales of electricity and LNG, the company will further prepare concrete measures for the future of energy during the three years of the mid-term business plan. https://digital.asahi.com/articles/ASS376DW2S37ULFA01M.html
According to The Jiji news, Uber Eats Japan LLC said that it will launch a food delivery service using an autonomous robot in Tokyo's Nihonbashi district, in an effort to address a shortage of delivery personnel.
Japan is the second country to see an Uber Eats robot delivery service, after the United States. https://sp.m.jiji.com/english/show/31644#goog_rewarded
According to The Australian Financial Review, J-Power, one of Japan’s largest energy utilities, has lobbed a $375 million bid to buy Queensland renewables developer Genex Power, 14 months after Scott Farquhar’s Skip Capital and Stonepeak Partners walked away from their own takeover proposal.
Shares in Genex, Australia’s only listed pure-play renewables developer, surged as much as 32 per cent on news of the move, the latest in a string of deals between major Japanese groups and local energy companies. While agreements have historically focused primarily on Australia’s natural gas and coal sectors, clean energy has shot up the investment agenda. J-Power already owns 7.72 per cent of Genex and is a lender to the company, whose biggest project is the $777 million Kidston pumped hydro venture in Queensland. It is also Genex’s 50 per cent partner in the Kidston Stage 3 wind and Bulli Creek solar and battery projects in northern Queensland. https://www.afr.com/policy/energy-and-climate/japanese-utilities-giant-lobs-genex-takeover-bid-with-50pc-premium-20240304-p5f9ho |
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