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Industry Ministry News

28 Dec 2023

China Aims to Build More than Half the World's Cleaner-fuel Ships by 2025

© Igor Groshev / Adobe Stock

China has set itself the goal of producing more than half of the world's ships powered by cleaner fuels by 2025, in guidelines published by the industry ministry on Thursday.It did not give any estimates of the number of ships involved.

13 Dec 2023

Three Winners for Japan's 2nd Offshore Wind Power Tender

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Japan's industry and land ministries on Wednesday picked three consortia, including one featuring Germany's RWE and its partners, to operate offshore wind farms in the second round of a public auction. They said they would award a fourth wind farm that was part of the tender at a later date.The results of the second major round under a new law to promote wind power were closely watched by energy companies at home and abroad, after the first round was dominated by Mitsubishi Corp.Japan's…

08 Nov 2023

Japan Says to Ensure U.S. Sanctions on Russia LNG Project Won't Harm Supplies

Arctic LNG 2 Illustration - Credit: Saipem (File image)

Japan will make sure its energy supplies are not affected by sanctions the United States recently imposed on the Arctic LNG 2 project in Russia in which it has a stake, Industry Minister Yasutoshi Nishimura said on Tuesday.Japan, the world's second-largest liquefied natural gas (LNG) buyer, relies on LNG as a transition fuel before it reaches carbon neutrality in 2050, and has supply contracts and stakes in projects globally to guarantee imports.The Arctic LNG 2 project is to be launched next month…

29 Dec 2022

Ship Insurers to Cancel War Cover for Russia, Ukraine

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Ship insurers said they are cancelling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses.Reinsurers, who insure the insurers, typically renew their 12-month contracts with insurance clients on Jan. 1, giving them the first opportunity to scale back exposure since the war in Ukraine started, after being hit this year by losses related to the conflict and from Hurricane Ian in Florida.P&I (protection and indemnity) clubs American…

29 Dec 2022

Japan Insurers to Continue Offering War Coverage for LNG Shippers in Russian Water

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Japanese insurers are expected to continue providing marine war insurance which covers the sinking and requisition of ships due to war in Russian waters after Jan. 1, the Nikkei daily said on Thursday.Japan's Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance and Mitsui Sumitomo Insurance told shipowners last Friday that from Jan. 1 they would stop offering insurance coverage for ship damage caused by war in Russian waters, because reinsurers were withdrawing coverage.

29 Dec 2022

How Will Japan Resolve Shipping Insurance for Russian LNG imports?

Credit: Evgeny
/AdobeStock

Japan, the world's top liquefied natural gas (LNG) importer, is facing its latest challenge in securing vital gas supplies from Russia after Western reinsurers said they would halt marine war insurance for ships travelling in Russian waters from Jan. 1.Having joined other G7 countries in imposing sweeping sanctions on Moscow for the invasion of Ukraine, Japan has been reducing its reliance on Russian oil and coal, but it continues to buy Russian LNG amid elevated prices in a tight…

09 Feb 2022

Japan to Divert LNG to Europe Amid Russia-Ukraine Tensions

Japan will divert some liquefied natural gas (LNG) cargoes to Europe after requests from the United States and the European Union, the industry minister said on Wednesday, a step that aligns the country with the West as tensions flare with Russia.Concern has mounted over the possible disruption of supplies from Russia, Europe's biggest gas provider, following the buildup of Russian troops near Ukraine and heightened tensions between Moscow and the West.The extra shipments are expected to arrive next month, minister Koichi Hagiuda told reporters."We have decided to respond to requests from the United States and EU for sending LNG to Europe, where gas supply is tight," Hagiuda said after separately meeting with the U.S.

13 Jan 2022

EU Blocks Korean Shipbuilding Merger

(Photo: DSME)

Hyundai Heavy Industries' proposed takeover of rival Daewoo Shipbuilding & Marine Engineering Co Ltd to create the world's biggest shipbuilder was hit with an EU veto on Thursday on concerns that the deal would hurt competition.Hyundai, one of the largest shipbuilders in the world, announced the deal in 2019 in part to tackle overcapacity in the sector.The shipyard, which sought EU antitrust approval for the takeover in November 2019, said it may challenge the EU prohibition and…

03 Jan 2022

Indonesian Coal Export Ban Rattles a Sector

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The world's leading exporter of thermal coal on Saturday banned the shipments because of concerns it could not meet its own power demand, prompting President Joko Widodo on Monday to threaten to revoke business permits for any miners who failed to meet domestic market requirements.In turn, Indonesian coal miners want a quick resolution as fuel prices rise and and potential disruptions to the energy supplies of some of the world's biggest economies loom.The wider risk is of a knock-on impact on economic linchpins China…

02 Nov 2021

Bangladesh's Hazardous Shipyards Launch Race for Cleaner, Safer Future

Illustration - Credit: saintmichel85/AdobeStock

When Samrat Hossain first started cutting up old ships weighing thousands of tonnes in a southeast Bangladesh shipbreaking yard a decade ago, all he would wear was a cap or a helmet.But these days, the 27-year-old spends nearly an hour each day before work putting on his protective gear, which includes special masks, gloves, boots, and a suit."A lot has changed in the last 10 years. Before, PPE (Personal Protective Equipment) was not a factor. But today we are not allowed to work without it…

27 Jan 2021

Italy, France Give Up On Fincantieri-Chantiers Deal

(Photo: Fincantieri)

Rome and Paris agreed on Wednesday that a proposed combination of Italian shipbuilder Fincantieri and French rival Chantiers de l'Atlantique no longer made sense in the current economic environment.State-owned Fincantieri's bid to take over its French peer, also owned by the state, collapsed three years after it was announced, thwarted by competition issues and the COVID-19 crisis.The agreement is due to expire on Jan.

31 Jan 2020

Japan: Ocean Release for Fukushima Water

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A panel of experts advising Japan's government on a disposal method for radioactive water from the destroyed Fukushima nuclear plant on Friday recommended releasing it into the ocean, a move likely to alarm neighboring countries.The panel under the industry ministry came to the conclusion after narrowing the choice to either releasing the contaminated water into the Pacific Ocean or letting it evaporate - and opted for the former. Based on past practice it is likely the government…

17 Apr 2016

Italians Go to polls for Drilling Referendum

Italy went to the polls on Sunday for a referendum on off-shore oil and gas drilling rights, a complex issue that the government hopes voters will shun. For the ballot to be valid, more than 50 percent of the Italian electorate must vote and Prime Minister Matteo Renzi has urged people to stay away, saying that the referendum is unnecessary and might end up hurting the economy. It would be a blow to Renzi if substantial numbers did turn out, suggesting voters were ready to snub him just weeks before major local elections. But opinion polls have indicated that a quorum will not be reached. The referendum focuses on whether Italy should stop renewing offshore drilling licenses within 12 miles (20 km) of the coast.

20 May 2015

Italy Gives Final Go Ahead for TAP Gas Pipeline Build

Italy signed a decree on Wednesday authorising the construction of the Trans Adriatic Pipeline (TAP) that will carry gas from Azerbaijan to Europe, the Industry Ministry said.   Work on the pipeline will start before May 16 next year and it will be completed and ready for use before the end of 2020, the ministry said in a statement. The decree is the final step in a complex permitting process.   Rome has said the TAP pipeline is strategic infrastructure for Italy which is seeking to diversify its energy sources.     (Reporting by Stephen Jewkes; editing by Steve Scherer)

06 Jun 2014

Italy Warns Oil Traders off Kurdish Tanker

Italy sees possible Iraqi legal action over Kurdish oil; Kurds, Baghdad battle over sales from autonomous region. Tanker of Kurdish oil currently floating off Morocco. Italy has warned oil traders they face potential legal action from Baghdad if they buy disputed exports of crude from Iraqi Kurdistan, in the latest setback for the autonomous region in its struggle with the central government over oil sales. The Kurdish Regional Government (KRG) loaded its first pipeline shipment of Kurdish oil onto the United Leadership tanker at the Turkish port of Ceyhan two weeks ago, in a move it said was designed to show Baghdad it controls its own oil sales.

20 Sep 2010

Indonesia Promotes Ship Component Industry Abroad

According to a September 18 report from The Jakarta Post, the Industry Ministry plans to reinvigorate Indonesia’s ship component industry with a roadshow that is scheduled to meet potential investors from several East Asian countries, including Japan, China and South Korea. The ministry’s director general for transportation, telecommunications and IT industries, Budi Darmadi, said that a strong domestic ship component industry was needed to improve the nation’s shipbuilding industry. (Source: The Jakarta Post)

22 Dec 2000

Deepwater Offshore Cuba Peaks Oil Major's Interest

Four European oil firms are reportedly negotiating with Cuba to carry out deep-water exploration of the island's Gulf of Mexico waters, and at least two are likely to sign contracts early next year, Cuban oil officials were reported as saying. In a separate development, Brazil's state oil firm Petrobras had also started drilling an exploration well in north-central Cuban coastal waters whose results will be announced in January or February. The exploration efforts formed part of a strategic program by Cuba's communist government to boost domestic oil and gas production and so reduce costly oil imports, whose high prices this year have badly strained Havana's stretched finances. Dr.

26 Jan 2006

Thailand’s Shipbuilding Plan to be Discussed

Thailand’s shipping agencies and the private sector plan to meet by the middle of next month to work out an action plan to develop and promote shipbuilding in Thailand. The Bangkok Post reported that the Industry Ministry had drawn up an action plan, but proposals needed to be substantiated. The National Economic and Social Development Board (NESDB) proposes that the Board of Investment (BoI) promote shipbuilding in Thailand, namely ships between 5,000 tons and 100,000 tons, and grants the industry special status, so it can enjoy the greatest promotional privileges. These include tax breaks of up to eight years and exemption from import duty on machinery.

31 Jan 2000

Norway To Rule On Star Bid

Norway's Industry Ministry is likely to make a ruling before Feb. 4 regarding a bid by NCL's board to deny votes to Malaysia's Star Cruises. NCL, the target of a bid war between Star and U.S. giant Carnival Corp., is accusing Star of skirting the law by failing to update Norwegian authorities of its NCL share buying. Star owns 47 percent of NCL. Under Norwegian law, any firm seeking to acquire parts of a business has to notify the ministry when its stake exceeds one-third, a half and two-thirds of the stock. NCL says Star passed one-third of the stock in the ministry will determine whether NCL's travel operations in Norway were directly related to its shipping business. If so, NCL would be exempted from the law and lose its case.

01 Feb 2000

Norway Rules Star Share Buying Legal

Norway's Industry Ministry gave Malaysia's Star Cruises a boost in a takeover battle for NCL Holding by saying Star's share buying did not violate Norwegian law. The ruling means that Star, which owns 47 percent of NCL, can vote at a key shareholders' meeting on Feb. 4. Ministry officials said NCL is a shipping company and therefor is exempt from a requirement obliging any buyer of a Norwegian business to notify the ministry when its holdings exceeded a third of the shares. NCL, the target of bids by Star and U.S. giant Carnival Corp., accused Star of skirting the law by failing to update Norwegian authorities when it reached one-third of the stock in December.

28 Jan 2000

NCL Aims To Block Star Bid

NCL Holding plans to block a takeover bid from Star Cruises, accusing it of skirting the law and buying NCL shares. Officials of NCL, which is the target of a bid war between Star and Carnival Corp., said Star could not wield its 47 percent stake in NCL at a key shareholders' meeting because the company failed to update Norwegian authorities about its share buying. Under Norwegian law, any firm seeking to acquire parts of a Norwegian business has to notify the Industry Ministry when its stake exceeds one-third, a half and two-thirds of the stock. NCL said Star passed one-third of the stock in December without informing the ministry. Star argues that NCL is a shipping company and so is exempted from the notification requirement.

29 Oct 1999

Spain Contests Decision On Shipyard Aid

The Spanish government said last week that it would appeal a European Commission decision ordering Spain's state-owned shipyards to repay with interest $118 million in state aid. "The industry ministry and the government is absolutely convinced that this aid for shipbuilders is correct," Industry Secretary Jose Manuel Serra said. He said the payments, made in 1998, were within a $370.6 million aid plan authorized by Brussels. Shipyard workers staged a one-day strike at yards across Spain in protest at Tuesday's ruling by the commission. Unions called for a change in European legislation on the industry. Serra said conditions in which European shipyards compete with companies from other regions.

17 Mar 2000

South Korea To Resume Shipbuilding Talks With EU

South Korea's Commerce Ministry plans to resume talks in Brussels this week with the European Union to settle ongoing conflicts in the shipbuilding industry, ministry officials said. "We will send higher-level officials to Brussels for talks to discuss pending matters concerning the shipbuilding industry," a ministry official said. A delegation led by South Korean Deputy Commerce Minister Lee Hee-beom was scheduled to meet with EU counterpart, Deputy Director General Peter Carl, on March 14, the official said. Both parties would discuss various issues, including the EU's accusation that the South Korean government subsidizes the Korean shipbuilding industry and the transparency of Korean shipbuilders' bookkeeping, the official said.