Japanese navy orders tankers for East China Sea patrols

Market: Oil products
21/05/20

Japan's defence ministry has placed an order for two oil tankers, its first such dedicated vessels to support patrolling navy vessels particularly in the East China Sea area.

Japanese shipbuilder Shin Kurushima Dockyard has received an order from the ministry to build two 4,900 deadweight tonne tankers for delivery targeted in April and July 2022. The two tankers are expected to be able to carry around 30,000 bl each of marine fuel and will be built at the firm's Hashihara shipyard in Ehime prefecture's Imabari.

The Japanese government had allocated ¥6bn ($55mn) for the planned construction of Japan's first dedicated navy tankers as part of the country's ¥5 trillion defense budget in the April 2019-March 2020 fiscal year. The navy is aiming to secure refuelling capability for its patrol vessels at frontline bases, particularly in Okinawa, without private-sector co-operation.

Tensions have re-escalated between Tokyo and Beijing over the growing presence of Chinese coast guard vessels in the disputed East China Sea area. The Japanese government earlier this month formally lodged a protest with the Chinese government, claiming a local fishing boat off the disputed Diaoyu, or Senkaku, islands was harassed by a Chinese coast guard vessel.

Tokyo was hoping the planned April visit by Chinese President Xi Jinping would help improve Sino-Japanese relations and revive an agreement on joint natural gas development in the East China Sea. But the visit was cancelled in March as both countries needed to prioritise the battle against the Covid-19 pandemic.

By Rieko Suda

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19/11/24

G20 mayors call for $800bn/yr to address climate change

Rio de Janeiro, 19 November (Argus) — Mayors from G20 countries are asking for at least $800bn/yr in investments by 2030 to tackle the effects of climate change. "We need better and faster access to international financing to ensure infrastructure that supports the socioeconomic security of our communities," Rio de Janeiro's mayor Eduardo Paes said. The joint statement from nearly 60 mayors and urban leaders was drafted during the Urban20, a G20 forum that includes leaders from major cities worldwide, and was delivered to Brazilian president Luiz Inacio Lula da Silva. The statement will also be delivered to other G20 members during the ongoing G20 summit in Rio de Janeiro. Climate change is one of the main topics being debated at the G20 summit. Brazil, which holds the G20 presidency this year, has set the energy transition as one of its goals for the year. The group reaffirmed its support for the Paris Agreement climate goals , saying it "fully subscribes" to the Cop 28 deal struck last year, which included language on transitioning away from fossil fuels. Urban investments such as low-emission transport, clean energy, and climate-resilient infrastructure can "significantly reduce emissions" and boost economic growth, according to the statement. The funding could unlock around $23.9 trillion in returns by 2050, it said. The $800bn/yr would cover around 20pc of urban climate finance needs and "serve as a catalyst for additional private sector funding," according to the Global Covenant of Mayors for Climate and Energy, a non-government organization for climate leadership that comprises over 13,000 cities worldwide. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Cop: Progress on actions to cut emissions uncertain

18/11/24

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18/11/24

Cop: Progress on actions to cut emissions uncertain

Baku, 18 November (Argus) — Progress on mitigation — actions to cut greenhouse gas emissions — is uncertain at the UN Cop 29 climate summit, as talks on a specific text related to the issue are at risk to be pushed back to 2025, losing any progress made in the past year. Some countries had proposed using the mitigation work programme — a work stream focused on reducing emissions — to progress the commitment made at Cop 28 in 2023 to "transition away" from fossil fuels. But talks have stalled and could end without a conclusion at the summit. Developed countries as well as developing nations including some small island states and countries in Latin America — such as Brazil, Colombia, Peru, Mexico — have expressed disappointment about how mitigation talks were going. New Zealand called on countries to follow up on last year's decision on mitigation at Cop 28 and Norway added that these issues deserved "more than silence on mitigation". Switzerland complained that mitigation was "held up by a select few", and said that the discussion was critical for increased commitments for next year's 2035 Nationally Determined Contributions (NDCs). NDCs are countries' climate plans that include emissions reduction targets. Cop parties are due to submit new versions by February 2025. The US also said that Cop 29 needed to "reaffirm the historical Global Stocktake decision" taken last year. And developed nations, led by the EU, called for the discussion to continue this week — the second week of Cop 29. But countries including Bolivia, Iran and Saudi Arabia, for the Arab Group, pushed back on this. The mitigation work programme is "not… open to reinterpretation", Saudi Arabia's representative said today. The country said earlier that it did not want new targets to be imposed, complaining about the "top-down approach" taken by developed countries. India reminded developed countries that they have yet to deliver on their new finance commitment — a crucial step for more ambitious NDCs in developing nations. But "Cop 29 cannot and will not be silent on mitigation", the summit's president, Mukhtar Babayev said today. "On mitigation we have been clear that we must make progress, "he said, adding that he has asked ministers from Norway and South Africa to consult on what an outcome on mitigation could look like. EU climate commissioner Wopke Hoekstra today said that it is "imperative that we send a strong signal this week for the next round of NDCs", he said. Points related to mitigation — including transitioning away from fossil fuels and phasing out inefficient fossil fuels subsidies — are currently mentioned in the draft text for the new finance goal, known as the new collective quantified goal (NCQG). It is the key issue at Cop 29. Developed countries agreed to deliver $100bn/yr in climate finance to developing nations over 2020-25, and Cop parties must decide on the next stage — including the amount. Developed countries are likely push for the fossil fuel language to stay in the finance goal text, especially if mitigation talks stall elsewhere. But countries such as Saudi Arabia have long opposed this, while developed countries have received some criticism for still not having given an amount for the new finance target. By Georgia Gratton, Prethika Nair and Caroline Varin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Cop: G20 momentum key to Cop climate finance outcome

18/11/24

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18/11/24

Cop: G20 momentum key to Cop climate finance outcome

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German diesel demand at year-high with winter shift

18/11/24

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18/11/24

German diesel demand at year-high with winter shift

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Trump taps oil services head as US energy secretary

17/11/24

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17/11/24

Trump taps oil services head as US energy secretary

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