Tag: Japan

Japan's recently-announced decision to withdraw from the International Whaling Commission (IWC) -which means to continue commercial whaling after more than 30 years-, has spurred different reactions across environmental organizations across the globe.

In November, South Korea’s Supreme Court ordered major Japanese manufacturer Mitsubishi Heavy Industries Ltd. to pay damages to two groups of South Koreans for wartime labor. On the other hand, Mitsubishi Heavy Industries on a press release stated that these rulings are deeply regrettable, as they violate the Agreement and are contrary to the view of the Japanese government and the final and binding judgements of the Supreme Court of Japan.

Japanese NYK announced a schedule update regarding its plans to form a joint holding company to integrate the management of the four NYK Group terminal operation companies in Japan, through a new joint holding company that will be established by NYK and Mitsubishi Logistics Corporation (MLC), as announced in August 2018. 

The European Union wants to take part in a complaint that Japan filed against the South Korean shipbuilding industry, according to the World Trading Organization (WTO). Namely, Japan has requested WTO dispute consultations with South Korea concerning alleged subsidies provided by the Korean government to its shipbuilding industry.

Japan's largest shipping line by sales, Nippon Yusen K.K., is moving towards building an innovative system by launching its own digital currency for seafarers. The shipper is looking for a patent to support its tech-innovation. Also, Nippon Yusen K.K. aspires to turn its digital currency to a service that could be used by other shippers too.

INPEX informed that it opened the onshore LNG processing facilities of Ichthys LNG. This project aims to meet increasing LNG demand in Japan and will contribute to the Australian way of life. About 70% of the LNG produced by Ichthys LNG will be supplied to Japanese customers.

Japan has requested WTO dispute consultations with South Korea concerning alleged subsidies provided by the Korean government to its shipbuilding industry. Japan claims that the challenged measures, which include funds, loans, guarantees, insurance and other financing, are inconsistent with WTO's SCM Agreement and the General Agreement on Tariffs and Trade (GATT) 1994.

Japan has launched a new whaling expedition in Antarctica, with the Japanese Government calling it scientific research. The fleet is now on its way to conduct the expedition in the Antarctic Ocean through March. The ships plan to catch 333 minke whales in the country's fourth such whaling expedition since their resumption in 2015, according to the government.

On the 13th East Asia Summit at Singapore in mid-November, the Quad countries, namely India, US, Japan and Australia, are expected to revitalise the conversation concerning the maritime security and disaster relief initiatives as well as economic development projects in the critical Indo-Pacific region.

A total of 1,966 vessels have deliveries dates scheduled for 2018, but only 1,100 have hit the water so far this year, meaning 44% of the '18 orderbook is outstanding, according to VesselsValue. Ship deliveries typically slow down towards the end of the year, as a vessel is considered a whole year younger if shipowners wait a few weeks, allowing the delivery to slip into the new year.