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For the marine shipping industry to cut its carbon footprint in half by 2050, promising technology will need to become reality, and efficiency gains will need to increase as well.
Lucy Nicholson | Reuters

Amazon and IKEA are among the major companies pushing the ocean shipping industry to adopt zero-carbon fuel sources for vessels by 2040.

Marine shipping accounts for 1 billion tons of carbon emissions per year, according to the Clean Air Task Force, which worked with the Aspen Institute on a plan to accelerate a marketplace for zero-carbon shipping among the world’s largest cargo ship owners. The announcement on Tuesday included other consumer-facing companies such as Patagonia, Brooks Running, Inditex, Michelin, Unilever, Tchibo, and Frog Bikes. The announcement did not include cargo companies.

In 2018, the International Maritime Organization set an initial goal of cutting carbon emissions from international shipping by at least 50% by 2050 compared to 2008.

According to Clean Air Task Force research, for the IMO to reach its goals a large part of the international shipping fleet would need to transition to net-zero-carbon fuels. CATF has cited ammonia as a likely option for marine, though it noted that ammonia is approximately 3-7 times more expensive than conventional marine fuel.

Its research also suggests liquified natural gas as a transition — but only transitional fuel — and small-scale nuclear on-vessel as an underexplored option for the future. It estimated that ships could change over to LNG use for a 15% carbon reduction, but that figure would depend on methane leakage being reduced “well below current levels.”

“In order to combat the climate crisis, we must rapidly decarbonize marine shipping,” Jonathon Lewis, Director of Transportation Decarbonization at CATF said in a statement announcing the consortium of merchants.

CATF stated in its research that U.S. shipping is responsible for 80 million tonnes of CO2 emissions, a figure which is increasing, and for the U.S. shipping fleet to meet the IMO 2050 deadline, use of marine ammonia would need to reach as high as 47 million tonnes.

CATF proposes making marine ammonia from renewables (referred to as green ammonia), nuclear power, or carbon capture and storage operations in industries including fossil fuels (referred to as blue ammonia). But it noted that there is still a long way to go to “make marine ammonia a reality.”

Current ammonia production has a carbon footprint, mostly from within the fertilizer industry.

In March of this year, several of the major cargo companies including Maersk, Fleet Management Limited, Keppel Offshore & Marine, Sumitomo Corporation and Yara International began a study of a green ammonia supply chain at the Port of Singapore.

“Emitting zero CO2 when combusted, ammonia has long been considered as one of the most promising alternative marine fuels to reduce greenhouse gas (GHG) emissions within the shipping industry,” the group said in a statement.

“So far, it is unclear which measures could achieve the emissions reduction targeted by the IMO (much less, reductions that are consistent with the Paris Agreement), but it is unlikely that it will be through technology alone,” CATF wrote in its report on transportation decarbonization. And it said, “The shift to ammonia will need an intense globally coordinated effort.”

IMO itself implemented a mandatory data collection system for fuel oil consumption of ships in March 2018, and by 2025, set the goal of new ship builds being 30% more energy efficient than those built in 2014, according to its greenhouse gas reduction plan.

Over the last few years, Amazon has stepped up its commitment to reducing its carbon footprint while it also has taken over more control of its massive logistics operations. In 2019, Amazon first unveiled its pledge to meet the Paris climate agreement goals through the use of renewable energy and new transportation technology, such as electric delivery vehicles, 10 years ahead of the Paris timeline.

Among its most notable carbon-free transportation investments is electric vehicle maker Rivian, which has raised billions from venture investors including Amazon. The retail giant plans to buy 100,000 electric vehicles from Rivian and, by 2020, Amazon said it had already delivered over 20 million packages using electric vehicles. The retail giant rolled out its custom electric delivery vehicles earlier this year and says it will have 10,000 vehicles on the road by 2022.

Amazon’s own logistics footprint has grown in recent years to include direct competition with third-party shipping services. By 2028, Amazon is predicted to acquire 200 airplanes for its freight needs.

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Troubling times for Tesla, Nissan, and Dodge – plus some fun yellow stuff!

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Troubling times for Tesla, Nissan, and Dodge – plus some fun yellow stuff!

Tesla’s Q2 results are in, and they are way, way down from Q2 of 2024. At the same time, Nissan seems to be in serious trouble and the first-ever all-electric Dodge muscle car is getting recalled because its dumb engine noises are the wrong kind of dumb engine noises. All this and more on today’s deeply troubled episode of Quick Charge!

We’ve also got an awesome article from Micah Toll about a hitherto unexplored genre of electric lawn equipment, a $440 million mining equipment deal, and a list of incompetent, corrupt, and stupid politicians who voted away their constituents’ futures to line their pockets.

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.

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Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.


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OpenAI says Robinhood’s tokens aren’t equity in the company

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OpenAI says Robinhood's tokens aren't equity in the company

Jaque Silva | Nurphoto | Getty Images

OpenAI is distancing itself from Robinhood‘s latest crypto push after the trading platform began offering tokenized shares of OpenAI and SpaceX to users in Europe.

“These ‘OpenAI tokens’ are not OpenAI equity,” OpenAI wrote on X. “We did not partner with Robinhood, were not involved in this, and do not endorse it.”

The company said that “any transfer of OpenAI equity requires our approval — we did not approve any transfer,” and warned users to “please be careful.”

Robinhood announced the launch Monday from Cannes, France, as part of a broader product showcase focused on tokenized equities, staking, and a new blockchain infrastructure play. The company’s stock surged above $100 to hit a new all-time high following the news.

“These tokens give retail investors indirect exposure to private markets, opening up access, and are enabled by Robinhood’s ownership stake in a special purpose vehicle,” a Robinhood spokesperson said in response to the OpenAI post.

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Robinhood offered 5 euros worth of OpenAI and SpaceX tokens to eligible EU users who signed up to trade stock tokens by July 7. The assets are issued under the EU’s looser investor restrictions via Robinhood’s crypto platform.

“This is about expanding access,” said Johann Kerbrat, Robinhood’s SVP and GM of crypto. “The goal with tokenization is to let anyone participate in this economy.”

The episode highlights the dynamic between crypto platforms seeking to democratize access to financial products and the companies whose names and equity are being represented on-chain

U.S. users cannot access these tokens due to regulatory restrictions.

Robinhood hits record high as OpenAI, SpaceX go on-chain

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BYD launches new discounts, offering +50% off smart driving tech

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BYD launches new discounts, offering +50% off smart driving tech

Despite the warnings, BYD continues introducing new discounts. On Wednesday, BYD’s luxury off-road brand began offering over 50% Huawei’s smart driving tech.

BYD introduces new discounts on smart driving tech

After BYD cut prices again in May, the China Automobile Manufacturers Association (CAMA) warned that the ultra-low prices are “triggering a new round of price war panic.”

Although they didn’t single out BYD, it was pretty obvious. BYD slashed prices across 22 of its vehicles by up to 34%, triggering several automakers to follow suit in China.

BYD’s cheapest EV, the Seagull, typically starts at about $10,000 (66,800 yuan). After the price cuts, the Seagull is listed at under $8,000 (55,800 yuan).

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It doesn’t look like China’s EV leader plans to slow down anytime soon. Fang Cheng Bao, BYD’s luxury off-road brand, introduced new discounts on Huawei’s smart driving tech on Wednesday.

The limited-time offer cuts the price of Huawei’s Qiankun Intelligent Driving High-end Function Package to just 12,000 yuan ($1,700).

BYD-new-discounts
BYD Fang Cheng Bao 5 SUV testing (Source: Fang Cheng Bao)

Buyers who order the smart driving tech in July will save over 50% compared to its typical price of 32,000 yuan ($4,500).

Earlier this year, Fang Chang Bao launched the Tai 3, its most affordable vehicle, starting at 139,800 yuan ($19,300). The Tai 3 is about the size of the Tesla Model Y, but costs about half as much.

BYD-Tai-3-electric-SUV
BYD Fang Cheng Bao Tai 3 electric SUV (Source: Fang Cheng Bao)

The Tai 3 will spearhead a new sub-brand of electric SUVs following the more premium Bao 8 and Bao 5 hybrid SUVs.

BYD’s luxury off-road brand sold 18,903 vehicles last month, up 50% from May and 605% compared to last year. Fang Cheng Bao has now sold over 10,000 vehicles for three consecutive months.

The Chinese EV giant sold 382,585 vehicles in total in June, an increase of 12% from last year. In the first half of the year, BYD’s cumulative sales reached over 2.1 million, a YOY increase of 33%.

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