The US is set to ban TikTok 📵 + Wind-powered cargo ships 💨

SHIPPING NEWS

Cargo Ship Embraces Wind Power

In a pioneering move, the introduction of large, rigid sails on the Pyxis Ocean, a cargo ship, has shown promising reductions in fuel consumption and CO2 emissions, according to shipping firm data. These British-designed WindWings were tested over six months, demonstrating the significant potential of wind power in reducing the shipping industry's carbon footprint. Despite these promising results, the adoption of such technology across the global shipping fleet remains minimal.

The WindWings, crafted from the same material as wind turbine blades, are a modern take on traditional sails. They can be folded while in port and then extended to a height of 123 feet when at sea. The retrofitting took place in Shanghai, and the ship navigated through multiple oceans, achieving a daily fuel saving of three tonnes. This equates to a daily reduction of 11.2 tonnes in CO2 emissions, highlighting a significant environmental impact.

BAR Technologies, the UK-based designer of the sails, plans to enhance future designs by adding an additional sail to further increase savings. The shipping industry, responsible for 2.1% of global CO2 emissions, is under pressure to reduce its carbon footprint. Retrofitting existing vessels, as seen with the Pyxis Ocean, offers a feasible pathway to decarbonization, contrasting with the longer timelines required for constructing new ships. Experts and industry leaders are now calling for broader adoption of wind-assist technologies to address climate change challenges urgently. Watch clip

 TOGETHER WITH ADQUICK

Modernize your marketing with AdQuick

Run IRL ads as easily as PPC

AdQuick unlocks the benefits of Out Of Home (OOH) advertising in a way no one else has. Approaching the problem with eyes to performance, created for marketers with the engineering excellence you’ve come to expect for the internet.

Marketers agree OOH is one of the best ways for building brand awareness, reaching new customers, and reinforcing your brand message. It’s just been difficult to scale. But with AdQuick, you can easily plan, deploy and measure campaigns just as easily as digital ads, making them a no-brainer to add to your team’s toolbox.

Learn more now.

VIDEO OF THE WEEK

Japanese Businesses Making The Most Expensive Products In The World

Japanese craftsmanship from foot-stomped calligraphy ink in Nara valued at over $1,000 to Matsusaka wagyu fetching around $400,000 per cow to priceless bonsai trees. Behind these costly goods lies a dedication to perfection, involving immense skill, resources, and time.

GLOBAL TRADE SNIPPETS

US Billionaire Says Bitcoin’s Rise Will Collapse US Dollar. American hedge fund manager Bill Ackman acknowledged that the US dollar could be on the path of a decline, and Bitcoin or the new BRICS currency could pin the last nail in its coffin.

Four European countries have signed a free-trade agreement with India and committed to invest $100 billion. Iceland, Liechtenstein, Norway and Switzerland confirmed the deal with India that is set to create 1 million direct jobs in India over the next 15 years.

El Salvador Axes Income Tax for Investments From Abroad. Congress has reformed the income tax law, for international investments and money transfers, dropping the rate from 30% to 0%.

TRADE NEWS

U.S. Ultimatum: Sell TikTok or Face Ban

The U.S. House of Representatives passed a bipartisan bill with a vote of 352-65, demanding ByteDance to divest TikTok or face a ban in the U.S. The bill's future in the Senate remains uncertain, despite support from key senators. This legislation, spearheaded by Rep. Mike Gallagher and backed by intelligence assessments, aims to address national security concerns without outright banning TikTok, proposing instead a "forced separation" from ByteDance. Critics argue the bill infringes on free speech and could harm businesses and content creators who rely on the platform.

The bill, known as the "Protecting Americans from Foreign Adversary Controlled Applications Act," would prohibit ByteDance-controlled apps unless divested, under national security grounds. It also outlines a process for the president to deal with future foreign-owned app threats and allows users to download their data for platform migration. Opponents, including the ACLU, denounce the bill as censorship, while TikTok argues it violates Americans' First Amendment rights. TikTok's countermeasures include a data protection initiative with Oracle, dubbed "Project Texas," though skepticism remains regarding its effectiveness.

Notably, the bill reflects broader concerns over social media's role in national security, amidst allegations of data misuse and propaganda by foreign adversaries. FBI Director Christopher Wray has voiced apprehensions about TikTok's potential for espionage. The controversy extends into presidential campaign politics, with differing opinions among prominent figures, including former President Trump and President Biden. The debate highlights the complex interplay between technology, security, and freedom of expression in the digital age. Watch clip

QUICK CLIPS ON “X”

SHIPWRECK OF THE WEEK ⚓️☠️ 

RECOMMENDED READS

Get seen by 150k+ Global Trade Professionals

Get your brand in front of importers, exporters and logistics professionals who are always looking for the latest products and services. Click here for info & media kit.

FEEDBACK

LETS MEME

Was this email forwarded to you? Subscribe here for update