Zero-emission retail alliance announces tender for 600k TEUs transported via zero-emission vessels: An alliance of major retailers looking to advance the decarbonization of shipping launched a tender for 600k 20-foot containers (TEUs) to be transported on ocean vessels powered by zero-emission fuels over a span of three years, according to a statement. The zero-emissions maritime buyers alliance will negotiate a “green premium” for the aggregated demand of its members to account for the added cost of operating a vessel using zero-emission fuels. The bidder chosen will also be required to provide assurances and third-party verification of the emissions reduction ZEMBA members can claim. The alliance — launched by Aspen Institute, Amazon, Patagonia, and Tchibo — includes major players like Ikea, New Balance, Nike, and Philips.

EU-China trade war over electric vehicles? The European Commission has launched an anti-subsidy inquiry into Chinese electric vehicles (EVs), a move that could potentially increase tariffs on imported Chinese EVs, affecting major European automakers like Tesla, Bloomberg reports. The global market is flooded with cheaper EVs that are made possible because of government subsidies, European Commission President Ursula von der Leyen said in a speech. Currently, the standard tariff rate for cars in the EU is 10%, which could potentially rise to the 27.5% tariff imposed by the US within the coming months. EU companies have expressed worry that their bottom lines might get severely impacted if China decides to retaliate.

Estes Express places recor d bid for US trucking titan Yellow : Trucking giant Estes Express Lines is placing a USD 1.53 bn bid for the real-estate portfolio of bankrupt US trucking titan Yellow, exceeding its initial bid of USD 1.3 bn, the Wall Street Journal reports, citing a filing made by Yellow in the Bankruptcy Court in Delaware. Estes has now outbid Old Dominion Freight Line’s USD 1.5 bn offer. Estes is also offering a lower breakup fee alongside other financial terms to help boost Yellow’s liquidity and settle outstanding debts. Yellow would also have the option to sell terminals individually or in packages if it can get more funds for the properties. The auction date for the terminals is set to take place on 18 October, with the company auctioning off tens of thousands of trucks and trailers for an estimated USD 900 mn.

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