05:18:09 EDT Tue 01 Jul 2025
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Amazon.com CDRs (CAD Hedged)
Symbol AMZN
Shares Issued 25,050,000
Close 2024-11-13 C$ 25.52
Market Cap C$ 639,276,000
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Globe/wire say Amazon, Ikea aim for e-fuel shipping

2024-11-14 08:23 ET - In the News

The Globe and Mail reports in its Thursday edition that Amazon and Ikea, in alliance with three dozen other companies that depend on ocean freight, will invite shipping firms for the first time to bid on a contract in January to move their cargo on vessels powered by near-zero emissions e-fuels such as e-methanol. A Reuters dispatch to The Globe says the group known as the Zero Emissions Maritime Buyers Alliance wants to use the combined clout of its members, who have their own climate goals to meet, to create demand for e-fuels made with renewable electricity and carbon dioxide. Those fuels are in short supply. The alliance wants to accelerate the ocean shipping industry's move toward net-zero greenhouse gas emissions by 2050, even as U.S. president-elect Donald Trump is expected to pull out of international commitments to combat global warming. The world's fleet moves more than 80 per cent of global trade and contributes about 3 per cent of the world's GHG emissions. E-fuels are vital to fully decarbonizing ocean shipping because they have long-term potential to compete against fossil fuels on cost and supply, the alliance said. Carriers such as Maersk are reworking to secure supplies of e-methanol fuel.

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