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Hyster reveals Li-ion trucks with electric drivetrain

Hyster has announced its 10-18 tonne lift capacity trucks are now available with an… Read more »

The post Hyster reveals Li-ion trucks with electric drivetrain appeared first on Logistics Business® Magazine.

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Logistics BusinessHyster reveals Li-ion trucks with electric drivetrain

Hyster has announced its 10-18 tonne lift capacity trucks are now available with an electric drivetrain, helping businesses achieve zero-emissions objectives by making the switch to electric forklifts.

The new Hyster J10-18XD lift trucks lift up to 18-tonnes and feature lithium-ion battery packs providing full power and acceleration, comparable to a diesel forklift but with no emissions.

“This is a breakthrough for businesses in heavy industry that are keen to achieve green objectives in factories, warehouses and yards,” says Jan-Willem van den Brand, Director Global Market Development, Big Trucks, for Hyster. “With support from Hyster, the transition to clean electric power is now simpler than ever and comes with no compromise on performance or efficiency.

“Operations undertaking tough tasks in demanding industries, such as those typically found in timber, metals, and construction applications, can rely on these new electric forklifts inside and outside, for ICE-like performance across one, two or three shifts, alongside the convenience of opportunity charging,” van den Brand continues.

The new Big Trucks are also intelligently designed to prevent overheating, uniquely combining liquid cooled motors and inverters with 350V lithium-ion batteries. The high voltage and low current system featured in the new trucks not only greatly reduces heat development, but also incorporates specially designed water-cooled motors and drive controllers to further prevent heat build-up. Battery monitoring systems also help to control under and overcharging.

Whether the trucks are used to unload steel bars from a train, feed concrete moulds into a manufacturing process, or transport wood-based panels through a manufacturing site, the new Hyster electric trucks may provide even better productivity than a diesel alternative. The quiet and comfortable cabin also improves the driver experience, alongside outstanding visibility, ergonomics, and productivity-enhancing features.

“Regardless of if the truck is used for periodic or continuous operation, you can drive these trucks like a diesel,” says van den Brand, explaining that as with an IC-powered Hyster Big Truck, the new electric models provide exceptional traction power, acceleration and drawbar pull.

However, matched with the right application and operating intensity, the Hyster J10-18XD lift trucks may also help operations to reduce the Total Cost of Ownership.

The integrated lithium-ion batteries produce higher performance than lead-acid counterparts and have a longer life cycle, helping to keep costs down. Plus, each truck can be equipped with modular battery packs to store the necessary power required to meet the operational needs. The system is optimally designed for high power opportunity charging, removing the need to swap batteries, so uptime is maximised, and shift changes and breaks become productive. The new truck option requires just 11 minutes of charge for up to one hour of work.

“With less time needed for charging, a wide range of applications can benefit from greater truck availability,” says van den Brand. “Operations with two or three shift operations can easily top up the charge, preventing the need for battery exchange and a separate charging room.  As the battery and electric motor are maintenance free this also helps reduce costs, further contributing to a low Total Cost of Ownership.”

To support businesses in their journey from a diesel to an electric fleet, Hyster works closely with operations to plan the transition, providing options that enable the correct electric lift truck to be configured for differing application needs. The experts at Hyster also advise on the necessary changes to electrical and infrastructure needs, plus a suitable charging strategy and process.  Further support is given through training and servicing throughout the lifetime of the lift truck.

“Green objectives are also important to many businesses, some of which are exploring the implementation of solar panels and other onsite methods of generating electricity. In many countries there are also tax incentives and grants that support companies looking to invest in zero-emissions equipment,” says van den Brand. “These types of applications will find these new trucks an ideal choice when compared to diesel, both environmentally and economically.”

Those switching to lithium-ion forklifts receive the support of their local Hyster dealers. Across the world, they work with each customer to determine the exact requirements for the specific application and configure the battery system to suit the operation.

Source: https://www.logisticsbusiness.com/materials-handling-warehousing/forklift-technology/hyster-reveals-li-ion-trucks-electric-drivetrain/

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Bitcoin sheds $2.5K amid warnings of a repeat BTC price dip

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Bitcoin (BTC) fell precipitously on June 25 after a rejection above $35,000 sparked a rout toward familiar support.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Bitcoin heads back towards $30,000

Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it shed over $2,500 during trading on Friday.

The pair had hit local highs of $35,400 overnight before abruptly reversing trajectory to fall below $33,000.

For popular trader Crypto Ed, the situation was similar to events last month after BTC/USD first bounced at $30,000 support.

“Current, sluggish PA reminds me of a similar situation a few weeks ago….. I thought we did a 1-5 and started next cycle but after 1 more top, BTC made a deeper correction,” he commented on an accompanying chart.

“Thinking we might get the same here.”

BTC/USD scenario. Source: Crypto Ed/ Twitter

That would place Bitcoin in a position to rechallenge the $20,000 corridor which it briefly broke into several days ago.

As Cointelegraph reported, the mood among many traders remains skewed to the cautious side after BTC/USD failed to reach a $37,000 target before its latest rejection. The possibility of a new lower low is thus far from off the cards.

BTC buy interest remains

Signs of underlying confidence nonetheless remain.

Related: Bulls on parade: Galaxy Digital and Alameda pundits tip market recovery

On Friday, it was again El Salvador and its Bitcoin law in the spotlight after president Nayib Bukele announced that every eligible citizen would receive $30 free in BTC for downloading its wallet.

Institutional bullishness meanwhile came in the form of the Purpose Bitcoin ETF, which continued to add to its assets under management throughout the price dip.

Meanwhile, altcoins were flat, with no single asset managing to break out of established trading zones.

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Source: https://cointelegraph.com/news/bitcoin-sheds-2-5k-amid-warnings-of-a-repeat-btc-price-dip

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Tanzania central bank may rescind crypto ban after presidential endorsement

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The Bank of Tanzania is reportedly working to overturn its ban on crypto amid favorable cryptocurrency comments made by the country’s president.

According to Reuters, Tanzania’s central bank has begun working on directives from the country’s federal government that could see a reversal of its November 2019 crypto ban.

As previously reported by Cointelegraph, president Hassan urged the central bank to begin exploring Bitcoin (BTC) and digital assets earlier this month.

At the time, Hassan enjoined the Bank of Tanzania to keep up with the times, given the growing popularity of cryptocurrencies.

These favorable comments on crypto came on the heels of El Salvador’s Bitcoin Law and a wave of positive BTC sentiment across several nations in Latin America.

However, in Africa, crypto-related regulations beyond central bank bans are yet to emerge. Back in February, Nigeria’s central bank also prohibited financial institutions in the country from servicing crypto exchanges.

For Abdulmajid Nsekela, chairman of the Tanzania Bankers Association, the move could help to diversify financial transactions in the country that are currently dominated by cash payments.

Related: Tanzanian president urges central bank to prepare for crypto

Nsekela also echoed the president’s comments about the Bank of Tanzania needing to become better acquainted with the crypto market, adding, “The most challenging element for regulators is to be caught by surprise by innovations.”

According to data from Useful Tulips — a platform that tracks peer-to-peer BTC trading across the globe — Tanzania ranks seventh in peer-to-peer trading volume in Sub-Saharan Africa. Nigeria still accounts for more than half of the region’s Bitcoin trading activity.

While clear-cut crypto regulations are yet to emerge on the continent, some nations are working toward floating central bank digital currencies. Indeed, the central banks of both Nigeria and Ghana have issued announcements to that effect in June.

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Source: https://cointelegraph.com/news/tanzania-central-bank-may-rescind-crypto-ban-after-presidential-endorsement

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Palestine monetary authority mulls digital currency as ‘political signal‘

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Palestinian Monetary Authority (PMA) Governor Feras Milhem has revealed that the proto-central bank — which does not issue a domestic currency and operates under highly restrictive political and economic conditions — is exploring the idea of issuing a Palestinian digital currency.

Raja Khalidi, director of the Palestine Economic Policy Research Institute, told Bloomberg that “the macroeconomic conditions don’t exist to allow a Palestinian currency — digital or otherwise — to exist as a means of exchange.”

Khalidi argued, however, that the PMA’s issuance of some form of digital currency may “send a political signal to show apparent appearance of monetary autonomy from Israel.” Khalidi’s view has been echoed by Barry Topf, former senior adviser to the Bank of Israel’s governor, who has claimed that any Palestinian digital currency is “not going to replace the shekel or the dinar or the dollar. It’s certainly not going to be a store of value or a unit of accounting.”

The occupied territories of the West Bank and Gaza may not seem to be the most propitious place to launch a centrally issued digital currency. The former has been subject to a 14-years blockade that has brought its economy to near collapse, subjected to severe Israeli restrictions and enduring four wars since 2008. 

The latter is under the jurisdiction of the Palestinian Authority (PA), which has only limited — administrative but not military — powers of governance in under 40% of the West Bank. The PMA’s jurisdiction is distinct from that of the PA’s, extending to Gaza and West Bank areas under full Israeli control.

Under the terms of the Paris Protocol of 1994, the PMA has central bank-like powers but cannot issue its own currency. The West Bank and Gaza remain primarily reliant on the Israeli shekel, alongside the Jordanian dinar and the U.S. dollar. 

In an interview with Bloomberg Television on June 24, Milhem said that the PMA was now studying the issue of digital currencies, in line with central banks worldwide, but that no decision has been taken to proceed to issuance. Asked about the potential benefits of such a move, Milhem addressed the specific challenges faced by the institution:

“We aim to limit the use of cash, especially Israeli cash. We have excessive Israeli cash in our market that we have problems transferring to the Israeli side […] our strategy is to use a digital currency for payments systems in our country and hopefully […] to use it for cross-border payments.”

The shekels glut in Palestinian banks is due to Israeli restrictions on large cash transactions, which were imposed citing Anti-Money Laundering concerns. Israel also restricts how many Palestinian banks are able to transfer back into Israel each month, presenting a significant difficulty given that both economies overlap in extensive and complex ways.

At various junctures, Israeli banks have also threatened to suspend correspondent services to Palestinian banks. With shekels in overabundance, Palestinian banks are sometimes forced to take on additional loans to meet their foreign exchange liabilities to third parties.

Israel also manages the Palestinians’ taxes, and belatedly released $1.14 billion in revenue collected on the PA’s behalf in December 2020, after a seven-month-long political crisis surrounding Israel’s bid for further illegal annexations of West Bank territories that would be de jure and not only de facto, as now.

Related: Palestinian Authority Considering Crypto to Replace Israeli Shekel

In this fraught political, institutional and macroeconomic context, with the occupied territories still heavily reliant on aid donations and Israeli remittances and the economy strained by both Israeli actions and the impact of the global pandemic, analysts have noted that digital currency issuance may be more a question of political symbolism than monetary pragmatism.

Back in 2019, then Palestinian Prime Minister Mohammad Shtayyeh Raif said that, in a bid to try to better insulate the Palestinian economy from Israeli restrictions and political threats, he would consider using cryptocurrency as an alternative to the shekel

Then as now, however, analysts argued that “the problem of the Palestinian economy is not the currency but rather a complex economic and political reliance on Israel,” noting that a different currency could lift neither import/export blockades nor the withholding of tax clearance funds.

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Source: https://cointelegraph.com/news/palestine-monetary-authority-mulls-digital-currency-as-political-signal

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