Sponsored by

MSC Magnates Seek Ports-Deal Progress; Prologis Sees Stockpiling; A Talk With Costco's Co-Founder By Mark R. Long

Italian father-and-son shipping tycoons are looking to split the contentious sale of two Panama Canal assets from a complex, $23 billion deal to buy dozens of ports from a Hong Kong conglomerate.

The WSJ's Costas Paris and Jack Pitcher report that Gianluigi Aponte and his son Diego Aponte, who control the Mediterranean Shipping Co., or MSC, empire, have held talks to press ahead with the bulk of the deal with CK Hutchison for 41 terminals on five continents , while disputes over the two Panama ports are worked out, according to people familiar with the matter. The sale of the Panama ports is ensnared in the dispute between China and the U.S. The Apontes worked with BlackRock on the deal, which has two components: the Panama ports and everything else. The original deal calls for the Apontes' ports operator to take majority ownership of the global ports, while BlackRock would hold a majority stake in the Panama assets.

While BlackRock CEO Larry Fink primarily discussed the deal with the White House , which touted the deal, it was 84-year-old Gianluigi Aponte who initiated talks with the 96-year-old billionaire Li Ka-shing, whose family controls Hutchison. The global part of the deal could be done in three to six months, but the Panama portion could take up to a year.

Chinese leader Xi Jinping is seeking to exploit trade tensions and peel countries away from the U.S., but he must overcome concern about Beijing's aggressive trade practices. (WSJ) WSJ Podcast : The Billionaire Caught Between Trump and China WSJ Video : How Trump Plans to 'Take Back' the Panama Canal CONTENT FROM: PENSKE LOGISTICS Gain the Big Picture. Gain Ground with Penske Logistics.

When it comes to streamlining your transportation, outsourcing is in. So let Penske Logistics sweat the small stuff for you. Our dedicated transportation services help take care of all your truck, driver and fleet maintenance needs so you can keep your eye on the bigger picture for your business.

Learn More

Warehouse Demand

Industrial real-estate giant Prologis says demand for U.S. warehouse space will rise as American companies stockpile inventory close to their customers as they try to manage the fallout from the global trade war.

CEO Hamid Moghadam tells the WSJ Logistics Report's Liz Young that his company is well-placed during the broad market uncertainty because it operates warehouses across the U.S. and around the world close to population centers . Companies building up inventory near U.S. shoppers could help lift demand for a warehousing sector that has struggled with slow leasing activity for two years, following a frantic expansion during the pandemic. After reporting slightly higher first-quarter earnings, Prologis CFO Tim Arndt said on a call with analysts that customers have been rushing in merchandise, rerouting shipments and taking on overflow storage space as they try to get ahead of Trump's new tariffs.

Federal Reserve Chair Jerome Powell warned that the central bank could face difficult trade-offs in trying to cushion the U.S. economy from the fallout of President Trump's trade war. (WSJ) U.S. industrial output slipped 0.3% last month, following a 0.8% increase in February, dragged down by a slow stretch at utilities amid warm weather. (Dow Jones Newswires) China's economy got a boost in the first quarter from a rush of exports to the U.S. ahead of stiff new tariffs, but growth is set to slow as the trade war heats up. (WSJ) Hong Kong's postal service is halting U.S.-bound shipments , citing "bullying" tariffs and the elimination of the de minimis exemption. (WSJ) Global trade in goods will fall this year, and the decline could be severe if Trump presses ahead with suspended tariff hikes, the World Trade Organization said. (WSJ) Chinese buyers are starting to cancel orders of goods and commodities from the U.S. as the trade war escalates. (Journal of Commerce)

U.S. consumer spending rose a seasonally adjusted 1.4% in March , as car buyers buyers rushed to dealerships to get ahead of import tariffs. The Commerce Department figure, which measures spending at stores, online and in restaurants, came in ahead of analysts' expectations. Excluding motor vehicles, spending rose 0.5% Quotable Costco's Co-Founder

WSJ VIDEO : After co-founding warehouse chain Costco Wholesale in 1983, Jim Sinegal is known as one of the founding fathers of modern American retail. The 89-year-old sat down with the Journal's Sarah Nassauer to discuss how he built the $86 billion label Kirkland Signature and more.

Number of the Day In Other News

CSX posted lower profit and revenue for the first quarter as the railroad operator faced customer production outages and weather impacts. (Dow Jones Newswires)

Chip maker stocks were hit after Nvidia said it would record a $5.5 billion charge and disclosed the U.S. would require a license to export certain chips to China and other countries. (WSJ)

Abbott Labs estimated tariffs could affect the company to the tune of "a few hundred million dollars" in 2025. (WSJ)

Iron-ore shipments from Rio Tinto's Australian operations are likely to fall at the lower end of the miner's estimates this year, following disruptions from cyclones. (WSJ)

A major Harley-Davidson shareholder is fighting to shake up the motorcycle maker's board and quickly replace its CEO as sales deteriorate. (WSJ)

The Trump administration is opening a probe that could result in tariffs on critical minerals, rare-earth metals and the products that use them. (WSJ)

Shipowners and seafarers' representatives agreed to increases in the minimum basic wage at a meeting of the Joint Maritime Commission in Geneva. (TradeWinds)

Venture Global started commercial operations at its Calcasieu Pass liquefied natural gas export facility in Louisiana. (gCaptain)

DHL Supply Chain opened a new pharmaceutical logistics hub in Singapore. (Supply Chain Digital)

About Us

Mark R. Long is editor of WSJ Logistics Report. Reach him at [mark.long@wsj.com]. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long , Liz Young and Paul Berger .

This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

April 17, 2025 07:02 ET (11:02 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.