The Trump administration granted a license to the world’s largest cash buyer of ships for scrap to purchase four vessels under sanctions for carrying Iranian cargo, the WSJ Logistics Report’s Paul Berger writes.

The decision could pave the way for owners of other sanctioned ships to exit the so-called shadow fleet that carries illicit goods for countries such as Iran and Russia. Shadow fleet ships tend to be older and less well-maintained than other commercial vessels, posing environmental and safety risks. The license comes as the U.S. cracks down on Iran-linked vessels, including the seizure of a tanker in the Indian Ocean earlier this week.

Dubai-headquartered GMS had applied to the Treasury Department’s Office of Foreign Assets Control for a broad license to scrap sanctioned vessels. GMS CEO Anil Sharma said OFAC didn’t grant a broad license, but did allow the company to buy four containerships: the Yogi, the Timon, the Rantanplan and the Bigli. The four were among more than 50 vessels sanctioned by the U.S. last year for links to an Iranian shipping magnate.

The U.S. government doesn’t typically authorize payments for vessels under sanctions. A Treasury Department representative said the agency doesn’t comment on specific license applications, but added it was committed to getting such designated vessels off the water.

Note to Readers: The Logistics Report won't be published Monday in observance of Memorial Day. We will be back Tuesday.

Stellantis plans to focus most of its investments for the U.S. market on its Jeep and Ram divisions, while introducing more-affordable new cars, the Journal’s Christopher Otts writes.

According to a turnaround plan, Stellantis is aiming to grab a bigger share of the market in North America with 11 all-new vehicles, including seven under $40,000 and two under $30,000. Jeep and Ram, along with mainstream European makes Peugeot and Fiat, will receive 70% of the company's product investments under CEO Antonio Filosa’s $70 billion revival plan. 

The Chrysler brand—which currently sells only one minivan—will receive three new compact SUVs, at least one of which will start at under $30,000. Stellantis also plans to add compact and midsize trucks to its Ram franchise, which currently sells only full-size pickups.

Walmart said it continued to expand automation across its sprawling supply chain, with about half of its U.S. e-commerce fulfillment-center volume now automated, and more than 60% of stores getting some level of freight from automated distribution centers.

CEO John Furner also said on a call with analysts that more than half of its regional distribution centers were in various stages of being retrofitted, as the retail giant posted strong quarterly sales growth and noted that rising fuel prices could draw in more cash-strapped shoppers.

Walmart plans to keep prices low to grab market share, but could lift them later if fuel costs stay high, the WSJ’s Sarah Nassauer writes. Higher-income shoppers are gravitating toward Walmart’s fast online delivery services and premium products. 

Walmart has filed for a tariff refund, but doesn’t expect a massive windfall. The company estimates it paid around $2.4 billion in tariffs that the U.S. Supreme Court deemed illegal, less than 1% of last year’s U.S. sales.

• Deere said it recorded a recovery of $272 million from tariff refund claims accepted by Customs and Border Protection, as the company posted growth in construction-equipment sales that offset weakness in its agriculture segment. (WSJ)
• Advance Auto Parts logged its strongest quarterly same-store sales growth in five years, with the company pointing to strength in its business catering to professional installers. (WSJ)

• U.S. jobless claims fell to 209,000 in the week through May 16. (WSJ)
• The Philadelphia Fed’s manufacturing activity index fell to -0.4 in May from 26.7 in April, indicating a contraction. (WSJ)
• Japan’s exports rose 14.8% in April from a year earlier, exceeding forecasts due to a weak yen and resilient global demand. (WSJ)
• The average rate on a 30-year fixed mortgage rose to 6.51% this week–the highest since August–from 6.36% last week. (WSJ)
• Hovnanian Enterprises said it swung to a quarterly loss, citing the Iran war for reigniting inflation concerns, prompting would-be home buyers to hesitate. (WSJ)
• Arafura Rare Earths approved construction of a $1.6 billion rare-earths mine in Australia. (WSJ)
• Airbus and Air France were found guilty of the involuntary manslaughter of 228 passengers and crew, 17 years after what remains the worst aviation disaster in France’s history. (WSJ)
• Airbus warned some customers about further delays to A350 deliveries later this ​decade, mainly reflecting problems ​in securing key fuselage parts from a former Spirit ​AeroSystems plant. (Reuters)
• SpaceX plans to build a 10-gigawatt solar-cell manufacturing plant near Austin. (Bloomberg)
• Japan’s Kawasaki Heavy Industries plans to set up a joint development center in Silicon Valley with Nvidia to work on integrating robots with physical AI. (Nikkei Asia)
• The International Maritime Organization adopted the world’s first international framework of rules for autonomous commercial ships. (gCaptain)
• Private-equity firm Kingswood Capital Management sold California maritime-services company Lind Marine to investment firm Tallvine Partners for an undisclosed sum. (WorkBoat)

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.