Declining logistics costs are helping ease inflation pressures in supply chains. U.S. supplier prices fell in March by the most in nearly three years, the WSJ’s Gabriel T. Rubin reports, with the producer-price index sliding a steeper-than-expected 0.5% from the month before. The measure marks the latest sign that pandemic-driven strains, from rising raw materials prices to shipping bottlenecks, that have sent corporate costs soaring are now receding. Supplier prices rose 2.7% in March, down significantly from last year’s highs but still above prepandemic levels. Commodities prices have been falling and buyers are starting to see the impact of tumbling logistics prices. The Labor Department’s index for transportation and warehousing of finished goods dropped 2.4% from February, the fourth straight monthly decline, and was down 3.8% over the past year. That suggests falling trucking rates, diesel prices and other freight transport measures are cascading through supply chains.

• U.K. retailer Tesco says “unprecedented” inflation across its supply chain will hit its profits this year. (Financial Times)

Amazon is looking to areas such as tech innovation and grocery sales for expansion as it resets its logistics network for a changing economic environment. CEO Andy Jassy writes in his second annual letter to shareholders that the e-commerce giant has faced one of its “harder macroeconomic years in recent memory,” the WSJ’s Sebastian Herrera and Dean Seal report, but the company is focused on areas that could jumpstart new growth. Those include international business, but the domestic U.S. distribution network that has been the target of cutbacks remains under stress. In his letter, Mr. Jassy also says Amazon is looking to optimize its network and battle the high cost of getting products to customers. As part of that push, Amazon is moving away from its national fulfillment network and toward a more regional model to reduce the costs and extended delivery times associated with cross-country shipping.

• A union report says federal data shows Amazon warehouse workers suffered serious injuries at twice the rate of employees at comparable facilities. (CNBC)

Already-bustling trade lanes between Brazil and China may soon get even busier. Brazilian President Luiz Inácio Lula da Silva is due to meet Chinese leader Xi Jinping in Beijing in a state visit beginning Friday. The WSJ’s Samantha Pearson and Austin Ramzy report that more goods movement between the countries is on the agenda, with some 20 bilateral deals to be signed during the trip. China overtook the U.S. in 2009 as Brazil’s biggest trading partner, as the Latin American nation became the go-to supplier to feed the Asian nation’s rapidly-growing population and factories. Brazilian exports to China totaled some $89.7 billion last year, and more than half of it was in soybeans and iron ore, making the trade a linchpin of the dry-bulk shipping sector. The countries have also explored deals in other industries such as healthcare and technology, which could boost trade beyond commodity flows. 

• Brazil's currency hit its strongest level against the U.S. dollar in 10 months, undercutting the value of the country's exports. (Dow Jones Newswires) 

OPEC expects global demand for crude oil to grow by more than 2 million barrels a day this year. (WSJ)

Delta is trimming its flights for the second quarter after reporting a $363 million first-quarter loss. (WSJ)

Efforts to clean up coal-fired power plants with ammonia are attracting new investment from big companies. (WSJ)

Apple is in talks with suppliers to make MacBooks in Thailand, adding to its production of watches in the country. (Nikkei Asia)

Japanese trading house Mitsubishi is looking to invest in nickel and lithium projects to meet growing demand for electric vehicle batteries. (Reuters)

Walmart added cutbacks at its Chino, Calif., distribution center to the layoffs across its fulfillment network. (Retail Dive)

The Teamsters union says it won’t start national negotiations with United Parcel Service until regional contracts have been finalized. (Supply Chain Dive)

The Teamsters are trying to organize workers at the DHL Express hub at the Cincinnati airport. (Cincinnati Enquirer)

U.S. authorities charged four former Polar Air Cargo senior executives and six other people with defrauding the freight airline out of millions of dollars. (Airways)

A U.S. judge ordered Russia’s AirBridgeCargo to pay BOC Aviation $406.2 million for defaulting on leases for three 747-8 freighters following Russia’s invasion of Ukraine. (Air Cargo Next)

Ukrainian authorities charged the former head of Antonov Airlines with negligence for failing to fly the AN-225 to safety ahead of the Russian attack that destroyed the freighter. (Air Cargo News)

First-quarter sales at industrial parts distributor Fastenal rose 9.1% but growth slowed sharply in March. (Modern Distribution Management)

Thieves broke into a truck parked outside a Philadelphia store overnight and made off with more than $100,000 in dimes. (Associated Press)

Rising rates and volatility in the banking industry are paving the way for a golden age in private debt.

Managers of private-credit and debt funds say they are ready to step in to fill the gaps opened by a pullback in leveraged loans from banks, in some cases by clubbing together on debt packages. What’s more, private-credit firms see an opportunity to secure investments at more attractive terms for themselves, and they have plenty of dry powder to back those deals.

In a special report, we explore the ever-expanding world of private credit, opportunities for distressed debt and how the environment shapes the market for collateralized-loan obligations. And, we bring you a list of the new rulers of private credit. 

Read the special report here.

Paul Page is editor of WSJ Logistics Report. Reach him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on Twitter at @WSJLogistics.