A California green diesel fuel program is proving too popular for its own good. The state’s efforts have helped create a boom in the production of green trucking fuel, with biofuels now making up nearly 50% of the diesel used in California and overall greenhouse-gas emissions down about 13% since the program began in 2011. The WSJ’s Bob Henderson reports that has created a twist that few in the industry anticipated by tanking the market for California’s low-carbon fuel credits, which are now trading for about $84 per metric ton, down from over $200 at the beginning of 2021. The credit-price collapse threatens the economics of some renewable-energy projects and highlights how unanticipated market dynamics can compromise government objectives. Carbon-credit markets have emerged among the main tools used to fight global warming. The experience in California suggests the details need adjusting for the impact of supply and demand.

• The average price of diesel fuel across the U.S. has fallen by nearly 22 cents a gallon in the past month to the lowest level since January 2022. (The Trucker)
• Average diesel prices in the U.K. reached their lowest level since February last year. (Daily Mail)
• Sales of bunker fuel in Panama sank to their lowest level since last September on waning container line demand. (S&P Global)

The struggling commercial real-estate market is getting some cheer from a surprising wing of the retail business. Online retailers that helped lead the charge against bricks-and-mortar sites are building on their efforts to add physical locations, the WSJ’s Kate King reports, helping bring down vacancy rates at U.S. shopping centers and reset the direction of retail. After years of shunning bricks-and-mortar, companies that started online have been signing leases in bigger numbers. Helping drive the move is the rising cost of digital advertising that has made it more difficult and expensive to attract customers. Online eyeglasses merchant Warby Parker now has 200 locations that generated 60% of its sales last year, and it plans dozens more stores this year. The company is using its digital-native operation to help that effort. Online retailers such as Warby Parker have detailed data on customer habits, executives say, that helps them pinpoint sites for new stores.

• Meal-kit company Blue Apron is selling its production and fulfillment business to FreshRealm as it moves to an asset-light model. (MarketWatch)
• U.K. online apparel retailer Boohoo raised its near-term profit margin projection despite an 11% slide in revenue in the year ending Feb. 28. (Financial Times)

U.S. retail sales rose 0.4% in April after declining the month before. (WSJ)

U.S. industrial production rose 0.5% in April after two flat months and manufacturing output jumped 1%. (MarketWatch)

Factory activity in China fell 0.5% last month amid broader signs of weakness in the country’s economy. (WSJ)

The International Energy Agency says China’s insatiable demand for oil threatens to tighten global supplies and drive up crude prices. (WSJ)

Home Depot expects annual sales to decline for the first time since 2009 as demand for home renovation projects softens. (WSJ)

Sales of Chinese-made cars are surging in Russia following the departure of Western brands, (Automotive Logistics)

Hugo De Stoop stepped down as CEO of tanker operator Euronav and CFO Lieve Logghe became interim chief. (Shipping Watch)

VesselsValue says orders for new tankers have grown sharply so far this year over last year. (Splash 247)

Chemical vessel operator Stolt Tankers says corruption including bribery in shipping is increasing. (TradeWinds)

Truck-engine manufacturer Cummins is preparing a separate stock listing for its Atmus filtration unit. (Barron’s)

Electric-delivery van maker Workhorse Group lost a less-than-expected $25 million in the first quarter but revenue fell short of forecasts. (MarketWatch)

Brooklyn residents working with Consumer Reports have installed traffic, air quality, and sound sensors to monitor the impact of growing warehouse activity. (Consumer Reports)

Less-than-truckload carrier Saia is pulling back the planned expansion of its terminal network this year. (Transport Dive)

Japanese freight forwarder Nippon Express is buying Austria’s Cargo-Partner. (Air Cargo News)

Manchester, U.K.-based Cardinal Global Logistics transferred ownership of the business to an employee-owned trust. (Business Live)

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.