The largest truckload carrier in the U.S. has new leadership as it looks for a path back to profitability in a troubled freight market. Knight-Swift Transportation said that David Jackson had stepped down as chief executive after nine years in the post and that he had also left the company’s board. The WSJ’s Colin Kellaher reports Jackson was replaced by Adam Miller, in an abrupt transition following a loss in the fourth quarter and a cautious outlook in a market marked by soft shipping demand. Knight-Swift has expanded its truckload profile, first with its acquisition of Swift Transportation and then by buying U.S. Xpress last year. But industry experts are watching for bigger moves in its smaller less-than-truckload segment, where operating margins are better and revenue grew rapidly last year. Satish Jindel, head of SJ Consulting, said LTL business provides “the best growth opportunities” for the company.

• IKEA is suing failed load-matching business Convoy, investor Hercules Capital and several truckers in a bid to stop them from invoicing the furniture retailer. (The Loadstar)
• Trucker Kenan Advantage acquired Northern Dry Bulk, the latest in a string of acquisitions. (Trucking Dive)

Several big container lines are trying to send signals of stability in an increasingly unsettled shipping market. The Asian and European carriers in the sector’s Ocean Alliance say they’re extending their vessel-sharing agreement for another five years, the WSJ’s Dominic Chopping reports, even as rival operators reset their own tie-ups in a market that’s been beset by abundant capacity, low freight rates and crashing profits. The carriers—Cosco Shipping, CMA CGM, Evergreen Marine and Orient Overseas Container Line—set the five-year extension well before their agreement was due to expire in 2027. That’s because new deals are already being struck following the decision by Maersk Line and Mediterranean Shipping to drop their trend-setting 2M agreement after 10 years. Maersk now plans to link with Germany’s Hapag-Lloyd, and the container lines are reportedly weighing operating changes out of Asia that could roil some shipping markets.

• Ship owner MPC Container Ships expects operating revenues and profits to decline sharply this year. (ShippingWatch)

The dry-bulk vessel Rubymar is stranded in the Red Sea and taking on water after an attack by Houthi rebels in Yemen. A WSJ video report looks at the plight of the ship, which is holding a load of fertilizer that officials say poses a serious environmental danger to the region. The cargo vessel, owned by Blue Fleet Group, was hit on Feb. 18 and has already left an 18-mile oil slick in its wake.

• A second consecutive week of growth in Red Sea traffic suggests trade is stabilizing despite ongoing attacks targeting ships. (Lloyd’s List)
• The U.S. issued its first sanctions against a shipowner for supporting the Houthis in Yemen. (TradeWinds)

Orders for durable goods in the U.S. slipped 0.3% in January, excluding volatile transportation orders. (MarketWatch)

A measure of U.S. consumer confidence retreated this month from a six-month high. (WSJ)

Macy’s plans to close about 150 stores over the next three years in an overhaul of the department store chain’s sales strategy. (WSJ)

Apple is ending its decade-long push to build its own electric vehicle. (WSJ)

Chevron’s $53 billion acquisition of Hess may be derailed by an emerging dispute over Hess’s stake in a prolific oil project off Guyana. (WSJ)

Lowe’s is projecting lower earnings and sales after comparable-store revenue declined 6.2% last quarter. (WSJ)

Online apparel merchant Shein may move its public stock offering from New York to London because of tight regulatory scrutiny in the U.S. (Financial Times)

Family Dollar agreed to pay $41.5 million in fines to settle charges that it held food and other goods in a rat-infested warehouse in West Memphis, Ark. (Memphis Commercial Appeal)

Developers of a $1 billion container terminal in Baltimore expect to break ground by the end of next year and open in 2028. (Baltimore Sun)

Stellantis plans to take more control of the outbound logistics of its finished vehicles. (Automotive Logistics)

Canada’s Cargojet swung to a $25.8 million loss in the fourth quarter as revenue fell nearly 17%. (Dow Jones Newswires)

Indian on-demand delivery provider Shadowfax raised $100 million in a Series E funding round. (TechCrunch)

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 X at @WSJLogistics.