FedEx shareholders and its less-than-truckload competitors may be the big winners in the company’s review of its trucking business. Transportation analysts and experts say they expect the parcel carrier to spin off its FedEx Freight unit as a separate publicly traded company, a move that would likely draw a premium in a sector that has proven to be a darling on Wall Street over the past year. Experts say that operating as a standalone business would also help the trucking unit focus more on operating margin, adding support to freight rates that have held up in the LTL sector while broader trucking prices have sagged. Market capitalization measures in the business have surged as LTL carriers have defied a broader downturn in trucking demand. Carriers including Old Dominion Freight Line and Saia have gained lofty valuations, suggesting FedEx Freight’s market cap could reach tens of billions of dollars.

• FedEx dropped 22 of its Boeing 757 freighters from its fleet over the past year. (Air Cargo News)

The biggest obstacle to tougher American sanctions on oil exports from Russia, Iran and Venezuela may be within the U.S. itself. Washington just levied fresh restrictions against Iran, but the measures affect only a fraction of the country’s oil exports and are unlikely to gum up global markets. Analysts say sanctions on major oil producers have been softer than expected, the WSJ’s Anna Hirtenstein, Joe Wallace, Ian Talley and Costas Paris report, as the Biden administration seeks to keep gas prices stable ahead of the election by encouraging oil to flow into global markets. Although tensions between Iran and the U.S. have ratcheted up, exports from Iran surpassed 1.5 million barrels a day this year starting in February, up substantially over recent years. One result has been relative stability in U.S. fuel markets: After a runup last fall, diesel prices in recent weeks have remained below year-ago levels.

• Russia’s state-owned Sovcomflot says a crew on a tanker was forced to abandon its sinking vessel south of Yemen over the weekend. (Maritime Executive)

Sales of new homes in the U.S. fell in May to the lowest level since November 2023. (MarketWatch)

Consumer inflation in Canada stepped up to a 2.9% annual pace. (WSJ)

Refrigerated logistics company Lineage filed for an initial public offering without setting a target opening price. (MarketWatch)

Safety investigators say Norfolk Southern and its contractors failed to tell crews responding to last year’s Ohio train derailment that venting and burning off toxic chemicals wasn't necessary. (USA Today)

Dozens of industry groups urged the White House to help restart stalled talks between East and Gulf coast dockworkers and port operators. (Bloomberg)

Alphaliner says the number of idled containerships is down to numbers not seen since the pandemic. (The Loadstar)

Strong demand on Asia’s export trade lanes is absorbing huge amounts of capacity being injected by container lines. (Journal of Commerce)

Peru and Cosco Shipping resolved a dispute over the business model of a massive port the state-owned Chinese company is building near Lima. (Splash 247)

Japan plans to build a network of massive conveyor belts to transport freight more than 300 miles between Tokyo and Osaka. (South China Morning Post)

Amazon plans to launch a Temu-like service selling cheap items from warehouses in China that ship directly to consumers. (The Information)

An unnamed company is building a 630,000-square-foot fulfillment center outside the Kansas City International Airport under the code name “Project Falcon.” (Business Journals)

British food-delivery company Deliveroo recently rejected a takeover approach from Doordash. (Reuters)

Two-thirds of women working as truck drivers say in a survey that they have been harassed or discriminated against on the job. (Supply Chain Brain)

Hydrogen fuel cell tech company Hyzon Motors is refocusing its business on the waste industry and core markets in North America. (Trucking Dive)

Adobe Analytics says online cosmetics sales have grown 8.8% since January, including a 37.1% surge in high-end lipsticks. (Forbes)

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.