FedEx is signaling changes in its business now that founder Fred Smith has stepped down as CEO. The express-delivery giant is adding board members under pressure from an activist investor, the WSJ’s Esther Fung and Cara Lombardo report, and is raising its dividend and taking other steps aimed at boosting shareholder returns. Activist investor D.E. Shaw Group held a roughly $200 million stake in FedEx as of March 31 and has started pushing for changes at the company while increasing its investment. Some investors want FedEx to streamline its operations, and it has been seen on Wall Street as a potential activist target for years. Unlike competitor United Parcel Service, FedEx operates its Express and Ground businesses separately, which some industry experts say adds costs and inefficiencies. Raj Subramaniam, who replaced Mr. Smith as CEO on June 1, has talked about mixing the two delivery networks to improve efficiency.

• DHL will raise its parcel-delivery prices in Europe on July 1. (Reuters)

The next hot industrial property market may be vacant land next to seaports. The flood of imports over the past two years has tied up space at gateways around the country, and the WSJ’s Konrad Putzier reports that logistics companies and port operators are rushing to lease nearby lots to store containers waiting for rail or truck hookups. The rising demand is driving up rents and spurring more investment in coastal outdoor-storage properties. The Georgia Ports Authority has leased six lots in Georgia, Alabama and North Carolina for “pop-up” container yards since the Port of Savannah was swamped by inbound boxes, leading to an offshore vessels backup that stood at 28 container ships last week. Some companies are thinking beyond the empty lots in industrial zones. Short-term warehouse provider Chunker says it plans to use former Sears department store sites and parking lots near California ports.

Venture capital interest in food delivery remains as strong as ever. A startup led by Jet.com founder Marc Lore has raised hundreds of millions of dollars to expand the business, the WSJ’s Sarah Nassauer reports, even as the market for investment in startups is cooling. New York-based Wonder recently closed a $350 million funding round at a valuation of roughly $3.5 billion. Wonder has now raised about $900 million in debt and equity. Wonder aims to build a network of truck-based restaurants that can cook hot curbside meals drawn from chef-driven menus and which can also deliver to homes. The company is looking to grow in a field that is already facing growing pressure on bottom lines due to rising costs and doubts about businesses that grew rapidly during the pandemic. But Wonder’s investors are also betting on Mr. Lore and his enormously successful track record with startups.

• Southeast Asian e-commerce firm Shopee will lay off some workers in its food delivery and payments units. (Straits Times)

A gauge of U.S. supplier prices rose at an accelerating pace in May. (WSJ)

Oil production among OPEC members slumped in May after the cartel pledged to stabilize an undersupplied market. (WSJ)

U.S. natural-gas prices plummeted after an LNG export terminal in Texas said a fire last week would knock out the facility until late this year. (WSJ)

President Biden is closing in on a decision to lift some tariffs on Chinese imports. (WSJ)

The South Korean government reached a deal with truckers to extend a minimum-wage plan, ending a weeklong strike that had snarled supply chains in one of Asia’s export powerhouses. (WSJ)

The two sides in the West Coast port labor talks issued a joint statement saying neither side “is preparing for a strike or lockout.” (The Loadstar)

A ship backup off the Port of Hamburg has grown to 21 vessels amid labor unrest at the main German gateway. (Lloyd’s List)

International maritime regulators rejected a request to exclude ships operating in bad weather from new emissions restrictions. (Associated Press)

Shipowners that bought scrubbers to let them burn dirtier fuel are enjoying massive discounts due to a glut in high-sulfur fuel oil. (Associated Press) 

Container xChange says prices for shipping containers rose in May for the first time this year. (DC Velocity)

Two women are suing A.P. Moller-Maersk, claiming the shipping line didn’t protect them from rape and sexual harassment. (ShippingWatch)

U.S. rail regulators ordered the Class 1 railroads to provide more detailed plans for improving their service. (Progressive Railroading)

Cathay Pacific’s freight traffic was down nearly 60% in May from the same month in 2019. (Air Cargo News)

Paul Page is editor of WSJ Logistics Report. Write to 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.