A key freight-sector operator is sending warning signals about the direction of the international shipping market. Online freight booking platform Freightos slashed its growth forecasts for the year amid sputtering cargo volumes and faltering freight rates. The WSJ Logistics Report’s Paul Berger writes the dour outlook came in the company’s first financial report since going public earlier this year through a merger with a special-purpose acquisition company. Freightos lost $24.5 million for the year, a steeper loss than the year before, and it sliced its 2023 revenue growth forecast to 15% to 21%, down sharply from an earlier 87% growth forecast. The pullback is significant for the shipping world because the Freightos business cuts across carrier lines in the ocean and air sectors. It also provides a warning that the demand for specialized freight services during the pandemic may not carry the same momentum as supply-chain disruptions fade.

• Israeli shipping line Zim expects a second-half turnaround after fourth-quarter net profit plummeted to $417 million from $1.71 billion the year before. (TradeWinds)
• Trucking executives say they expect a strong rebound in freight demand in the second half of the year. (Logistics Management)

More electric delivery-van models could be reaching the parcel market. Amazon and Rivian Automotive are in talks to scrap the exclusivity part of their electric package carriers, a result of shifting business in the parcel sector along with strains at the upstart vehicle manufacturer. The WSJ’s Sean McLain, Dana Mattioli and Nora Eckert report the talks follow an Amazon order from Rivian that came in at the low end of a previously provided range. Amazon is Rivian’s biggest shareholder and the companies have an agreement that requires that Rivian sell all of the vans it makes to Amazon. That amounts to about 10,000 vans this year, part of a commitment for 100,000 vehicles by 2030. The deal gives Rivian a strong foundation to build its assembly line. It also raises questions in the procurement arena about the value of such exclusive arrangements over the long term.

• Volkswagen will build its first battery plant outside Europe in Canada to take advantage of U.S. incentives for North American production. (WSJ)
• Volkswagen plans to spend $127 billion over the next five years to develop electric vehicles and new technology. (WSJ)
• Canadian package carrier Purolator will spend about $730 million to buy a fleet of electric parcel vans and electrify its terminals. (Vancouver Sun)

Regulators are taking a longer look at fast-fashion company Shein and its rapid international growth. South Africa is investigating whether Shein’s import practices have given an unfair advantage to the company founded in China but now based in Singapore. The WSJ’s Alexandra Wexler reports the issues raised in South Africa resemble complaints in the U.S. that Shein and other Chinese retailers are using an exception in U.S. customs law to import goods without paying tariffs. South African groups say Shein deliberately sends its goods in small packages of lesser value to reduce import duties aimed at protecting local businesses. It is a sign that customs laws aren’t necessarily matching the growth in e-commerce capabilities. The law known as the de minimis rule allows American tourists to bring back souvenirs from overseas duty-free and is now being used by companies to avoid paying billions of dollars in tariffs.

Plunging oil and natural-gas prices are helping pump up global economic growth. (WSJ)

Uber Technologies and other companies scored a victory with a California court ruling that preserves their independent-contractor model in the state. (WSJ)

Saudi Arabia’s national oil company reported record annual profit of $161 billion for 2022, the largest ever by an energy firm. (WSJ)

Saudi Arabia is starting an international passenger airline called Riyadh Air. (WSJ)

Drugmaker Pfizer is buying biotech company Seagen for $43 billion. (WSJ)

A.P. Moller-Maersk is opening its first route to Ukraine since Russia’s invasion. (ShippingWatch)

Shortages of truck chassis and other freight transport equipment in the U.S. are dissipating. (Journal of Commerce)

North Carolina-based refrigerated trucking operator FreightWorks ceased operations. (Transport Dive)

Logistics operator Barrett Distribution Centers opened a 960,000-square-foot warehouse near Memphis, Tenn. (Kansas City Star)

The Girl Scouts say production problems at their main baker have left their cookie inventory short. (CNBC)

A California woman is suing Sherwin-Williams for adding a 4% supply-chain surcharge at the checkout line for its paints . (Cleveland Plain-Dealer)

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.