The push by container shipping lines into inland logistics is turning into an arms race. A.P. Moller-Maersk said today that it has agreed to acquire the logistics arm of supply chain manager Li & Fung, the WSJ’s Ben Dummett and Costas Paris report, for around $3.6 billion, in a deal that would sharply scale up the shipping giant's bid to build out full-service logistics operations. LF Logistics has a sprawling network of 223 distribution centers across Asia and more than 250 customers, adding to inland operations that Maersk has been expanding through acquisitions. Maersk’s rivals are making similar moves: Mediterranean Shipping Co. this week made a $6.4 billion offer for the African logistics operations of French forwarder Bollore, and CMA CGM earlier this month bought the logistics business of Ingram Micro for $3 billion. The carriers are flexing their financial strength after record earnings in a robust container shipping market.

The booming U.S. economy increasingly looks like the main driver of global supply chain logjams. The force of the American expansion has manufacturers struggling to keep up and is pushing up prices around the world, the WSJ’s Tom Fairless writes, and  is inducing overseas companies to invest in the U.S., betting that growth is still accelerating and will outpace other major economies. The impact is evident in freight operations. Major U.S. ports are processing almost one-fifth more container volume this year than they did in 2019, while volumes at major European ports like Hamburg and Rotterdam are roughly flat or lag behind 2019 levels. Businesses are pouring money into the U.S., looking to gain from a potential sustainable increase in demand. Some are bringing production closer to American consumers, as they seek to avoid supply shocks with steps that may reshape global supply chains.

Supply-chain disruptions are reaching the pet-food bowl. While many shoppers are scouring stores and online vendors for videogame consoles and bicycles, the WSJ’s Jaewon Kang reports that pet owners are growing increasingly desperate looking for the brands that their cats and dogs love. The sector is facing the same challenges with labor, raw materials and transportation that are hitting human food supplies. But the problem is particularly acute in the pet-food aisle because so many households have adopted pets during the Covid-19 pandemic, triggering a surge in demand. NielsenIQ says pet food sales at supermarkets grew 6.9% over the 52 weeks through Nov. 27, compared with 2.3% for food overall. There are no assurances of relief for pandemic puppies and Covid kittens. One supplier has already told retailers it will limit shipments of some pet-food products through January 2023.

Nikola will pay $125 million to settle a securities investigation into allegedly misleading statements made by its founder Trevor Milton. (WSJ)

Turkey announced an economic rescue plan to turn around the dramatic decline of its currency. (WSJ)

Singapore-based logistics property specialist GLP s gearing up for a U.S. initial public offering of its investment arm next year. (WSJ)

The Biden administration’s plan to send 500 million Covid-19 tests to households is likely to put increased pressure on strained testing supplies. (WSJ)

Workers for Kellogg ended a 2½-month strike and voted in favor of a five-year contract with the cereal-maker. (WSJ)

General Mills is raising prices further on rising costs and disruptions across the cereal maker’s supply chain. (WSJ)

Global supply-chain constraints hampered Nike’s ability to meet demand in the past quarter. (WSJ)

Fruit and vegetable supplier Dole is scouting for potential acquisition targets. (WSJ)

Ships carrying liquefied natural gas bound for Asia are changing course for Europe to meet high demand and rising prices. (Financial Times)

U.S. cabinet departments urged container lines to improve services for agricultural exporters. (Lloyd’s List)

Qatar plans to invest at least $10 billion in U.S. ports and is talking to banks about a financing package. (Reuters)

United Parcel Service ordered 19 more 767 freighters from Boeing. (FlightGlobal)

India’s competition regulator approved the Tata Group’s acquisition of Air India. (Times of India)

U.S. rail regulators approved Watco’s acquisition of about 650 miles of branch lines from Canadian National. (Trains)

The American Trucking Associations projects U.S. freight tonnage will grow 28% from 2021 to 2032. (Commercial Carrier Journal)

Nikola delivered a battery-powered electric truck to Southern California port trucker Total Transportation Services. (Fleet Owner)

Japan’s Toyota Tsusho will start a four-year test at the Port of Los Angeles of cargo equipment powered by hydrogen derived from animal waste. (Nikkei Asia)

Paul Page is editor of WSJ Logistics Report. Write to him at paul.page@wsj.com.

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