China’s growing appetite for oil is driving upheaval in global energy-transport markets. The cost of chartering Very Large Crude Carriers has more than doubled over the past month, the WSJ’s Costas Paris and Joe Wallace report, providing a boost to tanker owners including Frontline, Teekay Tankers and Euronav while potentially bringing new volatility to prices for gasoline and natural gas. Chinese crude imports are on track to match or surpass the record level from June 2020, according to commodity-tracking firm Kpler. Shipowners and brokers say tankers positioned to ship U.S. crude to China are the hottest ships on the market. China’s demand will buffet markets for energy shipping far from Asia’s trade lanes because the longer trips from the U.S. to Asia tie up capacity for longer stretches. With relatively few new tankers on order, that suggests there’s no end to the high shipping costs on the horizon.

• Russia’s use of old tankers to bypass sanctions is raising the risk of oil spills. (Washington Post)

A shift in U.S. trade rules is creating hurdles to reshoring. The decades-old trade rule in the Generalized System of Preferences expired at the end of 2020, ending tariff-free access to the U.S. market for thousands of goods from more than 100 countries. The WSJ’s Jason Douglas reports the glitch effectively changes the financial calculations for sourcing and distribution of goods made overseas. The impact accounts for a tiny percentage of overall U.S. imports, but it has meant surging costs and hard choices for smaller companies that have little cushion to absorb the hit. The program has often expired since it came into force in 1975, but has usually been swiftly renewed. Renewal this time has been complicated by political wrangling over how to decide which countries should be eligible for GSP benefits, as well as procedural hurdles linked to broader disagreements in Congress over trade and China.

• Biden administration efforts to pursue trade agreements that bypass Congress, including a critical minerals deal with Europe, have sparked a fight with lawmakers. (WSJ)

Mining companies in Europe are racing to reset metals supply chains. Australian-German mining company Vulcan Energy Resources is starting to extract lithium from deep underneath a picturesque valley near the Rhine River, one of a number of projects aimed at bringing the continent a steady and nearby supply of the metal used in batteries for electric vehicles. The WSJ’s Eric Sylvers reports such ventures could revive raw materials production in Europe, the only continent where the mining of minerals and metals declined in the first two decades of this century. Mining lithium, copper and rare earths has grown urgent since Russia’s invasion of Ukraine undercut long-established energy flows. Europe’s drive for self-sufficiency is running up against environmental concerns, however. Protests have greeted efforts by Rio Tinto and London-based Savannah Resources, and mining companies now are digging deeper for ways to clean up extraction operations.

• Critics of a large lithium mining project in India say the large amounts of water needed for extraction will exacerbate a groundwater crisis. (Deutsche Welle)
• China’s aluminum production rose 7.5% in the first two months of 2023. (Mining.com)
• The price of lithium has dropped nearly 20% since January. (New York Times)

U.S. industrial production was flat in February while manufacturing output slipped 0.1%. (MarketWatch)

A measure of consumer sentiment fell this month for the first time in four months. (MarketWatch)

The cost of U.S. imported goods fell in February for the seventh time in eight months. (MarketWatch)

Russia agreed to extend a deal to allow Ukrainian grain shipments through Black Sea ports. (WSJ)

Auto makers and dealerships in China are slashing prices after the lifting of pandemic controls failed to reverse slumping demand. (WSJ)

PepsiCo and Dutch dairy producer FrieslandCampina asked suppliers to halt palm oil purchases from Indonesia's  Astra Agro Lestari. (Reuters)

Plaintiffs in 21 lawsuits against Norfolk Southern over the East Palestine, Ohio, derailment agreed to consolidate their cases. (Youngstown Vindicator)

General Motors has shuttered production at its Silao, Mexico, assembly plant for two weeks because of supply chain problems. (Detroit News)

Japan’s Maxell plans to mass produce the world’s first high-power, solid-state batteries for industrial machines. (Nikkei Asia)

A.P. Moller-Maersk and rival container line Hapag-Lloyd plan a combined $22.6 billion in dividend payouts despite the threat of falling profits. (Financial Times)

CK Hutchison will spend $700 million to expand container capacity at two Egyptian ports. (Port Technology)

Ship owner Costamare is investing $200 million in Neptune Maritime Leasing. (Splash 247)

Developers plan a large expansion of cargo facilities at Tokyo Narita International Airport as the gateway adds a third runway. (Air Cargo News)

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.