There are faint but growing signs of hope for labor peace for freight railroads. Members of a labor union for machinists approved an agreement on wages and work conditions with the big operators, after rejecting an earlier proposal. The WSJ’s Esther Fung reports the approval by the machinists came by a narrow margin, and that may only partly ease concerns that the two big unions that haven’t ratified the agreement won't get their thousands of members on board. Those unions are still voting and are expected to announce results around Nov. 21. Shipper groups have called for the White House to broker another deal between the two sides if needed to prevent rail-service disruptions. The White House says the onus is on the companies and unions to negotiate an agreement. The unions have agreed to standstill agreements that would delay any strike until other unions have cast their votes.

• Canadian National Railway says October was the best month ever for western Canadian grain movements. (Progressive Railroading)

The pandemic-driven hiring surge in logistics operations is cooling down. Operators of warehouses, trucking fleets and other freight businesses say they are paring payroll growth as supply-chain disruptions ease, the WSJ Logistics Report’s Liz Young writes, signaling that companies are adjusting their labor rolls to a broadly shifting economic environment. U.S. warehousing and storage companies cut 20,000 jobs last month, according to seasonally-adjusted numbers, and have now trimmed employment by nearly 50,000 jobs since June. Trucking companies added more than 13,000 jobs last month, but the sector has been volatile and some trucking executives say they are tightening their hiring outlook through the end of the year. Shipping companies are seeing easing demand this fall as retailers work though their excess inventories, and many executives now are projecting a muted peak season. But the clearing supply-chain bottlenecks are also tamping down the all-hands urgency to bring in more staff.

• U.S. employers added 261,000 jobs in October and the jobless rate ticked up to 3.7%. (WSJ)
• The National Retail Federation forecasts 8% year-over-year growth in holiday spending this year. (Modern Materials Handling)

A pillar of the industrial manufacturing and shipping sectors is starting to bend. Iron-ore prices have slumped to a three-year low, the WSJ’s Rhiannon Hoyle reports, as a sharp slowdown in Chinese homebuilding combines with Beijing’s zero-Covid strategy to sap demand for the steelmaking commodity. The benchmark price of iron ore fell by 17% in October from September, leaving it more than 50% below the 2022 high. Other commodity prices have fallen, but not by nearly as much as iron ore, largely because of China’s economy. The Chinese property market accounts for roughly a third of global demand for iron ore that is shipped by sea. U.S. home sales have also been sagging this year, and transport of construction materials is also down. The Association of American Railroads says loads of primary metals products carried by U.S. railroads have fallen by double digits for six straight months. 

Dozens of natural gas tankers are lining up off Europe’s coast rather than unloading their cargoes in countries anxious for the supplies. Each of those tanker holds enough liquefied natural gas to heat a million homes a month, and a WSJ video looks at why they’re standing by rather than unloading, at least for now.

Apple warned shipments of its high-end iPhone models would be hindered amid Covid-19 restrictions at a major supplier in China. (WSJ)

Foxconn is revising down its fourth-quarter outlook due to the pandemic affecting its operations in Zhengzhou, China. (MarketWatch)

Chinese health officials say they will stick to their zero-tolerance Covid-prevention strategy. (WSJ)

The United Nations COP27 climate conference is beginning in Egypt. (WSJ)

Healthcare products distributor Cardinal Health plans to raise prices to cover rising labor and shipping expenses. (WSJ)

Vietnam and China want to build a “stable supply chain” between the countries. (South China Morning Post)

Japan plans to spend nearly $2.4 billion in collaboration with the U.S. to develop and help produce next-generation semiconductors. (Nikkei Asia)

Some Bed Bath & Beyond suppliers are restricting or halting shipments even after the retailer secured new financing. (Bloomberg)

A.P. Møller-Maersk says the oil industry is holding back a clean energy transition in global supply chains. (Financial Times)

Maersk Line plans to establish a large methanol production facility in Spain. (Maritime Executive)

Mediterranean Shipping Co. says it will pass along to customers the cost of complying with Europe’s new carbon trading system. (Splash 247)

Quarterly earnings at Atlas Air Worldwide Holdings fell nearly 50% to $60.1 million. (Air Cargo World)

Mondelez International named Frank Cervi chief supply chain officer, replacing Sandra MacQuillan. (Supply Chain Dive)

Industrial parts supplier Fastenal’s October sales jumped 13.6%. (Modern Distribution Management)

FedEx Freight is rolling out dimensional pricing for less-than-truckload shipments separate from the industry’s long-standing classification system. (Logistics Management)

Drivers for U.K. logistics company Wincanton are taking a strike vote after rejecting a contract offer with a 6.5% pay increase. (Motor Transport)

A worker at a FedEx sorting facility in South Yorkshire in the U.K. was stabbed to death and another man injured in an attack. (BBC)

Join us on Nov. 9  for a webinar on advancing supply-chain sustainability. Speakers include Sandra MacQuillan, executive vice president and chief supply chain officer at Mondelez International, and Ravi Anupindi, professor of operations and management at Michigan Ross. Sign up here.
 

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.