The world’s largest industrial property company says all the pieces are in place for growing warehouse demand, but deals just aren’t getting done. San Francisco-based Prologis cut its annual earnings outlook even as the real-estate giant reported better-than-expected revenue and strong earnings growth in the latest quarter. Prologis CEO Hamid Moghadam tells the WSJ Logistics Report’s Liz Young the results are part of a “perplexing environment” in which economic fundamentals are strong but many businesses remain wary of taking on more leased space. Companies are cautious, says Moghadam, because of high interest rates, economic uncertainty and geopolitical turmoil. Instead, he says, companies are expanding operations within the buildings they took up during the pandemic, when storage capacity came at a premium. Along with J.B. Hunt’s weak earnings earlier this week, the Prologis outlook suggests that corporate America’s focus on cost controls is reaching across all logistics operations. 

• Truckload carrier Knight-Swift slashed its first-quarter earnings guidance on an oversupply of trucking capacity. (Dow Jones Newswires)
• CSX’s earnings and revenue declined in the first quarter even as intermodal and coal volumes increased. (WSJ)
• Chinese property developer Vanke is seeking to sell its stake in logistics firm GLP that it bought for $2.5 billion in 2018. (Bloomberg)

Boeing is facing new concerns over quality issues in its jet manufacturing supply chain. Another former worker is stepping forward with accounts that Boeing employees were discouraged from flagging problems in production of 787 Dreamliner jets or recommending changes to prevent problems. The WSJ’s Sharon Terlep reports that former quality manager Roy Irvin says Boeing was focused on keeping assembly moving, presenting new problems for the company that is already facing a federal safety investigation over the program. Boeing’s problems have buffeted airlines, with deliveries of new aircraft now pushed back amid strong passenger travel demand. Boeing has said it would slow down the factories to focus on quality. Production woes are reaching the freight market: Bloomberg reported last week that Jefferies analysts said Boeing hadn’t delivered any 777 freighters during the first quarter. The company had 11 finished versions of the plane on hand, but without their engines.

• The most severe flooding in decades caused a wave of flight cancellations and delays at Dubai International Airport. (WSJ)
• United Airlines issued an upbeat outlook despite problems that include delayed deliveries of Boeing jets. (WSJ)

Japan’s exports grew 7.3% in March, the fourth straight month of expansion. (WSJ)

Singapore’s non-oil exports plummeted 20.7% in March on weak semiconductor trade. (WSJ)

Copper and aluminum prices both reached annual highs on rising global demand and tight supplies. (WSJ)

Apple CEO Tim Cook says the company will consider making some of its products in Indonesia. (WSJ)

Rio Tinto's iron ore shipments out of Australia fell 10% in the first quarter compared to last year. (WSJ)

Workers at Volkswagen’s lone U.S. plant are voting on whether to unionize. (WSJ)

Volvo's truck deliveries fell 9.9% worldwide in the first quarter and new orders declined 19% from a year ago. (WSJ)

Industrial group EP remains interested in buying Royal Mail after owners International Distribution Services rejected an approach. (WSJ)

ASML Holding’s orders for semiconductor manufacturing equipment fell in the first quarter as chip makers wait for demand to recover. (WSJ)

The U.S. Trade Representative will investigate “concerning allegations” Chinese policies aimed at dominating the maritime, logistics and shipbuilding sectors. (Lloyd’s List)

Chinese electric-vehicle manufacturers are eyeing production sites in Europe as a hedge against potential tariffs. (South China Morning Post)

Oregon’s Port of Portland is suspending its container operations amid light volumes and steep operating losses. (Maritime Executive)

Hapag-Lloyd and Seaspan will retrofit five mid-sized containerships to allow them to run on methanol. (Reuters)

Furniture retailer IKEA opened its first distribution center in Ireland. (Irish Times)

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 X at @WSJLogistics.