The war between Israel and Hamas is spilling into the world’s oceans. Houthi rebels in Yemen hijacked an Israeli-linked car carrier at the weekend, dragging global shipping into the conflict and heightening fears of further attacks. The WSJ’s Costas Paris writes that the Bahamas-flagged Galaxy Leader was chartered to Japanese carrier NYK Line and was traveling between Turkey and India when it was boarded in the Red Sea. The ship wasn’t carrying cargo, but 25 crewmembers from a range of countries were taken hostage. The seizure highlights how a war that started in early October and has so far been contained mostly to Israel and the Palestinian territories can ripple through supply chains. The vessel is owned by a unit of a company tied to an Israeli businessman. The Iran-backed rebels say they will continue to target vessels linked to Israel because of its attacks on Gaza.

• Israeli-linked ships are diverting away from the Red Sea as Houthis threaten more attacks. (Lloyd's List)
• Japan’s trade minister warns of potential supply-chain disruptions following the hijacking of the NYK Line ship. (Nikkei Asia)

Plunging metals prices suggest the transition to electric vehicles is moving into the slow lane. Mining companies are suspending or delaying projects because of crashing prices for lithium, cobalt and other metals used in EV batteries. The WSJ’s Scott Patterson writes that mines take years to come online and the slowdown could hit EV supply chains toward the end of the decade, leaving carmakers scrambling for supplies. Demand for lithium is expected to outpace supply by nearly 400,000 metric tons by 2030, according to Benchmark Mineral Intelligence. The decline in prices is being driven by a weaker-than-expected economic recovery in China, the world’s largest consumer of metals. Battery-grade lithium prices are down more than 60% this year, while nickel, graphite and cobalt have lost about 30%. Some mining industry executives say the low prices could make electric-vehicles more affordable, spurring a rebound in EV demand and in metals prices.

• Tesla hasn’t yet formally registered its plans for investment in an electric-vehicle factory near Monterrey, Mexico. (Bloomberg)
• Northvolt has developed a new battery that doesn't use scarce metals, such as lithium, nickel and cobalt. (Dow Jones Newswires)

Some executives are warning of the potential for deflation. (WSJ)

The index of leading economic indicators declined in October for the 19th month. (MarketWatch)

Construction of new homes in the U.S. rose unexpectedly in October. (MarketWatch)

Ørsted might need to cancel more offshore wind projects to shore up its balance sheet. (WSJ)

Amazon is launching a program to train millions of workers in artificial-intelligence. (WSJ)

Electric-vehicle startup Fisker lost its second chief accounting officer in less than a month. (WSJ)

Trucking company Estes Express Lines will invest more money in technology following an October cyberattack. (Journal of Commerce)

Four men are accused of breaking into dozens of United Parcel Service warehouses and stealing $1.6 million worth of goods. (Miami Herald)

Ross Stores raised its annual earnings outlook on falling freight costs and robust third-quarter sales. (Reuters)

A bulk carrier on charter to Cargill struck a mine in waters off Ukraine. (Splash 247)

Two freighters were lost and 12 are missing off the coast of Turkey following a severe storm in the Black Sea. (Maritime Executive)

The Rockefeller Group and the Matan Cos. plan to jointly develop a 5-million-square-foot industrial and logistics center near the Port of Virginia. (Port Technology)

Delays and restrictions at the Panama Canal have added about $100,000 to daily rates for very large gas carriers. (TradeWinds)

U.S. freight forwarder AIT Worldwide expanded in Europe with the acquisition of Netherlands-based Lubbers Logistics. (The Loadstar)

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.