Shippers and logistics companies are bidding up warehouse rental prices in a scramble for space to meet e-commerce demand. Real-estate group CBRE says average base rents that landlords and tenants have agreed to so far this year grew faster than asking prices in the U.S. The WSJ Logistics Report’s Jennifer Smith writes that prices are rising especially fast for space near ports and cities, and for big-box warehouses. The competition, driven by the push to get goods in position for faster distribution of online shopping orders, shows how the impact of accelerating e-commerce demand during the pandemic is cascading through supply chains. That puts warehousing alongside an array of other markets, from raw materials to transportation capacity, where supply constraints are driving up costs. CBRE says another 330 million square feet of distribution space will be needed in the U.S. by 2025 just to meet e-commerce demand.

If relying too much on one supplier is a problem, global semiconductor buyers have improvements to make. Taiwan Semiconductor Manufacturing Co. is the world’s dominant chip maker by a wide margin, and the WSJ’s Yang Jie, Stephanie Yang and Asa Fitch report that the company’s grip on the business has left the world in a vulnerable position as more products require chips of staggering complexity.  The company makes almost all of the world’s most sophisticated chips, and many of the simpler ones, too, as the outsourced manufacturer for companies like Apple and Qualcomm. TSMC’s inability to make chips fast enough has become clearer amid a global shortage, adding to the chaos of supply bottlenecks, higher prices for consumers and furloughed workers. Finding other suppliers isn’t easy. Analysts say it will be difficult for other manufacturers to catch up in a business that requires hefty capital investments.

The circular economy is drawing more investor interest. Investment firm Circulate Capital is looking to raise more funds to boost its bet that modest, targeted backing can help tackle the global problem of plastic waste solution. The WSJ’s Laura Kreutzer reports that Circulate is one of a small but growing number of firms investing in companies that contribute to what’s known as the circular economy. The business model seeks to eliminate waste that companies produce by continuously reusing products and materials and regenerating natural systems. Several large multinational corporations are funding these firms’ efforts as part of a broader push to reduce the overall waste their own companies produce and the amount of virgin materials they use. Consumer-goods supplier Unilever, which has an ambitious waste-reduction effort underway, has backed funds managed by Circulate and New York-based Closed Loop Partners. And Coca-Cola backs the Circulate Capital Ocean Fund.

Suez Canal authorities and maritime insurers reached an agreement in principle to release the container ship Ever Given. (WSJ)

The median home price in the U.S. jumped 23.6% to a record $350,300. (WSJ)

U.S. lawmakers negotiating a roughly $1 trillion infrastructure proposal are trying to finalize a plan for financing the package. (WSJ)

Chinese digital freight broker Full Truck Alliance priced its initial public stock offering in New York at the top end of expectations. (Dow Jones Newswires)

U.S. airports are set to receive $8 billion in government grants to help them emerge from the coronavirus pandemic. (WSJ)

The Teamsters union is considering creating a specific division aimed at organizing Amazon workers. (Reuters)

Hudson's Bay will spin off the e-commerce division of off-price chain Saks Off 5th into a standalone company. (Financial Post)

Mediterranean Shipping Co. CEO Soren Toft says European Union plans to slash overall carbon emissions could drive up emissions for the shipping industry. (Financial Times)

Japan’s Mitsui OSK Lines sharply raised its outlook to a forecast of $2 billion in earnings this fiscal year. (Lloyd’s List)

Hapag-Lloyd is buying six container ships with capacity for more than 23,500 containers each from South Korea’s Daewoo Shipbuilding & Marine Engineering. (Splash 247)

The state-owned-owned Korea Development Bank is exploring a sale of its stake in shipping company HMM. (Maritime Executive)

The global container ship owners’ group known as the Box Club is disbanding. (Journal of Commerce)

Semiconductor maker Globalfoundries is adding a chip plant to its existing operations in Singapore. (Dow Jones Newswires)

A federal court handed trucking fleets a fresh defeat in their battle against California’s tougher restrictions on independent contractors. (DC Velocity)

Caterpillar will develop and produce zero-emissions mining vehicles for Canada’s Nouveau Monde Graphite mine. (Dow Jones Newswires)

Uber Technologies is acquiring the remaining 47% of grocery delivery firm Cornershop it didn’t already own. (Grocery Dive)

Apparel retailer Gap began construction of an 850,000-square-foot distribution center in Longview, Texas. (Longview News-Journal)

San Francisco bars face a beer shortage because of delivery problems at supplier Golden Brands. (SFist)

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

Follow the WSJ Logistics Report team: @PaulPage, @jensmithWSJ, @CostasParis. Follow the WSJ Logistics Report on Twitter at @WSJLogistics.