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U.S. Halts Offshore Wind Projects; Kargo Bucks Fundraising Slump; Trump Unveils New 'Battleship' By Mark R. Long | WSJ Logistics Report

The Trump administration Monday halted the construction of all U.S. offshore wind projects. The Interior Department said it paused the federal leases for five projects

in the works from Massachusetts to Virginia, citing national security risks identified by the Pentagon.

The WSJ's Jennifer Hiller writes that this is the most significant action the administration has taken thus far against the burgeoning U.S. business. The decision affects Vineyard Wind

1 off Martha's Vineyard; Revolution Wind , which is intended to deliver power to Rhode Island and Connecticut; Coastal Virginia Offshore Wind; and Sunrise Wind and Empire Wind

1, off the coast of New York.

The offshore-wind business already has faced financial setbacks, as wages soared

after the pandemic, higher interest rates drove up borrowing costs and the industry faced a global shortage of vessels

needed to haul turbines and their foundations from ports to job sites.

The Dow Jones Risk Journal Podcast is coming in January. Get an early listen now on Apple Podcasts . In this episode, we look at a dispute over enforcement of a U.S. law meant to prevent the import of goods made with forced labor in China, and at challenges compliance officers face in establishing AI best practices.

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Number of the Day Supply-Chain Technology

Kargo Technologies raised a $42 million Series B funding round, beating the odds in a tough fundraising environment thanks to success integrating AI into its supply-chain technology .

The Journal's Marc Vartabedian writes that Kargo deploys 10-foot-tall towers and lifts at industrial loading docks that use cameras, lidar and thermal sensors, combined with AI, to gather data on freight entering and exiting facilities. Customers can track and manage their shipments of goods using the data.

Venture investors committed $7.8 billion to supply-chain tech companies this year through the third quarter, below last year's full-year total of $16.5 billion and far below the record $64.1 billion raised in 2021, according to analytics firm PitchBook Data.

Shipbuilding

President Trump unveiled plans for a new "Trump-class" battleship, which will become the centerpiece of his vision for the Navy's new "Golden Fleet."

He also announced a new class of aircraft carrier, but didn't offer further details. The news follows the Navy's announcement last week that it will commission a new class of frigates .

The first ship in the Trump class will be the USS Defiant. Construction would begin "almost immediately" and would take 2 1/2 years, Trump said. The Journal's Lara Seligman and Marcus Weisgerber write that the new ship will be an upgrade to the Navy's Arleigh Burke-class destroyers. The Navy could buy 20 to 25 of the new ships, Trump said.

China can now produce most of the military technologies it needs , with the nation's share of global arms imports falling significantly. (WSJ) Quotable In Other News Mortgage rates have fallen to their lowest level in a year , but millions of U.S. homeowners are still locked into rates at or below 4% they don't want to give up. (WSJ) Canadian consumer spending increased at the end of 2025

as inflation eased and unemployment declined. (WSJ) China will implement provisional anti-subsidy duties

on EU dairy products, effective Tuesday, ranging from 21.9% to 42.7%. (WSJ) Alphabet will acquire Intersect, which builds renewable energy plants to power AI data centers , for $4.75 billion. (WSJ) Instacart is scrapping all price tests

following customer pushback to a report that the online shopping platform was charging different prices for the same items. (WSJ) Stanley Black & Decker is further slimming its product lines with a $1.8 billion deal to sell

its aerospace-component business to Howmet Aerospace. (WSJ) Mercedes-Benz settled with state attorneys general

across the U.S. who said an investigation found it used emissions-cheating software. (WSJ) Amtrak may idle new trains

due to delayed maintenance facility upgrades, potentially losing millions in expected revenue. (WSJ) DHL Global Forwarding reached a biofuel deal

with French carrier CMA CGM to jointly use 8,990 metric tons of recycled waste cooking oil. (Journal of Commerce) Japan is planning to build a facility to process mud containing rare earths

from deep-sea reserves off the coast of its easternmost island by 2027. (Nikkei Asia) South Korean marine-engine maker Hanwha Engine agreed to acquire

Norway's Seam for $197 million to add electric propulsion and power automation capabilities. (Lloyd's List) Finnish marine-engine supplier Wärtsilä sold its Gas Solutions unit to German private equity fund Mutares. (Shipping Watch) Canada Post and the postal workers' union said they reached tentative agreements , with ratification votes to come early next year. $(CBC)$ New York-listed Israeli carrier ZIM Integrated Shipping Services rejected a revised takeover proposal

from a management-led group, as it continues to review competing acquisition bids. (gCaptain) Volvo Group, the parent company of Volvo Trucks North America and Mack Trucks, plans to build a 115,000-square-foot parts distribution center in Tacoma, Wash. (Transport Topics) New commercial-barge anchorages on the Hudson River have been banned under a new federal law . (WorkBoat) About Us

Mark R. Long is editor of WSJ Logistics Report. Reach him at [mark.long@wsj.com]. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long , Liz Young and Paul Berger .

This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

December 23, 2025 07:05 ET (12:05 GMT)

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