Two big projects illustrate President Trump's push to revive old-line industries, and the challenges of overcoming the hurdles that drove heavy industry out of the U.S., The Wall Street Journal's Bob Tita and Costas Paris write.

In Iowa, a company with an unproven record in the U.S. steel industry is developing what will be one of the largest and most expensive steel mills in the country. In Philadelphia, a $5 billion shipyard project needs more space for shipbuilding, and faces challenges attracting more customers beyond its owner, South Korea's Hanwha.

Trump praised Mesabi Metallics' plan to invest $15 billion in the Iowa steel plant. Building it will require Mesabi to find people with the technical and management know-how for a steel business it hasn't been in before, though its parent company, Essar Group, built and operated steel mills in India.

Hanwha Philly aims to boost production to 20 ships a year from just two. The yard has doubled its workforce to 2,500 over the past two years. But the current order book beyond a Hanwha order consists of three containerships for Hawaii-based Matson at $330 million each-twice the price of a mega vessel built in South Korea or China.

Number of the Day

1,055,086

Total loaded container imports, in 20-foot equivalent units, that entered the ports of Los Angeles and Long Beach in September, up 24% from the same month last year and the busiest-ever month for the neighboring ports.

Energy Logistics

The logistics arm of U.A.E. oil-and-gas giant Adnoc is in talks to acquire a big stake in HEA Energy, a deal that would value the energy marine-services company at up to $3 billion, the Journal's Ben Dummett writes.

According to people familiar with the situation, the discussions involve Adnoc Logistics & Services, a unit of Abu Dhabi National Oil Co., taking either a large minority or controlling stake in HEA, also based in Abu Dhabi. The talks are advancing but could still fail to turn into a deal, the people said.

Adnoc L&S supports offshore drilling projects and operates more than 100 ships used to transport crude oil, LNG and refined products globally. It is flush with cash as the Iran war sent charter rates surging in its shipping business. A stake in closely held HEA would bolster the U.A.E.'s footprint in offshore oil and gas services, extending Adnoc L&S's reach geographically including in the North Sea and the U.S.

-- Oil shipments through the Strait of Hormuz fell sharply at the end of last week, Kpler data show, with confirmed flows of 2 million barrels on Saturday, down from 6.7 million on Friday and 22.8 million on Thursday. (WSJ)

-- Saudi Arabia plans to expand its oil-pipeline capacity by 40% to avoid the Strait of Hormuz within two to three years. (Bloomberg)

Quotable

"Irrespective of whether U.S. importation of Russian diesel is legal, it may not be particularly material to U.S. price relief." ClearView Energy Partners analysts, in a note to clients

In Other News

-- Ukrainian President Volodymyr Zelensky said Russian strikes hit Ukrainian energy infrastructure after President Trump declared an energy ceasefire. (WSJ)

-- Delta is pushing back plans to launch nonstop service between Atlanta and Riyadh, Saudi Arabia, after several fatal strikes at the city's airport. (WSJ)

-- Albertsons is seeking at least $8 billion from Kroger in a Delaware lawsuit following their failed grocery merger. (WSJ)

-- Volkswagen Group vehicle deliveries fell 14% from a year earlier to 1.89 million in the third quarter. (WSJ)

-- BMW group vehicle deliveries fell in the third quarter as continuing challenges in China offset growth in Europe and the U.S. (WSJ)

-- Melrose Industries said its GKN Aerospace unit reached a $125 million settlement with authorities in California relating to a chemicals case, and it expects to restart operations at the site this quarter. (WSJ)

-- The U.K.'s Maritime and Coastguard Agency warned that GPS jamming and spoofing in busy shipping regions means satellite navigation can't be relied on everywhere. (Splash247)

-- Auto-parts maker Hyundai Transys is investing nearly $560 million to expand its manufacturing in West Point, Ga. (WTVM)

-- The South Korean containership Panstar Acro arrived in Busan on Sunday after completing a 50-day voyage through the Arctic to Europe and back on the Northern Sea Route. (The Maritime Executive)

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.

Forwarded this email by a friend? Sign up here >

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