Amazon Shipping is back: Amazon’s shipping service for external deliveries has restarted its services in the US, after pausing operations during the pandemic, the Wall Street Journal(WSJ) reports. The service handles packages sold on Amazon’s website and other platforms, and can ship packages independently for businesses only if they sell their products on Amazon’s platform.

India’s top refiner Indian Oil has made a payment for oil from the UAE in INR for the first time, Reuters reported. The transaction was for the purchase of 1 mn barrels of oil from the UAE’s state-owned Adnoc. This follows talks between the Reserve Bank of India and the UAE Central Bank on developing INR-AED trade as a means to boost trade and simplify customs procedures.

South Korea’s STX to spin off shipping subsidiary: South Korean trading firm STX will spin off its shipping and logistics firm, tentatively dubbed STX Green Logis, ahead of a listing on the stock exchange next month, The Korea Herald reported. The shares will be divided 80:20 between STX and STX Green Logis. For every 100 shares, shareholders will receive 23 shares in STX Green Logis and 77 shares in STX. The spin-off will allow STX to focus on trading raw materials, while the new entity will focus on the shipping and logistics business and chartering, STX said.

ALSO WORTH KNOWING-

  • Russian drone attacks last week damaged grain silos and warehouses in the Ukrainian port of Reni on the Danube river, an important wartime route for Ukraine’s food exports. (Reuters)
  • Apple has kicked off production on its iPhone 15 in Tamil Nadu in a bid to diversify its supply chain away from China. (Bloomberg)
  • Taiwanese container player Evergreen has acquired a 20% stake in Rotterdam’s Euromax terminal for EUR 72.5 mn. (Splash)
  • India has slapped a 40% tax on the export of onions as Modi’s government scrambles to keep domestic food prices in check in the face of a 15-month-high surge in inflation. (Circular, pdf)
  • Bankrupt US trucking giant Yellow will offload its real estate to EstateExpress Linesfor USD 1.3 bn to help settle the company’s outstanding debts. (Wall Street Journal)
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