Hapag-Lloyd reported revenue growth of 8.6% on a year earlier in 3Q 2018. That was somewhat slower than peers Ocean Network Express (14.7%) and COSCO Shipping (19.4%) and reflects less ambitious volume growth. On China-U.S. lanes for example growth was just 4.4%. A lower-than-average reliance on China-outbound volumes at 17.7% of total U.S.-inbound traffic in the past 12 months should ensure revenues remain resilient to the effects of the widening U.S.-China trade war. More importantly though cost cutting resulting from the takeover of United Arab Shipping in 2017 offset a surge in fuel ...