Maersk reported a 20.6% increase in revenues in 4Q 2018 which included a mixture of better shipping rates and first time inclusion of Hamburg Sud. Global volumes excluding Hamburg Sud actually fell slightly despite strength in the U.S.-inbound business which saw a 13.0% year over year rise in Maersk Line volumes and 20.0% for Hamburg Sud. Yet, growth will likely slow rapidly – indeed, U.S. volumes fell 0.8% year over year in January. CEO Soren Skou has flagged “considerable uncertainties” for 2019 due to the risk of “further restrictions on global trade” as well as raising concerns about...