Hyundai MM reported fourth quarter 2017 revenues that fell 6% on a year earlier. That reflects a marked slowdown in volume expansion (7% from 41% in the third quarter vs. a year earlier) and a 6% slide in average achieved rates. While that was better than the 10% drop in the third quarter it compares to a global rise in rates of 1%. That indicates continued fierce competition for Trans-Pacific business. While full profitability details aren’t available, the company returned to operating losses in the fourth quarter, likely bringing the run to 15 out of the past 20 quarters when the firm ...