The global shipping business is not for the fainthearted.
When the global trade is expanding, shipping companies make money hand over fist.
But when traffic slows, the shipping business is the picture of Darwinian ruthlessness.
As cash flows shrivel, shipping companies go bankrupt with remarkable regularity.
Almost like clockwork, shipping companies place orders for too many ships at the top of the trade cycle.
When the cycle turns, shipping companies are left servicing massive debt on fleets they can‚??t use.
So why would anyone ever want to risk money betting on global shipping?
Enter Wilbur Ross, one of Wall Street‚??s top contrarian investors.
After examining the sector carefully, Ross concluded that he could wring profits even as other investors ‚??abandon ship.‚?Ě
To read the rest of the article about a Trump cabinet member’s bet on global shipping, click here.
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