Wilbur Ross: Shipping to rebound in 2014

Starting next year, the shipping market will improve, which will result in increased investments, says billionaire and major investor Wilbur Ross in an interview with Bloomberg.

Less ships are being ordered than in the past, overcapacity is declining, which is why the shipping market will have improved by as early as next year, says Wilbur Ross, who has a lot of money invested in shipping.

“We’re going to do a lot more in shipping even than we have. Shipping has a great oversupply of vessels that came from over-ordering a few years back. We think 2014 may be when it turns around,” says Wilbur Ross to Bloomberg.

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