Wilbur Ross Orders Four Supertankers in Extended Oil Bet

Wilbur Ross, the investor who’s made billions betting on on-out-favor industries, is expanding his bet on shipping by purchasing supertankers for the first time.

Ross, a turnaround financier and chairman of WL Ross & Co., ordered four very large crude carriers due in 2016 and 2017 in a joint venture with AWilhelmsen AS, an Olso-based shipping company, he said at a conference in New York today.

Diamond S Group Inc., a Greenwich, Connecticut-based company controlled by Ross, also ordered four Suezmax tankers with options for four more due in 2016 and 2017, he said.
Source: Bloomberg