Shipping Hedge Fund Boss Says Industry Set for Another Boom Year
- ClarkSea shipping industry had highest year on record in 2022
- Lack of new ships, Chinese reopening set to boost demand
A container ship approaches the Yangshan Deepwater Port in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
A shipping hedge fund founded by a one-time ally of oil tanker billionaire John Fredriksen says the industry is set for another boom year because of the reopening of China’s economy and a lack of fleet expansion.
Tor Svelland, founder of Svelland Capital Ltd., a hedge fund that focuses on commodities and freight markets, says the ingredients are there for a strong year for the ships that keep the global economy running — possibly even a record one.