Wilbur Ross’s Next Big Investment Idea

Wilbur Ross's Next Big Investment Idea
Wilbur Ross's Next Big Investment Idea   

Shipping is the next growth commodity sector, billionaire investor Wilbur Ross said Wednesday on CNBC's "Fast Money."

"Ships are a strange kind of commodity because they're very lumpy, very big individual units, but they're commodities," he said.

Ross said that it was a simple supply-demand play.

"Rates have come down around 80 percent," he said, adding that the industry had seen over-orders for seafaring vessels until the economic slowdown.

"That stopped," he said. "They haven't really been ordering for a while. And now because of the low rates, there's a lot more scrappage."

Ross said that the industry was poised for growth through next year.

"So, I think in 2013, they'll start to come more into balance and you'll finally have recovery sometime in 2014," he added.

Trader disclosure: On May 1, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU; Steve Grasso is long AAPL; Steve Grasso is long ASTM; Steve Grasso is long BA; Steve Grasso is long BAC; Steve Grasso is long GDX; Steve Grasso is long GOOG; Steve Grasso is long LF; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long MJNA; Steve Grasso is long PXD; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is funds long AAPL; Steve Grasso is funds long EMC; Steve Grasso is funds long MSFT; Steve Grasso is funds long HPQ; Steve Grasso is funds long NEM; Steve Grasso is funds long ZNGA; Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long C; Karen Finerman is long JPM; Karen Finerman is long TGT; Karen Finerman is long GOOG; Karen Finerman is long JCP LONG PUTS, SHORT DEBT; Karen Finerman is short SPY; Karen Finerman is short IWM; Karen Finerman is short MDY; Anthony Scaramucci is long AAPL; Anthony Scaramucci is long WFC; Anthony Scaramucci is long YHOO; Anthony Scaramucci is long GOOG.