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Last week, Cramer recommended the dry bulk shipping sector because of its exposure to China and the rest of the global growth story. But what about the container ships, another component of the shipping industry?
Gerry Wong, CEO of Seaspan [SSW
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], told Cramer that the container industry is growing in lockstep with the other shippers. Seaspan has seen demand increase 10% over 10 years, he said. “As long as China produces all the good that everybody else needs, we are in business.”
Wong also said that Seaspan gets paid fixed rates – what the company makes for every day its ships are at sea – which insulates its from volatility in the freight market and any potential downturn in market rates.
The “easy money” is still with the dry bulk names, Cramer said, but he’s warming up to the container ships, too. He sees “a good one in Seaspan.”
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