Shipping news: Caxton catches cargo fever

Sat Apr 1, 2006

Forget the political firestorm surrounding U.A.E.-based Dubai Ports World's failed bid to take over operations of New York's harbor and other major U.S. ports. Whatever the fallout of the nixed Dubai deal, a continued willingness of countries to outsource seemingly fixed assets like ports underscores big opportunities for investors aiming to ride the wave of rising global trade.

Mind you, direct port plays aren't readily available for hedge funds that want to buy "Made in U.S.A." names in the public markets. In fact, many authorities are private and are more readily accessible via real estate deals or REITs. That's too bad, because non-U.S. hedge funds have done well by dropping anchor in international plays. For example, the U.K.'s Children's Investment Fund late last year floated about $18 million to grab an 11.4% stake in Ximaen International Port Co., the...

ISSN: 2151-1845 / CDC10004H


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