When private equity billionaire Wilbur Ross Jr. signed on to be President Donald Trump's commerce secretary, he agreed to divest millions of dollars in assets, NBC News reported.
But one asset Ross plans to keep is his stake in Diamond S Shipping Group Inc., one of the world's largest owners and operators of medium-range tanker vessels.
In a new administration full of successful businessmen dealing with a complex web of conflict-of-interest concerns, Ross' part ownership of Diamond S Shipping stands out.
A Center for Public Integrity examination of Diamond S Shipping's operations found its vessels sail under Chinese flags, even as Ross is being tapped to take an unusually muscular role shaping U.S. trade policy under President Trump's "America First" mantra.
Ross has said he doesn't believe the shipping investment presents a conflict, NBC News reported.