Carriers tapping the bond market for capital

Given the state of traditional lenders in shipping, the bond market likely will be an active venue for shipowners to access capital.
Photo: Privat
Photo: Privat
BY BASIL KARATZAS, PRESIDENT, KARATZAS MARINE ADVISORS & CO., NEW YORK

For shipping, a capital-intense industry at a junction where its traditional spigots of financing – that is shipping banks – are shut for all practical purposes, the strength of the bond markets and investors’ appetite for even low quality credit should be considered manna from heaven.

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