22/05/2014at 14:43

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.

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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