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A European perspective on bond finance for the maritime industry

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  • H. K. Leggate

Abstract

The European Shipping Industry faces a huge capital requirement over the next decade as a result of increasing trade and ageing fleets. This growth in demand is juxtaposed with a contraction in the number of banks willing to support the industry and a general tightening of credit facilities. Consequently, companies have been forced to access the capital markets for equity and debt. The difficulties experienced particularly in the bond markets have lead to premature dismissal of this relatively new form of finance. This paper seeks to explore the suitability of bond finance and finds that it is largely dependent on the perception of the maritime industry by the investment community.

Suggested Citation

  • H. K. Leggate, 2000. "A European perspective on bond finance for the maritime industry," Maritime Policy & Management, Taylor & Francis Journals, vol. 27(4), pages 353-362.
    • Handle: RePEc:taf:marpmg:v:27:y:2000:i:4:p:353-362
    DOI: 10.1080/030888300416540
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    Cited by:

    1. Alexandridis, George & Kavussanos, Manolis G. & Kim, Chi Y. & Tsouknidis, Dimitris A. & Visvikis, Ilias D., 2018. "A survey of shipping finance research: Setting the future research agenda," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 115(C), pages 164-212.
    2. Mitroussi, K. & Abouarghoub, W. & Haider, J.J. & Pettit, S.J. & Tigka, N., 2016. "Performance drivers of shipping loans: An empirical investigation," International Journal of Production Economics, Elsevier, vol. 171(P3), pages 438-452.
    3. Cullinane, Kevin, 2004. "1. Editorial: Key Themes In Shipping Economics Research," Research in Transportation Economics, Elsevier, vol. 12(1), pages 1-17, January.
    4. Su-Han Woo & Hee-Seok Bang & Sally Martin & Kevin X. Li, 2013. "Evolution of research themes in Maritime Policy & Management—1973--2012," Maritime Policy & Management, Taylor & Francis Journals, vol. 40(3), pages 200-225, May.
    5. Syriopoulos, Theodore C., 2007. "Chapter 6 Financing Greek Shipping: Modern Instruments, Methods and Markets," Research in Transportation Economics, Elsevier, vol. 21(1), pages 171-219, January.
    6. Kavussanos, Manolis G. & Tsouknidis, Dimitris A., 2014. "The determinants of credit spreads changes in global shipping bonds," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 70(C), pages 55-75.

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