PUBLIC DEBT AWARD – ASIA

Much to everyone’s surprise, 2009 was a bumper year for shipping bonds, particularly in Asia. With banks still largely on the sidelines, the bond market offers an effective avenue for shipping companies to raise big money. Based on Marine Money figures, total shipping bond volume in Asia reached a historical high in 2009, having risen 371% from USD 1.59 billion in 2008 to USD 7.49 billion last year. Clearly, the need for capital has never been more pronounced.

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