Shipping's endless thirst for capital is slaking itself at the high-yield well, a Clarksons report shows, as debt issuance is running almost triple the pace of new equity issuance.
High-yield bond issuance has reached $4.4bn this year, says Clarksons Platou credit researcher Nicholas Gower in a report, the highest level since 2014.
Gower says most of the new issuance was to refinance existing debt.
