Evaluating the impacts of the global financial crisis and Covid-19 on shipping bonds

Abstract

This dissertation examines whether the Global Financial Crisis (2008) or Covid-19 Pandemic (Great Lockdown) (2020) had direct effects on the yield to maturity, amount raised, and term to maturity in respect to bonds issues by shipping companies around the world, and also identifies the determinants of these 3 shipping bond characteristics for the period between Jan 2000 and June 2021 by examining 1,023 newly issued bonds (cross-sectional) by 176 different worldwide shipping companies.