Private-equity and hedge funds are accumulating shipping debt at the fastest pace since they began buying the risky loans from banks two years ago, raising prospects of the firms eventually owning the vessels.
South Korea’s won rose the most in more than a week and government bonds advanced after a shipbuilder received an order and U.S. payrolls data eased concern the Federal Reserve will accelerate its stimulus cuts.
Saudis driving F-150 pickup trucks and Chinese coveting Jeep sport-utility vehicles mean more automobiles are filling up ships leaving U.S. ports, boosting revenue for vessel operators including Wilh. Wilhelmsen ASA.
Royal Dutch Shell Plc, General Electric Co. and a company co-founded by T. Boone Pickens are planning investments in natural-gas-powered shipping as record U.S. output spurs the merchant fleet to use a new fuel.
Daewoo Shipbuilding & Marine Engineering Co. said A.P. Moeller-Maersk A/S exercised options to build 10 more container ships worth 2.01 trillion won. The vessels, which can each carry 18,000 20-foot containers, will be delivered by May 2015, the Seoul-based company said today in a regulatory filing.
Buyers in China, the second-biggest corn consumer, may halt purchases from the U.S. as quarantine officials reject more shipments with a non-approved genetically modified variety，said Yigu Information Consulting Ltd.