a) Owners look to bonds and equities, alternative financing options could replace traditional bank finance in the shipping markets. Maersk taps bond market for 750m. The container giant is to use the proceeds to refinance its bank debt and for general corporate purposes. Above are some of the headlines from shipping news that emerged in October 2009. Identify and assess various types of equities in shipping finance. b) Briefly describe the instruments that are usually utilised as security to finance the purchase of a new vessel.