After launching an armada of junk bonds with the help of commercial banks, the global shipping industry seems to be reversing its course.

At least two shipping companies say they will probably default on their junk bond payments, and a third has called its bonds for 75% of the price at which they were issued. Experts say the industry is likely to remain depressed, at least for the rest of the year.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.