The European Shipping Industry faces a huge capital requirement over the next decade as a result of increasing trade and ageing fleets. This growth in demand is juxtaposed with a contraction in the number of banks willing to support the industry and a general tightening of credit facilities. Consequently, companies have been forced to access the capital markets for equity and debt. The difficulties experienced particularly in the bond markets have lead to premature dismissal of this relatively new form of finance. This paper seeks to explore the suitability of bond finance and finds that it is largely dependent on the perception of the maritime industry by the investment community.