Rather than raise capital by selling fractional shares of themselves, i.e., issue stock, some companies borrow money by issuing bonds. Of course, some do both.
If my memory doesn’t fail me, companies like Teekay issued bonds. I owned them and made decent money. So I went looking this morning to see what there might be but got distracted by something else.
Many of the shippers also offer fat divs, which is also something I need to look into.