This study endeavors to explore the world of financing for shipping from the point of view of the current state of affairs in respect to the new alternative sources available to facilitate obtaining the necessary capital which propels one of the main global enterprises. By new alternative sources it refers to any available financial source apart from that provided by the banking sector. In particular, debt and equity capital sources are profoundly analyzed and evaluated by depicting the pros and cons involved with a view to render assistance to the reader to select the best financial alternative source which will cater for his particular needs. The paradox in the shipping financing world is that due to the present circumstances - recession - the banks hesitate to commit themselves to large loans and one would expect a reaction from the point of view of new alternative sources, which is not the case. Probably due to the fact that a stagnated economy affects equity and debt sources equally whether it is the banking sector or the new alternative sources. It has to make clear that it is outside the scope of this project to indicate the best alternative source of raising the necessary funds to finance a venture since in the complex domain of the shipping industry many a factor should be taken into consideration before the ship manager seeking a loan, the assets of his company and, of course, the volume of the funding in question. The highly volatile shipping environment is determined by the ever changing financial markets and those operating within it are at the mercy of it. Global developments both political as well as financial can sometimes create an utterly risky situation making extremely difficult the navigation through the dire straits of making the right choice. This research indicated that basically bank lending for the shipping industry will continue to play an important role since it provides up to 80% of the capital requirements in shipping. The remaining 20% is what it deals with here. Securing a loan within in this 20%, despite some disadvantages involved, it can augment returns both for the borrower as well as the lender allowing for more leverage, higher returns on equity, lower operating costs and more importantly perhaps it releases vital funds necessary for other deals. Some changes in the structure of the company will be unavoidable i.e. consolidation, transparency of corporate structure and the provision of long term shipping services which on the other hand leaves assets intact.