SHANGHAI (Bloomberg) ? Shipping companies raised $4.2 billion in share sales worldwide this year, almost triple the amount in 2004, according to JPMorgan Chase & Co.

Operators raised $1.5 billion in initial public offerings and secondary share sales in 2004 and $912 million in 2003, James Mak, senior vice president of transport investment banking at JPMorgan, said at the World Shipping (China) Summit in Shanghai today.

?We saw more and more shipowners tap into the equity markets to raise capital,? Mak said. His figure didn?t include the $634 million raised by Bergesen Worldwide Gas ASA, the world?s no. 1 gas-shipping company, in Oslo last week.