Bank casts doubt on future of top Norwegian offshore carriers

One of the major lenders to Norwegian offshore carriers, Sparebank 1 SR-Bank, is no longer certain that Norway's four largest supply carriers will make it through the current crisis, reports Dagens Næringsliv.

Photo: Modelfoto/Colourbox

Norwegian bank Sparebank 1 SR-Bank is no longer confident that the country's four largest carries in the sector servicing the offshore industry will be able to survive the crisis, reports Norwegian business daily Dagens Næringsliv.

The bank's lending portfolio to offshore carriers amounts to USD 840 million, and the bank's head of offshore vessels, Stig H. Eriksen, has worked intensely on these loans over the last few months. Altogether, nine of the carriers the bank has lent money to have been refinanced, and now Eriksen fears that time is about to run out for the carriers which have not yet been refinanced.

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