Offshore

Norwegian creditor: New massive losses in store for offshore

2017 will be yet another tough year for Norwegian offshore, projects state guarantor Giek, warning of new massive losses for the sector this year, reports Dagens Næringsliv.
Photo: Farstad Shipping
Photo: Farstad Shipping
by SØREN PICO

2016 became a hard year for Norwegian offshore, and the same will be the case for 2017, projects the Norwegian Guarantee Institute for Export Credits, Giek, which last year increased its impairments to a record NOK 7.8 billion (USD 908 million), according to Norwegian business daily Dagens Næringsliv.

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