Worst Offshore Slump Holds Key Lessons for Top Norway Banker
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Norway’s biggest bank is done comparing: The downturn in the country’s offshore services market has no precedent.
“No one has seen a worse offshore market than what we’re going through now,” Kristin Holth, head of shipping, offshore and logistics at DNB ASA, said in an interview at the Nor-Shipping conference outside Oslo on Tuesday. “It hasn’t been a regular downturn. In many ways, we’ve seen the collapse of an industry.”