More accessible building loan guarantees for shipyards

In accordance with the Government’s forthcoming Maritime Strategy, the Ministry of Trade, Fisheries and Industry (MTFI) has modified the requirement for 20 percent up-front payment to the yard before delivery.

- This is a real improvement. We view this decision very positively, says Mr. Roy Reite, President & CEO of the Vard shipbuilding group to Dagens Næringsliv daily newspaper 2 May.

- More available financing boosts the international competitiveness of Norwegian yards. This is needed in today’s demanding market. A robust shipbuilding industry is important not least for small and medium-sized companies, says Ms. Solveig Frøland, Head of Department at GIEK.

Press release from the Ministry (in Norwegian)