All questions

Current developments

i Recent cases

There are no recent cases specifically related to financing of ships, aircrafts or rolling stock.

ii Developments in policy and legislation

In 2018 the Norwegian Financial Supervisory Authority drafted a consultation memorandum and a proposal for amendments in Norwegian legislation to implement the rest of the Capital Requirements Regulation (CRR) and the Capital Requirements Directive (CRD IV). The proposed amendments to the legislation have not yet been passed.

On 7 December 2017, the group of governors and heads of supervision of the Basel Committee adopted a global standard for capital adequacy. The provisions that are laid down will most likely affect prospective capital adequacy in Norway as well, including, inter alia, a new standard for credit risk with an increased degree of risk sensitivity and a new output floor equivalent to 72.5 per cent of the calculation basis.

iii Trends and outlooksShipping

Norway maintains its position as one of the largest shipping nations in the world. The number of ships sailing under the Norwegian flag has increased, and the Norwegian International Register has gained considerable strength over the past year. The average age of the Norwegian fleet continues to drop, indicating strong fleet renewal, and the Norwegian fleet has also grown in deadweight tonnes over the past year.

Many Norwegian shipowners have a strong focus on developing sound environmentally friendly solutions as well as autonomous navigation solutions. Such initiatives are supported by governmental strategies, and shipowners believe this focus on technology will give them a competitive advantage in the international sphere.

The offshore supply segment has seen a sharp downturn since 2015. Revenues have decreased substantially, and many shipowners have a considerable part of their fleet laid up. Few are optimistic about a rapid recovery, and the consensus is that a new round of restructuring within this segment will be necessary. Consolidations have already taken place, and further consolidation is expected.


The recent expansion of Oslo airport is expected to facilitate continued growth in capacity and activity in the Norwegian aviation industry. SAS has registered an increased part of its fleet in the Norwegian Civil Aviation Registry.

During 2018, one of the world's largest airline groups, International Airlines Group (IAG), submitted proposals to acquire the majority of the shares in Norwegian Air Shuttle. However, on 24 January 2019, IAG announced that it did not intend to make an offer. As of March 2019, Norwegian Air Shuttle is carrying out a fully underwritten rights issue of 3 billion kroner and has decided to sell a portion of its fleet, to strengthen its financial position.


In connection with new projects and developments, public–private partnerships have been considered, but have in the past failed to materialise.

However, a public–private partnership within railway passenger traffic was initiated for the first time in 2018, as the British railway operator Go-Ahead won the tender to operate the distance Oslo-Stavanger.

Other distances within goods and passenger traffic will in the near future be subject to competitive tendering, and will potentially have a material effect on the organisation and range of players in the market.