Addressing delegates at the Annual Offshore Support Journal Conference and Awards in London in February, Geir Sjurseth, managing director and global head of offshore finance at DVB Bank, gave a hugely optimistic appraisal of the offshore vessel market, but his analysis suggested that the market could be about to turn, or could even have done so already. Mr Sjurseth has often taken a seemingly contrarian view of the market and highlighted potential pitfalls when others saw only upsides, but he described the current market as one of the best he had ever known, with excellent conditions, a high oil price, high level of exploration and production, and stable interest rates. There are, he said, ample sources of financing and plenty of liquidity.
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