Specialising in maritime services

Global leaders in ship finance, classification, insurance, shipbroking and maritime operations characterise the Oslo region's maritime service sector. Add to this leading education, reasearch and development and you have one of the strongest and most complete service and support clusters in the world.

World leading maritime finance

Norway is today a leading ship financer with Oslo-based DnB NOR and Nordea as the two leading organisers of syndicated shipping loans. The attractiveness of Oslo as a centre of ship finance is proved by Stockholm-based Nordea’s choice to locate their shipping headquarter in Oslo and Danske Bank’s recent choice to establish a shipping division at their Oslo branch of Fokus Bank, a wholly-owned subsidiary of Danske Bank.

In 2001, the International Maritime Exchange (IMAREX) was established in Oslo as the first professional freight derivatives exchange for the global maritime industry within freight of oil, refined products, and other bulk commodities. Oslo Børs (Bourse) is also a natural ally of the maritime cluster. Its position as a leading market for shares in maritime enterprises has evolved along with the shipping activities. It is also attractive as an international shipping exchange, with companies like the Greek-owned Tsakos Energy Navigation listed since 1994.

20% of global insurance market

The market for ship insurance is relatively concentrated with a few players operating on a global scale. Norwegian companies hold approximately 20 percent of the world market. One of the leading insurance companies (P&I clubs) of the world, Skuld, operates globally from its headquarter in Oslo. Other leading international insurance companies based in the Oslo region are Willis Sev Dahl, Polaris Insurance Brokers and Aon Grieg.

"The maritime cluster in Norway is a fundamental and stable basis for maintaining and developing insurance products and services that are demanded by both national and international clients".

Tore Forsmo, former Managing Director of Cefor (Central Union of Underwriters), Oslo, now director of Competence and Recruitment in the Norwegian Shipowners’ Association.

World class ship brokers

Shipbrokers are the mediators in four markets – freight, sales and purchase, newbuilding and demolition – linking sellers and buyers of ships, and ship owners to charterers and yards. Oslo alone has approximately 180 registered brokerages. Though most of these are smaller firms, the two largest, Fearnleys and R.S Platou, are widely known and respected, and both are among the world’s largest ship broking groups.

High quality legal services

Legal services in the maritime sector are routinely required for contentious and non-contentious work relating to a wide range of matters including charter parties, shipbuilding, finance, commodities, energy, insurance, cargo, collision, salvage, general average and pollution. Vogt og Wiig and Wiikborg Rein are two of the best-known of Oslo law firms specialising in maritime law and transactions. Also, the Scandinavian Institute of Maritime Law at the University of Oslo is one of the leading academic milieus in the world within maritime legal issues, and an important strength of the cluster. Another vital actor is Nordic Defence Club.

16% of classification market

DNV (Det Norske Veritas) is one of the oldest and most important actors in Oslo’s maritime cluster. The company is one of the four large ship classification companies of the world, and its’ market s