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Norwegian offshore owners impacted by inflated market values

According to Vessels Value, leading offshore owners are feeling the impacts of overzealous valuations of the past. Because of today's offshore market conditions, asset values have suffered greatly, making vessel financiers worried about the prospects of recouping money lent to finance inactive offshore fleets. The market valuations are more than likely breaking mortgage covenants, and the write downs that are necessary are more significant because of the original generous valuations of these assets.

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