The head of major tanker owner Ship Finance International Limited (SFI) believes that access to funding for the shipping industry has improved significantly in the last two months.

According to Ship Finance Management CEO Lars Solbakken, although the financing market had been “very challenging” since the end of last year, money appeared to have been more readily available since the end of April.

Solbakken was quoted saying at the Oslo Shipping Forum on Wednesday that “there was a big change in May and in the last few weeks, with phone calls from investment banks offering us $100 million.”

Solbakken is anticipating an increase in more accessible finance over the coming months, which could lead to more vessel sales, Lloyd's List reported.

“Everyone is looking for distressed assets,” he said.

According to Solbakken, although tanker and dry bulk ship values were down, the “best buys” would be in the box ship segment.

Solbakken did say, however, it was too early for SFI to buy ships, adding that the company is building its investment finance with the view to buying vessels later.

According to Lloyd's List, other speakers at the conference agreed. RS Platou CEO Peter Anker for example was quoted saying “all in all, I think shipping will self-correct quicker than we anticipate”.

Carl Steen, head of shipping and oil services at Nordea Bank Norge, was not so optimistic however.

“Some believe the financial crisis is over, but it is not,” he said.

New York-listed SFI, including newbuildings, currently owns a fleet of 68 vessels, including 33 VLCCs and suezmaxes, two chemical tankers, eight oil/bulk/ore vessels, 13 box ships, one dry bulk carrier, six offshore support vessels, two jack-up drilling rigs and three ultra-deepwater drilling units.

According to its website, its entire fleet is employed on medium or long term charters.