The Norwegian government has unveiled ambitious plans for the world's first ever tunnel for large ships.

If the plans are put into action, the Stad Maritime Tunnel will enable cargo-carrying vessels to avoid a treacherous route along the south-west coast - an area that is renowned for high winds and unpredictable seas.

There have been mixed reports about how much the project will cost, but some news providers believe the budget could stretch to 1.7 billion kroner (£193 million).

Work is expected to start in 2018 (if the scheme gets the green light) and it will take around four years to complete.

"The project will help increase safety and navigability," the Norwegian government said in a statement.

European shipping firms have been having a tough time of things of late, as problems in the eurozone and the generally shaky global economy have weighed on consumer demand.

The New York Times recently reported that as many as half of cargo ships are carrying debts and banks are finding it increasingly hard to justify investing in the sector.