2010 could be year of elimination for shipping companies

Danish shipping market analysts warn against overly optimistic expectations for the market in 2010 based on developments in the first few weeks of the year, Logistics Finland reports. Sveral major companies have seen booming share value, for example A.P. Møller - Mærsk's share has risen 19% and Torm's 31%. Dan Togo, shipping analyst at Handelsbanken warns that increased capacity on the market due to new ships, could lead to falling rates. At the same time Henrik Drusebjerg, share strategist at Handelsbanken points to positive export/import figures from China as a promising factor for the shipping industry. Jan Fritz Hansen, deputy director of the Danish Shipowners' Association (Dansk Rederiforening) sees signs that the industry is exiting the crisis but forecasts a number of companies to disappear in 2010.

(Source: Transport Weekly)