Shipping industry forecasts a tough year ahead

Freight rates in the dry cargo shipping segment have taken a major dip since September 2008. Day rates currently flucturate around USD 5,000 (EUR 3,742.96) compared to USD 200,000 a year ago. Danish shipping companies are forecast a tough year ahead but according to Torben Janholt, chairman of the Danish Shipowners' Association (Dansk Rederiforening) the Danish shipping industry is well equipped to meet these difficulties. While Janholt forecasts are wave of bankruptcies to hit foreign shipping industries he expects the Danish industry to fare relatively well, Logistics Finland reports.

Source: American Shipper