November 6 - Danish company J. Poulsen Shipping has joined forces with the HBC Group based in Singapore and Hamburg.

The cooperation enables the parties to jointly execute current opportunities on a short-term basis for both market and fleet activities. On a long-term basis, the agreement between the parties may lead to a full merger.

"HBC has no particular experience with project cargo," admitted Jens von Husen, co-founder and managing director at HBC Hamburg. "However, through numerous industry talks it has become clear that the multipurpose and bulk markets are intertwined."

Anders Poulsen, ceo of J. Poulsen Shipping, commented on the cooperation: "Even after years of tumultuous markets, the German shipping industry still controls the majority of multipurpose vessels. 

"Furthermore, the German shipping industry is rather much a closed shop.  For a Danish operator it is therefore of fundamental importance to have a reliable and long-term partner who is an insider of the German maritime industry."

Poulsen will continue at the helm of J. Poulsen Shipping.