The 55-meter barge Karin Hoj and the 90-meter Scot Carrier were sailing off the island of Bornholm when they collided in fog and darkness.
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The area was searched by nine vessels and a helicopter, while the barge was towed to shallower waters for a thorough and safe hull investigation by Swedish divers.
The chances of surviving unprotected in the Baltic Sea temperatures are slim, but there remained hope that the couple had survived in an air pocket inside the barge's hull. Meanwhile, Swedish authorities announced that one person was found dead on the ship's hull, while the other was still missing.
Swedish prosecutors said investigations were underway to determine alleged offenses such as gross negligence in maritime traffic, causing death by negligence and marine intoxication. The Danish Meteorological Institute stated that the fog was not dense and that the conditions were not unusual for the time of year.
Two cargo ships collide in the Baltic Sea.
The Danish Defense Joint Operations Center (COC) stated that it is not presumed that the crew of the Karin Hoj, had used lifeboats.
"I can confirm that there has been an accident, but I do not know the circumstances," said Soren Hoj, managing director of Rederiet Hoj, owner of the Karin Hoj.
There is a lot of maritime traffic in the waters of Sweden and Denmark, yet few reports of collisions between vessels.