Skip to main content

Pangaea adds capacity with acquisition of dry bulk vessel

Published by , Editor
Dry Bulk,


Pangaea Logistics Solutions Ltd. has announced its acquisition of a 61 000 dwt dry bulk vessel in the second-hand market for US$26.6 million cash.

Built in 2014, this vessel, to be re-named Bulk Prudence, is expected to be delivered to Pangaea in June 2023, representing the 25th owned vessel in its fleet. The vessel is currently expected to enter into service immediately after delivery. Between its owned and short term chartered-in fleet, Pangaea currently operates 50 vessels in worldwide trades.

Mark Filanowski, Pangaea’s Chief Executive Officer, comments:

“The acquisition of the Bulk Prudence demonstrates our continued strategic focus on maximising TCE rates through a fleet of newer, high quality and well-maintained vessels, while providing our clients a consistent and efficient cargo transportation service.

“This vessel fits well into our core fleet, having served as a part of our chartered-in fleet in prior years, effectively serving the cargo transit requirements of our customers. We remain an opportunistic acquirer of high-quality, newer vessels that meet the stringent requirements of the global trades in which we operate, consistent with our disciplined approach to capital allocation.”

Read the article online at: https://www.drybulkmagazine.com/dry-bulk/27042023/pangaea-adds-capacity-with-acquisition-of-dry-bulk-vessel/

You might also like

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Supramax news US dry bulk news