Pangaea Logistics Solutions Ltd. (“Pangaea” or the “Company”), a global provider of comprehensive maritime logistics solutions, in a press release announced it has purchased a vessel to add to its operating fleet.
About the new vessel
Addition of Supramax brings Pangaea fleet to 20 ships. The new ship is to be delivered to Pangaea in early 2019. The ship was purchased in the second hand market for $13 million.
“This 2009 Japanese built 53,000 dwt dry bulk vessel, with 30 ton cranes and grabs, fits perfectly in our operating fleet, and will support our clients’ dry-bulk cargo requirements,” said Ed Coll Pangaea’s Chief Executive Officer.
“The ship, to be named Bulk Spirit, is very efficient on draft and fuel consumption, important attributes for our trades and to address new marine fuel requirements in 2020, when the cost of low sulphur fuel used on ships is expected to become more expensive. Built with Oshima Shipbuilding quality and performance, delivery of Bulk Spirit to our fleet will make about half of our fleet holding the valuable Oshima brand. Daily, we search for value in our purchase decisions, and this one fits the bill,” added Ed Coll.
About Pangaea Logistics Solutions Ltd
Pangaea Logistics Solutions Ltd. provides logistics services to a broad base of industrial customers who require the transportation of a wide variety of dry bulk cargoes, including grains, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.
The Company addresses the transportation needs of its customers with a comprehensive set of services and activities, including cargo loading, cargo discharge, vessel chartering, and voyage planning.
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Source: PR Newswire
