AmericasDry Cargo

Pangaea Logistics Solutions signs $20m COA

New York: Pangaea Logistics Solutions, a NASDAQ-listed bulker operator with around 12 ships in its fleet, has scored a $20m five-year contract of affreightment to transport 2m tons of steel-related products. The first shipment is scheduled to commence in 2016 and the contract will provide a minimum of 570 cargo days. Vessels will be loading in the Gulf of Mexico and discharging in Central America.

“We are extremely pleased to announce this accretive COA at a time where broader market fundamentals are still facing significant headwinds,” said Ed Coll, Pangaea’s ceo.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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