AmericasDry Cargo

Pangaea continues to grow fleet with another secondhand buy

Nasdaq-listed bulker owner Pangaea Logistics Solutions has added to its fleet with the acquisition of a Japanese-built panamax bulker.

Pangaea paid $18.3m for the secondhand ship, which Splash understands is Kurushima Senpaku’s Robin Wind which was reported sold last week.

Ed Coll, CEO of Pangaea, commented: “This 2013 Toyohashi-built 78,000 dwt dry bulk vessel fits well into our core fleet and is expected to operate alongside the Bulk Pangaea and Bulk PODS in our Jamaican trade. We are happy to take another step in our effort to renew our owned fleet with high quality and efficient tonnage to provide our clients with best-in-class service. This ship, to be named Bulk Promise, will bring our owned fleet to 21 vessels after taking delivery of two ice class newbuild vessels expected in the second quarter.”

Last month, Pangaea added a Japanese ultramax bulker to its fleet, spending $16.45m on OMC Shipping’s 2013-built Orient Amabie. The company also has two newbuild post-panamaxes delivering imminently from China’s CSSC Guangzhou Longxue.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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