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Pangaea linked to acquisition of Borealis bulker

US-based dry bulk owner Pangaea Logistics Solutions has added to its fleet of bulkers, according to brokers.

Advanced Shipping & Trading and Seasure Shipbroking are both reporting that Pangaea has handed over $19.9m to Borealis Finance for 2009-built panamax bulker Berlin. The vessel, built at Imabari’s Shin Kasado, comes fitted with a BWTS and a time charter attached through to March 2022.

Pangaea currently operates a fleet of some 50 dry bulk vessels, with 21 currently owned or partially owned.

The sale would leave Borealis with just one bulker left in its diverse fleet of ships.

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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