Dry bulk owner Pangaea Logistics Solutions has signed a memorandum of agreement to acquire 12-year-old Imabari-built panamax Madeleine from Greek owner Goldenport for $14.2m.
The vessel will be renamed and utilised to support Canada’s Noranda Alumina and Noranda Bauxite on a long-term contractual basis.
Ed Coll, chief executive officer of Pangaea, commented: “At Pangaea, we are constantly evaluating opportunities to enhance our capabilities, ensuring that we continue to provide best-in-class service to all of our partners and execute our strategic priorities.
“We are thrilled with the addition of this vessel as it will directly support the growth of our relationship with Noranda, serving as a dedicated resource to the company’s shipping routes.”
