Pangaea Expanding Fleet with Secondhand Supramax

BulkerIllustration; Source: PxHere under CC0 Creative Commons license

US-based shipping company Pangaea Logistics Solutions is to expand its fleet to 22 vessels with a Supramax bulker.

The company purchased the 2011-built vessel at a price of USD 14.1 million.

The unit would be added to Pangaea’s operating fleet in September 2019.

The 58,000 dwt dry bulk unit “fits well into our core fleet and trading activities, and will give us another tool to serve our client’s demanding cargo needs,” Ed Coll, Pangaea’s Chief Executive Officer, said.

“This ship, to be named Bulk Friendship, is another step in our effort to renew our owned fleet with high quality and efficient tonnage as we approach the new low sulphur fuel requirements in 2020.”

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