Pangaea Logistics Solutions Announces the Delivery of the 1A Ice-Class Panamaxes Nordic Olympic and Nordic Odin
February 23 2015 - 8:30AM
Business Wire
Pangaea Logistics Solutions, Ltd. (“Pangaea” or
the “Company”) (NASDAQ:PANL) announced today the delivery of the
Nordic Olympic and the Nordic Odin, both 76,180 dwt 1A ice-class
panamax dry bulk carriers. The Company took delivery of both
vessels from Oshima Shipbuilding Co. Ltd. Financial terms were not
disclosed.
(Photo: Business Wire)
The Nordic Olympic, which was delivered on
February 6, 2015, is currently on a sixty-day repositioning charter
carrying coal from British Columbia to Poland. The Nordic Odin,
which was delivered February 13, 2015, is currently on a thirty-day
charter also carrying coal from the Russian Pacific to Japan.
“We are pleased to announce the delivery of the
sister ships Nordic Olympic and Nordic Odin, further expanding our
leadership position in the ice-class segment,” said Ed Coll, CEO of
Pangaea Logistics Solutions. “Pangaea’s operational excellence and
commitment to environmental safety in the ice-class trade continues
to position our Company as a preferred partner for moving cargo
through these increasingly important trade routes.”
Pangaea currently owns and operates seven
ice-class vessels, and is one of a select few operators with access
to routes through both the Northern Sea Route and the Northwest
Passage.
About Pangaea Logistics Solutions,
Ltd.
Pangaea Logistics Solutions Ltd. provides
logistics services to a broad base of industrial customers who
require the transportation of a wide variety of dry bulk cargoes,
including grains, pig iron, hot briquetted iron, bauxite, alumina,
cement clinker, dolomite, and limestone. The Company addresses the
transportation needs of its customers with a comprehensive set of
services and activities, including cargo loading, cargo discharge,
vessel chartering, and voyage planning. Learn more at
www.pangaeals.com.
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INVESTOR:Prosek PartnersThomas
Rozycki, 212-279-3115 x208Managing Directortrozycki@prosek.com
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