Pangaea Logistics Solutions Ltd. is a comprehensive maritime logistics and transportation company focused on the dry bulk sector. The company's core business model revolves around providing end-to-end ocean freight services to industrial customers, transporting a wide array of dry bulk cargoes including grains, coal, iron ore, bauxite, cement clinker, and fertilizers. Pangaea generates revenue primarily through vessel chartering, voyage operations, and long-term contracts of affreightment (COAs). In addition to its shipping operations, the company provides terminal and stevedoring services, operating a network of marine terminals across the U.S. Gulf Coast, U.S. East Coast, and Canada to support fully integrated supply chains.
Pangaea operates a fleet of approximately 45 to 60 vessels daily, of which over 40 are owned or partially owned, primarily consisting of Supramax, Panamax, and Handysize bulk carriers. A key competitive advantage for Pangaea is its market-leading position in the high ice-class sector. The company controls a significant portion of the world's large dry bulk vessels with Ice-Class 1A designation, allowing it to service ice-restricted areas such as the Baltic Sea, the Gulf of St. Lawrence, and the Arctic Ocean. This specialized capability enables Pangaea to command premium Time Charter Equivalent (TCE) rates compared to broader market indices. Geographically, the company operates globally with offices in Newport, Athens, Copenhagen, and Singapore, serving a diverse international client base.
