WHAT'S NEW

October 2017

Pangaea Announces a 100 Trip Milestone for the MV Bulk Patriot

Pangaea announced that it has completed its 100th voyage of the MV Bulk Patriot over a six-year period from 2011, in partnership with Noranda Bauxite and Alumina, the operating companies of New Day Aluminum LLC. The route, which represents the largest bulk volume on the Mississippi River, navigates from Noranda’s port at Discovery Bay, Jamaica, on the island’s north coast, to Noranda’s facility in Gramercy, Louisiana, just upriver from New Orleans, transporting approximately 63,000 tons of bauxite per voyage. The milestone is
a testament to the successful partnership these two firms have developed and maintained with the support of the Mid-Ship Marine, the global ocean freight brokering division of Mid-Ship Group LLC headquartered in New York.

 

“One hundred voyages is an important milestone and we are thrilled to be celebrating this with our great partners at Noranda,” said Ed Coll, Chairman and Chief Executive Officer of Pangaea Logistics Solutions. “Noranda has shown commendable commitment, dedication, and service in partnering with Pangaea, and we are proud of the fruitful relationship that has ensued. Looking ahead, we see ample opportunity amidst an improving rate environment and an upward trend in commodity prices, particularly in the price of iron ore. We are glad to be continuing to service this route with Noranda to the benefit of our valued customers.”

 

David D’Addario, Chairman and Chief Executive Office of Noranda, commented, “Today’s milestone with Pangaea and Mid-Ship reflects a continued commitment on all sides to deliver quality service along the Mississippi River, where our firms have teamed up to be the largest carrier of dry bulk. We look forward to continuing to strengthen the business for our facilities in Jamaica and Gramercy and look forward to future milestones and successful endeavors in our relationship with Pangaea and Mid-Ship.”

 

About Noranda Bauxite and Noranda Alumina

Noranda Alumina and Noranda Bauxite are, respectively, the U.S. based alumina refining and Jamaican bauxitemining assets that were acquired in late 2016 by the partners of DADA Holdings, an investment and management company based in Fort Lauderdale, FL. DADA makes control investments and manages companies in basic industries, such as metals and mining. Noranda Alumina produces smelter grade alumina (SGA) for the production of aluminum as well as chemical grade alumina (CGA) which is used in a wide array of industrial applications. Noranda Bauxite mines and ships bauxite for metallurgical and non-metallurgical applications globally.


About Mid-Ship

The Mid-Ship Group, headquartered in New York with offices in key maritime centers in the U.S. and across the international shipping market, is a third party service provider and a leader in dry bulk ocean freight and inland logistics. The company provides a full range of services covering the entire supply chain, providing our clients with a single point of management for their domestic and global cargo shipments. MID-SHIP’s global organization

provides our clients with a global competitive advantage through superior transportation services and dedicated operational follow-up.

 

 

 

March 10, 2017

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June 15, 2017

October 2017

Pangaea Logistics and Intrepid Shipping Compete in the 2017 SCI Mountain Challenge to Raise Funds for Mariners Worldwide

We had the pleasure of taking part in the Seamen's Church Institute's 2017 "Mountain Challenge" in Maine. This event serves as a large fund raiser to support MARINERS all over the world.  Our Teams "Pangaea" and "Pangaea/Intrepid" competed in the 2 day event raising $15,353 as of October 25, 2017. The entire event raised in total more that $315,066.98, surpassing it's $300K goal!

April 11, 2017

Pangaea Announces Retirement of Chief Financial Officer Tony Laura-

Appointment of New CFO Gianni Del Signore

NEWPORT, RI – April 11, 2017 - Pangaea Logistics Solutions, Ltd. (NASDAQ: PANL) ("the Company") today announced the retirement of Chief Financial Officer Anthony “Tony” Laura. Mr. Laura has been involved with the Company in various roles since its inception in 1996, and has been instrumental in the company’s growth. He will remain with the Company as a director and continues to be a major shareholder.

 

Mr. Laura will be replaced by Gianni Del Signore, who had previously served as Controller. During his seven-year tenure at Pangaea, Del Signore has worked closely with Mr. Laura in managing Pangaea’s overall finance function.  Prior to Pangaea, Del Signore worked with Ernst & Young for five years.  He holds an MBA from Bryant University and a BS in Accounting from Providence College.

 

Ed Coll, Chairman and Chief Executive Officer, commented, “Tony was an instrumental force in the early days of the company’s formation, expanding its reach with vessel acquisitions, forming joint ventures and attracting long term capital to grow the business. We thank him for his contributions and look forward to his continued involvement. Gianni has been a key member of our executive leadership team and brings an unmatched level of dedication which we are confident will lead to great success in his new role, and I’m excited to announce his appointment as Chief Financial Officer.”

 

“I am thrilled at the opportunity to continue advancing Tony’s achievements as I assume the role of Chief Financial Officer,” said del Signore. “I’m grateful for his leadership and impact and look forward to helping lead the company through its next growth stage.”

 

“My time at the Company has brought me a wealth of unforgettable memories,” said Laura. “I’d like to thank Ed for the opportunity to join this world-class team; my colleagues for their support and dedication; our partners, who are some of the smartest and most professional executives in our industry; and our shareholders, who have helped make Pangaea what it is today. I’m excited to see where Ed and

his team take this company next.”

 

 

March 31, 2017

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January 10, 2017

Pangaea Announces Appointment of New Chief Operating Officer

NEWPORT, RI - January 10, 2017 - Pangaea Logistics Solutions, Ltd. (NASDAQ: PANL) ("the Company"), today announced the appointment of Mark Filanowski to the role of Chief Operating Officer of the Company.

 

Mr. Filanowski, who has been a board member since the Company went public in October 2014, will assume immediately the newly created position in the Company.  Mr. Coll said, “For the last 18 months, Mark has been facilitating projects essential to our corporate strategy, including acquisition of the minority interest in our subsidiary Nordic Bulk Holding ApS and securing long-term financing for our newbuilding projects.  His experience will help to guide us through the next stage of Pangaea’s growth.”

 

Mr. Filanowski was previously a Senior Vice President and Chief Financial Officer of Marine Transport Corp., a NASDAQ listed company, prior to his involvement in the formation of Intrepid Shipping, LLC in 2002.  He has over 25 years of experience in shipping operations and finance.

 

Mr. Filanowski will remain on the Board of Directors of Pangaea as a non-independent director, and he will retain his existing ownership interests in Intrepid Shipping, LLC, a non-affiliated company which commercially manages two chemical parcel tankers and three handy bulk carriers, as well as his minority ownership interests in the same vessels.

 

 

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