Niche dry cargo specialist Pangaea Logistics Solutions has snapped up two 2016-built supramaxes for $56.6m.
The deal with a seller that was not identified reduces Pangaea’s average fleet age and enlarges its size to 26 vessels, it said in a release of first-quarter earnings after the close trading on Thursday. Delivery is expected in the third quarter.
The buys highlighted yet another profitable quarter for the New York-listed shipowner, which reported adjusted net income of $6.6m,
