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Bulk logisitc solutions5/27/2023 ![]() ![]() ![]() Other than most of its peers, the company carries a wide variety of commodities: Trading during the ice seasons has provided superior profit margins, rewarding the company for its investment in specialized vessels and the expertise it has developed working in harsh environments. Ice class trading includes service in ice-restricted areas during both the winter (Baltic Sea and Gulf of St. Moreover, the company is a leader in the ice class niche. In addition, the company focuses on backhaul cargoes to reduce ballast days and increase expected earnings for well-positioned vessels. The company’s COAs typically extend for a period of one to five years, although some extend for longer periods. COAs can either have a fixed rate or a market-related rate. Unlike most of its peers, Pangaea doesn't exclusively focus on the usual voyage or time charters but also on so-called "Contracts of Affreightment" ("COAs").ĬOAs are agreements providing for the transportation between specified points for a specific quantity of cargo over a specific time period but without designating specific vessels or voyage schedules, thereby allowing flexibility in scheduling since no vessel designation is required. Pangaea Logistics Solutions ( NASDAQ: PANL) or "Pangaea" is a Bermuda-based dry bulk shipping company with somewhat unique characteristics.
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