The European Union Emissions Trading System has moved to the forefront of considerations by management at New York-listed Pangaea Logistics Solutions in discussions with cargo interests and decisions on further fleet renewal.

That was the word from senior executives on Thursday as TradeWinds visited Pangaea headquarters in Newport, Rhode Island, during a day featuring belated memorial services for company founder Ed Coll and a celebration of the outfit’s 25th anniversary.

While chief executive Mark Filanowski said the International Maritime Organization’s Carbon Intensity Indicator (CII) regime also is firmly on the radar, EU emissions trading has moved into pole position as regards imminent decision-making.