Ed Coll-led niche-market specialist Pangaea Logistics is boosting its fleet again through the acquisition of a secondhand supramax from the fleet of Japan’s K Line.

The Newport, Rhode Island-based company is acquiring the 58,700-dwt Nantong K (built 2011) as it continues to grow and modernise the fleet, market sources said today.

The sale price was not immediately available, but VesselsValue places a $13.82m