The business model of New York-listed Pangaea Logistics Solutions has never been an easy one to explain.
That and the company’s closely held status from a 2014 IPO meant the stock was often overlooked in favour of simpler, flashier and larger dry bulk peers.
Pangaea is getting more attention these days after it pulled off one of 2024’s more significant shipping mergers: the $271m stock-based acquisition of 15 handymax bulkers from the fleet of private Connecticut owner MT Maritime Management (MTM).
