Rhode Island-based niche specialist Pangaea Logistic Solutions has decided to declare two options for ice-class bulkers at China State Shipbulding’s Guangzhou Shipyard International, market sources tell TradeWinds.
Like the two original post-panamax units ordered earlier this year, the 95,000-dwt option vessels are expected to cost about $76m en bloc.
Market sources tell TradeWinds that declaring the options became possible after Pangaea was able to expand an existing 10-year contract to haul iron ore from Baffinland Iron Mines in northern Canada.
