Pangaea Logistics Solutions Ltd. has appointed Paul M. Leand, Jr. to its Board of Directors as a Class III director, effective immediately. Mr. Leand brings over two decades of experience advising companies and investors in the maritime shipping industry, serving as the Managing Director and Chief Executive Officer of AMA Capital Partners.
The appointment of Mr. Leand reflects Pangaea's ongoing commitment to maintaining a highly qualified, deeply experienced board. This move is part of the Company's efforts to reinforce its commitment to shareholder value creation.
Mr. Leand was appointed pursuant to a Cooperation Agreement entered into by the Company and Strategic Shipping Inc., which contains certain customary terms, including standstill restrictions and voting commitments.
Pangaea Logistics Solutions Ltd., a global provider of comprehensive maritime logistics solutions, is listed on Nasdaq under the ticker symbol PANL. The company provides seaborne dry bulk logistics and transportation services as well as terminal and stevedoring services, catering to a broad base of industrial customers requiring the transportation of various dry bulk cargoes.
For further information about Pangaea Logistics Solutions Ltd., visit www.pangaeals.com. The market has reacted to these announcements by moving the company's shares -0.99% to a price of $7.02. Check out the company's full 8-K submission here.
