Other than most of its peers, the company carries a wide variety of commodities: Trading during the ice seasons has provided superior profit margins, rewarding the company for its investment in specialized vessels and the expertise it has developed working in harsh environments. ![]() Ice class trading includes service in ice-restricted areas during both the winter (Baltic Sea and Gulf of St. Moreover, the company is a leader in the ice class niche. In addition, the company focuses on backhaul cargoes to reduce ballast days and increase expected earnings for well-positioned vessels. ![]() The company’s COAs typically extend for a period of one to five years, although some extend for longer periods. COAs can either have a fixed rate or a market-related rate. Unlike most of its peers, Pangaea doesn't exclusively focus on the usual voyage or time charters but also on so-called "Contracts of Affreightment" ("COAs").ĬOAs are agreements providing for the transportation between specified points for a specific quantity of cargo over a specific time period but without designating specific vessels or voyage schedules, thereby allowing flexibility in scheduling since no vessel designation is required. ![]() Pangaea Logistics Solutions ( NASDAQ: PANL) or "Pangaea" is a Bermuda-based dry bulk shipping company with somewhat unique characteristics.
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