Pangaea Logistics acquires dry bulk vessel Bulk Prudence for $26.6M cash

Pangaea Logistics Solutions Ltd.

Acquired 61,000 dwt Ultramax vessel built in 2014 for $26.6 million cash.
Vessel to be renamed Bulk Prudence, expected delivery in June 2023.
Bulk Prudence will be the 25th owned vessel in Pangaea's fleet.
Company operates 50 vessels total including short-term charters.
CEO cites strategic focus on maximizing TCE rates with newer, high-quality vessels.

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