Pangaea Logistics gains after raising stake in Nordic Bulk Holding

Pangaea Logistics Solutions

28/09/2020 15:43

** Transport services provider's shares  PANL.O  rise 6% to
$2.50    
    ** PANL says it bought an additional one-third stake in
Nordic Bulk Holding Co (NBHC) for $22.5 mln, taking its interest
in co to 66.7%  urn:newsml:reuters.com:*:nPnblxGP5a
    ** Deal gives PANL access to NBHC's six ice-class panamax
bulk vessels, boosting its position in the niche ice-class
shipping market
    ** PANL also expects 4 newbuilding 1-A ice class
post-panamax ships to be delivered next year
    ** PANL shares down 19.80% YTD
    

 (Reporting by Lasya Priya M)
 ((LasyaPriya.M@thomsonreuters.com;))