Pangaea Logistics Solutions Ltd. Awarded First Dry Bulk "Silent E" Certification

Rhea-AI Summary

Pangaea Logistics Solutions announces Nordic Nuluujaak as the first dry bulk carrier to receive the Class Silent (E) Notation by DNV

Positive

• Nordic Nuluujaak has been awarded the Class Silent (E) Notation by DNV, making it the first dry bulk carrier to receive the certification
• The Silent (E) Notation is given to vessels with a demonstrated ability to reduce environmental noise emissions
• Pangaea's newest vessels are designed to operate with lower carbon emissions and reduce underwater noise, reducing their overall environmental impact

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• None.

NEWPORT, R.I., Oct. 12, 2023 /PRNewswire/ -- Pangaea Logistics Solutions Ltd. ("Pangaea" or the "Company") (Nasdaq: PANL), a global provider of comprehensive maritime logistics solutions, today announced that its 95,000 dwt. post- panamax dry bulk carrier, Nordic Nuluujaak, has been awarded the Class Silent (E) Notation by DNV, making it the first dry bulk carrier to ever receive the certification. The Silent (E) Notation is a select designation given to vessels with a demonstrated ability to effectively reduce environmental noise emissions, consistent with a focus on protecting sensitive marine ecosystems. Nordic Nuluujaak was built in 2021 at Guangzhou International Shipyard, along with three sister ships for which Silent (E) notation is under analysis.

"Every part of our oceans where we operate is environmentally important, particularly within the ecologically sensitive habitats where our ice class vessels transit, such as the Arctic Ocean," said Mark Filanowski, Pangaea's Chief Executive Officer. "Our newest vessels are not only designed to operate with lower carbon emissions, they also materially reduce underwater noise, positioning us to further reduce our overall environmental impact. With our industry looking for ways to mitigate ecological impact, hidden noise impacting underwater wildlife should be considered, as well. We are happy we took the first step in working toward Silent (E) notation for these four vessels." 

ABOUT PANGAEA LOGISTICS SOLUTIONS LTD.

Pangaea Logistics Solutions Ltd. (Nasdaq: PANL) provides logistics services to a broad base of industrial customers who require the transportation of a wide variety of dry bulk cargoes, including grains, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. The Company addresses the transportation needs of its customers with a comprehensive set of services and activities, including cargo loading, cargo discharge, vessel chartering, and voyage planning. Learn more at www.pangaeals.com.

INVESTOR RELATIONS CONTACTS

Gianni Del Signore
Chief Financial Officer
401-846-7790
Investors@pangaeals.com

Noel Ryan or Stefan Neely
Vallum Advisors
PANL@val-adv.com

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SOURCE Pangaea Logistics Solutions LTD

FAQ

What is the Class Silent (E) Notation?

The Class Silent (E) Notation is a designation given to vessels that effectively reduce environmental noise emissions

What is the significance of Nordic Nuluujaak receiving the Class Silent (E) Notation?

Nordic Nuluujaak is the first dry bulk carrier to receive this certification, highlighting its commitment to reducing environmental impact

How are Pangaea's newest vessels designed to reduce environmental impact?

Pangaea's newest vessels are designed to operate with lower carbon emissions and reduce underwater noise emissions