Pangaea Logistics Solutions has extended a contract of affreightment (COA) for aluminum shipments worth a potential $350m.
The ten-year deal with an unnamed aluminum producer covers the shipment of 35mt of cargo through the Caribbean.
It said the extended contract will provide fulltime employment for three vessels, but it did not disclose the size of the vessels.
“This long-term contract extension demonstrates our ability to continue our momentum into the second half of 2015,” said chief executive Ed Coll.
“We will continue to seek out and secure profitable contracts that allow us to grow our business in a disciplined manner that positions us to generate attractive returns irrespective of the rate environment.”
