Seward & Kissel Represents Pangaea Logistics Solutions and M.T. Maritime Management in Connection with the Merger of their Dry Bulk Fleets
January 14, 2025
In December 2024, Pangaea Logistics Solutions Ltd. (Nasdaq: PANL), a global provider of comprehensive maritime logistics solutions, completed the combination of its fleet of dry bulk vessels with the 15-vessel fleet of Strategic Shipping Inc. (“SSI”) managed by its affiliate M.T. Maritime Management. Consideration for the SSI vessels, valued at $271 million, was in the form of Pangaea common stock representing 27.6% of Pangaea’s outstanding shares. Seward & Kissel is pleased to have represented Pangaea Logistics Solutions and M.T. Maritime Management in connection with this maritime logistics and transportation industry M&A transaction.
Pangaea Logistics Solutions is a US-based maritime logistics and transportation company utilizing its expertise to service a broad base of customers who require the transportation of a wide variety of dry bulk cargoes. M.T. Maritime Management provides marine transportation services, owning and operating chemical and product tankers while also offering ship and crew management.
Seward & Kissel LLP (www.sewkis.com) is a leading New York law firm, originally established in 1890, offering legal advice emphasizing business, financial and commercial law and related litigation.
Press releases issued by Pangaea Logistics Solutions regarding this transaction may be found here and here.
The Seward & Kissel deal teams for this transaction was led by Jim Abbott, Keith Billotti, Edward Horton and Nick Katsanos.
Related Attorneys
James E. Abbott
(212) 574-1226
abbott@sewkis.com
Keith J. Billotti
(212) 574-1274
billotti@sewkis.com
Edward S. Horton
(212) 574-1265
horton@sewkis.com
Nick Katsanos
(212) 574-1382
katsanos@sewkis.com