Movers and SHAKERS
Pangaea Logistics (PANL)
Co-Founder and CEO Goes on Medical Leave
Pangaea Logistics Solutions Ltd and its subsidiaries provide seaborne drybulk transportation services. It transports drybulk cargos including grains, coal, iron, ore, pig, iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone. The firm's services include cargo loading, cargo discharge, vessel chartering, voyage planning and technical vessel management. The company derives all of its revenues from contracts of affreightment, voyage charters and time charters. Its strategy depends on focusing on increasing strategic contracts of affreightment, expanding capacity and flexibility by increasing its owned fleet and increasing backhaul focus and fleet efficiency.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Co-Founder and CEO on medical leave. Yesterday morning, an 8-K was filed stating that Co-Founder and CEO Ed Coll has gone on medical leave for treatment of a sudden, non-COVID related medical issue. Once the medical issue is treated, he intends to return to PANL in the same capacity. We hope for a speedy recovery and look forward to his return.
Interim CEO named. Mark Filanowski, who currently serves as COO and a Board Member, will assume the duties of CEO on an interim basis. We view this move as positive from a continuity standpoint and see no change in operation and/or strategy ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.