Pangaea Logistics Solutions Ltd. Appoints Paul M. Leand, Jr. to its Board of Directors

Rhea-AI Summary

Pangaea Logistics Solutions (Nasdaq: PANL) announced on November 28, 2025 the immediate appointment of Paul M. Leand, Jr. as a Class III director to its Board of Directors. Mr. Leand brings over two decades of maritime shipping advisory experience and is the managing director and CEO of AMA Capital Partners, a merchant banking partnership focused on transportation, energy and offshore industries.

The appointment was made pursuant to a Cooperation Agreement between Pangaea and Strategic Shipping Inc., which contains customary terms including standstill restrictions and voting commitments. The Agreement will be filed as an exhibit to a Form 8-K with the U.S. Securities and Exchange Commission.

Positive

• Board addition: Paul M. Leand, Jr. joined as Class III director on 11/28/2025
• Industry expertise: 20+ years advising maritime shipping companies and investors
• Strategic fit: Leand's AMA Capital Partners background complements board capabilities

Negative

• Governance limits: Cooperation Agreement includes standstill restrictions and voting commitments
• Disclosure pending: Agreement details will only be available after Form 8-K exhibit filing

News Market Reaction

+0.57%

1 alert

+0.57% News Effect

On the day this news was published, PANL gained 0.57%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Reality Check

Price: $7.14 Vol: Volume 257,603 is below t...

normal vol

$7.14 Last Close

Volume Volume 257,603 is below the 20-day average of 334,095 (relative volume 0.77x). normal

Technical Price $7.07 is trading above the 200-day MA at $5.08 and 4.14% below the 52-week high.

Peers on Argus

PANL gained 2.1% while key peers like ASC, ESEA, SB, and GNK showed declines bet...

PANL gained 2.1% while key peers like ASC, ESEA, SB, and GNK showed declines between roughly 0.5–1.9%, and ECO was nearly flat, indicating a stock-specific reaction rather than a broad marine shipping move.

Historical Context

5 past events · Latest: Nov 28 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 28	Board appointment	Positive	+0.6%	Added experienced maritime financier as Class III director via Cooperation Agreement.
Nov 06	Q3 2025 earnings	Positive	-1.0%	Reported Q3 net income, higher revenue and EBITDA with dividend and asset sales.
Oct 31	Earnings call setup	Neutral	-1.6%	Announced Q3 2025 results release date and conference call logistics.
Sep 17	CEO succession	Neutral	+1.1%	Disclosed CEO retirement and COO promotion to President, CEO, and director.
Aug 07	Q2 2025 earnings	Negative	+1.7%	Reported Q2 revenue growth but net loss and lower TCE rates despite fleet expansion.

Pattern Detected

Earnings headlines have shown mixed follow-through, with one profitable quarter sold off and a loss quarter bought, while management and governance updates have seen modestly positive or muted reactions.

Recent Company History

Over the last several months, Pangaea reported contrasting quarterly results, with Q2 2025 showing a net loss and Q3 2025 returning to net income and higher revenue. The company continued dividends, vessel sales, and buybacks while preparing for a CEO transition effective January 1, 2026. Today’s board appointment via a Cooperation Agreement with Strategic Shipping Inc. fits into an ongoing pattern of active capital allocation and governance adjustments alongside fleet and leadership changes.

Market Pulse Summary

This announcement adds an experienced maritime finance executive to PANL’s board under a Cooperation...

Analysis

This announcement adds an experienced maritime finance executive to PANL’s board under a Cooperation Agreement with Strategic Shipping Inc., including standstill restrictions and voting commitments. It follows recent earnings reports, vessel transactions, and a planned CEO transition effective January 1, 2026. Investors may watch how this director’s involvement and the agreement’s governance terms interact with future capital allocation, fleet strategy, and subsequent SEC filings on Form 8‑K and 10‑Q.

Key Terms

cooperation agreement, standstill restrictions, form 8-k

3 terms

cooperation agreement financial

"Mr. Leand was appointed pursuant to a Cooperation Agreement (the "Agreement")"

A cooperation agreement is a formal contract between two or more organizations that lays out who will do what, how resources and responsibility are shared, how benefits or costs are divided, and how disputes or exits are handled. Like two chefs agreeing on a shared recipe and kitchen duties, it matters to investors because it can create new revenue paths, shift costs or risks, affect who controls key assets or technologies, and change a company’s future growth prospects.

standstill restrictions financial

"The Agreement contains certain customary terms, including certain standstill restrictions"

Standstill restrictions are agreements or legal limits that pause or limit certain actions by creditors, shareholders, or counterparties—such as demanding repayment, selling large blocks of shares, or launching takeover moves—for a set period. Like pressing a temporary pause button in a dispute or negotiation, they matter to investors because they affect liquidity, the timing of potential exits, and the balance of control and risk while parties work toward a resolution.

form 8-k regulatory

"will be filed with the U.S. Securities and Exchange Commission as an exhibit to the Current Report on Form 8-K."

A Form 8-K is a report that companies file with the government to share important news quickly, such as changes in leadership, major business deals, or financial updates. It matters because it helps investors stay informed about significant events that could affect the company's value or stock price.

AI-generated analysis. Not financial advice.

NEWPORT, R.I., Nov. 28, 2025 /PRNewswire/ -- Pangaea Logistics Solutions Ltd. ("Pangaea" or the "Company") (Nasdaq: PANL), a global provider of comprehensive maritime logistics solutions, today announced the appointment of Paul M. Leand, Jr. to the Company's Board of Directors as a Class III director, effective immediately.

Mr. Leand has over two decades of experience advising companies and investors in the maritime shipping industry. He is the Managing Director and Chief Executive Officer of AMA Capital Partners, the only merchant banking partnership in the United States exclusively focused on the transportation, energy and offshore industries.

"We are pleased to add Paul's deep industry expertise and insights to our Board of Directors," said Richard du Moulin, Chairman of Pangaea's Board of Directors. "His experience advising companies and investors in the maritime shipping industry complements the capabilities of our Board of Directors and reinforces our commitment to shareholder value creation. This appointment reflects Pangaea's ongoing commitment to maintaining a highly qualified, deeply experienced Board."

"I am honored to join Pangaea's Board of Directors," said Mr. Leand. "I look forward to working with my fellow directors and the management team to build on the Company's momentum and deliver sustained value for shareholders."

Mr. Leand was appointed pursuant to a Cooperation Agreement (the "Agreement") entered into by and between the Company and Strategic Shipping Inc. The Agreement contains certain customary terms, including certain standstill restrictions and voting commitments. The Agreement will be filed with the U.S. Securities and Exchange Commission as an exhibit to the Current Report on Form 8-K.

ABOUT PANGAEA LOGISTICS SOLUTIONS LTD.
Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) and its subsidiaries (collectively, "Pangaea" or the "Company") provides seaborne dry bulk logistics and transportation services as well as terminal and stevedoring services. Pangaea utilizes its logistics expertise to service a broad base of industrial customers who require the transportation of a wide variety of dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone. The Company addresses the logistics needs of its customers by undertaking a comprehensive set of services and activities, including cargo loading, cargo discharge, port and terminal operations, vessel chartering, voyage planning, and vessel technical management. Learn more at www.pangaeals.com.

Investor Relations Contacts

Gianni Del Signore		Noel Ryan and Stefan Neely
Chief Financial Officer		Vallum Advisors
401-846-7790		PANL@val-adv.com
Investors@pangaeals.com

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SOURCE Pangaea Logistics Solutions LTD

FAQ

Who was appointed to Pangaea Logistics Solutions' board on November 28, 2025 (PANL)?

Paul M. Leand, Jr. was appointed as a Class III director effective immediately.

What experience does Paul M. Leand, Jr. bring to PANL's board?

He has over 20 years advising companies and investors in the maritime shipping industry and is CEO of AMA Capital Partners.

Was Paul M. Leand's appointment tied to any agreement for PANL (PANL)?

Yes; the appointment was made pursuant to a Cooperation Agreement between the company and Strategic Shipping Inc.

Will the Cooperation Agreement for PANL be publicly filed and where?

The Agreement will be filed as an exhibit to the company's Current Report on Form 8-K with the U.S. SEC.

Do the Cooperation Agreement terms impose restrictions on PANL shareholders or governance?

The Agreement contains standstill restrictions and voting commitments as disclosed in the announcement.