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

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.