Nordic Bulk: US-based owner strengthens foundation

US-based Pangea Logistics Solutions acquired full ownership of Nordic Bulk Carriers in August. A long-awaited plan that creates a solid basis for the carrier, CEO Mads Boye Petersen tells ShippingWatch.

Nordic Bulk Carriers
Photo: Nordic Bulk Carriers

It has for a long time been the plan for US-based Pangea Logistics Solutions, through company Phoenix Bulk Carriers, to acquire full ownership of Nordic Bulk Carriers, one of the pioneer players on sailing the Northern and Western sea routes, explains CEO Mads Boye Petersen in a comment to ShippingWatch.

It was announced in August that Pangea had increased its stake in Nordic Bulk Carriers from 51 percent to 99.5 percent, which in effect means that Nordic Bulk Carriers is now a fully owned subsidiary of Pangea, whose portfolio in addition to the Danish carrier also includes Phoenix Bulk, Americas Bulk and Seamar.

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