NEWPORT,
R.I., June 26, 2023 /PRNewswire/ -- Pangaea
Logistics Solutions Ltd. ("Pangaea" or the "Company") (Nasdaq:
PANL), a global provider of comprehensive maritime logistics
solutions, today announced that it has been selected to join the
broad-market Russell 3000® Index at the conclusion
of the 2023 Russell indexes annual reconstitution, effective after
the U.S. market opens on June 26,
2023, according to a preliminary list of additions posted
May 19.
FTSE Russell determines membership for its Russell indexes
primarily by objective, market-capitalization rankings and style
attributes. Russell indexes are widely used by investment
managers and institutional investors for index funds and as
benchmarks for active investment strategies. Approximately
$12.1 trillion in assets are
benchmarked against Russell's US indexes. Russell indexes are part
of FTSE Russell, a leading global index provider.
"Pangaea is honored to join the Russell
3000® Index," stated Mark Filanowski Pangaea's
Chief Executive Officer. "Our integrated shipping logistics
model continues to deliver consistent, above-market returns,
contributing to long-term value creation for our
shareholders. "Our inclusion within the Index is an important
milestone for our entire team, one that will serve to build
awareness around the Pangaea growth story, while increasing our
exposure to new investor audiences."
For more information on the Russell 3000® Index and
the Russell indexes reconstitution, go to the "Russell
Reconstitution" section on the FTSE Russell website.
ABOUT PANGAEA LOGISTICS SOLUTIONS LTD.
Pangaea Logistics Solutions Ltd. (Nasdaq: PANL) provides
logistics services to a broad base of industrial customers who
require the transportation of a wide variety of dry bulk cargoes,
including grains, pig iron, hot briquetted iron, bauxite, alumina,
cement clinker, dolomite, and limestone. The Company addresses the
transportation needs of its customers with a comprehensive set of
services and activities, including cargo loading, cargo discharge,
vessel chartering, and voyage planning. Learn more at
www.pangaeals.com.
INVESTOR RELATIONS CONTACTS
Gianni Del Signore
Chief Financial Officer
401-846-7790
Investors@pangaeals.com
Noel Ryan or Stefan Neely
Vallum Advisors
PANL@val-adv.com
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SOURCE Pangaea Logistics Solutions Ltd.