Pangaea Logistics Solutions, Ltd (PLS) has taken delivery of two ultramax ice-class 1C dry bulk carriers from Oshima Shipyard in Japan.

PLS has purchased its joint venture partner's 50 per cent interest in Nordic Bulk Ventures Holding Ltd (NBVH), which will give PLS full control of both new ships. PLS transports a wide variety of dry bulk cargoes, including cement clinker, limestone, dolomite, grain, pig iron, hot briquetted iron, bauxite and alumina.

"The delivery of Bulk Destiny and Bulk Endurance completes our current new building programme of six ice-class bulk carriers," said Edward Coll, chairman and CEO of Pangaea Logistics Solutions Ltd.

"The new ships were immediately employed to service our cargo portfolio and, with their ice-class designations, nicely complement our existing ice-class fleet of eight vessels, bringing our ice-class fleet to 10 ships."