Pangaea Logistics Solutions chair Richard T. du Moulin to retire at year-end

Pangaea Logistics Solutions, a company listed on the Nasdaq Stock Market under the ticker PANL, has announced that its board chair Richard T. du Moulin will retire at the end of the year, on December 31, 2026. The decision was made public in a press release filed with the Securities and Exchange Commission.

Mr. du Moulin has been a director of the company since its initial public offering in 2014 and has a long-standing connection with Pangaea Logistics Solutions, spanning over 25 years. Upon his announcement of retirement on November 3, 2026, Claus Boggild, a founder and lead independent director, expressed gratitude for Mr. du Moulin's service, praising his extensive knowledge, foresight, and integrity throughout their time together. The board commended Mr. du Moulin's contributions and wished him well in his retirement.

Despite the impending departure of its chair, Pangaea Logistics Solutions has been reporting strong financial performance. In its latest quarter, the company surpassed Wall Street expectations, with adjusted earnings of $0.52 per share, significantly outperforming the anticipated $0.30. Revenue also exceeded projections, totaling $219.06 million, compared to the expected $210.03 million.

Management attributed this impressive quarter to a combination of factors, including higher freight rates, peak Arctic season activity, and improved performance in terminal and logistics operations. This represents a notable achievement for the company, highlighting its resilience and operational excellence.