Nasdaq-listed maritime logistics solutions provider Pangaea Logistics Solutions Ltd. sealed a deal last month to sell the Bulk Xaymaca for $9.6m.

The company described the move to sell the 2006-built ship as part of its commitment to maintaining a modern, and efficient platform.

The delivery of the ship to its new owner is expected in the second quarter of 2026.

The sale follows the disposal in the fourth quarter of 2025 of another ship, the Bulk Freedom for $9.6m.

Pangaea said it continues to execute its fleet renewal strategy, selectively investing in modern assets to maximize time charter equivalent (TCE) performance, comply with evolving regulatory standards, and meet customer cargo requirements on demand.

“We remain committed to disciplined, returns-focused capital allocation, including sustainable return of capital, organic growth investment and ongoing fleet renewal,” said Mads Boye Petersen, president and chief executive officer of Pangaea Logistics Solutions. “Most recently, we entered an agreement to sell the Bulk Xaymaca for $9.6 million, with delivery expected in the second quarter of 2026.”

The company currently owns a fleet of 40 vessels, including the 76,561-dwt panamax Bulk Xaymaca. The Pangaea’s fleet comprises of 14 handymax, 8 supramax, 4 ultramax, 9 panamax, 4 post panamax and 1 barge.