Pangaea Logistics Solutions and M.T. Maritime Management Announce Agreement to Combine Fleets of Dry Bulk Vessels in All-Stock Transaction
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 23 2024
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Source: Newsfilter
Merger Announcement: Pangaea Logistics Solutions Ltd. has entered into a definitive agreement to merge with M.T. Maritime Management, acquiring fifteen handy-size dry bulk vessels valued at approximately $295 million, which will expand Pangaea's fleet by nearly 60% to a total of 41 vessels.
Strategic Growth and Integration: The merger is expected to enhance operational efficiency and profitability, allowing Pangaea to better meet customer needs while leveraging the expertise of MTM's experienced team, ultimately positioning the company for continued growth in the dry bulk logistics market.
Analyst Views on SFL
Wall Street analysts forecast SFL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SFL is 11.00 USD with a low forecast of 11.00 USD and a high forecast of 11.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 8.470
Low
11.00
Averages
11.00
High
11.00
Current: 8.470
Low
11.00
Averages
11.00
High
11.00
About SFL
SFL Corporation Ltd. is a Bermuda-based company, which is primarily engaged in the ownership and operation of vessels and offshore related assets, and involved in the charter, purchase, and sale of assets. The Company is involved in ship ownership and chartering, with a diversified asset base across maritime, shipping, and offshore sectors. Its assets include approximately 18 tankers, 15 dry bulk carriers, 29 container vessels, two drilling rigs, and seven car carriers. Its vessels include SFL Yangtze, SFL Yukon, SFL Sara, SFL Kate, SFL Humber, SFL Hudson, Arabian Sea, Thor Highway, Odin Highway, Maersk Pelepas, Maersk Phuket Maersk, Linus, SFL Puma, SFL Panther, Semi-submersible, SFL Albany, SFL Fraser, among others. It also holds partial ownership in approximately four leased-in container vessels. Its subsidiaries include SFL Management AS, SFL UK Management Ltd, SFL Management (Bermuda) Limited, SFL Management (Singapore) Pte. Ltd., among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
