On August 14, 2017, the Annual Meeting of Shareholders (the “Annual Meeting”) of Pangaea Logistics Solutions Ltd. (the “Company”) was held. At the Annual Meeting, 35,533,255 common shares representing 35,533,255 votes were represented in person or by proxy. These shares represented a quorum. The matters presented to shareholders for vote at the Annual Meeting and the voting tabulation for each such matter were as follows:

1. The election of two (2) directors by holders of common shares, each to hold office until the 2020 annual shareholders' meeting.

About PANGAEA LOGISTICS SOLUTIONS LTD. (NASDAQ:PANL)

Pangaea Logistics Solutions, Ltd. is a holding company. The Company is a provider of seaborne drybulk transportation services. The Company services a range of industrial customers who require the transportation of a range of drybulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone. The Company addresses the transportation needs of its customers by undertaking a set of services and activities, including cargo loading, cargo discharge, vessel chartering, voyage planning and technical vessel management. The Company uses a mix of owned and chartered-in motor vessels to transport over 18.3 million deadweight tons (dwt) of cargo to approximately 100 ports across the world, averaging over 40 vessels in service. The Company’s owned fleet includes eight Panamax drybulk carriers, four Supramax drybulk carriers and two Handymax drybulk carriers. Its vessels include Nordic Orion, Nordic Odyssey and Bulk Trident.