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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As submitted to the Securities and Exchange
Commission on December 31, 2014.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-</B></P>

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<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES SECURITIES AND EXCHANGE
COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 17pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form S-8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PANGAEA LOGISTICS SOLUTIONS LTD.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 32%; font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Bermuda</b></font><br>
<font style="font: 10pt Times New Roman, Times, Serif">(State or other jurisdiction of</font><br>
<font style="font: 10pt Times New Roman, Times, Serif">incorporation or organization)</font></td>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 30%; padding-right: 3.6pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>4412</b></font><br>
<font style="font: 10pt Times New Roman, Times, Serif">(Primary Standard Industrial</font><br>
<font style="font: 10pt Times New Roman, Times, Serif">Classification Code Number)</font></td>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-right: 3.6pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Not Applicable</b></font><br>
<font style="font: 10pt Times New Roman, Times, Serif">(I.R.S. Employer</font><br>
<font style="font: 10pt Times New Roman, Times, Serif">Identification Number)</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pangaea Logistics Solutions Ltd.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>109 Long Wharf</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Newport, Rhode Island 02840</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(401) 846-7790</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address, including Zip Code, and Telephone
Number, including Area Code, of Registrant&rsquo;s Principal Executive Offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pangaea Logistics Solutions Ltd. 2014 Share
Incentive Plan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Full titles of the plans)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Trudy Coleman</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pangaea Logistics Solutions Ltd.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>109 Long Wharf</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Newport, Rhode Island 02840</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(401) 846-7790</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">(Name, Address, including
Zip Code, and Telephone Number, including Area Code, of Agent for Service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>Copies to: </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Kirk A. Radke, Esq.</B></FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Willkie Farr &amp; Gallagher LLP</B></FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>787 Seventh Avenue</B></FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>New York, New York 10019</B></FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(212) 728-8000</B></FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-bottom: Black 1px solid">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0pt">Indicate by check mark
whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.
See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo;
in Rule 12b-2 of the Exchange Act. (Check one):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<tr style="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt; width: 27%"><font style="font: 10pt Times New Roman, Times, Serif">Large accelerated filer </font><FONT STYLE="font-family: Wingdings">&#111;</FONT></td>
    <TD STYLE="text-align: center; font-size: 10pt; width: 17%"><font style="font: 10pt Times New Roman, Times, Serif">Accelerated filer </font><FONT STYLE="font-family: Wingdings">&#111;</FONT></td>
    <TD STYLE="text-align: center; font-size: 10pt; width: 34%"><font style="font: 10pt Times New Roman, Times, Serif">Non-accelerated filer </font><FONT STYLE="font-family: Wingdings">&#120;</FONT></td>
    <TD STYLE="text-align: center; font-size: 10pt; width: 22%"><font style="font: 10pt Times New Roman, Times, Serif">Smaller reporting company </font><FONT STYLE="font-family: Wingdings">&#111;</FONT></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</td>
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</td>
    <TD STYLE="text-align: center; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">(Do not check if a smaller reporting<BR>
 company) </font></td>
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</td></tr>
</table>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1px solid; border-top: Black 3px double">Title of securities to be registered</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-top: Black 3px double; border-bottom: Black 1px solid">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-right: Black 1px solid; border-bottom: Black 1px solid; border-left: Black 1px solid; border-top: Black 3px double">Amount to be registered(1)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-top: Black 3px double; border-bottom: Black 1px solid">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1px solid; border-top: Black 3px double">Proposed<BR>
 maximum offering<BR>
 price per share</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-top: Black 3px double; border-bottom: Black 1px solid">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-right: Black 1px solid; border-bottom: Black 1px solid; border-left: Black 1px solid; border-top: Black 3px double">Proposed<BR>
 maximum<BR>
 aggregate offering <BR>
price</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-top: Black 3px double; border-bottom: Black 1px solid">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1px solid; border-top: Black 3px double">Amount of<BR>
 registration fee</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; font-size: 10pt; text-indent: -0.15pt; padding-left: 0.15pt; padding-bottom: 3px; border-bottom: Black 3px double">Common Shares, par value $0.0001 per share</TD><TD STYLE="width: 2%; font-size: 10pt; padding-bottom: 3px; border-bottom: Black 3px double">&nbsp;</TD>
    <TD STYLE="width: 18%; font-size: 10pt; text-align: center; border-right: Black 1px solid; border-bottom: Black 3px double; border-left: Black 1px solid">1,500,000</TD><TD STYLE="width: 2%; font-size: 10pt; padding-bottom: 3px; border-bottom: Black 3px double">&nbsp;</TD>
    <TD STYLE="width: 13%; font-size: 10pt; text-align: center; border-bottom: Black 3px double">4.81(2)</TD><TD STYLE="width: 2%; font-size: 10pt; padding-bottom: 3px; border-bottom: Black 3px double">&nbsp;</TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center; border-right: Black 1px solid; border-bottom: Black 3px double; border-left: Black 1px solid">7,215,000(2)</TD><TD STYLE="width: 2%; font-size: 10pt; padding-bottom: 3px; border-bottom: Black 3px double">&nbsp;</TD>
    <TD STYLE="width: 12%; font-size: 10pt; text-align: center; border-bottom: Black 3px double">$838.38(3)</TD></TR>
</TABLE>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 93%"><FONT STYLE="font-size: 10pt">Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;), this Registration Statement shall also cover any additional shares of the Registrant&rsquo;s common shares (&ldquo;<U>Common Share</U>&rdquo;) that become issuable under the plan set forth herein by reason of any stock dividend, stock split, recapitalization or other similar transaction. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Pursuant to Rule&nbsp;457(c)&nbsp;and (h)&nbsp;under the Securities Act, the proposed maximum offering price per share was determined based on the high and low prices of Pangaea Logistics Solutions Ltd.&rsquo;s Common Shares reported by the Nasdaq Capital Market on December 30, 2014.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Calculated by multiplying the proposed maximum aggregate offering price by 0.0001162</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXPLANATORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pangaea Logistics Solutions Ltd. has prepared this Registration
Statement in accordance with the requirements of Form&nbsp;S-8 under the Securities Act of 1933, as amended, or the Securities
Act, to register 1,500,000 shares of its common shares, par value $0.0001 per share, which we refer to as the Common Shares, that
are reserved for issuance in respect of awards to be granted, under the Pangaea Logistics Solutions Ltd. 2014 Share Incentive Plan,
which we refer to as the Plan.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART I </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE SECTION 10(a)
PROSPECTUS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.&#9;Plan Information.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 18pt; text-align: justify">The
documents containing the information required by Part I of Form S-8 are omitted from this Registration Statement in accordance
with Rule 428 under the United States Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;), and the instructions
to Form S-8. In accordance with the rules and regulations of the United States Securities and Exchange Commission (the &ldquo;<U>Commission</U>&rdquo;)
and the instructions to Form S-8, such documents are not being filed with the Commission either as part of this Registration Statement
or as prospectuses or prospectus supplements pursuant to Rule 424 however such documents will be delivered to participants in
the Plan as specified by Rule 428(b)(1) under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2.&#9;Registrant Information and Employee Plan Annual
Information.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 18pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
will furnish without charge to each person to whom the prospectus is delivered, upon the written or oral request of such person,
a copy of any and all of the documents incorporated by reference in Item 3 of Part II of this Registration Statement, other than
exhibits to such documents (unless such exhibits are specifically incorporated by reference to the information that is incorporated).
Those documents are incorporated by reference in the Section 10(a) prospectus. Requests should be directed to Pangaea Logistics
Solutions Ltd.,</FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">109 Long Wharf, Newport, Rhode Island 02840, Attention:
Chief Executive Officer; Telephone number (401) 846-7790.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE REGISTRATION
STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 3. INCORPORATION OF DOCUMETNS BY REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.25pt">We hereby incorporate by reference into
this Registration Statement the following documents previously filed by us with the Commission:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 54pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif">(a)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Our
                                                                                                                                                     Registration
                                                                                                                                                     Statement
                                                                                                                                                     on
                                                                                                                                                     Form
                                                                                                                                                     S-4
                                                                                                                                                     (File
                                                                                                                                                     No.
                                                                                                                                                     333-195910)
                                                                                                                                                     under
                                                                                                                                                     the
                                                                                                                                                     Securities
                                                                                                                                                     Act
                                                                                                                                                     of
                                                                                                                                                     1933,
                                                                                                                                                     as
                                                                                                                                                     amended,
                                                                                                                                                     originally
                                                                                                                                                     filed
                                                                                                                                                     with
                                                                                                                                                     the
                                                                                                                                                     Securities
                                                                                                                                                     and
                                                                                                                                                     Exchange
                                                                                                                                                     Commission
                                                                                                                                                     on
                                                                                                                                                     May
                                                                                                                                                     13,
                                                                                                                                                     2014,
                                                                                                                                                     as
                                                                                                                                                     subsequently
                                                                                                                                                     amended;
                                                                                                                                                     and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 54pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif">(b)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">The
                                                                                                                                                     description
                                                                                                                                                     of
                                                                                                                                                     the
                                                                                                                                                     Registrant&rsquo;s
                                                                                                                                                     common
                                                                                                                                                     stock
                                                                                                                                                     contained
                                                                                                                                                     in
                                                                                                                                                     the
                                                                                                                                                     Registrant&rsquo;s
                                                                                                                                                     registration
                                                                                                                                                     statement
                                                                                                                                                     on
                                                                                                                                                     Form
                                                                                                                                                     8-A
                                                                                                                                                     filed
                                                                                                                                                     on
                                                                                                                                                     December
                                                                                                                                                     30,
                                                                                                                                                     2014
                                                                                                                                                     (File
                                                                                                                                                     No.
                                                                                                                                                     001-36798)
                                                                                                                                                     under
                                                                                                                                                     the
                                                                                                                                                     Securities
                                                                                                                                                     Exchange
                                                                                                                                                     Act
                                                                                                                                                     of
                                                                                                                                                     1934,
                                                                                                                                                     as
                                                                                                                                                     amended
                                                                                                                                                     (the
                                                                                                                                                     &ldquo;<U>Exchange
                                                                                                                                                     Act</U>&rdquo;),
                                                                                                                                                     including
                                                                                                                                                     any
                                                                                                                                                     amendment
                                                                                                                                                     or
                                                                                                                                                     report
                                                                                                                                                     filed
                                                                                                                                                     for
                                                                                                                                                     the
                                                                                                                                                     purpose
                                                                                                                                                     of
                                                                                                                                                     updating
                                                                                                                                                     such
                                                                                                                                                     description.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">All documents, reports and definitive proxy
or information statements filed pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this Registration
Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities
offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by
reference into this Registration Statement and to be a part hereof from the date of filing of such documents with the Commission;
provided, however, that documents, reports and definitive proxy or information statements, or portions thereof, which are &ldquo;furnished&rdquo;
and not &ldquo;filed&rdquo; in accordance with the rules of the Commission shall not be deemed incorporated by reference into
this Registration Statement unless the Registrant expressly provides to the contrary that such document or information is incorporated
by reference into this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">Any statement contained in a document incorporated
or deemed to be incorporated herein by reference shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement herein or in any other subsequently filed document which also is or is deemed to be incorporated
by reference herein modifies or supersedes that statement. Any such statement so modified or superseded shall not constitute a
part of this Registration Statement, except as so modified or superseded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 4. DESCRIPTION OF SECURITIES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.3pt">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 5. INTEREST OF NAMED EXPERTS AND COUNSEL.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.3pt">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 6. INDEMNIFICATION OF DIRECTORS AND
OFFICERS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Exculpation and Indemnification</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 18pt; text-align: justify">The
Bermuda Companies Act permits the Registrant to indemnify its directors, officers, employees and agents, subject to limitations
imposed by the Bermuda Companies Act. The Registrant&rsquo;s Bye-laws require it to indemnify directors and officers to the full
extent permitted by the Bermuda Companies Act. The Registrant may enter into indemnification agreements with its officers and
directors that provide for indemnification to the maximum extent allowed under Bermuda law. Under Bermuda law, a company may indemnify
its directors and officers where the acts indemnified do not constitute fraud or dishonesty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Indemnification Agreements</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">The Registrant may enter into indemnification
agreements with each of its directors and officers and may enter into indemnification agreements with certain of its employees.
With specified exceptions, these agreements provide for the indemnification of such persons for related expenses and liabilities
incurred in connection with any action or proceeding brought against them by reason of the fact that they are or were serving
in such capacity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Merger Agreement Provisions</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 18pt; text-align: justify">Under
the terms of the Agreement and Plan of Reorganization (the &ldquo;Merger Agreement&rdquo;), dated as of April 30, 2014, by and
among Quartet Merger Corp. (&ldquo;Quartet&rdquo;), the Registrant, Quartet Merger Sub, Ltd., the Registrant&rsquo;s wholly-owned
subsidiary, Bulk Partners (Bermuda), LTD. (&ldquo;Bulk Partners&rdquo;) which was formerly known as Pangaea Logistics Solutions
Ltd., and the securityholders of Bulk Partners, the parties thereto agreed that the Registrant would</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(i) indemnify and hold harmless, to the extent Quartet was
obligated to indemnify and hold harmless such persons as of the date of the Merger Agreement to the fullest extent permitted by
applicable law, each present and former director, officer and special advisor of Quartet and the Registrant against any costs
or expenses (including reasonable attorneys&rsquo; fees), judgments, fines, settlements, losses, claims, damages or liabilities
incurred in connection with any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative
or investigative, arising out of matters existing or occurring at or prior to the closing of the merger, whether asserted or claimed
prior to, at or after the closing of the merger and (ii) include and cause to be maintained in effect in the Registrant&rsquo;s
(or any successor&rsquo;s) constitutional documents after the closing of the mergers provisions regarding the elimination of liability
of directors and officers and the indemnification of the indemnified parties that are no less advantageous to the intended beneficiaries
than the corresponding provisions contained in the Quartet&rsquo;s constitutive documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, the Merger Agreement requires that the Registrant
obtain and fully pay for &ldquo;tail&rdquo; insurance policies with a claims period of six years from and after the closing of
the mergers from one or more insurance carriers with the same or better credit rating as Quartet&rsquo;s insurance carriers with
respect to directors&rsquo; and officers&rsquo; liability insurance and fiduciary liability insurance to the fullest extent permitted
by applicable law with benefits and levels of coverage at least as favorable as Quartet&rsquo;s policies prior to the closing
of the mergers with respect to matters existing or occurring at or prior to the closing of the mergers, and if the Registrant
failed to obtain such &ldquo;tail&rdquo; insurance policies as of the closing of the mergers, the Registrant shall continue to
maintain in effect for a period of six years from and after the closing of the mergers such insurance in place as of the date
of the Merger Agreement with benefits and levels of coverage at least as favorable as provided in Quartet&rsquo;s then existing
policies, or the Registrant was entitled to purchase comparable insurance for such six-year period with benefits and levels of
coverage at least as favorable as provided in Quartet&rsquo;s then existing policies; provided, however, that in no event shall
the Registrant be required to expend for such policies premium amounts in excess of 250% of the premiums paid by Quartet as of
the date of the Merger Agreement for such insurance; and, provided, further that if the annual premiums of such insurance coverage
exceed such amount, the Registrant shall obtain a policy with the greatest coverage available for a cost not exceeding such amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.3pt">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ITEM 8. EXHIBITS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">Reference is made to
the attached Exhibit Index, which is incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 9. UNDERTAKINGS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&#9;The undersigned Registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif">(1)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">To
                                                                                                                                                     file,
                                                                                                                                                     during
                                                                                                                                                     any
                                                                                                                                                     period
                                                                                                                                                     in
                                                                                                                                                     which
                                                                                                                                                     offers
                                                                                                                                                     or
                                                                                                                                                     sales
                                                                                                                                                     are
                                                                                                                                                     being
                                                                                                                                                     made,
                                                                                                                                                     a
                                                                                                                                                     post-effective
                                                                                                                                                     amendment
                                                                                                                                                     to
                                                                                                                                                     this
                                                                                                                                                     Registration
                                                                                                                                                     Statement:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 54pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif">(i)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">To
                                                                                                                                                     include
                                                                                                                                                     any
                                                                                                                                                     prospectus
                                                                                                                                                     required
                                                                                                                                                     by
                                                                                                                                                     section
                                                                                                                                                     10(a)(3)
                                                                                                                                                     of
                                                                                                                                                     the
                                                                                                                                                     Securities
                                                                                                                                                     Act;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 54pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif">(ii)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">To
                                                                                                                                                      reflect
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      prospectus
                                                                                                                                                      any
                                                                                                                                                      facts
                                                                                                                                                      or
                                                                                                                                                      events
                                                                                                                                                      arising
                                                                                                                                                      after
                                                                                                                                                      the
                                                                                                                                                      effective
                                                                                                                                                      date
                                                                                                                                                      of
                                                                                                                                                      the
                                                                                                                                                      Registration
                                                                                                                                                      Statement
                                                                                                                                                      (or
                                                                                                                                                      the
                                                                                                                                                      most
                                                                                                                                                      recent
                                                                                                                                                      post-effective
                                                                                                                                                      amendment
                                                                                                                                                      thereof)
                                                                                                                                                      which,
                                                                                                                                                      individually
                                                                                                                                                      or
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      aggregate,
                                                                                                                                                      represent
                                                                                                                                                      a
                                                                                                                                                      fundamental
                                                                                                                                                      change
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      information
                                                                                                                                                      set
                                                                                                                                                      forth
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      Registration
                                                                                                                                                      Statement.
                                                                                                                                                      Notwithstanding
                                                                                                                                                      the
                                                                                                                                                      foregoing,
                                                                                                                                                      any
                                                                                                                                                      increase
                                                                                                                                                      or
                                                                                                                                                      decrease
                                                                                                                                                      in
                                                                                                                                                      volume
                                                                                                                                                      of
                                                                                                                                                      securities
                                                                                                                                                      offered
                                                                                                                                                      (if
                                                                                                                                                      the
                                                                                                                                                      total
                                                                                                                                                      dollar
                                                                                                                                                      value
                                                                                                                                                      of
                                                                                                                                                      securities
                                                                                                                                                      offered
                                                                                                                                                      would
                                                                                                                                                      not
                                                                                                                                                      exceed
                                                                                                                                                      that
                                                                                                                                                      which
                                                                                                                                                      was
                                                                                                                                                      registered)
                                                                                                                                                      and
                                                                                                                                                      any
                                                                                                                                                      deviation
                                                                                                                                                      from
                                                                                                                                                      the
                                                                                                                                                      low
                                                                                                                                                      or
                                                                                                                                                      high
                                                                                                                                                      end
                                                                                                                                                      of
                                                                                                                                                      the
                                                                                                                                                      estimated
                                                                                                                                                      maximum
                                                                                                                                                      offering
                                                                                                                                                      range
                                                                                                                                                      may
                                                                                                                                                      be
                                                                                                                                                      reflected
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      form
                                                                                                                                                      of
                                                                                                                                                      prospectus
                                                                                                                                                      filed
                                                                                                                                                      with
                                                                                                                                                      the
                                                                                                                                                      Commission
                                                                                                                                                      pursuant
                                                                                                                                                      to
                                                                                                                                                      Rule
                                                                                                                                                      424(b)
                                                                                                                                                      if,
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      aggregate,
                                                                                                                                                      the
                                                                                                                                                      changes
                                                                                                                                                      in
                                                                                                                                                      volume
                                                                                                                                                      and
                                                                                                                                                      price
                                                                                                                                                      represent
                                                                                                                                                      no
                                                                                                                                                      more
                                                                                                                                                      than
                                                                                                                                                      a
                                                                                                                                                      20%
                                                                                                                                                      change
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      maximum
                                                                                                                                                      aggregate
                                                                                                                                                      offering
                                                                                                                                                      price
                                                                                                                                                      set
                                                                                                                                                      forth
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      &ldquo;Calculation
                                                                                                                                                      of
                                                                                                                                                      Registration
                                                                                                                                                      Fee&rdquo;
                                                                                                                                                      table
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      effective
                                                                                                                                                      Registration
                                                                                                                                                      Statement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 54pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif">(iii)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">To
                                                                                                                                                       include
                                                                                                                                                       any
                                                                                                                                                       material
                                                                                                                                                       information
                                                                                                                                                       with
                                                                                                                                                       respect
                                                                                                                                                       to
                                                                                                                                                       the
                                                                                                                                                       plan
                                                                                                                                                       of
                                                                                                                                                       distribution
                                                                                                                                                       not
                                                                                                                                                       previously
                                                                                                                                                       disclosed
                                                                                                                                                       in
                                                                                                                                                       the
                                                                                                                                                       Registration
                                                                                                                                                       Statement
                                                                                                                                                       or
                                                                                                                                                       any
                                                                                                                                                       material
                                                                                                                                                       change
                                                                                                                                                       to
                                                                                                                                                       such
                                                                                                                                                       information
                                                                                                                                                       in
                                                                                                                                                       the
                                                                                                                                                       Registration
                                                                                                                                                       Statement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt"><I>provided, however,</I> that paragraphs (a)(1)(i)
and (a)(1)(ii) do not apply if the Registration Statement is on Form S-8, and the information required to be included in a post-effective
amendment by those paragraphs is contained in reports filed with or furnished to the Commission
by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration
Statement.</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif">(2)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">That,
                                                                                                                                                     for
                                                                                                                                                     the
                                                                                                                                                     purpose
                                                                                                                                                     of
                                                                                                                                                     determining
                                                                                                                                                     any
                                                                                                                                                     liability
                                                                                                                                                     under
                                                                                                                                                     the
                                                                                                                                                     Securities
                                                                                                                                                     Act,
                                                                                                                                                     each
                                                                                                                                                     such
                                                                                                                                                     post-effective
                                                                                                                                                     amendment
                                                                                                                                                     shall
                                                                                                                                                     be
                                                                                                                                                     deemed
                                                                                                                                                     to
                                                                                                                                                     be
                                                                                                                                                     a
                                                                                                                                                     new
                                                                                                                                                     registration
                                                                                                                                                     statement
                                                                                                                                                     relating
                                                                                                                                                     to
                                                                                                                                                     the
                                                                                                                                                     securities
                                                                                                                                                     offered
                                                                                                                                                     therein,
                                                                                                                                                     and
                                                                                                                                                     the
                                                                                                                                                     offering
                                                                                                                                                     of
                                                                                                                                                     such
                                                                                                                                                     securities
                                                                                                                                                     at
                                                                                                                                                     that
                                                                                                                                                     time
                                                                                                                                                     shall
                                                                                                                                                     be
                                                                                                                                                     deemed
                                                                                                                                                     to
                                                                                                                                                     be
                                                                                                                                                     the
                                                                                                                                                     initial
                                                                                                                                                     <I>bona
                                                                                                                                                     fide
                                                                                                                                                     </I>offering
                                                                                                                                                     thereof.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif">(3)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">To
                                                                                                                                                     remove
                                                                                                                                                     from
                                                                                                                                                     registration
                                                                                                                                                     by
                                                                                                                                                     means
                                                                                                                                                     of
                                                                                                                                                     a
                                                                                                                                                     post-effective
                                                                                                                                                     amendment
                                                                                                                                                     any
                                                                                                                                                     of
                                                                                                                                                     the
                                                                                                                                                     securities
                                                                                                                                                     being
                                                                                                                                                     registered
                                                                                                                                                     which
                                                                                                                                                     remain
                                                                                                                                                     unsold
                                                                                                                                                     at
                                                                                                                                                     the
                                                                                                                                                     termination
                                                                                                                                                     of
                                                                                                                                                     the
                                                                                                                                                     offering.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&#9;The undersigned Registrant hereby undertakes that, for
purposes of determining any liability under the Securities Act, each filing of the Registrant&rsquo;s annual report pursuant to
Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&rsquo;s annual
report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be
deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial <I>bona fide </I>offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&#9;Insofar as indemnification for liabilities arising under
the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing
provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against
public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication
of such issue.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.25pt">Pursuant to the requirements of the Securities
Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements
for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Newport, Rhode Island on December 31, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.25pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><B>Pangaea Logistics Solutions Ltd.</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">By:</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1px solid">/s/ Edward Coll</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; width: 5%">Name: </TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; width: 40%">Edward Coll</TD>
    <TD STYLE="width: 52%">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Chairman of the Board and Chief Executive Officer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.25pt">Each person whose signature appears below
constitutes and appoints Edward Coll and Anthony Laura and each of them, as attorney-in-fact with full power of substitution and
re-substitution, for him or her and in his or her name, place or stead, in any and all capacities, to sign any and all amendments
to this Registration Statement (including post-effective amendments), and to file the same, with exhibits thereto and other documents
in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each
of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about
the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all
that said attorneys-in-fact and agents, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue
hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.3pt">Pursuant to the requirements of the Securities
Act of 1933, as amended, this Registration Statement on Form S-8 has been signed by the following persons in the capacities and
on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.3pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 1px solid"><B>Signature</B></P>
        </TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 34%; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 1px solid"><B>Title</B></P>
        </TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 20%; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 1px solid"><B>Date</B></P>
</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
  <TD valign="bottom" STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom:1px solid #000000">/s/ Edward Coll</TD>
  <TD>&nbsp;</TD>
  <TD rowspan="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Chairman
    of the Board and Chief<BR>
 Executive Officer</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
</TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD valign="bottom" STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center">    Edward Coll</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,
    2014</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
  <TD valign="bottom" STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
</TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
  <TD valign="bottom" STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom:1px solid #000000">/s/ Carl Claus Boggild</TD>
  <TD>&nbsp;</TD>
  <TD rowspan="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">President
    (Brazil) Director</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
</TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center">
    Carl Claus Boggild</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,
    2014</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
  <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
</TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
  <TD valign="bottom" STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom:1px solid #000000">/s/ Anthony Laura</TD>
  <TD>&nbsp;</TD>
  <TD rowspan="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Chief
    Financial Officer</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
</TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center">    Anthony Laura</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,
    2014</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
  <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
</TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
  <TD valign="bottom" STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom:1px solid #000000">/s/ Peter M. Yu</TD>
  <TD>&nbsp;</TD>
  <TD rowspan="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Director</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
</TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center">    Peter M. Yu</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,
    2014</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
  <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
</TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
  <TD valign="bottom" STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom:1px solid #000000">/s/ Paul Hong</TD>
  <TD>&nbsp;</TD>
  <TD rowspan="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Director</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
</TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center">    Paul Hong</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,
    2014</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
  <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
</TR>

<TR STYLE="font: 10pt Times New Roman, Times, Serif">
  <TD valign="bottom" STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom:1px solid #000000">/s/ Mark L. Filanowski</TD>
  <TD>&nbsp;</TD>
  <TD rowspan="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Director</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
</TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center">    Mark L. Filanowski</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">December&nbsp;&nbsp;31,
    2014</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
  <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
</TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
  <TD valign="bottom" STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom:1px solid #000000">/s/  Eric S. Rosenfeld</TD>
  <TD>&nbsp;</TD>
  <TD rowspan="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Director</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
</TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center">    Eric S. Rosenfeld</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,
    2014</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
  <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
</TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
  <TD valign="bottom" STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom:1px solid #000000">/s/  David D. Sgro</TD>
  <TD>&nbsp;</TD>
  <TD rowspan="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Director</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
</TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center">    David D. Sgro</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,
    2014</TD></TR>
</TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><PAGE></PAGE></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding-bottom: 1px; border-bottom: Black 1px solid"><FONT STYLE="font-size: 10pt">&#9;</FONT></TD>
    <TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: bottom; text-align: center; border-bottom: Black 1px solid"><FONT STYLE="font-size: 10pt"><B>Incorporated by Reference</B></FONT></TD>
    <TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; text-align: center; border-bottom: Black 1px solid"><FONT STYLE="font-size: 10pt"><B>Filed<BR>
 Herewith</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center; border-bottom: Black 1px solid; padding-top: 10pt"><FONT STYLE="font-size: 10pt"><B>Exhibit</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>No.</B></FONT></TD>
    <TD STYLE="padding-top: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; border-bottom: Black 1px solid; padding-top: 10pt"><FONT STYLE="font-size: 10pt"><B>Description</B>&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; border-bottom: Black 1px solid; padding-top: 10pt"><FONT STYLE="font-size: 10pt"><B>Form</B>&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1px solid; padding-top: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; border-bottom: Black 1px solid; padding-top: 10pt"><FONT STYLE="font-size: 10pt"><B>File No.</B>&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1px solid; padding-top: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; border-bottom: Black 1px solid; padding-top: 10pt"><FONT STYLE="font-size: 10pt"><B>Exhibit</B>&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1px solid; padding-top: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; border-bottom: Black 1px solid; padding-top: 10pt"><FONT STYLE="font-size: 10pt"><B>Filing Date</B>&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1px solid; padding-top: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 33%"><FONT STYLE="font-size: 10pt">Bye-laws of Pangaea Logistics Solutions Ltd</FONT></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: center"><FONT STYLE="font-size: 10pt">S-4</FONT></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: center"><FONT STYLE="font-size: 10pt">333-195910</FONT></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">&#9;3.2</FONT></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center"><FONT STYLE="font-size: 10pt">May 13, 2014</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">4.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Common Stock Certificate.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">S-4/A</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">333-195910</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&#9;4.4</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">July 15, 2014</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">5.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Opinion of &nbsp;Appleby (Bermuda) Limited</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">23.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Consent of Grant Thornton LLP.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">23.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Consent of PricewaterhouseCoopers.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">23.3</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Consent of Appleby (Bermuda) Limited (included in Exhibit 5.1).</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">24.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Power of Attorney (included on signature page of this Form S-8).</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Pangaea Logistics Solutions Ltd. 2014 Equity Incentive Plan and Form of Award Agreement.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
</TABLE>
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{"company-data": {"conformed-name": "Pangaea Logistics Solutions Ltd.", "cik": "0001606909", "assigned-sic": "4412", "irs-number": "000000000", "state-of-incorporation": "D0", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-201333", "film-number": "141318258"}, "business-address": {"street1": "109 LONG WHARF", "city": "NEWPORT", "state": "RI", "zip": "02840", "phone": "401 846 7790"}, "mail-address": {"street1": "109 LONG WHARF", "city": "NEWPORT", "state": "RI", "zip": "02840"}, "former-company": {"former-conformed-name": "Quartet Holdco Ltd.", "date-changed": "20140430"}}
As submitted to the Securities and Exchange
Commission on December 31, 2014.
Registration No. 333-
UNITED STATES SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
Form S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
PANGAEA LOGISTICS SOLUTIONS LTD.
(Exact name of registrant as specified in
its charter)
Bermuda
(State or other jurisdiction of
incorporation or organization)
4412
(Primary Standard Industrial
Classification Code Number)
Not Applicable
(I.R.S. Employer
Identification Number)
Pangaea Logistics Solutions Ltd.
109 Long Wharf
Newport, Rhode Island 02840
(401) 846-7790
(Address, including Zip Code, and Telephone
Number, including Area Code, of Registrant's Principal Executive Offices)
Pangaea Logistics Solutions Ltd. 2014 Share
Incentive Plan
(Full titles of the plans)
Trudy Coleman
Pangaea Logistics Solutions Ltd.
109 Long Wharf
Newport, Rhode Island 02840
(401) 846-7790
(Name, Address, including
Zip Code, and Telephone Number, including Area Code, of Agent for Service)
Copies to:
Kirk A. Radke, Esq.
Willkie Farr & Gallagher LLP
787 Seventh Avenue
New York, New York 10019
(212) 728-8000
Indicate by check mark
whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.
See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company"
in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
o
Accelerated filer
o
Non-accelerated filer
x
Smaller reporting company
o
(Do not check if a smaller reporting
company)
CALCULATION OF REGISTRATION FEE
Title of securities to be registered
Amount to be registered(1)
Proposed
maximum offering
price per share
Proposed
maximum
aggregate offering
price
Amount of
registration fee
Common Shares, par value $0.0001 per share
1,500,000
4.81(2)
7,215,000(2)
$838.38(3)
(1)
Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "
Securities Act
"), this Registration Statement shall also cover any additional shares of the Registrant's common shares ("
Common Share
") that become issuable under the plan set forth herein by reason of any stock dividend, stock split, recapitalization or other similar transaction.
(2)
Pursuant to Rule 457(c) and (h) under the Securities Act, the proposed maximum offering price per share was determined based on the high and low prices of Pangaea Logistics Solutions Ltd.'s Common Shares reported by the Nasdaq Capital Market on December 30, 2014.
(3)
Calculated by multiplying the proposed maximum aggregate offering price by 0.0001162
EXPLANATORY NOTE
Pangaea Logistics Solutions Ltd. has prepared this Registration
Statement in accordance with the requirements of Form S-8 under the Securities Act of 1933, as amended, or the Securities
Act, to register 1,500,000 shares of its common shares, par value $0.0001 per share, which we refer to as the Common Shares, that
are reserved for issuance in respect of awards to be granted, under the Pangaea Logistics Solutions Ltd. 2014 Share Incentive Plan,
which we refer to as the Plan.
-
2
-
PART I
INFORMATION REQUIRED IN THE SECTION 10(a)
PROSPECTUS
Item 1.	Plan Information.
The
documents containing the information required by Part I of Form S-8 are omitted from this Registration Statement in accordance
with Rule 428 under the United States Securities Act of 1933, as amended (the "
Securities Act
"), and the instructions
to Form S-8. In accordance with the rules and regulations of the United States Securities and Exchange Commission (the "
Commission
")
and the instructions to Form S-8, such documents are not being filed with the Commission either as part of this Registration Statement
or as prospectuses or prospectus supplements pursuant to Rule 424 however such documents will be delivered to participants in
the Plan as specified by Rule 428(b)(1) under the Securities Act.
Item 2.	Registrant Information and Employee Plan Annual
Information.
We
will furnish without charge to each person to whom the prospectus is delivered, upon the written or oral request of such person,
a copy of any and all of the documents incorporated by reference in Item 3 of Part II of this Registration Statement, other than
exhibits to such documents (unless such exhibits are specifically incorporated by reference to the information that is incorporated).
Those documents are incorporated by reference in the Section 10(a) prospectus. Requests should be directed to Pangaea Logistics
Solutions Ltd.,
109 Long Wharf, Newport, Rhode Island 02840, Attention:
Chief Executive Officer; Telephone number (401) 846-7790.
-
3
-
PART II
INFORMATION REQUIRED IN THE REGISTRATION
STATEMENT
ITEM 3. INCORPORATION OF DOCUMETNS BY REFERENCE
We hereby incorporate by reference into
this Registration Statement the following documents previously filed by us with the Commission:
(a)
Our
                                                                                                                                                     Registration
                                                                                                                                                     Statement
                                                                                                                                                     on
                                                                                                                                                     Form
                                                                                                                                                     S-4
                                                                                                                                                     (File
                                                                                                                                                     No.
                                                                                                                                                     333-195910)
                                                                                                                                                     under
                                                                                                                                                     the
                                                                                                                                                     Securities
                                                                                                                                                     Act
                                                                                                                                                     of
                                                                                                                                                     1933,
                                                                                                                                                     as
                                                                                                                                                     amended,
                                                                                                                                                     originally
                                                                                                                                                     filed
                                                                                                                                                     with
                                                                                                                                                     the
                                                                                                                                                     Securities
                                                                                                                                                     and
                                                                                                                                                     Exchange
                                                                                                                                                     Commission
                                                                                                                                                     on
                                                                                                                                                     May
                                                                                                                                                     13,
                                                                                                                                                     2014,
                                                                                                                                                     as
                                                                                                                                                     subsequently
                                                                                                                                                     amended;
                                                                                                                                                     and
(b)
The
                                                                                                                                                     description
                                                                                                                                                     of
                                                                                                                                                     the
                                                                                                                                                     Registrant's
                                                                                                                                                     common
                                                                                                                                                     stock
                                                                                                                                                     contained
                                                                                                                                                     in
                                                                                                                                                     the
                                                                                                                                                     Registrant's
                                                                                                                                                     registration
                                                                                                                                                     statement
                                                                                                                                                     on
                                                                                                                                                     Form
                                                                                                                                                     8-A
                                                                                                                                                     filed
                                                                                                                                                     on
                                                                                                                                                     December
                                                                                                                                                     30,
                                                                                                                                                     2014
                                                                                                                                                     (File
                                                                                                                                                     No.
                                                                                                                                                     001-36798)
                                                                                                                                                     under
                                                                                                                                                     the
                                                                                                                                                     Securities
                                                                                                                                                     Exchange
                                                                                                                                                     Act
                                                                                                                                                     of
                                                                                                                                                     1934,
                                                                                                                                                     as
                                                                                                                                                     amended
                                                                                                                                                     (the
                                                                                                                                                     "
Exchange
                                                                                                                                                     Act
"),
                                                                                                                                                     including
                                                                                                                                                     any
                                                                                                                                                     amendment
                                                                                                                                                     or
                                                                                                                                                     report
                                                                                                                                                     filed
                                                                                                                                                     for
                                                                                                                                                     the
                                                                                                                                                     purpose
                                                                                                                                                     of
                                                                                                                                                     updating
                                                                                                                                                     such
                                                                                                                                                     description.
All documents, reports and definitive proxy
or information statements filed pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this Registration
Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities
offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by
reference into this Registration Statement and to be a part hereof from the date of filing of such documents with the Commission;
provided, however, that documents, reports and definitive proxy or information statements, or portions thereof, which are "furnished"
and not "filed" in accordance with the rules of the Commission shall not be deemed incorporated by reference into
this Registration Statement unless the Registrant expressly provides to the contrary that such document or information is incorporated
by reference into this Registration Statement.
Any statement contained in a document incorporated
or deemed to be incorporated herein by reference shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement herein or in any other subsequently filed document which also is or is deemed to be incorporated
by reference herein modifies or supersedes that statement. Any such statement so modified or superseded shall not constitute a
part of this Registration Statement, except as so modified or superseded.
ITEM 4. DESCRIPTION OF SECURITIES.
Not applicable.
ITEM 5. INTEREST OF NAMED EXPERTS AND COUNSEL.
Not applicable.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND
OFFICERS.
Exculpation and Indemnification
The
Bermuda Companies Act permits the Registrant to indemnify its directors, officers, employees and agents, subject to limitations
imposed by the Bermuda Companies Act. The Registrant's Bye-laws require it to indemnify directors and officers to the full
extent permitted by the Bermuda Companies Act. The Registrant may enter into indemnification agreements with its officers and
directors that provide for indemnification to the maximum extent allowed under Bermuda law. Under Bermuda law, a company may indemnify
its directors and officers where the acts indemnified do not constitute fraud or dishonesty.
Indemnification Agreements
The Registrant may enter into indemnification
agreements with each of its directors and officers and may enter into indemnification agreements with certain of its employees.
With specified exceptions, these agreements provide for the indemnification of such persons for related expenses and liabilities
incurred in connection with any action or proceeding brought against them by reason of the fact that they are or were serving
in such capacity.
Merger Agreement Provisions
Under
the terms of the Agreement and Plan of Reorganization (the "Merger Agreement"), dated as of April 30, 2014, by and
among Quartet Merger Corp. ("Quartet"), the Registrant, Quartet Merger Sub, Ltd., the Registrant's wholly-owned
subsidiary, Bulk Partners (Bermuda), LTD. ("Bulk Partners") which was formerly known as Pangaea Logistics Solutions
Ltd., and the securityholders of Bulk Partners, the parties thereto agreed that the Registrant would
-
4
-
(i) indemnify and hold harmless, to the extent Quartet was
obligated to indemnify and hold harmless such persons as of the date of the Merger Agreement to the fullest extent permitted by
applicable law, each present and former director, officer and special advisor of Quartet and the Registrant against any costs
or expenses (including reasonable attorneys' fees), judgments, fines, settlements, losses, claims, damages or liabilities
incurred in connection with any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative
or investigative, arising out of matters existing or occurring at or prior to the closing of the merger, whether asserted or claimed
prior to, at or after the closing of the merger and (ii) include and cause to be maintained in effect in the Registrant's
(or any successor's) constitutional documents after the closing of the mergers provisions regarding the elimination of liability
of directors and officers and the indemnification of the indemnified parties that are no less advantageous to the intended beneficiaries
than the corresponding provisions contained in the Quartet's constitutive documents.
In addition, the Merger Agreement requires that the Registrant
obtain and fully pay for "tail" insurance policies with a claims period of six years from and after the closing of
the mergers from one or more insurance carriers with the same or better credit rating as Quartet's insurance carriers with
respect to directors' and officers' liability insurance and fiduciary liability insurance to the fullest extent permitted
by applicable law with benefits and levels of coverage at least as favorable as Quartet's policies prior to the closing
of the mergers with respect to matters existing or occurring at or prior to the closing of the mergers, and if the Registrant
failed to obtain such "tail" insurance policies as of the closing of the mergers, the Registrant shall continue to
maintain in effect for a period of six years from and after the closing of the mergers such insurance in place as of the date
of the Merger Agreement with benefits and levels of coverage at least as favorable as provided in Quartet's then existing
policies, or the Registrant was entitled to purchase comparable insurance for such six-year period with benefits and levels of
coverage at least as favorable as provided in Quartet's then existing policies; provided, however, that in no event shall
the Registrant be required to expend for such policies premium amounts in excess of 250% of the premiums paid by Quartet as of
the date of the Merger Agreement for such insurance; and, provided, further that if the annual premiums of such insurance coverage
exceed such amount, the Registrant shall obtain a policy with the greatest coverage available for a cost not exceeding such amount.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.
Not applicable.
ITEM 8. EXHIBITS.
Reference is made to
the attached Exhibit Index, which is incorporated by reference herein.
ITEM 9. UNDERTAKINGS.
(a)	The undersigned Registrant hereby undertakes:
(1)
To
                                                                                                                                                     file,
                                                                                                                                                     during
                                                                                                                                                     any
                                                                                                                                                     period
                                                                                                                                                     in
                                                                                                                                                     which
                                                                                                                                                     offers
                                                                                                                                                     or
                                                                                                                                                     sales
                                                                                                                                                     are
                                                                                                                                                     being
                                                                                                                                                     made,
                                                                                                                                                     a
                                                                                                                                                     post-effective
                                                                                                                                                     amendment
                                                                                                                                                     to
                                                                                                                                                     this
                                                                                                                                                     Registration
                                                                                                                                                     Statement:
(i)
To
                                                                                                                                                     include
                                                                                                                                                     any
                                                                                                                                                     prospectus
                                                                                                                                                     required
                                                                                                                                                     by
                                                                                                                                                     section
                                                                                                                                                     10(a)(3)
                                                                                                                                                     of
                                                                                                                                                     the
                                                                                                                                                     Securities
                                                                                                                                                     Act;
(ii)
To
                                                                                                                                                      reflect
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      prospectus
                                                                                                                                                      any
                                                                                                                                                      facts
                                                                                                                                                      or
                                                                                                                                                      events
                                                                                                                                                      arising
                                                                                                                                                      after
                                                                                                                                                      the
                                                                                                                                                      effective
                                                                                                                                                      date
                                                                                                                                                      of
                                                                                                                                                      the
                                                                                                                                                      Registration
                                                                                                                                                      Statement
                                                                                                                                                      (or
                                                                                                                                                      the
                                                                                                                                                      most
                                                                                                                                                      recent
                                                                                                                                                      post-effective
                                                                                                                                                      amendment
                                                                                                                                                      thereof)
                                                                                                                                                      which,
                                                                                                                                                      individually
                                                                                                                                                      or
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      aggregate,
                                                                                                                                                      represent
                                                                                                                                                      a
                                                                                                                                                      fundamental
                                                                                                                                                      change
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      information
                                                                                                                                                      set
                                                                                                                                                      forth
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      Registration
                                                                                                                                                      Statement.
                                                                                                                                                      Notwithstanding
                                                                                                                                                      the
                                                                                                                                                      foregoing,
                                                                                                                                                      any
                                                                                                                                                      increase
                                                                                                                                                      or
                                                                                                                                                      decrease
                                                                                                                                                      in
                                                                                                                                                      volume
                                                                                                                                                      of
                                                                                                                                                      securities
                                                                                                                                                      offered
                                                                                                                                                      (if
                                                                                                                                                      the
                                                                                                                                                      total
                                                                                                                                                      dollar
                                                                                                                                                      value
                                                                                                                                                      of
                                                                                                                                                      securities
                                                                                                                                                      offered
                                                                                                                                                      would
                                                                                                                                                      not
                                                                                                                                                      exceed
                                                                                                                                                      that
                                                                                                                                                      which
                                                                                                                                                      was
                                                                                                                                                      registered)
                                                                                                                                                      and
                                                                                                                                                      any
                                                                                                                                                      deviation
                                                                                                                                                      from
                                                                                                                                                      the
                                                                                                                                                      low
                                                                                                                                                      or
                                                                                                                                                      high
                                                                                                                                                      end
                                                                                                                                                      of
                                                                                                                                                      the
                                                                                                                                                      estimated
                                                                                                                                                      maximum
                                                                                                                                                      offering
                                                                                                                                                      range
                                                                                                                                                      may
                                                                                                                                                      be
                                                                                                                                                      reflected
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      form
                                                                                                                                                      of
                                                                                                                                                      prospectus
                                                                                                                                                      filed
                                                                                                                                                      with
                                                                                                                                                      the
                                                                                                                                                      Commission
                                                                                                                                                      pursuant
                                                                                                                                                      to
                                                                                                                                                      Rule
                                                                                                                                                      424(b)
                                                                                                                                                      if,
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      aggregate,
                                                                                                                                                      the
                                                                                                                                                      changes
                                                                                                                                                      in
                                                                                                                                                      volume
                                                                                                                                                      and
                                                                                                                                                      price
                                                                                                                                                      represent
                                                                                                                                                      no
                                                                                                                                                      more
                                                                                                                                                      than
                                                                                                                                                      a
                                                                                                                                                      20%
                                                                                                                                                      change
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      maximum
                                                                                                                                                      aggregate
                                                                                                                                                      offering
                                                                                                                                                      price
                                                                                                                                                      set
                                                                                                                                                      forth
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      "Calculation
                                                                                                                                                      of
                                                                                                                                                      Registration
                                                                                                                                                      Fee"
                                                                                                                                                      table
                                                                                                                                                      in
                                                                                                                                                      the
                                                                                                                                                      effective
                                                                                                                                                      Registration
                                                                                                                                                      Statement;
(iii)
To
                                                                                                                                                       include
                                                                                                                                                       any
                                                                                                                                                       material
                                                                                                                                                       information
                                                                                                                                                       with
                                                                                                                                                       respect
                                                                                                                                                       to
                                                                                                                                                       the
                                                                                                                                                       plan
                                                                                                                                                       of
                                                                                                                                                       distribution
                                                                                                                                                       not
                                                                                                                                                       previously
                                                                                                                                                       disclosed
                                                                                                                                                       in
                                                                                                                                                       the
                                                                                                                                                       Registration
                                                                                                                                                       Statement
                                                                                                                                                       or
                                                                                                                                                       any
                                                                                                                                                       material
                                                                                                                                                       change
                                                                                                                                                       to
                                                                                                                                                       such
                                                                                                                                                       information
                                                                                                                                                       in
                                                                                                                                                       the
                                                                                                                                                       Registration
                                                                                                                                                       Statement;
provided, however,
that paragraphs (a)(1)(i)
and (a)(1)(ii) do not apply if the Registration Statement is on Form S-8, and the information required to be included in a post-effective
amendment by those paragraphs is contained in reports filed with or furnished to the Commission
by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration
Statement.
-
5
-
(2)
That,
                                                                                                                                                     for
                                                                                                                                                     the
                                                                                                                                                     purpose
                                                                                                                                                     of
                                                                                                                                                     determining
                                                                                                                                                     any
                                                                                                                                                     liability
                                                                                                                                                     under
                                                                                                                                                     the
                                                                                                                                                     Securities
                                                                                                                                                     Act,
                                                                                                                                                     each
                                                                                                                                                     such
                                                                                                                                                     post-effective
                                                                                                                                                     amendment
                                                                                                                                                     shall
                                                                                                                                                     be
                                                                                                                                                     deemed
                                                                                                                                                     to
                                                                                                                                                     be
                                                                                                                                                     a
                                                                                                                                                     new
                                                                                                                                                     registration
                                                                                                                                                     statement
                                                                                                                                                     relating
                                                                                                                                                     to
                                                                                                                                                     the
                                                                                                                                                     securities
                                                                                                                                                     offered
                                                                                                                                                     therein,
                                                                                                                                                     and
                                                                                                                                                     the
                                                                                                                                                     offering
                                                                                                                                                     of
                                                                                                                                                     such
                                                                                                                                                     securities
                                                                                                                                                     at
                                                                                                                                                     that
                                                                                                                                                     time
                                                                                                                                                     shall
                                                                                                                                                     be
                                                                                                                                                     deemed
                                                                                                                                                     to
                                                                                                                                                     be
                                                                                                                                                     the
                                                                                                                                                     initial
bona
                                                                                                                                                     fide
offering
                                                                                                                                                     thereof.
(3)
To
                                                                                                                                                     remove
                                                                                                                                                     from
                                                                                                                                                     registration
                                                                                                                                                     by
                                                                                                                                                     means
                                                                                                                                                     of
                                                                                                                                                     a
                                                                                                                                                     post-effective
                                                                                                                                                     amendment
                                                                                                                                                     any
                                                                                                                                                     of
                                                                                                                                                     the
                                                                                                                                                     securities
                                                                                                                                                     being
                                                                                                                                                     registered
                                                                                                                                                     which
                                                                                                                                                     remain
                                                                                                                                                     unsold
                                                                                                                                                     at
                                                                                                                                                     the
                                                                                                                                                     termination
                                                                                                                                                     of
                                                                                                                                                     the
                                                                                                                                                     offering.
(b)	The undersigned Registrant hereby undertakes that, for
purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to
Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual
report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be
deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial
bona fide
offering thereof.
(c)	Insofar as indemnification for liabilities arising under
the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing
provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against
public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication
of such issue.
-
6
-
SIGNATURES
Pursuant to the requirements of the Securities
Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements
for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Newport, Rhode Island on December 31, 2014.
Pangaea Logistics Solutions Ltd.
By:
/s/ Edward Coll
Name:
Edward Coll
Title:
Chairman of the Board and Chief Executive Officer
POWER OF ATTORNEY
Each person whose signature appears below
constitutes and appoints Edward Coll and Anthony Laura and each of them, as attorney-in-fact with full power of substitution and
re-substitution, for him or her and in his or her name, place or stead, in any and all capacities, to sign any and all amendments
to this Registration Statement (including post-effective amendments), and to file the same, with exhibits thereto and other documents
in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each
of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about
the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all
that said attorneys-in-fact and agents, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue
hereof.
Pursuant to the requirements of the Securities
Act of 1933, as amended, this Registration Statement on Form S-8 has been signed by the following persons in the capacities and
on the dates indicated.
Signature
Title
Date
/s/ Edward Coll
Chairman
    of the Board and Chief
Executive Officer
Edward Coll
December 31,
    2014
/s/ Carl Claus Boggild
President
    (Brazil) Director
Carl Claus Boggild
December 31,
    2014
/s/ Anthony Laura
Chief
    Financial Officer
Anthony Laura
December 31,
    2014
/s/ Peter M. Yu
Director
Peter M. Yu
December 31,
    2014
/s/ Paul Hong
Director
Paul Hong
December 31,
    2014
/s/ Mark L. Filanowski
Director
Mark L. Filanowski
December  31,
    2014
/s/  Eric S. Rosenfeld
Director
Eric S. Rosenfeld
December 31,
    2014
/s/  David D. Sgro
Director
David D. Sgro
December 31,
    2014
EXHIBIT INDEX
Incorporated by Reference
Filed
Herewith
Exhibit
No.
Description
Form
File No.
Exhibit
Filing Date
4.1
Bye-laws of Pangaea Logistics Solutions Ltd
S-4
333-195910
3.2
May 13, 2014
4.2
Form of Common Stock Certificate.
S-4/A
333-195910
4.4
July 15, 2014
5.1
Opinion of  Appleby (Bermuda) Limited
X
23.1
Consent of Grant Thornton LLP.
X
23.2
Consent of PricewaterhouseCoopers.
X
23.3
Consent of Appleby (Bermuda) Limited (included in Exhibit 5.1).
X
24.1
Power of Attorney (included on signature page of this Form S-8).
X
99.1
Pangaea Logistics Solutions Ltd. 2014 Equity Incentive Plan and Form of Award Agreement.
X