PANGAEA LOGISTICS SOLUTION L

Ticker: PANL CUSIP: G6891L105 Class: Foreign Stock

BASSO CAPITAL MANAGEMENT, L.P.'s Holding History (CIK: 0001287978)

Note: Option positions (PUT/CALL) are excluded.

Q1 2015

Shares 9,460 Value ($000) $25 Avg Close $2.46 Range $1.80 - $3.58

Q4 2014

Shares 10,960 Value ($000) $52 Avg Close $4.37 Range $3.37 - $7.57

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2015	9,460	$25	$2.46	$1.80 - $3.58
Q4 2014	10,960	$52	$4.37	$3.37 - $7.57