Earnings ·
Pangaea Logistics Solutions Ltd. reported second quarter 2026 financial results, posting GAAP net income of $10.2…
PANLPangaea Logistics Solutions Ltd.
Pangaea Logistics Solutions Ltd. reported second quarter 2026 financial results, posting GAAP net income of $10.2 million ($0.16 per share) and adjusted net income of $16.9 million ($0.26 per share). Total revenue reached $187.1 million, with Time Charter Equivalent rates rising 50% year-over-year to $18,153 per day. The company declared a quarterly cash dividend of $0.10 per common share, payable on September 15, 2026, to shareholders of record as of September 1, 2026. Additionally, Pangaea sold the vessel Bulk Xaymaca for $9.6 million and started operations at Port Tampa Bay. The company operates in the dry bulk maritime logistics industry, providing shipping, terminal, and stevedoring services.