Recent Updates — PANL

Pangaea Logistics Solutions reported GAAP net income attributable to shareholders of $38.3 million, or $0.59 per share, for the third quarter ended September 30, 2026. Adjusted net income was $33.6 million, or $0.52 per share, driven by a 31% year-over-year increase in Time Charter Equivalent rates to $20,414 per day and an 81% rise in Adjusted EBITDA to $52.4 million. The company also declared a quarterly cash dividend of $0.10 per common share, payable on December 15, 2026, to shareholders of record as of December 1, 2026. Pangaea Logistics Solutions Ltd. provides comprehensive maritime logistics solutions and dry bulk transportation services.

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.

On June 7, 2026, Pangaea Logistics Solutions Ltd. announced the removal of Eric S. Rosenfeld, David D. Sgro, and Anthony Laura from the Board of Directors. The Board has been reduced to seven directors to improve efficiency and decision-making capabilities.