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.