PANL News and Press, Pangaea Logistics Solutions Ltd. From 09/20/22

Summary Small, Greece-based dry bulk shipper is trading at an eye-catching discount to net asset value ("NAV"). Market environment has weakened in recent month due to a lack of Chinese demand, recession fears and rapidly easing port congestion. Ongoing strength in the second-h...

Ship acquisition announced. Pangaea announced the acquisition of a 2010-built vessel for US$17.1 million. Management had indicated it was in final negotiations for a ship purchase during its August 18th call to discuss second quarter financial results so the announcement was not a surprise. Pa...

Pangaea Logistics Solutions ( NASDAQ: PANL ) said Tuesday it bought a 2010 Hyundai Vinashin shipyard-built 56K dwt dry bulk vessel in the second-hand market for $17.1M. PANL operated the ship for the past year on a charter-in basis. The new ship is expected to be deliv...

Pangaea is one of the most well-capitalized dry bulk shippers compared to its peers. Pangaea has lower residual asset risks in market downturns because it leases the majority of its fleet. However, BDI just came off multi-year high and might head lower in the current environment. ...

Higher revenues reflect a jump in shipping rates. The company reported revenues of $195.5m up 34% over the same period last year. Higher sales reflect a 29% increase in TCE rates to $27,139. Adjusted EBITDA rose 107% to $44.2 million. The large increase in EBITDA reflects higher revenues combi...

Pangaea Logistics ( PANL ) Q2 shows a jump in revenue of 34% to $195.5M, due mainly to a 29% increase in daily Time Charter Equivalent (or TCE) rates. Voyage revenue increased 48% Y/Y. Total shipping days, which include both voyage and time charter days, remained essential...

The following slide deck was published by Pangaea Logistics Solutions, Ltd. in conjunction with their 2022 Q2 earnings call. For further details see: Pangaea Logistics Solutions, Ltd. 2022 Q2 - Results - Earnings Call Presentation

Pangaea Logistics Solutions, Ltd. (PANL) Q2 2022 Earnings Conference Call August 10, 2022 8:00 AM ET Company Participants Emily Blum - IR, Prosek Partners Mark Filanowski - CEO Gianni Del Signore - CFO Mads Boye Petersen - Chief Operating Officer Confer...

Pangaea Logistics press release ( NASDAQ: PANL ): Q2 Non-GAAP EPS of $0.64 beats by $0.21 . Revenue of $195.5M (+34.3% Y/Y) beats by $8.71M . Shares +9% . For further details see: Pangaea Logistics rises 9% after Non-GAAP EPS of $0.64 beats by $0....

Pangaea Logistics Solutions Ltd. Reports Record Financial Results for the Quarter Ended June 30, 2022 PR Newswire NEWPORT, R.I. , Aug. 9, 2022 /PRNewswire/ -- Pangaea Logistics Solutions Ltd. ("Pangaea" or the "Company") (NASDAQ: PANL), a global prov...