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Pangaea Logistics Solutions Ltd   (PANL)
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Price: $6.8400 $-0.16 -2.286%
Day's High: $6.8553 Week Perf: -17.29 %
Day's Low: $ 6.26 30 Day Perf: -17.99 %
Volume (M): 817 52 Wk High: $ 9.53
Volume (M$): $ 5,590 52 Wk Avg: $6.77
Open: $6.69 52 Wk Low: $5.06



 Market Capitalization (Millions $) 310
 Shares Outstanding (Millions) 45
 Employees 408
 Revenues (TTM) (Millions $) 496
 Net Income (TTM) (Millions $) 29
 Cash Flow (TTM) (Millions $) -29
 Capital Exp. (TTM) (Millions $) 0

Pangaea Logistics Solutions Ltd

Pangaea Logistics Solutions Ltd. and its subsidiaries is a provider of seaborne drybulk transportation services. Pangaea utilizes its logistics expertise to service a broad base of industrial customers who require the transportation of a wide variety of drybulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone. The Company addresses the transportation needs of its customers by undertaking a comprehensive set of services and activities, including cargo loading, cargo discharge, vessel chartering, voyage planning, and technical vessel management.

The Company utilizes its logistics expertise to service a broad base of industrial customers who require the transportation of a wide variety of drybulk cargoes, including grains, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone. The Company derives substantially all of its revenue from contracts of affreightment, also known as COAs, voyage charters, and time charters. In particular, the Company has historically focused on backhaul routes. Backhaul routes or ballast legs, position vessels for discharge in loading areas. Backhaul routes allow us to reduce ballast days and instead, earn revenues at times and on routes that are typically traveled without paying cargo.

Contracts of affreightment (“COAs”), are contracts to transport multiple shipments of cargo during the term of the contract between specified load and discharge ports, at a fixed or variable price per metric ton of cargo. Voyage charters are revenue streams under which a vessel carries a shipment of cargo for a customer on a specified route for a fixed price per metric ton of cargo.Time charters are agreements during which the vessel is dedicated solely to the charterer for the term of the agreement. A majority of the Company’s revenue is from COAs and voyage charters, as our focus is on transporting cargo for our customers. The Company’s COAs typically extend for a period of one to five years, although some extend for longer periods. A time charter may vary from a single trip to longer-term charters, whenever we determine such use to be in our commercial interest. The length of a voyage depends on the number of load and discharge ports, the time spent in such ports and the distance between the ports. The Company attempts, through selecting COAs and voyage contracts on what would normally be backhaul or ballast legs, to enhance vessel utilization and its profitability because these contracts and charters position vessels at or near loading areas where spot cargoes are typically obtained. This reduces ballast time and expense as a percentage of the vessel’s total revenue and increases expected earnings for the vessel.

The Company uses a mix of owned and chartered-in motor vessels ("m/v") to transport more than 18.3 million deadweight tons (“dwt”) of cargo to more than 100 ports around the world, averaging over 40 vessels in service. The majority of our fleet is chartered-in on short-term charters of less than 9 months. The Company believes that these shorter-term charters afford us more flexibility to match our variable costs to our customers’ service requirements, allowing us to respond to changes in market demand and limiting our exposure to changes in prevailing charter rates. In addition to the Company’s chartered-in fleet, we currently have interests in 14 dry bulk carriers and have orders for the construction of two additional vessels. These vessels are and will be used to serve the Company’s customers’ cargo transportation needs. The Company believes that a combination of owned and chartered-in vessels helps it to more efficiently match its customer demand than it could with an entirely owned fleet or an entirely chartered-in fleet.

The Company is a holding company incorporated under the laws of Bermuda as an exempted company on April 29, 2014. Bulk Partners, which following the Mergers is wholly owned by the Company, is also a holding company that was incorporated under the laws of Bermuda as an exempted company on June 17, 2008, by three individuals who are collectively referred to as the Founders.

The Company owns its vessels through separate wholly-owned subsidiaries and through joint venture entities, which the Company consolidates as variable interest entities, incorporated in Bermuda and Denmark. Certain of its wholly-owned subsidiaries that are organized in Bermuda, British Virgin Islands, Panama, and Delaware provide it with vessel management services and administrative support.

The Company’s principal executives operate from the offices of Phoenix Bulk Carriers (US) LLC, which is located at 109 Long Wharf, Newport, Rhode Island 02840.The phone number at that address is (401) 846-7790. The Company also has offices in Copenhagen, Denmark, Athens, Greece, Rio de Janeiro, Brazil and Singapore. The Company’s corporate website address is http://www.pangaeals.com.


The Company is a service business and its customers use its services because they believe the Company adds and creates value for them. To add value, the Company works with its customers to provide a range of logistics services beyond the traditional loading, carriage and discharge of cargoes. For example, the Company works with certain customers to review their contractual delivery terms and conditions, permitting those customers to reduce costs and risks while accelerating payments. As another example, one of its customers is heavily dependent upon a port that was insufficiently supported by port pilots for the approach to port. To permit a large expansion of its services for this client, the Company formed a separate pilots association to increase the number of available pilots and improve access to the port. As a result of efforts such as these, in some cases the Company is the de facto transportation department for certain clients.


The Company’s core offering is the safe, reliable, and timely loading, carriage, and discharge of cargoes for customers. This offering requires identifying customers, agreeing on the terms of service, selecting a vessel to undertake the voyage, working with port personnel to load and discharge cargo, and documenting the transfers of title upon loading or discharge of the cargo. As a result, the Company spends significant time and resources to identify and retain customers and source potential cargoes in its areas of operation. To further expand its customer base and potential cargoes, the Company has developed expertise in servicing ports and routes subject to severe ice conditions, including the Baltic Sea and the Northern Sea Route. The Company’s subsidiary, Nordic Bulk Carriers A/S (“NBC”), is an adviser to the European Commission on Arctic maritime issues.


 



   Company Address: 109 Long Wharf Newport 2840 RI
   Company Phone Number: 846-7790   Stock Exchange / Ticker: NASDAQ PANL
   


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
EGLE   -3.43%    
GNK   -1.73%    
SB      0% 
SBLK   -1.87%    
SFL   -4.83%    
SGLY        22.9% 
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Pangaea Logistics Solutions Ltd

Disappointing Performance Mars Pangaea Logistics Solutions Ltd's otherwise Strong Financial Showing

In the highly competitive maritime logistics industry, Pangaea Logistics Solutions Ltd has cemented its position as a dominant player by offering comprehensive and innovative services to streamline the global supply chain. The company's recent announcement of a quarterly cash dividend of $0.10 per share further exemplifies its strong financial performance and commitment to creating shareholder value.
Pangaea Logistics Solutions has consistently adapted to the growing demand for efficient transportation and logistical solutions. Its ability to provide tailored services to a diverse range of clients has set them apart from their competitors. As the industry continues to evolve, Pangaea has been at the forefront of innovation, ensuring it remains a trusted partner for global businesses.

Dividend

Charting Course to Prosperity: Pangaea Logistics Solutions Rewards Shareholders with Quarterly Dividend

Published Thu, Feb 15 2024 9:15 PM UTC

Unlocking the Seas of Opportunity: Pangaea Logistics Solutions Declares Quarterly Cash Dividend
February 15, 2024 - Newport, Rhode Island: Pangaea Logistics Solutions Ltd. (NASDAQ: PANL), a leading global provider of comprehensive maritime logistics solutions, has taken a significant stride forward by declaring a quarterly cash dividend of $0.10 per share. This announcem...

Pangaea Logistics Solutions Ltd

Pangaea Logistics Solutions Ltd Sees Significant Double-Digit Revenue Drop in Fiscal Period Ending Sep 30, 2023

Pangaea Logistics Solutions Ltd is a shipping and logistics company that provides comprehensive transportation services for dry bulk cargoes. The company operates a fleet of vessels that transport a wide range of commodities, including grains, coal, iron ore, and steel products, among others. Pangaea Logistics Solutions Ltd serves customers globally and aims to provide efficient and cost-effective solutions for their transportation needs.
During the third quarter of the 2023 earnings season, Pangaea Logistics Solutions Ltd reported earnings per share (EPS) of $0.42, which remained unchanged from the previous year. However, compared to the previous reporting period, EPS significantly advanced by 600% from $0.06 per share. This improvement in earnings per share indicates the company's positive financial performance.

Pangaea Logistics Solutions Ltd

Pangaea Logistics Solutions Ltd Faces Dramatic 89% Income Plunge, Revealing Insights into Future Outlook



Pangaea Logistics Solutions Ltd, a prominent player in the logistics industry, recently reported its financial results for the most recent fiscal period. The data reveals a significant decline in income and revenue compared to the previous year, along with a decrease in operating and net margins. However, there are some noteworthy aspects, such as increased stockpiles and accounts receivable, which provide valuable insights into the company's future outlook.
Income and Revenue Decline:
PANL witnessed a substantial decline in income, plummeting by -89.29% to $0.06 per share from $0.56 per share reported a year ago. Moreover, income faded by -25% from $0.08 per share compared to the prior reporting season. Similarly, revenue experienced a steep decline of -39.218% to $116.73 million from $192.04 million in the same reporting season a year ago.

Pangaea Logistics Solutions Ltd

Pangaea Logistics Solutions Ltd Faces Steep Decline in First Quarter 2023 Revenue

Pangaea Logistics Solutions Ltd is a leading global provider of logistics solutions with a strong presence in the marine transportation industry. The company specializes in the transportation of dry bulk cargoes, which includes coal, iron ore, grain, fertilizers, and other commodities.
The fiscal year ending March 31, 2023, was a challenging one for Pangaea Logistics Solutions Ltd, as the company saw a significant decline in its income and revenue. The company's income fell sharply by -82.22% to $0.08 per share compared to $0.45 per share a year ago. The Income per Share also dropped by -76.47% from $0.34 per share in the previous financial period. The revenue also deteriorated by -43.153% to $113.28 million from $199.26 million in the comparable financial period a year ago. Sequentially, the revenue declined by -12.268% from $129.12 million.






 

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Pangaea Logistics Solutions Ltd does not provide revenue guidance.

Earnings Outlook
Pangaea Logistics Solutions Ltd does not provide earnings estimates.

 
Geographic Revenue Dispersion




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