---
schema_version: "secwatch.filing_event.v1"
accession: "0001606909-21-000119"
form_type: "8-K"
ticker: "PANL"
cik: "0001606909"
company_name: "Pangaea Logistics Solutions Ltd."
filed_at: "2021-11-09T23:59:59+00:00"
generated_at: "2026-06-28T10:44:51.559687+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Pangaea Q3 net income jumps to $27M, EPS $0.60; interim chairman appointed

## Summary
- Net income $27.0M ($0.60 diluted EPS) vs $7.6M ($0.17) a year ago; adjusted net income $21.7M.
- Revenue $213M, +105% YoY; TCE rate $28,770/day vs $13,316/day.
- Adjusted EBITDA $33.6M vs $15.4M in prior-year quarter.
- Quarterly dividend $0.035/sh declared, payable Dec 15 to holders of record Dec 1.
- Purchased 2009-built Panamax for $19.9M (Q1 2022 delivery); Richard du Moulin appointed interim chairman due to Ed Coll's sick leave.

## SEC filing metadata
- accession: 0001606909-21-000119
- form_type: 8-K
- ticker: PANL
- cik: 0001606909
- company_name: Pangaea Logistics Solutions Ltd.
- filed_at: 2021-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1606909/000160690921000119/0001606909-21-000119-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1606909/000160690921000119/panl-20211109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001606909-21-000119
- JSON: https://secwatch.observer/filing/0001606909-21-000119.json
- Plain text: https://secwatch.observer/filing/0001606909-21-000119.txt

## Key facts
- Executive change
  Richard du Moulin was appointed as interim Chairman of the Board of Directors at Pangaea Logistics Solutions Ltd..
  - Action: appointed
  - Role: interim Chairman of the Board of Directors
  source text: On November 8, 2021, the Board of Pangaea Logistics Solutions Ltd. appointed Richard du Moulin to serve as the Company's interim Chairman of the Board of Directors, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1606909/000160690921000119/0001606909-21-000119-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.