{"schema_version":"secwatch.filing_event.v1","accession":"0001606909-23-000061","form_type":"8-K","ticker":"PANL","cik":"0001606909","company_name":"Pangaea Logistics Solutions Ltd.","filed_at":"2023-05-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:39.645280+00:00","generated_at":"2026-06-15T06:26:43.143243+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Pangaea Q1 net income $3.5M, down 83% YoY; TCE rates $14,372/day, -46%","bullets":["Net income $3.5M ($0.08 diluted EPS) vs $20.2M YoY; adjusted net income $5.1M ($0.11).","Revenue $113.7M, down 41% YoY; TCE $14,372/day, down 46% but 48% above Baltic indices.","Adjusted EBITDA $16.2M, down 48% YoY; cash $129.1M; net debt/EBITDA 1.3x.","Declared $0.10/share quarterly dividend (paid June 15); increased 100% YoY.","Acquired terminal ops for $7.2M (Port Everglades, Palm Beach, Baltimore); purchased vessel Bulk Prudence for $26.6M."],"urls":{"canonical":"https://secwatch.observer/filing/0001606909-23-000061","json":"https://secwatch.observer/filing/0001606909-23-000061.json","markdown":"https://secwatch.observer/filing/0001606909-23-000061.md","text":"https://secwatch.observer/filing/0001606909-23-000061.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1606909/000160690923000061/0001606909-23-000061-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1606909/000160690923000061/panl-20230510.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T06:26:43.143243+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"fe7f648b130767613aea65caca4e5bbea3810ff3","claim":"Pangaea Logistics Solutions Ltd. reported the first quarter ended March 31, 2023 results: revenue $113.7 million, net income $5.1 million, EPS $0.11 per diluted share.","evidence_excerpt":"For the first quarter ended March 31, 2023, Pangaea reported non-GAAP adjusted net income of $5.1 million, or $0.11 per diluted share, on total revenue of $113.7 million.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1606909/000160690923000061/0001606909-23-000061-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the first quarter ended March 31, 2023"},{"label":"Revenue","value":"$113.7 million"},{"label":"Net income","value":"$5.1 million"},{"label":"EPS","value":"$0.11 per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}