{"schema_version":"secwatch.filing_event.v1","accession":"0001606909-23-000129","form_type":"8-K","ticker":"PANL","cik":"0001606909","company_name":"Pangaea Logistics Solutions Ltd.","filed_at":"2023-11-08T23:59:59+00:00","discovered_at":"2026-05-14T18:03:29.761382+00:00","generated_at":"2026-06-08T09:34:09.327084+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Pangaea Q3 net income flat at $18.9M; revenue down 26% YoY; TCE rates fall 35%","bullets":["Net income $18.9M ($0.42 diluted EPS); adjusted net income $14.4M ($0.32 adjusted EPS).","Revenue $135.6M, down from $184.5M YoY; TCE rate $15,748/day, -35% vs $24,107.","TCE exceeded Baltic Panamax/Supramax indices by 49%; Adj. EBITDA $27.9M (vs $38.5M).","Q4-to-date TCE $19,000/day on ~2,715 days; declared $0.10 dividend payable Dec 15.","Sold Bulk Trident for $9.8M in Oct; net debt/EBITDA 2.2x; operating cash flow $16.3M."],"urls":{"canonical":"https://secwatch.observer/filing/0001606909-23-000129","json":"https://secwatch.observer/filing/0001606909-23-000129.json","markdown":"https://secwatch.observer/filing/0001606909-23-000129.md","text":"https://secwatch.observer/filing/0001606909-23-000129.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1606909/000160690923000129/0001606909-23-000129-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1606909/000160690923000129/panl-20231108.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T09:34:09.327084+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":"6b1ed17ac695e9acf748e83887d87b6a351a5439","claim":"Pangaea Logistics Solutions Ltd. reported three months ended September 30, 2023 results: revenue $135.6 million, net income $18.9 million, or $0.42 per diluted share, EPS $0.42 per diluted share.","evidence_excerpt":"For the third quarter ended September 30, 2023, Pangaea reported non-GAAP adjusted net income of $14.4 million, or $0.32 per diluted share, on total revenue of $135.6 million.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1606909/000160690923000129/0001606909-23-000129-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"three months ended September 30, 2023"},{"label":"Revenue","value":"$135.6 million"},{"label":"Net income","value":"$18.9 million, or $0.42 per diluted share"},{"label":"EPS","value":"$0.42 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"}