---
schema_version: "secwatch.filing_event.v1"
accession: "0001606909-25-000112"
form_type: "8-K"
ticker: "PANL"
cik: "0001606909"
company_name: "Pangaea Logistics Solutions Ltd."
filed_at: "2025-05-12T23:59:59+00:00"
generated_at: "2026-05-21T23:41:23.017315+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Pangaea Logistics reports Q1 net loss $2.0M, announces $15M buyback, $0.05 dividend

## Summary
- Net loss of $2.0M ($0.03/share) vs net income of $11.7M ($0.26/share) in Q1 2024.
- Adjusted EBITDA fell 24.2% to $14.8M; total revenue was $122.8M.
- TCE rates of $11,390/day, down 36% YoY; shipping days up 41% from handy fleet acquisition.
- Board authorized $15M share buyback (5.6% of market cap); declared $0.05 quarterly dividend payable June 16.
- Cash and equivalents $63.9M; total debt $390.8M, including $100.6M assumed in acquisition.

## SEC filing metadata
- accession: 0001606909-25-000112
- form_type: 8-K
- ticker: PANL
- cik: 0001606909
- company_name: Pangaea Logistics Solutions Ltd.
- filed_at: 2025-05-12T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1606909/000160690925000112/0001606909-25-000112-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1606909/000160690925000112/panl-20250512.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001606909-25-000112
- JSON: https://secwatch.observer/filing/0001606909-25-000112.json
- Plain text: https://secwatch.observer/filing/0001606909-25-000112.txt

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