---
schema_version: "secwatch.filing_event.v1"
accession: "0001606909-25-000137"
form_type: "8-K"
ticker: "PANL"
cik: "0001606909"
company_name: "Pangaea Logistics Solutions Ltd."
filed_at: "2025-08-07T23:59:59+00:00"
generated_at: "2026-05-17T17:37:48.622336+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Pangaea Q2 net loss $2.7M (adj. loss $0.02/shr) on $156.7M revenue; TCE rates fall 25% YoY

## Summary
- Net loss $2.7M ($0.04/shr) vs. net income $3.7M ($0.08/shr) in Q2 2024; adjusted net loss $1.4M ($0.02/shr).
- Revenue $156.7M, up 19% YoY, driven by 51% increase in shipping days to 6,222 from handysize fleet acquisition.
- TCE rate $12,108/day, down 25% YoY; Adjusted EBITDA $15.3M, down 4.1% YoY; margin 9.8% vs 12.1%.
- Declared $0.05/shr dividend (payable Sept 15, record Sept 2) and repurchased 202,822 shares in Q2.
- Sold Strategic Endeavor for $7.7M (closed July 2025) and bought remaining 49% of Seamar Management for $2.7M.

## SEC filing metadata
- accession: 0001606909-25-000137
- form_type: 8-K
- ticker: PANL
- cik: 0001606909
- company_name: Pangaea Logistics Solutions Ltd.
- filed_at: 2025-08-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1606909/000160690925000137/0001606909-25-000137-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1606909/000160690925000137/panl-20250807.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001606909-25-000137
- JSON: https://secwatch.observer/filing/0001606909-25-000137.json
- Plain text: https://secwatch.observer/filing/0001606909-25-000137.txt

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