---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-016596"
form_type: "8-K"
ticker: "PANL"
cik: "0001606909"
company_name: "Pangaea Logistics Solutions Ltd."
filed_at: "2026-03-11T23:59:59+00:00"
generated_at: "2026-05-15T14:49:00.951507+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Pangaea Q4 net income $11.9M, TCE $17,773/day (+11% YoY); declares $0.05 dividend

## Summary
- GAAP net income of $11.9M ($0.19 diluted EPS); adjusted net income of $10.1M ($0.16).
- Revenue $183.9M; TCE rate $17,773/day, up 11% YoY and 19% above Baltic indices.
- Shipping days rose 26% to 6,025 driven by the late-2024 acquisition of 15 handy-size vessels.
- Quarterly cash dividend of $0.05/share declared, payable March 13, 2026; also agreed to sell Bulk Xaymaca for $9.6M.
- CEO Mads Boye Petersen highlighted smooth leadership transition and unchanged strategic direction.

## SEC filing metadata
- accession: 0001628280-26-016596
- form_type: 8-K
- ticker: PANL
- cik: 0001606909
- company_name: Pangaea Logistics Solutions Ltd.
- filed_at: 2026-03-11T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1606909/000162828026016596/0001628280-26-016596-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1606909/000162828026016596/panl-20260310.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-016596
- JSON: https://secwatch.observer/filing/0001628280-26-016596.json
- Plain text: https://secwatch.observer/filing/0001628280-26-016596.txt

## Key facts
- Earnings Releases
  Pangaea Logistics Solutions Ltd. reported the three months ended December 31, 2025 results: revenue $183.9 million, net income $10.1 million, EPS $0.16 per share.
  - Period: the three months ended December 31, 2025
  - Revenue: $183.9 million
  - Net income: $10.1 million
  - EPS: $0.16 per share
  - Result: reported results
  source text: Pangaea reported non-GAAP adjusted net income of $10.1 million, or $0.16 per share, on total revenue of $183.9 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1606909/000162828026016596/0001628280-26-016596-index.htm

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