PANGAEA 4Q23 Earnings Call Presentation Safe Harbor 4Q23 Earnings Call Presentation This presentation may include certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Pangaea's and managements' current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially fr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36798 PANGAEA LOGISTICS SOLUTIONS, LTD. (Exact Name of Registrant as Specified in Its Charter) Bermuda 98-1205464 (I.R.S. Employer Identification Number) (State or Other Jurisdi ...

Pangaea Logistics Solutions Ltd. Reports Financial Results for the Three Months and Year Ended December 31, 2023 NEWPORT, RI - March 13, 2024 - Pangaea Logistics Solutions Ltd. ("Pangaea" or the "Company") (NASDAQ: PANL), a global provider of comprehensive maritime logistics solutions, announced today its results for the three months and year ended December 31, 2023. FOURTH QUARTER 2023 RESULTS FULL YEAR 2023 RESULTS For the fourth quarter ended December 31, 2023, Pangaea reported non-GAAP adjusted net inco ...

Pangaea Logistics Solutions Ltd (NASDAQ:PANL) Q3 2023 Results Conference Call November 9, 2023 8:00 AM ET Company Participants Noel Ryan - IR Mark Filanowski - CEO Gianni Signore - CFO Mads Petersen - COO Conference Call Participants Liam Burke - B. Riley Poe Fratt - Alliance Global Partners Operator Good morning. My name is Britney, and I will be your conference operator today. At this time, I would like to welcome everyone to the Pangaea Logistics Solutions Third Quarter 2023 Earnings Teleconference. Toda ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36798 PANGAEA LOGISTICS SOLUTIONS LTD. (Exact name of Registrant as specified in its charter) (State or other jurisdiction ...

Pangaea Logistics Solutions Ltd (NASDAQ:PANL) Q2 2023 Earnings Conference Call August 10, 2023 8:00 AM ET Company Participants Noel Ryan - Vallum Advisors Mark Filanowski - CEO & Director Gianni Del Signore - CFO & Secretary Mads Petersen - COO Conference Call Participants Liam Burke - B. Riley Securities Poe Fratt - Alliance Global Partners Operator Good morning. My name is Chelsea, and I will be your conference operator today. At this time, I would like to welcome everyone to the Pangaea Logistics Solutio ...

Safe Harbor 2Q23 Earnings Call Presentation 2 Superior TCE rate driven by long-term COAs and cargo-focused strategy resulted in TCE rates exceeding the benchmark average Baltic Panamax and Supramax indices by 49%+ in 2Q23. Completed the purchase of the Bulk Prudence, a 61,00 dwt Ultramax vessel for $26.7 million of cash. The purchase takes the total number of owned vessels to 25. Completed the strategic acquisition of additional Port and Terminal operations in key U.S markets for $7.2 million. Continue to f ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36798 PANGAEA LOGISTICS SOLUTIONS LTD. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of in ...

Pangaea Logistics Solutions Ltd (NASDAQ:PANL) Q1 2023 Earnings Conference Call May 11, 2023 8:00 AM ET Company Participants Noel Ryan - Vallum Advisors Mark Filanowski - CEO & Director Gianni Del Signore - CFO & Secretary Mads Petersen - COO Conference Call Participants Liam Burke - B. Riley Securities Charles Fratt - Alliance Global Partners Operator Good morning. My name is Raza, and I will be your conference operator today. At this time, I would like to welcome everyone to the Pangaea Logistics First Qua ...

Revenue Performance - Voyage revenue for Q1 2023 was $107,950, down 39% from $176,337 in Q1 2022[85] - Total revenue decreased to $113,699 in Q1 2023, a decline of 41% compared to $191,762 in Q1 2022[85] - Total revenue for Q1 2023 was $113.7 million, a 41% decrease from $191.8 million in Q1 2022[96] - Voyage revenues fell by 39% to $108.0 million in Q1 2023 compared to $176.3 million in Q1 2022[97] - Charter revenues decreased by 63% to $5.7 million in Q1 2023 from $15.4 million in Q1 2022[98] Net Income and EBITDA - Net income attributable to Pangaea Logistics Solutions Ltd. was $3,474 in Q1 2023, down 83% from $20,168 in Q1 2022[85] - Net income attributable to Pangaea was approximately $3.5 million for Q1 2023, down from $20.2 million in Q1 2022[96] - Adjusted EBITDA for Q1 2023 was $16,238, a decrease of 48% from $31,296 in Q1 2022[89] TCE Rates and Market Conditions - TCE rates fell 46% to $14,372 in Q1 2023 from $26,472 in Q1 2022[94] - Average TCE rates decreased to $14,372 in Q1 2023 from $26,472 in Q1 2022[96] - The Baltic Dry Index averaged 1,020 in Q1 2023, down approximately 47% from the previous quarter and 47% from an average of 1,939 in Q1 2022[92] - Average market rates for Supramax and Panamax vessels decreased approximately 57% from $22,637 in Q1 2022 to $9,702 in Q1 2023[92] Cash Flow and Operating Activities - Net cash provided by operating activities was $11,572 in Q1 2023, down from $32,062 in Q1 2022[89] - Net cash provided by operating activities was $11.6 million in Q1 2023, down from $32.1 million in Q1 2022[111] - The company had $129.1 million in cash and cash equivalents at the end of Q1 2023[96] Expenses - Voyage expenses were $56.8 million in Q1 2023, a 13% decrease from $65.3 million in Q1 2022[99] - Charter hire expenses dropped 71% to $22.6 million in Q1 2023 from $77.7 million in Q1 2022[100] Debt and Equity - Total secured debt decreased to $289,922 as of March 31, 2023, from $299,481 as of December 31, 2022[87] - Total shareholders' equity was $363,192 as of March 31, 2023, down from $368,722 as of December 31, 2022[87] Capital Expenditures - Capital expenditures included approximately $1.3 million for drydocking costs in Q1 2023[116]