Pangaea Logistics Solutions Ltd (NASDAQ:PANL) Q4 2022 Earnings Conference Call March 16, 2023 8:30 AM ET Company Participants Noel Ryan - Vallum Advisors Mark Filanowski - CEO Gianni Del Signore - CFO & Secretary Mads Petersen - COO Conference Call Participants Liam Burke - B. Riley Poe Fratt - AGP Operator Good morning. My name is Shelby, and I will be your conference operator today. At this time, I would like to welcome everyone to the Pangaea Logistics Solutions Fourth Quarter and Full Year 2022 Earnings ...

Financial Compliance and Liquidity - As of December 31, 2022, the company is in compliance with financial covenants, including a consolidated leverage ratio of not more than 200% and a minimum consolidated net worth of $45 million[224]. - The company has a consolidated minimum liquidity requirement of not less than $18 million, which is crucial for maintaining operational flexibility[224]. - As of December 31, 2022, the company is in compliance with covenants in its debt agreements, including a consolidated leverage ratio of not more than 200% and a minimum consolidated net worth of $45 million[224]. - The company’s secured indebtedness could be accelerated due to cross-default provisions in its credit facilities, making refinancing difficult in the current environment[225]. Growth Strategy and Fleet Management - The company’s growth strategy involves expanding its owned fleet to meet increasing demand, but it may face challenges in financing and integrating new vessels[226]. - The average age of the company's owned drybulk carriers is approximately 9 years, with remaining useful lives ranging from 11 to 24 years[243]. - The company does not currently maintain reserves for vessel replacements and intends to finance replacements through internally generated cash flow or additional borrowings[244]. - The company may face challenges in chartering-in suitable vessels, which is critical for its business strategy, potentially leading to adverse effects on financial performance[215]. - The company may struggle to access capital due to evolving investor expectations regarding ESG practices, which could hinder growth plans[207]. - The company may face challenges in effectively managing its growth strategy, including hiring qualified personnel and integrating new vessels into operations[226]. Revenue and Operational Risks - A significant portion of the company's revenues is derived from Contracts of Affreightment (COAs), which may expose it to operational risks if vessel rates are not correctly anticipated[231]. - The company relies on forward freight agreements (FFAs) to manage market exposure, which could lead to losses if rate movements are not accurately anticipated[228]. - The company may incur significant legal and administrative expenses as a public company, which could strain its resources and affect financial performance[236]. - The company relies on a few significant customers for revenue, with one customer accounting for over 10% of total revenue and the top ten customers representing 45% of total revenue for the year ended December 31, 2022[216]. - The company is exposed to operational risks in the seaborne transportation industry, and inadequate insurance coverage could have a material adverse effect on its financial condition[210]. - The company may face litigation risks that could adversely affect its business and financial results[249]. Currency and Tax Risks - Exposure to currency exchange rate fluctuations may lead to revenue and operating expense volatility, impacting profitability[248]. - There is a potential tax risk of being classified as a "passive foreign investment company" (PFIC), which could lead to unfavorable tax consequences for U.S. shareholders[250][251]. - The company does not anticipate being classified as a PFIC based on its current operations and income composition[252]. - The company may incur a 4% U.S. federal income tax on shipping income if it does not qualify for exemption under section 883 of the Code[256][257]. - If the company or its subsidiaries do not qualify for tax exemption, they could face a 2% U.S. federal income tax on shipping income, negatively impacting earnings[257]. - There is no assurance that the company will not be classified as a PFIC in the future, which could lead to adverse tax consequences for U.S. shareholders[255]. Cybersecurity and Operational Disruptions - Cybersecurity threats and data breaches could disrupt operations and negatively impact financial condition and results[258][263]. - The company relies on information technology systems for operations, and failures or cybersecurity breaches could materially disrupt business and financial condition[258]. - Data protection laws, such as the GDPR, impose significant penalties for breaches, which could adversely affect the company's earnings and operations[261]. - Cyberattacks could disrupt operations and lead to unauthorized information release, materially affecting the company's financial condition[263]. - Labor interruptions could disrupt operations, potentially having a material adverse effect on the company's financial condition and cash flows[204]. Shareholder and Market Considerations - The market price of the company's common shares may experience volatility due to external market factors unrelated to its operating performance[268]. - The company's classified Board of Directors may deter third-party takeover attempts and delay shareholder actions[269]. - Future sales of common shares could lead to a decline in market price and make it difficult to raise funds through equity offerings[264]. - The company may need to raise additional capital in the future, which could dilute existing shareholders' interests[265][267]. - The company may incur additional costs to comply with evolving ESG requirements, which could adversely affect its financial condition[209].

Pangaea Logistics Solutions Ltd (NASDAQ:PANL) Q3 2022 Earnings Conference Call November 10, 2022 8:30 AM ET Company Participants Noel Ryan - Vallum Advisors Mark Filanowski - CEO & Director Gianni Del Signore - CFO & Secretary Mads Petersen - COO Conference Call Participants Charles Fratt - Alliance Global Partners Operator Ladies and gentlemen, greetings, and welcome to the Pangaea Logistics Solutions Third Quarter 2022 Results Conference Call. [Operator Instructions]. It is now my pleasure to introduce yo ...

THIRD QUARTER 2022 CONFERENCE CALL PRESENTATION 1 SAFE HARBOR 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 from those expressed or ...

Commission File Number: 001-36798 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, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) | Name of each ...

SECOND QUARTER 2022 EARNINGS CONFERENCE CALL PRESENTATION 1 SAFE HARBOR 2 This presentation includes 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 from those expr ...

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Q2 2022 Earnings Conference Call August 10, 2022 8:00 AM ET Company Participants Emily Blum - IR, Prosek Partners Mark Filanowski - CEO Gianni Del Signore - CFO Mads Boye Petersen - Chief Operating Officer Conference Call Participants Liam Burke - B. Riley Michael Heim - Noble Capital Markets Poe Fratt - Alliance Global Partners Climent Molins - Value Investor's Edge Operator Good morning. My name is Katie, and I will be your conference operator today. At this ...

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, 2022 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 ...

FIRST QUARTER 2022 EARNINGS CONFERENCE CALL PRESENTATION 1 SAFE HARBOR 2 This presentation includes 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 from those expre ...

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Q1 2022 Earnings Conference Call May 11, 2022 8:00 AM ET Company Participants Mark Filanowski – Chief Executive Officer Mads Boye Petersen – Chief Operating Officer Gianni Del Signore – Chief Financial Officer Emily Blum – Investor Relations, Prosek Partners Conference Call Participants Liam Burke – B. Riley Climent Molins – Value Investor's Edge Poe Fratt – Alliance Global Partners Operator Good morning. My name is Ashley and I will be your conference opera ...