Pangaea Logistics Solutions Q4 Earnings Call Highlights

Chief Financial Officer Gianni Del Signore provided additional detail on the quarter. Fourth quarter TCE rates were $17,773 per day, which he said represented a 19% premium over average published market rates for Panamax, Supramax, and Handysize vessels during the period. Adjusted EBITDA was approximately $29 million, up about $5 million year-over-year, driven by a 25% increase in shipping days and an 11% increase in TCE earned.Management also pointed to a meaningful increase in scale. Total shipping days r ...