Pangaea Logistics Solutions(US:PANL)2025-08-08 12:00Financial Performance - The company reported a GAAP net loss of $2.7 million, or $0.04 per share, in 2Q25 [7] - The adjusted net loss was $1.4 million, or $0.02 per share [7] - Adjusted EBITDA decreased by $0.6 million year-over-year to $15.3 million in 2Q25 [8] Capital Allocation - The company repurchased $1 million in shares of common stock at an average price of $4.96 per share during 2Q25 [9] - The company announced the sale of the Handysized Strategic Endeavor for $7.7 million and the purchase of the remaining 49% equity ownership of Seamar Management for $2.7 million [9] - Financing process began for the Strategic Spirit and Strategic Vision, each for $9 million, expected to close in Q3 2025 [9] Operational Highlights - TCE rates outperformed benchmark Panamax, Supramax and Handysize indices by 17% [6] - As of August 6, 2025, 3,671 days were booked at an average of $14,272/day [9] Vessel Acquisitions - The company purchased 7 vessels for $245 million in 2021 & 2022 [17] - The company purchased 3 vessels for $83 million & Acquired 15 vessels for 1806 million shares in 2023 & 2024 [17]