Pangaea Logistics Solutions Ltd.
pangaeals.comWhat Do They Do?
Provides drybulk ocean transportation and related port logistics services to industrial customers moving bulk commodities.
10-K for FY2025, filed Mar 16, 2026Pangaea Logistics Solutions Ltd. and its subsidiaries collectively, Pangaea or the Company, provide seaborne drybulk logistics and…View ↗
The Company provides ocean transportation services utilizing a fleet of ocean-going motor vessels (“m/v”) in the Handymax, Supramax…View ↗
The Company’s port, projects, and logistics services include cargo loading, cargo discharge, and port and terminal services to vessel and…View ↗
How Do They Make Money?
Voyage transport is the main source of revenue: customers pay per ton or a lump sum for cargo moved between ports, and charges are earned during the voyage. The company also rents vessels by the day and charges per unit for port cargo handling.
10-K for FY2025, filed Mar 16, 2026The Company’s performance obligation is to transport the cargo from the load port to the discharge port. Consideration under these…View ↗
Revenue is recognized over time using the input method, proportionate to the days elapsed relative to the total estimated duration of the…View ↗
Charter Revenue. Charter revenue is earned when the Company lets a vessel it owns or operates to a charterer for a specified period of…View ↗
Terminal & Stevedore Revenue. Terminal & Stevedore revenue is derived from inbound and outbound cargo handling services at ports which the…View ↗
-
10-K for FY2025, filed Mar 16, 2026
FY2025 revenue by product or service ↗
$632M
-
10-K for FY2025, filed Mar 16, 2026
$632M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Voyage revenue
Sold outright
10-K for FY2025, filed Mar 16, 2026 |
91%
FY2022: 91%
|
Voyage revenue, FY2025
$577.5M Sources
|
Sold outright |
|
Charter revenue
Recurring
|
6.2%
FY2022: 8.5%
|
Charter revenue, FY2025
$39.3M Sources
|
Recurring |
|
Terminal & Stevedore Revenue
Usage-based
|
2.4%
FY2022: 0.0%
|
Terminal & Stevedore Revenue, FY2025
$15.2M Sources
|
Usage-based |
Who Are Their Customers?
Serves industrial customers moving drybulk commodities, as well as vessel and cargo owners using its loading, discharge, and port services. For some clients, it acts as their ocean logistics department, handling scheduling and port operations.
10-K for FY2025, filed Mar 16, 2026
Do Revenues Turn Into Profits?
Yes. It kept 3 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Mar 16, 2026
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 10, 2026
$10.2MView ↗
- ▲ Now profitable
- vs −$2.7M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 10, 2026
Open tableView ↗
Shrinking. Revenue fell 12% in 4 years, from $718.1M in FY2021 to $632M in FY2025, about 3% a year.
Loading...
