2024 Q4 Form 10-Q Financial Statement

#000160690924000118 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $153.1M
YoY Change 12.9%
Cost Of Revenue $110.5M
YoY Change 25.39%
Gross Profit $42.65M
YoY Change -10.41%
Gross Profit Margin 27.85%
Selling, General & Admin $6.042M
YoY Change 9.85%
% of Gross Profit 14.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.719M
YoY Change -3.51%
% of Gross Profit 18.1%
Operating Expenses $138.1M
YoY Change 19.16%
Operating Profit $15.00M
YoY Change -23.89%
Interest Expense -$9.769M
YoY Change -1076.95%
% of Operating Profit -65.12%
Other Income/Expense, Net -$8.944M
YoY Change -1967.66%
Pretax Income $6.057M
YoY Change -70.01%
Income Tax
% Of Pretax Income
Net Earnings $5.111M
YoY Change -72.91%
Net Earnings / Revenue 3.34%
Basic Earnings Per Share $0.11
Diluted Earnings Per Share $0.11
COMMON SHARES
Basic Shares Outstanding 46.90M shares 46.90M shares
Diluted Shares Outstanding 46.01M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $93.12M
YoY Change 6.54%
Cash & Equivalents $93.12M
Short-Term Investments
Other Short-Term Assets $4.824M
YoY Change 37.07%
Inventory $26.74M
Prepaid Expenses $6.987M
Receivables $44.16M
Other Receivables $10.61M
Total Short-Term Assets $196.2M
YoY Change -1.13%
LONG-TERM ASSETS
Property, Plant & Equipment $514.6M
YoY Change 7.21%
Goodwill $3.105M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $4.971M
YoY Change 21.24%
Other Assets $6.107M
YoY Change 0.56%
Total Long-Term Assets $552.9M
YoY Change 4.3%
TOTAL ASSETS
Total Short-Term Assets $196.2M
Total Long-Term Assets $552.9M
Total Assets $749.2M
YoY Change 2.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.96M
YoY Change 28.61%
Accrued Expenses $17.31M
YoY Change 10.23%
Deferred Revenue $16.08M
YoY Change 16.55%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $16.54M
YoY Change -47.51%
Total Short-Term Liabilities $95.91M
YoY Change -16.8%
LONG-TERM LIABILITIES
Long-Term Debt $117.0M
YoY Change 64.92%
Other Long-Term Liabilities $16.36M
YoY Change -11.59%
Total Long-Term Liabilities $133.4M
YoY Change 49.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $95.91M
Total Long-Term Liabilities $133.4M
Total Liabilities $229.3M
YoY Change 11.99%
SHAREHOLDERS EQUITY
Retained Earnings $165.4M
YoY Change 1.77%
Common Stock $4.692K
YoY Change 0.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $332.6M
YoY Change
Total Liabilities & Shareholders Equity $749.2M
YoY Change 2.82%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $5.111M
YoY Change -72.91%
Depreciation, Depletion And Amortization $7.719M
YoY Change -3.51%
Cash From Operating Activities $28.45M
YoY Change 74.55%
INVESTING ACTIVITIES
Capital Expenditures $57.05M
YoY Change 28425.89%
Acquisitions
YoY Change
Other Investing Activities $8.838M
YoY Change -836.53%
Cash From Investing Activities -$48.21M
YoY Change 3608.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 34.93M
YoY Change -393.56%
NET CHANGE
Cash From Operating Activities 28.45M
Cash From Investing Activities -48.21M
Cash From Financing Activities 34.93M
Net Change In Cash 15.17M
YoY Change 389.44%
FREE CASH FLOW
Cash From Operating Activities $28.45M
Capital Expenditures $57.05M
Free Cash Flow -$28.60M
YoY Change -277.64%

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22716256 usd
us-gaap Profit Loss
ProfitLoss
26359872 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
22609231 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
22546350 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
739522 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
701275 usd
panl Amortizationof Prepaid Rent1
AmortizationofPrepaidRent1
91399 usd
panl Amortizationof Prepaid Rent1
AmortizationofPrepaidRent1
91048 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-1804388 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
2760059 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1445750 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
417636 usd
panl Earnings Attributable To Noncontrolling Interest Recorded As Interest Expense
EarningsAttributableToNoncontrollingInterestRecordedAsInterestExpense
420826 usd
panl Earnings Attributable To Noncontrolling Interest Recorded As Interest Expense
EarningsAttributableToNoncontrollingInterestRecordedAsInterestExpense
1027798 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1671197 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
933449 usd
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
0 usd
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
-1172196 usd
panl Payment For Drydocking Costs
PaymentForDrydockingCosts
2999998 usd
panl Payment For Drydocking Costs
PaymentForDrydockingCosts
3368800 usd
us-gaap Share Based Compensation
ShareBasedCompensation
2313185 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1393514 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2563160 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
17676862 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
10186517 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-2757206 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5637302 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-885264 usd
panl Increase Decrease In Account Payable Accrued Expenses And Other Current Liabilities
IncreaseDecreaseInAccountPayableAccruedExpensesAndOtherCurrentLiabilities
11297723 usd
panl Increase Decrease In Account Payable Accrued Expenses And Other Current Liabilities
IncreaseDecreaseInAccountPayableAccruedExpensesAndOtherCurrentLiabilities
3324586 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
450565 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-7086632 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
46407885 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
29882569 usd
panl Payment For Purchase Of Vessels
PaymentForPurchaseOfVessels
57530543 usd
panl Payment For Purchase Of Vessels
PaymentForPurchaseOfVessels
27217355 usd
panl Payments To Acquire And Write Off Of Productive Assets
PaymentsToAcquireAndWriteOffOfProductiveAssets
160231 usd
panl Payments To Acquire And Write Off Of Productive Assets
PaymentsToAcquireAndWriteOffOfProductiveAssets
0 usd
panl Proceedsfrom Saleof Vessel
ProceedsfromSaleofVessel
0 usd
panl Proceedsfrom Saleof Vessel
ProceedsfromSaleofVessel
8037804 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
7200000 usd
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
510000 usd
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
1637500 usd
panl Payments For Proceeds From Non Controlling Interest
PaymentsForProceedsFromNonControllingInterest
171699 usd
panl Payments For Proceeds From Non Controlling Interest
PaymentsForProceedsFromNonControllingInterest
275000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-57352473 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-25017051 usd
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
64150000 usd
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0 usd
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
1228714 usd
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
0 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
28963663 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
12435039 usd
panl Proceeds From Finance Lease
ProceedsFromFinanceLease
8000000 usd
CY2023 panl Proceeds From Finance Lease
ProceedsFromFinanceLease
0 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
18653782 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
12211158 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
2333334 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
5000000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
13944264 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
13618424 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
127283 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
2000000 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
2500000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5026243 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-45891904 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5918345 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-41026386 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
99037866 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
128384606 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93119521 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
87358220 usd
us-gaap Basis Of Accounting
BasisOfAccounting
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited consolidated financial statements have been prepared in accordance with United States ("U.S.") generally accepted accounting principles ("GAAP") for interim financial information and the instructions to Form 10-Q. Accordingly, these interim financial statements do not include all of the information and note disclosures required by U.S. GAAP for complete financial statements. The accompanying financial information reflects all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the interim period results. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023.</span></div><div style="margin-bottom:8pt;text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the percentage completion of voyages in process, the establishment of the allowance for credit losses and the estimate of salvage value used in determining vessel depreciation expense. Actual results could differ from those estimates.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of credit risk</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s accounts receivable balance includes outstanding receivables from two significant customers. These balances com</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">prise 28% and 14% of</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> accounts receivable, respectively, as of September 30, 2024.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Advance hire, prepaid expenses and other current assets</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Advance hire, prepaid expenses and other current assets were comprised of the following: </span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:63.392%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.379%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.146%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.379%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.004%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30, 2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">December 31, 2023</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(unaudited)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Advance hire</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3,947,918</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,509,313 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prepaid expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6,987,445</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,072,634 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accrued receivables</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10,607,731</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,777,596 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash margin on deposit</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,226,396</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,751,257 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Derivative assets</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,626,239</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,384,137 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,823,921</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,845,309 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">32,219,650</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28,340,246 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Goodwill</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We conducted our annual qualitative assessment of goodwill as of June 1, 2024, which indicated that it was more likely than not that the fair value of the Company’s goodwill exceeded its carrying amount, thus no impairment was indicated. As of September 30, 2024, no events or changes in circumstances occurred that would necessitate a further impairment review.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Other non-current Assets</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other non-current assets were comprised of the following:</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:63.682%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.379%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.146%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.379%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.714%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30, 2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">December 31, 2023</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(unaudited)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Intangible Assets, net of accumulated amortization of $1,114,571 and $474,038 as of September 30, 2024 and December 31, 2023, respectively</span></div></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,136,530</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,777,063 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Investment in Seamar Management</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">479,999</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">706,655 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Investment in Bay Stevedoring LLC</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,856,271</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,667,093 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Investment in Narragansett Bulk Carriers (US) Corp</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">519,975</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">519,975 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other investments</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,114,423</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">919,509 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6,107,198</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,590,295 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Accounts payable, accrued expenses and other current liabilities</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accounts payable, accrued expenses and other current liabilities were comprised of the following:</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:63.682%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.379%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.146%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.379%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.714%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30, 2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">December 31, 2023</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(unaudited)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounts payable</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">11,961,040</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,277,693 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accrued expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">13,991,724</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,038,418 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Bunkers suppliers</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7,672,260</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,393,533 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Charter hire payable</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10,838,685</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,112,701 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other accrued liabilities</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3,314,298</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,013,917 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">47,778,007</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35,836,262 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Leases</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Time charter in contracts</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company charters in vessels to supplement its owned fleet to support its voyage charter operations. The Company hires vessels under time charters with third party vessel owners, and recognizes the charter hire payments as an expense on a straight-line basis over the term of the charter. Charter hire payments are typically made in advance, and the unrecognized portion is reflected as advance hire in the accompanying consolidated balance sheets. Under the time charters, the vessel owner is responsible for the vessel operating costs such as crews, maintenance and repairs, insurance, and stores. As allowed by a practical expedient under ASC 842, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Leases</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ("ASC 842"), the Company made an accounting policy election by class of underlying asset for leases with a term of 12 months or less, to forego recognizing a right-of-use asset and lease liability on its balance sheet. For the quarter ending September 30, 2024, the Company did not have any time charter in contracts with terms greater than 12 months, as such charter hire expense presented on the consolidated statements of income are lease expenses for chartered in contracts less than 12 months.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Time charter out contracts</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Charter revenue is earned when the Company lets a vessel it owns or operates to a charterer for a specified period of time. Charter revenue is based on the agreed rate per day. The charterer has the power to direct the use and receives substantially all of the economic benefits from the use of the vessel. The Company determined that all time charter contracts are considered operating leases and therefore fall under the scope of ASC 842 because: (i) the vessel is an identifiable asset; (ii) the Company does not have substantive substitution rights; and (iii) the charterer has the right to control the use of the vessel during the term of the contract and derives the economic benefits from such use.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At September 30, 2024, the Company had four vessels chartered to customers under time charters that contained a lease. These four leases varied in original length from 35 days to 123 days. The lease payments due under these arrangements totaled approximately $1,302,000 and each of the time charters were due to be completed in 35 days or less. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At September 30, 2023, the Company had two vessels chartered to customers under time charters that included a lease. These two leases varied in original length from 30 days to 32 days. The lease payments due under this arrangement totaled approximately $247,000 and each time charter was due to be completed in 10 days or less. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company does not have any sales-type or direct financing leases.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Office leases</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has four non-cancelable office and office equipment leases. The resulting lease assets and liabilities are not material.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Ground Lease</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The company entered into a 10-year ground lease agreement with the Tampa Port Authority, commencing on April 22, 2024. According to ASC 842, this lease will be accounted for as a right-of-use (ROU) asset and a lease liability on the balance sheet. The initial measurement of the ROU asset and lease liability will be based on the present value of the lease payments over the lease term.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Recognition</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In a voyage charter contract, the charterer hires the vessel to transport a specific agreed-upon cargo for a single voyage, which may contain multiple load ports and discharge ports. The consideration in such a contract is determined on the basis of a freight rate per metric ton of cargo carried or occasionally on a lump sum basis. The charter party generally has a minimum amount of cargo. The charterer is liable for any short loading of cargo or "dead" freight. The voyage contract generally has standard payment terms of 95% freight paid within three days after completion of loading. The voyage charter party generally has a "demurrage" or "despatch" clause. As per this clause, the charterer reimburses the Company for any delays that exceed the agreed to laytime at the ports visited, with the amounts recorded as demurrage revenue. Conversely, the charterer is given credit if the loading/discharging activities happen within the allowed laytime which is known as despatch and results in a reduction of revenue. In a voyage charter contract, the performance obligations begin to be satisfied once the vessel begins loading the cargo. The Company determined that its voyage charter contracts consist of a single performance obligation of transporting the cargo within a specified time period. Therefore, the performance obligation is met evenly as the voyage progresses, and the revenue is recognized on a straight-line basis over the voyage days from the commencement of the loading of cargo to completion of discharge.</span></div><div style="text-align:justify"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The voyage contracts are considered service contracts which fall under the provisions of ASC 606, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Revenue from Contracts with Customers </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">because the Company, as the shipowner, retains control over the operations of the vessel such as directing the routes taken or the vessel speed. The voyage contracts generally have variable consideration in the form of demurrage or despatch. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During time charter agreements, the Company is paid to provide transportation services on a per day basis for a specified period of time. Revenues from time charters are earned and recognized on a straight-line basis over the term of the charter, the charterers have substantive decision-making rights to direct how and for what purpose the vessel is used. As such, the Company has identified that time charter agreements contain a lease in accordance with ASC 842. Revenue is not earned when vessels are offhire.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In a stevedore service contract, the Company is paid to provide cargo handling services on a per unit basis for a specified quantity of cargo. The consideration in such a contract is determined on the basis of a rate per unit of cargo handled. The contract </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">may contain minimum quantities. Revenues from stevedore service contracts are earned and recognized on a per unit basis as completed over the performance period. </span></div><div style="text-align:justify"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Deferred Revenue</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All deferred revenue recorded on the consolidated balance sheets as of December 31, 2023, was recognized during the nine months ended September 30, 2024.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Recently Issued Accounting Pronouncements Not Yet Adopted</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” which provides optional expedients and exceptions for applying generally accepted accounting principles (“GAAP”) to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued ASU No. 2021-01, “Reference Rate Reform (Topic 848): Scope,” which clarified that certain optional expedients and exceptions in Topic 848 apply to derivatives that are affected by the discounting transition due to reference rate reform. In December 2022, the FASB issued ASU No. 2022-06, "Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848," which defers the sunset date of Topic 848 from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief under Topic 848. As of September 30, 2024, the Company no longer holds any LIBOR-based contracts or financial instruments; therefore, the relief provisions under Topic 848 have no impact on our consolidated financial statements. The Company will continue to monitor any future guidance from the FASB related to reference rate reform.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which amends the existing segment reporting guidance (ASC Topic 280 — Segment Reporting (“ASC 280”)) to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss, an amount for other segment items by reportable segment and a description of its composition, the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. In addition, companies with a single reporting segment will have to provide all of the disclosures required by ASC 280, including the significant segment expense disclosures.</span></div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact of our pending adoption of this standard on its financial statement disclosures.</span>
CY2024Q3 panl Advance Hire
AdvanceHire
3947918 usd
CY2023Q4 panl Advance Hire
AdvanceHire
2509313 usd
CY2024Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
6987445 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
7072634 usd
CY2024Q3 panl Accrued Receivable
AccruedReceivable
10607731 usd
CY2023Q4 panl Accrued Receivable
AccruedReceivable
5777596 usd
CY2024Q3 panl Margin Deposit Asset Liability
MarginDepositAssetLiability
4226396 usd
CY2023Q4 panl Margin Deposit Asset Liability
MarginDepositAssetLiability
3751257 usd
CY2024Q3 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
1626239 usd
CY2023Q4 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
3384137 usd
CY2024Q3 us-gaap Other Assets Current
OtherAssetsCurrent
4823921 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
5845309 usd
CY2024Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
32219650 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
28340246 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1114571 usd
CY2024Q3 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
1136530 usd
CY2023Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
1777063 usd
CY2024Q3 us-gaap Investments And Other Noncurrent Assets
InvestmentsAndOtherNoncurrentAssets
6107198 usd
CY2023Q4 us-gaap Investments And Other Noncurrent Assets
InvestmentsAndOtherNoncurrentAssets
5590295 usd
CY2024Q3 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
11961040 usd
CY2023Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
6277693 usd
CY2024Q3 panl Accrued Voyage Expenses
AccruedVoyageExpenses
13991724 usd
CY2023Q4 panl Accrued Voyage Expenses
AccruedVoyageExpenses
14038418 usd
CY2024Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
7672260 usd
CY2023Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
4393533 usd
CY2024Q3 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
10838685 usd
CY2023Q4 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
8112701 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3314298 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3013917 usd
CY2024Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
47778007 usd
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
35836262 usd
CY2024Q3 panl Number Of Vessels Leased To Customers
NumberOfVesselsLeasedToCustomers
4 numberofvessel
CY2024Q3 panl Number Of Vessels Leased To Customers
NumberOfVesselsLeasedToCustomers
4 numberofvessel
us-gaap Operating Lease Payments
OperatingLeasePayments
1302000 usd
panl Time Charter Term To Completion
TimeCharterTermToCompletion
P35D
us-gaap Operating Lease Payments
OperatingLeasePayments
247000 usd
panl Time Charter Term To Completion
TimeCharterTermToCompletion
P10D
CY2024Q3 panl Number Of Noncancelable Office Leases
NumberOfNoncancelableOfficeLeases
4 lease
CY2024Q3 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
32166579 usd
CY2023Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
38556005 usd
CY2024Q3 us-gaap Time Deposits At Carrying Value
TimeDepositsAtCarryingValue
15029874 usd
CY2023Q4 us-gaap Time Deposits At Carrying Value
TimeDepositsAtCarryingValue
10206500 usd
CY2024Q3 us-gaap Cash And Due From Banks
CashAndDueFromBanks
45923068 usd
CY2023Q4 us-gaap Cash And Due From Banks
CashAndDueFromBanks
50275361 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
93119521 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
99037866 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
99037866 usd
CY2024Q3 panl Vessels And Vessel Improvements Property Plant And Equipement Gross
VesselsAndVesselImprovementsPropertyPlantAndEquipementGross
510600935 usd
CY2023Q4 panl Vessels And Vessel Improvements Property Plant And Equipement Gross
VesselsAndVesselImprovementsPropertyPlantAndEquipementGross
470083516 usd
CY2024Q3 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
3980156 usd
CY2023Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
4181655 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
514581091 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
474265171 usd
CY2024Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
29134488 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
30393823 usd
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
135437812 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
100251475 usd
CY2024Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1886820 usd
CY2023Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1053440 usd
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
133550992 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
99198035 usd
CY2024Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
16536650 usd
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
30751726 usd
CY2024Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
117014342 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
68446309 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
4118797 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
16576196 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
16738201 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
46055191 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
11422630 usd
CY2024Q3 panl Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
40526797 usd
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
135437812 usd
CY2024Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
157398587 usd
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
167674003 usd
CY2024Q3 panl Finance Lease Liability Issuance Costs
FinanceLeaseLiabilityIssuanceCosts
2092825 usd
CY2023Q3 panl Finance Lease Liability Issuance Costs
FinanceLeaseLiabilityIssuanceCosts
2437102 usd
CY2024Q3 panl Finance Lease Liability Net
FinanceLeaseLiabilityNet
155305762 usd
CY2023Q3 panl Finance Lease Liability Net
FinanceLeaseLiabilityNet
165236901 usd
CY2024Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
14238935 usd
CY2023Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
21970124 usd
CY2024Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
141066827 usd
CY2023Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
143266777 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
6580334 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
25819766 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
24349214 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
25225485 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
29867261 usd
CY2024Q3 panl Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
118335906 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
230177966 usd
CY2024Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
72779379 usd
CY2024Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
14238935 usd
CY2024Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
141066827 usd
CY2024Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-5961224 usd
CY2023Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
4531912 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-1804388 usd
panl Noncancelable Office Lease Noncancelable Period
NoncancelableOfficeLeaseNoncancelablePeriod
P6M
CY2024Q3 us-gaap Lease Cost
LeaseCost
46000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
46000 usd
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
17936540 usd
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
19974390 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
2000000 usd
CY2023 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
2500000 usd
panl Earnings Attributable To Noncontrolling Interest Recorded As Interest Expense
EarningsAttributableToNoncontrollingInterestRecordedAsInterestExpense
420826 usd
CY2023 panl Earnings Attributable To Noncontrolling Interest Recorded As Interest Expense
EarningsAttributableToNoncontrollingInterestRecordedAsInterestExpense
462150 usd
CY2024Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
16357366 usd
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
17936540 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
5111040 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
18868291 usd
us-gaap Net Income Loss
NetIncomeLoss
20467991 usd
us-gaap Net Income Loss
NetIncomeLoss
25187098 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45279813 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44775438 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45257462 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44754620 shares
CY2024Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
731589 shares
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
306230 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
690086 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
353419 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46011402 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45081668 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45947548 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45108039 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.42
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.45
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.56
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.42
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.45
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.56
CY2024Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
1772889 usd
CY2024Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
1844100 usd
CY2024Q3 us-gaap Goodwill
Goodwill
3104800 usd
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
2251100 usd
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
8972889 usd
CY2024Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
326888 usd
us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
9299777 usd

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