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Pangaea Logistic (NASDAQ:PANL)

7.31 USD

-0.590 7.468%
Last Updated at: 2026-06-03T20:05:00Z

Pangaea Logistic

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. The company's ocean logistics services comprise cargo loading, cargo discharge, vessel chartering, voyage planning, and technical vessel management. It owns and operates a fleet of vessels. The company was founded in 1996 and is headquartered in Newport, Rhode Island.

109 Long Wharf, Newport, RI, United States, 02840

401 846 7790

https://www.pangaeals.com

Employees: 151

Key Executives

Sr. No. Name Title Year Born
1. Mr. Mark L. Filanowski CEO & Director 1954
2. Mr. Gianni Del Signore CFO & Sec. 1983
3. Mr. Mads Boye Petersen Chief Operating Officer NA
4. Mr. Gianni Del Signore CFO & Secretary 1983
5. Mr. Mads Rosenberg Boye Petersen Chief Operating Officer NA

Peers

Sector: Industrials

Industry: Marine Shipping

Company Change (USD) Price (USD) Trailing PE(x) Forward PE(x) Price Sales TTM(x) Price to Book Value(x) Enterprise Value to Revenue(x) Enterprise Value to EBITDA(x)
AMKAF

AP Moeller - Maersk A/S A

 0.000 0.000% 2445 13.590 2500.000 0.661 0.630 0.789 3.809
AMKBY

AP Moeller-Maersk AS

 +0.040 0.316% 12.71 13.250 2500.000 0.649 0.626 0.803 3.877
AMKBF

A.P. Møller - Mærsk A/S

 0.000 0.000% 2305.6001 12.940 2500.000 0.628 0.600 0.789 3.809
CICOY

COSCO SHIPPING Holdings Co Ltd ADR

 0.000 0.000% 9.42 6.610 5.814 0.151 0.854 0.653 3.184

Income Statement

(Currency in USD)
Breakdown 31-12-2022 31-12-2021 31-12-2020 31-12-2019 31-12-2018
Income Before Tax 85.508M 72.374M 12.692M 17.049M 23.982M
Minority Interest -6.016M -5.147M 51.666M 72.826M 71.679M
Net Income 79.491M 67.227M 2.539M 2.065M 17.757M
Selling General Administrative 20.103M 18.966M 15.915M 17.379M 16.484M
Gross Profit 128.937M 97.839M 38.143M 49.973M 53.415M
Reconciled Depreciation 29.49M 22.974M 17.055M 18.529M 17.621M
Ebit 105.508M 78.872M 19.697M 32.909M 37.608M
Ebitda 139.131M 102.976M 40.266M 51.438M 55.229M
Depreciation And Amortization 33.623M 24.104M 20.569M 18.529M 17.621M
Operating Income 105.508M 78.872M 19.697M 32.909M 36.071M
Other Operating Expenses 590.873M 639.232M 360.668M 379.604M 336.039M
Interest Expense 21.49M 11.514M 7.831M 9.278M 8.897M
Tax Provision - - - - -
Interest Income - - - 6.524M 12.766M
Net Interest Income -21.49M -11.514M -7.831M -9.278M -8.897M
Income Tax Expense 8.66M 17.79M 10.154M 14.984M 10.954M
Total Revenue 699.707M 718.104M 382.896M 412.198M 372.97M
Total Operating Expenses 20.103M 18.966M 15.915M 17.379M 16.484M
Cost Of Revenue 570.77M 620.266M 344.753M 362.225M 319.555M
Total Other Income Expense Net -20M -6.499M -7.005M -15.86M -4.052M
Net Income From Continuing Ops 210.061M 184.213M 12.692M 17.049M 58.84M
Net Income Applicable To Common Shares 210.061M 184.213M 11.352M 11.658M 17.757M

Balance Sheet

(Currency in USD)
Breakdown 31-12-2023 31-12-2022 31-12-2021 31-12-2020 31-12-2019
Total Assets 705.18M 748.241M 707.024M 450.404M 479.903M
Intangible Assets 1.777M 46.629M - 80.938M -
Other Current Assets 20.053M 28.267M 46.348M 19.516M 18.771M
Total Liab 334.984M 379.52M 406.343M 215.973M 236.831M
Total Stockholder Equity 323.886M 314.226M 247.202M 182.766M 170.246M
Other Current Liab 30.705M 0.626M 0.214M 1.006M 0.632M
Common Stock 0.005M 0.005M 0.005M 0.005M 0.004M
Capital Stock 0.005M 0.005M 0.005M 0.005M 0.004M
Retained Earnings 159.027M 151.327M 85.663M 23.18M 12.737M
Good Will 3.105M 15.535M - 15.535M -
Other Assets - - 1.99M 0M 16.857M
Cash 88.831M 128.385M 56.209M 46.897M 50.555M
Cash And Equivalents - - - - -
Total Current Liabilities 105.334M 92.212M 111.739M 110.809M 90.855M
Current Deferred Revenue 15.63M 20.884M 32.205M 12.8M 14.376M
Net Debt 175.604M 171.097M 250.753M 112.735M 126.466M
Short Term Debt 52.722M 32.148M 30.166M 64.604M 35.873M
Short Long Term Debt 30.752M 15.783M 15.686M 60.126M 23.324M
Short Long Term Debt Total 264.435M 299.481M 306.962M 159.632M 177.021M
Other Stockholder Equity 164.855M 162.894M 161.534M 159.581M 157.505M
Property Plant Equipment - 143.445M 128.832M 321.982M 335.09M
Total Current Assets 191.826M 222.511M 183.964M 113.032M 126.955M
Long Term Investments 3.813M 259.861M 3.962M 15.391M 15.357M
Short Term Investments 10.207M 484.345M 351.194M 0M -
Net Receivables 53.669M 36.755M 54.259M 29.152M 28.309M
Long Term Debt 68.446M 98.82M 105.837M 54.643M 88.478M
Inventory 19.066M 29.104M 27.148M 15.966M 21.001M
Accounts Payable 6.278M 38.554M 49.154M 32.4M 39.974M
Accumulated Other Comprehensive Income - - - - -76.727M
Non Currrent Assets Other 8695090.118M 6.207M 3.962M 103.341M 2.5M
Non Current Assets Total 513.354M 525.73M 523.06M 337.373M 352.947M
Capital Lease Obligations 165.237M 184.879M 185.439M 57.498M 70.047M
Long Term Debt Total - - - - 141.148M

Cash Flow

(Currency in USD)
Breakdown 31-12-2022 31-12-2021 31-12-2020 31-12-2019 31-12-2018
Investments -233.537M -414.196M -6.888M -46.602M 4.39M
Total Cashflows From Investing Activities -280.743M -457.751M -6.888M -46.602M -21.001M
Total Cash From Financing Activities -34.117M 143.859M -18.606M -0.916M -5.042M
Net Income 85.508M 72.374M 12.692M 17.049M 23.982M
Change In Cash 72.176M 7.812M -4.658M -3.06M 17.583M
Begin Period Cash Flow 56.209M 48.397M 53.055M 56.115M 38.532M
End Period Cash Flow 128.385M 56.209M 48.397M 53.055M 56.115M
Total Cash From Operating Activities 134.801M 61.745M 20.836M 44.459M 40.135M
Depreciation 29.49M 22.974M 17.055M 18.529M 17.621M
Other Cashflows From Investing Activities -4.709M -0.394M -0.628M -0.628M 0.032M
Dividends Paid 13.415M 5.535M 0.535M 8.09M 2.27M
Change To Inventory -1.957M -11.182M 5.035M -2.425M -3.865M
Sale Purchase Of Stock 1.57M 1.507M 1.176M -0.179M -0.051M
Other Cashflows From Financing Activities 10.576M 221.274M 17.469M 36.999M 50837.971M
Capital Expenditures 36.394M 196.654M 2.926M 56.991M 17.541M
Change In Working Capital 11.996M -26.394M -8.087M 0.562M -6.122M
Other Non Cash Items 6.04M -5.855M -4.896M 8.318M -0.12M
Free Cash Flow 98.407M -134.908M 17.909M -12.532M 22.594M

Funds

Sr. No. Name Purchased On Shares
1. iShares Russell 2000 ETF 2 years ago 803735
2. Avantis US Small Cap Value ETF 2 years ago 592055
3. Vanguard Institutional Extnd Mkt Idx Tr 2 years ago 512373
4. DFA US Small Cap Value I 2 years ago 510606
5. Royce Capital Small-Cap Inv 2 years ago 478488
6. Fidelity Small Cap Index 2 years ago 372279
7. iShares Russell 2000 Value ETF 2 years ago 336305
8. EA Bridgeway Omni Small-Cap Value ETF 2 years ago 305783
9. Bridgeway Omni Small-Cap Value N 2 years ago 296300
10. Bridgeway Omni Small-Cap Value 2 years ago 296300
11. Wellington CIF Micro Cap Equity 2 years ago 249839
12. DFA US Targeted Value I 2 years ago 227329
13. Royce Small-Cap Value Service 2 years ago 226065
14. Fidelity Extended Market Index 2 years ago 199372
15. Dimensional US Targeted Value ETF 2 years ago 182953
16. Vanguard Russell 2000 ETF 2 years ago 135753
17. State St Russell Sm Cap® Indx SL Cl I 2 years ago 134300
18. PGIM Quant Solutions Small-Cap Val Z 2 years ago 130400
19. State St Russell Sm/Mid Cp® Indx NL Cl C 2 years ago 113136
20. DFA US Small Cap I 2 years ago 110534

Institutions

Sr. No. Name Purchased On Shares
1. Rockland Trust Co 2 years ago 8548361
2. BlackRock Inc 2 years ago 2516994
3. Dimensional Fund Advisors, Inc. 2 years ago 1741313
4. Wellington Management Company LLP 2 years ago 1527543
5. Cable Car Capital LLC 2 years ago 890071
6. Geode Capital Management, LLC 2 years ago 770784
7. Royce & Associates, LP 2 years ago 704553
8. Vanguard Group Inc 2 years ago 701875
9. American Century Companies Inc 2 years ago 636259
10. Bridgeway Capital Management, LLC 2 years ago 594787
11. State Street Corporation 2 years ago 577814
12. Amvescap Plc. 2 years ago 564243
13. Millennium Management LLC 2 years ago 479580
14. Renaissance Technologies Corp 2 years ago 460300
15. Goldman Sachs Group Inc 2 years ago 395546
16. Acadian Asset Management LLC 2 years ago 312312
17. Northern Trust Corp 2 years ago 288931
18. Two Sigma Advisers, LLC 2 years ago 287000
19. Empowered Funds, LLC 2 years ago 275922
20. Arrowstreet Capital Limited Partnership 2 years ago 244981
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