Company Quick10K Filing
Pangaea Logistics Solutions
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 44 $154
10-K 2020-03-23 Annual: 2019-12-31
10-Q 2019-11-07 Quarter: 2019-09-30
10-Q 2019-08-12 Quarter: 2019-06-30
10-Q 2019-05-15 Quarter: 2019-03-31
10-K 2019-03-20 Annual: 2018-12-31
10-Q 2018-11-08 Quarter: 2018-09-30
10-Q 2018-08-07 Quarter: 2018-06-30
10-Q 2018-05-10 Quarter: 2018-03-31
10-K 2018-03-21 Annual: 2017-12-31
10-Q 2017-11-09 Quarter: 2017-09-30
10-Q 2017-08-14 Quarter: 2017-06-30
10-Q 2017-05-10 Quarter: 2017-03-31
10-K 2017-03-23 Annual: 2016-12-31
10-Q 2016-11-10 Quarter: 2016-09-30
10-Q 2016-08-15 Quarter: 2016-06-30
10-Q 2016-05-11 Quarter: 2016-03-31
10-K 2016-03-23 Annual: 2015-12-31
10-Q 2015-11-12 Quarter: 2015-09-30
10-Q 2015-08-13 Quarter: 2015-06-30
10-Q 2015-05-15 Quarter: 2015-03-31
10-K 2015-03-31 Annual: 2014-12-31
10-Q 2014-11-14 Quarter: 2014-09-30
8-K 2020-03-23 Earnings, Exhibits
8-K 2019-11-07 Other Events, Exhibits
8-K 2019-11-07 Earnings, Exhibits
8-K 2019-10-01 Regulation FD, Exhibits
8-K 2019-08-12 Earnings, Regulation FD, Exhibits
8-K 2019-08-12 Other Events, Exhibits
8-K 2019-08-12 Shareholder Vote
8-K 2019-07-22 Regulation FD, Exhibits
8-K 2019-05-20 Other Events, Exhibits
8-K 2019-05-15 Earnings, Regulation FD, Exhibits
8-K 2019-05-06 Regulation FD, Exhibits
8-K 2019-03-20 Earnings, Regulation FD, Exhibits
8-K 2018-11-27 Regulation FD, Exhibits
8-K 2018-11-08 Earnings, Regulation FD, Exhibits
8-K 2018-10-29 Regulation FD, Exhibits
8-K 2018-08-09 Shareholder Vote
8-K 2018-08-07 Earnings, Regulation FD, Exhibits
8-K 2018-05-10 Earnings, Regulation FD, Exhibits
8-K 2018-04-17 Regulation FD, Exhibits
8-K 2018-03-21 M&A, Regulation FD, Exhibits
8-K 2018-02-14 Regulation FD, Exhibits

Pangaea Logistics Solutions Financials

PANL Metrics, Comps, Filings

Annual | Quarterly

Business

Pangaea Logistics Solutions Ltd. and its subsidiaries (collectively, "Pangaea" or the "Company") provides seaborne drybulk logistics and transportation services. Pangaea utilizes its logistics expertise to service a broad base of industrial customers who require the transportation of a wide variety of drybulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone. The Company addresses the logistics needs of its customers by undertaking a comprehensive set of services and activities, including cargo loading, cargo discharge, vessel chartering, voyage planning, and vessel technical management. The Company participated in the development and expansion of a major port on the United States' east coast and delivered approximately 3.6 million tons of construction material to the port under the contract.

The Company provides logistics and transportation services to clients utilizing an ocean-going fleet of motor vessels ("m/v") in the Handymax, Supramax, Ultramax and Panamax segments. At any time, this fleet may be comprised of 30-50 vessels that are chartered-in on a short-term basis for operation under our contract business. In addition, the Company has invested in 20 vessels which are wholly-owned or partially-owned through joint ventures. The Company uses this fleet to transport approximately 26 million tons of cargo annually to nearly 250 ports around the world, averaging approximately 45 vessels in service daily in 2018 and 53 during 2017.

The Company's ocean logistics services provide cargo loading, cargo discharge, vessel chartering, voyage planning, and technical vessel management to vessel and cargo owners. Our logistics capabilities provide a wide array of services which allow our customers to extend their own services, to more efficiently transport their cargo, and to extend relationships with their own suppliers and customers. For some customers, the Company acts as their ocean logistics department, providing scheduling, terminal operations, port services, and marketing functions. For other customers, the Company transports supplies used in mining or processing in addition to cargo transport. The Company has worked with other customers on design, construction, and operation of loading and discharge facilities.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Stockholders' Equity

Income Statement ($MM Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($MM Annual)

Operating, Investing, Financing

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Nordic American Tankers (NAT) 288,198 0% 1,071,111 469,080 0 0 0 0 675,399
Teekay Tankers (TNK) 252,383 0% 2,161,086 1,214,153 0 0 0 0 933,868
Tsakos Energy Navigation (TNP) 230,400 0% 3,205,058 1,710,322 0 0 0 0 1,616,996
Safe Bulkers (SB) 181,290 0% 1,076,199 593,367 0 0 0 0 698,279
Ardmore Shipping (ASC) 160,855 0% 844,760 498,176 0 0 0 0 336,215
Overseas Shipholding Group (OSG) 157,534 0% 6.4 1% 1,056,717 723,904 345,962 0 8,231 68,241 437,495
Pangaea Logistics Solutions (PANL) 154,248 0% 5.0 4% 459,216 290,439 258,180 0 19,419 46,029 229,750
Danaos (DAC) 149,327 0% 2,679,842 1,988,989 0 0 0 0 1,693,937
StealthGas (GASS) 112,752 0% 1,036,722 475,470 0 0 0 0 479,292
Navios Maritime Containers (NMCI) 100,349 0% 413,527 231,054 0 0 0 0 265,127
Scorpio Tankers (STNG) 95,085 0% 4,784,164 2,945,152 0 0 0 0 82,800
Odyssey Marine Exploration (OMEX) 53,409 25% -19.2 -270% 2,496 49,731 3,260 804 -6,728 -2,769 53,036
Hornbeck Offshore Services (HOS) 48,631 0% 36.5 -4% 2,772,010 1,528,101 223,267 0 -123,941 30,021 1,095,851
Navios Maritime Acquisition (NNA) 43,827 0% 1,627,384 1,247,032 0 0 0 0 1,213,618
Capital Product Partners (CPLP) 37,106 0% 1,385,245 503,931 0 0 0 0 434,797
Pyxis Tankers (PXS) 22,324 0% 116,617 76,674 0 0 0 0 81,542
Top Ships (TOPS) 19,565 0% 258,488 154,207 0 0 0 0 164,251
Globus Maritime (GLBS) 9,692 0% 86,674 45,624 0 0 0 0 8,296
Diana Containerships (DCIX) 9,401 0% 100,086 4,510 0 0 0 0 -1,092
Euroseas (ESEA) 8,135 0% 66,955 44,377 0 0 0 0 32,415

Balance Sheet ($'000)2014-09-302014-12-312015-12-312016-12-312017-12-312018-12-31
Cash20,15829,81837,52022,32334,5322,500
Accounts Receivable30,46327,36219,61820,47721,08928,482
Inventory21,05015,6027,49113,20315,35719,222
PP&E225,179207,668255,146275,266306,293281,892
Assets335,626332,463366,963362,194423,297453,475
Accounts Payable35,79033,53814,06515,43515,68619,893
Long-Term Debt111,45845,96128,561128,794138,465117,406
Liabilities342,862234,647258,750245,923277,946291,787
Stockholders' Equity-7,23797,816108,213116,271145,351161,688
Income Statement ($'000)2014-09-302014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue398,276287,333238,016385,088372,970
Cost of Revenue
Gross Profit
R&D
SG&A12,83114,96612,77415,16316,484
Tax364373198428356
Net Income-13,64813,3679,1599,10123,982
Cash Flow ($'000)2014-09-302014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating24,59526,00919,21429,22340,135
Cash Investing-39,177-64,049-10,254-64,554-17,510
Cash Financing25,47245,742-24,15747,539-5,042