Pangaea Logistics Q2 revenue down 24% YoY to $61.6mln, TCE rates at $12,108 per day.

• Pangaea Logistics Solutions reports Q2 net loss of $2.7mln, or $0.04 per share • Adjusted net loss of $1.4mln, or $0.02 per share • Adjusted EBITDA of $15.3mln • TCE rates earned by Pangaea at $12,108 per day, exceeding Baltic indices by 17%

Pangaea Logistics Solutions (PANL) has released its Q2 2025 financial results, indicating a net loss of $2.7 million, or $0.04 per share, and an adjusted net loss of $1.4 million, or $0.02 per share. Despite these losses, the company maintained a strong operational performance with an adjusted EBITDA of $15.3 million and Time Charter Equivalent (TCE) rates of $12,108 per day, which exceeded industry benchmarks by 17% [3].

The company's Q2 2025 results reflect the ongoing challenges in the dry bulk shipping sector, with TCE rates declining by 25% year-over-year. However, Pangaea's specialized fleet and cargo-focused strategy allowed it to maintain a premium performance over market indices. The company's total shipping days increased by 51% to 6,222 days, primarily due to the acquisition of fifteen handy-sized vessels in Q4 2024 [3].

Pangaea Logistics Solutions maintained financial flexibility with $59.3 million in cash and $379.7 million in total debt. During Q2, the company repaid $11.2 million in debt obligations, paid $3.2 million in dividends, and repurchased $1 million of common stock. Strategic moves included selling the 2010-built Strategic Endeavor for $7.7 million and beginning financing arrangements for two vessels. Additionally, Pangaea acquired the remaining 49% of Seamar Management, consolidating control of its technical management operations [3].

Looking ahead, early Q3 performance shows 3,671 shipping days at $14,272 per day TCE, an 18% improvement over Q2 rates, supported by seasonal factors [3].

References:
[1] https://stockanalysis.com/stocks/panl/
[2] https://www.tradingview.com/news/reuters.com,2025-08-07:newsml_PLX43DD7C:0-brief-pangaea-logistics-solutions-q2-adjusted-eps-usd-0-02/
[3] https://www.stocktitan.net/news/PANL/pangaea-logistics-solutions-ltd-reports-financial-results-for-the-swq2hfyjgmw4.html