Pangaea Logistics Solutions is a provider of seaborne drybulk transportation services. The Company services a range of industrial customers who require the transportation of a range of drybulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone. Pangaea addresses the transportation needs of its customers by undertaking a set of services and activities, including cargo loading, cargo discharge, vessel chartering, voyage planning and technical vessel management.

TypePublic
HQNewport, US
Founded2008
Size (employees)74 (est)+20%
Websitepangaeals.com
Pangaea Logistics Solutions was founded in 2008 and is headquartered in Newport, US
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Key People/Management at Pangaea Logistics Solutions

Ed Coll

Ed Coll

Chief Executive Officer & Chairman of the Board
Mark L. Filanowski

Mark L. Filanowski

Chief Operating Officer & Director
Claus Boggild

Claus Boggild

Director
Anthony Laura

Anthony Laura

Director
Paul Hong

Paul Hong

Director
Eric S. Rosenfeld

Eric S. Rosenfeld

Director
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Pangaea Logistics Solutions Office Locations

Pangaea Logistics Solutions has offices in Newport, Marousi, Singapore, Rio de Janeiro and in 1 other location
Newport, (HQ)
109 Long Wharf
Rio de Janeiro,
22290 Av. Brasil
Hellerup,
4 Tuborg Havnevej
Marousi,
90 Leof. Kifisias
Singapore,
24 Duxton Hill
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Pangaea Logistics Solutions Financials and Metrics

Pangaea Logistics Solutions Revenue

Pangaea Logistics Solutions's revenue was reported to be $385.09 m in FY, 2017
USD

Revenue (Q3, 2018)

95.3m

Net income (Q3, 2018)

10.4m

EBIT (Q3, 2018)

12.1m

Market capitalization (4-Dec-2018)

133.5m

Closing stock price (4-Dec-2018)

3.0

Cash (30-Sep-2018)

50.8m

EV

88.0m
Pangaea Logistics Solutions's current market capitalization is $133.5 m.
Annual
usdFY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

30.5m61.3m83.2m146.6m191.0m287.3m238.0m385.1m

Revenue growth, %

101%36%76%30%0%4%

Cost of goods sold

888.0k3.7m4.5m28.9m41.3m

Gross profit

29.7m57.6m78.7m117.8m149.7m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

37.8m64.1m31.2m65.1m71.2m43.9m57.0m70.8m84.5m91.4m107.0m79.0m96.8m95.3m

General and administrative expense

6.4m6.5m6.2m3.9m3.6m3.0m2.9m3.2m3.5m3.1m4.8m4.1m4.4m3.7m

R&D expense

10.2m10.5m9.9m

Operating expense total

31.2m35.3m29.5m58.1m31.1m40.4m56.2m63.0m84.8m92.6m97.0m71.2m88.4m83.2m
Annual
usdY, 2009Y, 2010Y, 2011Y, 2012Y, 2013Y, 2014FY, 2015Y, 2015FY, 2016FY, 2017

Cash

22.7m111.8m111.8m85.9m70.6m45.4m37.5m97.5m139.4m34.5m

Accounts Receivable

15.7m22.1m19.6m24.7m25.0m21.1m

Inventories

10.6m37.1m12.7m17.3m

Current Assets

327.0m370.5m69.3m447.7m385.4m83.0m
Quarterly
USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

35.9m75.6m37.4m125.2m34.2m34.2m32.7m32.4m28.2m21.7m29.4m29.3m28.2m48.9m50.8m

Accounts Receivable

24.5m20.5m22.1m18.2m21.0m24.5m13.5m14.5m14.8m22.7m26.7m30.9m21.7m18.4m26.8m

Inventories

14.6m20.7m29.8m39.0m17.0m13.7m14.7m16.5m16.1m16.7m24.4m

Current Assets

337.7m363.4m351.0m407.3m77.6m73.2m59.0m60.6m64.0m74.0m85.0m94.2m74.0m99.9m112.6m
Annual
usdFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

74.1m41.9m13.4m9.2m9.1m

Depreciation and Amortization

13.0m13.1m12.7m14.1m15.6m

Inventories

424.0k(27.0m)(8.6m)(4.5m)

Accounts Payable

3.6m3.1m790.0k4.4m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

16.2m4.0m24.4m28.7m1.3m15.4m18.1m1.6m2.2m8.8m(3.7k)(4.2m)4.6m5.5m12.4m22.8m

Depreciation and Amortization

9.7m3.3m6.4m9.7m3.5m6.3m9.5m3.5m7.0m10.6m3.9m7.7m11.6m4.3m8.7m13.1m

Inventories

3.2m(4.0m)(10.1m)(19.2m)(1.9m)(12.9m)(9.6m)(2.0m)(3.7m)(3.2m)646.0k(7.1m)

Accounts Payable

265.0k(4.6m)1.9m(3.1m)(8.6m)826.0k1.2m(9.1m)(5.6m)(5.1m)(8.3m)(1.9m)
USDY, 2018

EV/EBIT

7.2 x

EV/CFO

3.2 x

Financial Leverage

2 x
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Pangaea Logistics Solutions Online and Social Media Presence

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Pangaea Logistics Solutions News and Updates

Pangaea Logistics Solutions Ltd. Extends Freight Agreement with Noranda Bauxite and Alumina

NEWPORT, R.I., Nov. 27, 2018 /PRNewswire/ -- Pangaea Logistics Solutions Ltd. ("Pangaea") (NASDAQ: PANL), a global provider of comprehensive maritime logistics solutions, announced today that its contract to move bauxite from Jamaica to Gramercy, Louisiana for Noranda Bauxite and Alumina...

Pangaea Logistics Solutions Ltd. Reports Financial Results for the Quarter Ended September 30, 2018

NEWPORT, R.I., Nov. 8, 2018 /PRNewswire/ -- Pangaea Logistics Solutions Ltd. ("Pangaea" or the "Company") (NASDAQ: PANL), a global provider of comprehensive maritime logistics solutions, announced today its results for the three months ended September 30, 2018. 3rd Quarter 2018 Highlights ...

Pangaea Logistics Solutions Ltd. Announces Purchase of Vessel

NEWPORT, R.I., Oct. 29, 2018 /PRNewswire/ -- Pangaea Logistics Solutions Ltd. ("Pangaea" or the "Company") (NASDAQ: PANL), a global provider of comprehensive maritime logistics solutions, announced it has purchased a vessel to add to its operating fleet, which will total 20 ships when the ...

Pangaea Logistics Solutions to Report Second Quarter 2018 Results

NEWPORT, R.I., July 31, 2018 /PRNewswire/ -- Pangaea Logistics Solutions Ltd. ("Pangaea" or the "Company") (NASDAQ: PANL), a global provider of comprehensive maritime logistics solutions, today announced that it will host a teleconference to discuss the Company's second quarter financial...
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Pangaea Logistics Solutions Company Life and Culture

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Pangaea Logistics Solutions Frequently Asked Questions

  • When was Pangaea Logistics Solutions founded?

    Pangaea Logistics Solutions was founded in 2008.

  • Who are Pangaea Logistics Solutions key executives?

    Pangaea Logistics Solutions's key executives are Ed Coll, Mark L. Filanowski and Claus Boggild.

  • How many employees does Pangaea Logistics Solutions have?

    Pangaea Logistics Solutions has 74 employees.

  • What is Pangaea Logistics Solutions revenue?

    Latest Pangaea Logistics Solutions annual revenue is $385.1 m.

  • What is Pangaea Logistics Solutions revenue per employee?

    Latest Pangaea Logistics Solutions revenue per employee is $5.2 m.

  • Who are Pangaea Logistics Solutions competitors?

    Competitors of Pangaea Logistics Solutions include Yodel Delivery Network, Rand Logistics and Matson.

  • Where is Pangaea Logistics Solutions headquarters?

    Pangaea Logistics Solutions headquarters is located at 109 Long Wharf, Newport.

  • Where are Pangaea Logistics Solutions offices?

    Pangaea Logistics Solutions has offices in Newport, Marousi, Singapore, Rio de Janeiro and in 1 other location.

  • How many offices does Pangaea Logistics Solutions have?

    Pangaea Logistics Solutions has 5 offices.