Pangaea Logistics Solutions Ltd.
For the period ended Dec 31, 2025. Filed Mar 16, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 16, 2026
PANL$8.12+7.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | $103,054 | $86,805 |
| Accounts receivable (net of allowance of $6,017 and $5,493 at December 31, 2025 and 2024, respectively) | 55,854 | 42,371 |
| Inventories | 28,389 | 32,848 |
| Advance hire, prepaid expenses and other current assets | 28,478 | 29,969 |
| Total current assets | $215,776 | $191,994 |
| Restricted cash | 270 | — |
| Fixed assets, at cost, net of accumulated depreciation of $179,988 and $151,952, at December 31, 2025 and 2024, respectively | 677,518 | 707,826 |
| Finance lease right of use assets, at cost, net of accumulated depreciation of $12,678 and $10,698 at December 31, 2025 and 2024, respectively | 26,866 | 28,772 |
| Goodwill | 3,105 | 3,105 |
| Other Non-current Assets | 4,561 | 4,761 |
| Total assets | $928,096 | $936,457 |
| Liabilities and stockholders' equity | ||
| Current liabilities | ||
| Accounts payable, accrued expenses and other current liabilities | $54,257 | $46,582 |
| Related party payable | 806 | 1,181 |
| Deferred revenue | 24,891 | 15,447 |
| Current portion of long-term debt | 16,910 | 16,576 |
| Current portion of financing obligations | 27,896 | 25,267 |
| Current portion of finance lease liabilities | 2,076 | 2,844 |
| Dividends payable | 1,198 | 1,211 |
| Total current liabilities | 128,034 | 109,108 |
| Secured long-term debt, net | 97,157 | 112,721 |
| Financing Obligations, net | 219,774 | 229,530 |
| Finance lease liabilities, net | 8,395 | 10,434 |
| Stockholders' equity: | ||
| Common stock, $0.0001 par value, 100,000,000 shares authorized, 64,973,988 and 64,961,433 shares issued and outstanding at December 31, 2025 and 2024, respectively | 7 | 6 |
| Additional paid-in capital | 257,072 | 258,660 |
| Retained Earnings | 172,255 | 169,155 |
| Total Pangaea Logistics Solutions Ltd. equity | 429,333 | 427,822 |
| Non-controlling interests | 45,403 | 46,843 |
| Total stockholders' equity | 474,736 | 474,664 |
| Total liabilities and stockholders' equity | $928,096 | $936,457 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.