Welcome to our dedicated page for Pangaea Logistics Solution news (Ticker: PANL), a resource for investors and traders seeking the latest updates and insights on Pangaea Logistics Solution stock.
Pangaea Logistics Solutions Ltd (PANL) delivers vital maritime transportation services, specializing in dry bulk cargo across global trade routes. This news hub provides investors and industry professionals with timely updates on corporate developments, operational milestones, and market positioning.
Access verified press releases and news articles covering PANL's charter contracts, fleet expansions, financial results, and strategic partnerships. Our curated collection ensures you stay informed about cargo operations (grains, minerals, cement), vessel acquisitions, and regulatory compliance matters critical to dry bulk shipping stakeholders.
Key updates include earnings reports, new terminal agreements, sustainability initiatives, and ice-class vessel deployments. Bookmark this page for direct access to primary sources that impact investment analysis and logistics industry monitoring. Check regularly for the latest developments from PANL's Newport and Rio de Janeiro operational hubs.
Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) has acquired a 61,000 dwt dry bulk vessel, the Bulk Prudence, for $26.6 million in cash. This marks the 25th vessel in its owned fleet, with delivery expected in June 2023. The acquisition aligns with Pangaea's strategy to enhance its fleet with newer, high-quality vessels to optimize TCE rates and meet customer demands efficiently. Currently, Pangaea operates 50 vessels globally, a mix of owned and chartered. CEO Mark Filanowski emphasized that this addition supports their focus on providing consistent and efficient cargo transport services while adhering to disciplined capital allocation practices.
Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) reported its fourth quarter and full-year results for 2022 on March 15, 2023. The company maintained a net income of $15.5 million or $0.34 per diluted share, unchanged year-over-year. However, adjusted net income decreased by 43% to $14.3 million, with adjusted EBITDA dropping 29% to $26.9 million. Operating cash flow saw a significant increase of 73% to $32.9 million. For the full year, net income increased by 17% to $79.5 million, and adjusted EBITDA was up 34% to $140.9 million. The company continues to focus on strategic growth in logistics offerings while navigating a volatile shipping market.
Pangaea Logistics Solutions (Nasdaq: PANL) will release its fourth quarter and full year 2022 financial results on March 15, 2023, after market close. A subsequent conference call is scheduled for March 16, 2023, at 8:30 a.m. ET to discuss these results and recent events. Presentation materials will be available via the Company's Investor Relations website. For participation details, domestic callers can dial 1-800-225-9448, while international participants can reach 1-203-518-9708, using Conference ID: PANLQ422.
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