Every 8-K that Pangaea Logistics Solutions Ltd. (PANL) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow PANL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PANL filings page.
Pangaea Logistics Solutions Ltd. reported a sharp rebound in performance for the quarter ended June 30, 2026. GAAP net income attributable to Pangaea was $10.2 million, or $0.16 per share, compared with a loss a year earlier. Non-GAAP adjusted net income was $16.9 million, or $0.26 per share, on total revenue of $187.1 million.
Adjusted EBITDA rose 125.1% year over year to $35.0 million, supported by a 50% increase in Time Charter Equivalent (TCE) rates to $18,153 per day. TCE exceeded the average Baltic Panamax, Supramax and Handysize indices by 10%, reflecting long-term COAs, a specialized fleet and a cargo-focused strategy. Operating cash flow was $21.1 million, and unrestricted cash and cash equivalents were $105.7 million at quarter-end, with total debt (including finance leases) of $352.4 million, implying net debt to trailing twelve‑month adjusted EBITDA of 2.1x.
The board declared a $0.10 quarterly cash dividend per common share, payable September 15, 2026, to shareholders of record on September 1, 2026. Management highlighted strong dry bulk demand, ongoing fleet renewal including the $9.6 million sale of Bulk Xaymaca, expansion of port operations at Port Tampa Bay, and a continued focus on disciplined capital allocation and integrated shipping-logistics growth.
Pangaea Logistics Solutions Ltd. reported that, on June 7, 2026, three directors — Eric S. Rosenfeld, David D. Sgro and Anthony Laura — were removed from its Board of Directors under section 24.1.7 of its Bye-Laws, which allows removal when at least three quarters of the other directors request a resignation in writing.
The Board now has seven members. The current directors state that a seven-person board better matches the company’s size and strategic priorities and that this structure should allow more efficient discussion, deliberation and decision-making for shareholders.
Pangaea Logistics Solutions Ltd. reported voting results from its 2026 Annual Meeting of Shareholders. Of 65,318,647 common shares entitled to vote, 54,259,260 were represented in person or by proxy, establishing a quorum.
Shareholders elected four Class III directors to terms ending in 2029, one Class I director to a term ending in 2027, and one Class II director to a term ending in 2028. All director nominees received substantially more votes "for" than "against."
Shareholders also ratified the appointment of Deloitte & Touche LLP as independent registered public accounting firm for fiscal 2026 and approved, on an advisory, non-binding basis, the compensation of the company’s named executive officers.
Pangaea Logistics Solutions Ltd. reported a strong start to 2026, with GAAP net income attributable to the company of $13.3 million, or $0.21 per share, for the quarter ended March 31, 2026, compared with a net loss a year ago. Total revenue rose to $170.6 million as Time Charter Equivalent rates increased 34% year over year to $15,252 per day, helped by a 14% increase in total shipping days to 5,947.
Adjusted net income was $7.0 million, or $0.11 per share, and Adjusted EBITDA climbed 70% to $25.2 million, lifting the margin to 14.8% from 12.1%. Pangaea’s TCE outperformed the average Baltic Panamax, Supramax and Handysize indices by 20%, reflecting its specialized fleet, long-term contracts of affreightment and cargo‑focused strategy.
The company generated operating cash flow of $4.5 million and ended the quarter with $89.7 million in unrestricted cash and total debt of $363.2 million, for net leverage of 2.4x trailing twelve‑month Adjusted EBITDA. The board declared a quarterly cash dividend of $0.05 per common share, payable June 15, 2026, and advanced its port expansion and fleet renewal initiatives, including an agreement to sell the 2006‑built Bulk Xaymaca for $9.6 million.
Pangaea Logistics Solutions Ltd. reported solid fourth quarter 2025 results, with total revenue of $183.9 million and GAAP net income of $11.9 million, or $0.19 per share. Adjusted net income was $10.1 million, or $0.16 per share, and adjusted EBITDA reached $28.7 million, up 23% year over year.
The company’s time charter equivalent rate was $17,773 per day, 19% above benchmark Baltic indices, supported by its specialized fleet and long-term contracts. Operating cash flow was $15.1 million and year-end cash and cash equivalents totaled $103.1 million against total debt and finance leases of $375.6 million.
The board declared a quarterly cash dividend of $0.05 per share and continued capital returns through $1.0 million of share repurchases in the quarter. Strategically, Pangaea is renewing its fleet, including an agreement to sell the 2006-built Bulk Xaymaca for $9.6 million, and expanding terminal operations in multiple U.S. ports to support integrated logistics growth.
Pangaea Logistics Solutions Ltd. declared a quarterly cash dividend of $0.05 per common share. The dividend will be paid on March 13, 2026 to shareholders who are on record as of February 27, 2026.
This cash return reflects the Board’s decision to distribute capital to equity holders while the company continues operating as a global provider of seaborne dry bulk logistics, transportation, terminal and stevedoring services for a wide range of industrial cargoes.
Pangaea Logistics Solutions Ltd. reports a planned change to its Board of Directors. On December 18, 2025, Christina Tan resigned from the Board, effective immediately before the appointment of a new director. The company states that her resignation was not due to any disagreement with its operations, policies, or practices.
Pursuant to an Investor and Registration Rights Agreement with Strategic Shipping Inc., the vacant seat will be filled by Eugene I. Davis, who has been designated as an Investor Designee. Effective upon Ms. Tan’s resignation, the Board appointed Mr. Davis as a Class II independent director under Nasdaq rules. He brings 40 years of experience advising companies on shareholder value and strategy, serves as Chairman and CEO of PIRINATE Consulting Group LLC, chairs the board and Audit Committee of WW International Inc., and sits on the board and Audit Committee of Spirit Aviation Holdings Inc. Mr. Davis will receive compensation consistent with the company’s standard non-employee director program, and he has no related-party transactions requiring disclosure. The company issued a press release, attached as an exhibit, announcing these changes.
Pangaea Logistics Solutions Ltd. furnished a Form 8‑K to announce it issued a press release with financial results for the three months ended September 30, 2025. The company attached its results press release as Exhibit 99.1 and a Q3 2025 Investor Presentation as Exhibit 99.2. The company states the information is being furnished and is not deemed “filed” for purposes of Section 18 of the Exchange Act.
Pangaea Logistics Solutions Ltd. announced a planned leadership transition. Chief Executive Officer Mark Filanowski will retire and step down from the Board of Directors effective January 1, 2026, after eleven years with the company. As part of the succession plan, Chief Operating Officer Mads Petersen, age 46, has been appointed to become President and Chief Executive Officer on January 1, 2026. Petersen will resign from his COO role when he assumes the CEO position.
Petersen will also join the Board of Directors effective January 1, 2026 and is expected to be nominated for reelection at the next annual shareholder meeting. He has been with Pangaea since 2009, originally establishing and leading Nordic Bulk Carriers, now Pangaea Logistics Solutions Denmark, and has overseen the company’s commercial, operational, and technical functions as COO since 2022. The filing emphasizes his long-standing familiarity with the company and extensive shipping industry experience as reasons he is considered a suitable director.
Pangaea Logistics Solutions Ltd. has changed its independent auditor following a competitive selection process. On August 27, 2025, the company dismissed Grant Thornton LLP as its independent registered public accounting firm and engaged Deloitte & Touche LLP to audit the fiscal year ending December 31, 2025.
Pangaea states that Grant Thornton’s audit reports for 2023 and 2024 contained no adverse opinions, disclaimers, or qualifications, and that there were no disagreements on accounting or auditing matters. The filing notes one previously disclosed material weakness in internal control over financial reporting related to applying ASC 606 to certain customer reimbursements, which was discussed with Grant Thornton. The former auditor has been asked to provide a letter to the SEC agreeing with these disclosures, which is included as an exhibit.