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Last $3.35 USD
Change Today 0.00 / 0.00%
Volume 9.9K
PANL On Other Exchanges
Symbol
Exchange
NASDAQ GS
Frankfurt
As of 8:10 PM 07/30/15 All times are local (Market data is delayed by at least 15 minutes).

pangaea logistics solutions (PANL) Snapshot

Open
$3.35
Previous Close
$3.35
Day High
$3.35
Day Low
$3.35
52 Week High
08/22/14 - $10.28
52 Week Low
05/7/15 - $2.11
Market Cap
116.4M
Average Volume 10 Days
5.7K
EPS TTM
--
Shares Outstanding
34.8M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for PANGAEA LOGISTICS SOLUTIONS (PANL)

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pangaea logistics solutions (PANL) Details

Pangaea Logistics Solutions, Ltd. provides seaborne dry bulk transportation services to industrial customers worldwide. Its dry bulk cargoes include grains, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. The company also provides cargo loading, cargo discharge, vessel chartering, voyage planning, and technical vessel management services. It operates a fleet of approximately 48 owned and chartered-in vessels. The company was founded in 1996 and is headquartered in Newport, Rhode Island.

63 Employees
Last Reported Date: 07/2/15
Founded in 1996

pangaea logistics solutions (PANL) Top Compensated Officers

Co-Founder, Chairman of the Board and Chief E...
Total Annual Compensation: $625.0K
President, Director and President of Brazil
Total Annual Compensation: $400.0K
Chief Financial Officer and Secretary
Total Annual Compensation: $400.0K
Compensation as of Fiscal Year 2014.

pangaea logistics solutions (PANL) Key Developments

Pangaea Logistics Solutions Announces Long-Term Contract of Affreightment Utilizing Ice-Class Vessels

Pangaea Logistics Solutions Ltd. announced that it has entered into a three to five-year Contract of Affreightment (COA) with a major international steel producer that will utilize its ice-class tonnage and has the potential to produce up to $135 million in revenue over five years. The first shipment is scheduled to commence in the summer of 2015 and the contract provides for up to 30 shipments per year, each generating nearly $1 million in revenue. Accordingly, the COA is expected to produce approximately $80 million in revenue over the initial three year term, and has the capacity to contribute up to $135 million in revenue over its maximum term. The performing vessels will be loading on the east coast of Canada and discharging in Europe and will be operated by Pangaea Logistics Solutions’ ice-class specialist subsidiary, Nordic Bulk Carriers, which is based in Copenhagen.

Pangaea Logistics Solutions Ltd. Announces Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2015; Announces Write Off Unamortized Financing Costs of Repaid Debt

Pangaea Logistics Solutions Ltd. announced unaudited consolidated financial results for the first quarter ended March 31, 2015. For the quarter, total revenues were $95,115,788,000 against $114,212,878,000 for the same period of last year. Income from operations was $9,948,792,000 against $10,059,804,000 for the same period of last year. Net income attributable to the company was $7,599,929,000 against $6,593,285,000 for the same period of last year. Earnings per diluted share was $0.22 against $0.17 r the same period of last year. Net cash provided by operating activities was $11,183,423,000 against $10,438,052,000 for the same period of last year. Purchase of vessels was $44,824,665,000 against $14,382,779,000 for the same period of last year. Purchase of building and equipment was $5,399,000 against $3,612,000 for the same period of last year. Adjusted EBITDA was $12,940,000 against $12,612,000 for the same period of last year. Non-GAAP Pro forma adjusted total earnings allocated to common stock was $7,560,000 against $6,593,000 for the same period of last year. Non-GAAP Pro forma Adjusted EPS was $0.22 against $0.19 for the same period of last year. The increase in net income was primarily attributable to voyage revenue tied to COAs making up an increased portion of total revenue when compared to market rate charter revenues. Low charter rates and bunker costs also contributed to this quarter’s results. The decline in total revenue was primarily attributable to a 7% decrease in the company’s total shipping days from 4,357 days in the first quarter of 2014 to 4,065 days in the first quarter of 2015. For the quarter, the company announced write off unamortized financing costs of repaid debt of $25,557,000.

Pangaea Logistics Solutions Ltd. to Report Q1, 2015 Results on May 14, 2015

Pangaea Logistics Solutions Ltd. announced that they will report Q1, 2015 results at 5:00 PM, Eastern Standard Time on May 14, 2015

 

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Valuation PANL Industry Range
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Price/Sales 0.3x
Price/Book 1.1x
Price/Cash Flow 118.2x
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