Pangaea Logistics Solutions Ltd.
PANL · Deep Sea Foreign Transportation of Freight · 65.4M shares · +2%/yr ↑ shares · EDGAR filings ↗
Reference price $8.37 · est. market cap ~$548M — last insider sale, 2026-05-26 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C62Pangaea is a niche ice-class drybulk operator with strong revenue growth but mid-pack, cyclical returns.
Strengths
- Revenue grew 17.8% (70.5th) on fleet expansion; leading high ice-class 1A franchise with superior seasonal margins
- Reasonable leverage (debt/equity 0.23) and active hedging/risk management
Risks
- Median returns: ROE 4.5% (49.2th), net margin 3.1%, ROA 2.1%; net income fell 33%
- Highly cyclical charter-rate exposure and asset-heavy aging fleet
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
6.5%
Net margin
3.1%
Return on equity
4.5%
Return on assets
2.1%
ROIC
6.1%
Revenue growth (QoQ)
-7.2%
Net-income growth
-33.0%
Debt / equity
0.2×
Net debt / EBITDA
-0.1×
Current ratio
1.7×
EBITDA
$83M
Tangible book value
$425M
Cash & investments
$103M
Stock comp / revenue
0.7%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-26 | ROSENFELD ERIC | Sell | 100K | $8.37 |
| 2026-03-25 | Schildt Daniel | Grant | 10K | — |
| 2026-03-25 | Petersen Mads Rosenber Boye | Grant | 24K | — |
| 2026-03-25 | Petersen Mads Rosenber Boye | Grant | 24K | — |
| 2026-03-25 | DelSignore Gianni | Grant | 13K | — |
| 2026-03-25 | DelSignore Gianni | Grant | 13K | — |
| 2026-03-25 | Schildt Daniel | Grant | 10K | — |
| 2026-03-19 | DelSignore Gianni | Sell | 24K | $6.99 |
| 2026-03-18 | Petersen Mads Rosenber Boye | Sell | 20K | $7.06 |
| 2026-02-25 | Laura Anthony | Gift | 14K | $8.48 |
| 2026-02-25 | Laura Anthony | Grant | 7.1K | — |
| 2026-02-25 | Laura Anthony | Grant | 7.1K | — |
| 2026-02-20 | DU MOULIN RICHARD T | Grant | 14K | $8.48 |
| 2026-02-18 | Boggild Carl Claus | Grant | 14K | $8.48 |
| 2026-02-18 | Sgro David | Grant | 14K | $8.48 |
| 2026-02-18 | ROSENFELD ERIC | Grant | 14K | $8.48 |
| 2026-02-18 | Leand Paul M. Jr. | Grant | 14K | $8.48 |
| 2026-02-18 | DAVIS EUGENE I | Grant | 14K | $8.48 |
| 2026-02-18 | Vogel Gary | Grant | 14K | $8.48 |
| 2026-02-18 | Beachy Karen H | Grant | 14K | $8.48 |
| 2026-02-18 | Laura Anthony | Grant | 14K | $8.48 |
| 2025-06-16 | Strategic Shipping Inc. | Buy | 40K | $4.63 |
| 2025-06-05 | Strategic Shipping Inc. | Buy | 5.9K | $4.49 |
| 2025-06-03 | Strategic Shipping Inc. | Buy | 26K | $4.48 |
| 2025-06-02 | Strategic Shipping Inc. | Buy | 50K | $4.44 |
| 2025-05-30 | Strategic Shipping Inc. | Buy | 19K | $4.49 |
| 2025-05-29 | Strategic Shipping Inc. | Buy | 3.6K | $4.49 |
| 2025-05-22 | Beachy Karen H | Sell | 11K | $4.54 |
| 2025-05-21 | FILANOWSKI MARK L | Buy | 20K | $4.75 |
| 2025-05-20 | Strategic Shipping Inc. | Buy | 24K | $4.43 |
| 2025-05-19 | Strategic Shipping Inc. | Buy | 17K | $4.36 |
| 2025-05-16 | Strategic Shipping Inc. | Buy | 17K | $4.35 |
| 2025-05-15 | Strategic Shipping Inc. | Buy | 75K | $4.29 |
| 2025-04-11 | Strategic Shipping Inc. | Buy | 6.5K | $4.24 |
| 2025-04-10 | Strategic Shipping Inc. | Buy | 75K | $4.24 |
| 2025-04-09 | Strategic Shipping Inc. | Buy | 7.8K | $4.10 |
| 2025-04-08 | Strategic Shipping Inc. | Buy | 75K | $4.16 |
| 2025-04-07 | Strategic Shipping Inc. | Buy | 50K | $4.14 |
| 2025-04-04 | Strategic Shipping Inc. | Buy | 20K | $4.06 |
| 2025-02-28 | Laura Anthony | Gift | 23K | $5.20 |
| 2025-02-28 | Laura Anthony | Grant | 12K | — |
| 2025-02-28 | Laura Anthony | Grant | 12K | — |
| 2025-02-19 | Sgro David | Grant | 23K | $5.20 |
| 2025-02-19 | Boggild Carl Claus | Grant | 23K | $5.20 |
| 2025-02-19 | Vogel Gary | Grant | 23K | $5.20 |
| 2025-02-19 | Tan Christina | Grant | 23K | $5.20 |
| 2025-02-19 | DU MOULIN RICHARD T | Grant | 23K | $5.20 |
| 2025-02-19 | Beachy Karen H | Grant | 23K | $5.20 |
| 2025-02-19 | Laura Anthony | Grant | 23K | $5.20 |
| 2025-02-19 | ROSENFELD ERIC | Grant | 23K | $5.20 |
| 2025-02-18 | FILANOWSKI MARK L | Grant | 85K | — |
| 2025-02-18 | Petersen Mads Rosenber Boye | Grant | 49K | — |
| 2025-02-18 | Schildt Daniel | Grant | 7.5K | $5.30 |
| 2025-02-18 | DelSignore Gianni | Grant | 40K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-08 | Exec/director change | filing ↗ |
| 2026-05-12 | Shareholder vote | filing ↗ |
| 2026-05-11 | ResultsExhibits | filing ↗ |
| 2026-03-11 | ResultsExhibits | filing ↗ |
| 2026-02-17 | OtherExhibits | filing ↗ |
| 2025-12-18 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-11-28 | Material agreementExec/director changeReg FDExhibits | filing ↗ |
| 2025-11-06 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-08 | 2026-06-07 | 0001628280-26-041387 ↗ |
| 8-K | 2026-05-12 | 2026-05-07 | 0001628280-26-033728 ↗ |
| 8-K | 2026-05-11 | 2026-05-11 | 0001628280-26-033663 ↗ |
| 10-Q | 2026-05-11 | 2026-03-31 | 0001628280-26-033658 ↗ |
| 10-K | 2026-03-16 | 2025-12-31 | 0001606909-26-000010 ↗ |
| 8-K | 2026-03-11 | 2026-03-10 | 0001628280-26-016596 ↗ |
| 8-K | 2026-02-17 | 2026-02-17 | 0001606909-26-000004 ↗ |
| 8-K | 2025-12-18 | 2025-12-18 | 0001606909-25-000178 ↗ |
| 8-K | 2025-11-28 | 2025-11-26 | 0001606909-25-000169 ↗ |
| 10-Q | 2025-11-10 | 2025-09-30 | 0001606909-25-000164 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001606909-25-000157 ↗ |
| 8-K | 2025-09-17 | 2025-09-17 | 0001606909-25-000154 ↗ |