Pangaea Logistics (PANL): Freight Rate Rally Drives Operational Strength Amid Margin Pressures
Pangaea Logistics (PANL) reported Q2 results with TCE rates up 50% YoY to $18,153/day, adjusted EBITDA at $35M. Onshore revenue grew 11% YoY. Costs rose 24% YoY, GAAP net income was $10.2M. The company has $350M in debt and plans to refinance $24M. Hedge fund ownership increased to 26, short interest is 3.67%.







