Pangaea Logistics (PANL) Q2 2026 Earnings Call Transcript

Pangaea Logistics reported strong Q2 2026 results with revenue of $187.1 million (19% growth) and adjusted EBITDA of $35 million (125% growth), driven by a 50% increase in time charter equivalent rates to $18,153 per day, which exceeded market benchmarks by 10%. The company expanded its terminal operations to Port Tampa Bay, increased its quarterly dividend to $0.10 per share, and sold older vessels as part of its fleet renewal strategy while maintaining a net debt to EBITDA ratio of 2.1x.