Pangaea Logistics Solutions Ltd. Reports Financial Results for the Third Quarter Ended September 30, 2026

Pangaea Logistics Solutions reported third-quarter 2026 revenue of $219.1 million, up 30% year over year, and net income attributable to shareholders of $38.3 million. Adjusted EBITDA was $52.4 million, while time charter equivalent rates rose to $20,414 per day, which the company attributed to higher freight rates. Cash and restricted cash totaled $145.2 million at quarter-end.