Pangaea Logistics Solutions Ltd. balance sheet

At the end of fiscal 2025, Pangaea Logistics Solutions Ltd. had total assets of $928m and shareholders' equity of $429m. It held $103m in cash against $250m of debt: net debt of $147m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Pangaea Logistics Solutions Ltd.: balance sheet, annual
Fiscal year	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	38	30	38	22	35	54	51	47	56	128	99	87	103	106
Receivables	45	27	20	16	21	28	28	29	54	37	48	42	56	59
Inventory	21	16	7	13	15	19	21	16	27	29	17	33	28	51
Total current assets	98	85	69	62	83	114	128	111	184	223	192	192	216	266
Goodwill	—	—	—	—	—	—	—	—	—	0	3	3	3	3
Total assets	330	332	367	362	423	453	480	450	707	748	705	936	928	957
Accounts payable	39	34	14	15	16	20	24	19	7	10	6	15	14	—
Deferred revenue (current)	16	12	4	6	6	15	14	13	32	21	16	15	25	28
Total current liabilities	112	145	72	78	70	79	91	111	112	92	105	109	128	192
Short-term debt	—	—	—	—	19	20	23	57	15	16	31	—	—	—
Long-term debt	—	106	151	129	118	95	84	48	106	99	68	129	97	236
Total debt	104	109	151	129	138	117	111	108	124	116	182	257	250	236
Shareholders' equity	−6	98	108	116	145	162	170	183	247	314	324	428	429	449
Net debt (negative = net cash)	66	79	114	106	104	64	60	61	68	−12	83	170	147	130
Shares outstanding	13m	—	37m	37m	44m	44m	45m	45m	46m	46m	46m	—	65m	65m

US$ millions unless shown otherwise. Fiscal quarters.

Pangaea Logistics Solutions Ltd.: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	44	42	48	49	46	56	61	59
Inventory	27	33	36	39	36	28	40	51
Total current assets	196	192	176	184	213	216	251	266
Goodwill	3	3	3	3	3	3	3	3
Total assets	749	936	918	916	932	928	951	957
Accounts payable	—	15	—	—	—	14	—	—
Deferred revenue (current)	16	15	19	18	18	25	29	28
Total current liabilities	96	109	109	126	131	128	154	192
Short-term debt	17	—	—	—	—	—	—	—
Long-term debt	117	129	251	245	256	97	243	236
Total debt	134	129	251	245	256	97	243	236
Shareholders' equity	333	428	421	414	420	429	441	449
Shares outstanding	47m	65m	66m	65m	65m	65m	65m	65m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Pangaea Logistics Solutions Ltd.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Pangaea Logistics Solutions Ltd.