Pangaea Soars on Strong Q2 Results | Business and Finance News

Pangaea Logistics Solutions is on a winning streak, smashing Q2 earnings with record revenue and profits fueled by smart fleet positioning and soaring charter rates—especially in Asia. Their adjusted EBITDA jumped nearly $20 million YoY to $35 million, thanks to fuel hedging, backhaul trades, and a stronger Pacific presence. Onshore expansion at Tampa adds $4 million in revenue and $3 million in EBITDA annually, deepening customer ties. They’re shedding older ships like the Bulk Xaymaca for $9.6M to boost efficiency. With demand for iron ore and grain holding strong, Pangaea expects steady growth through the year, aided by Arctic trade and moderate fleet expansion. And they’re rewarding shareholders with a 10-cent quarterly dividend increase—proof they’re balancing growth with returns. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/b634dc7595950860