Pangaea Logistics Solutions (NASDAQ:PANL) reported a stronger start to 2026, with management pointing to higher shipping activity, firmer dry bulk market conditions and continued benefits from its integrated logistics model during the company’s first-quarter earnings call.
Chief Executive Officer Mads Petersen said the company delivered year-over-year growth in revenue and profitability, supported by a 14% increase in total shipping days and greater use of chartered-in vessels. He said Pangaea’s time charter equivalent, or TCE, rates averaged 20% above prevailing market rates for Panamax, Supramax and Handysize vessels during the quarter.
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