M/V Nordic Nuluujaak Delivered to Pangaea Logistics Solutions Ltd.
Pangaea Logistics Solutions Ltd., a global provider of comprehensive maritime logistics solutions, announced yesterday that M/V Nordic Nuluujaak, the first Ice Class 1A Post Panamax dry bulk vessel in a series of four ships being built for Pangaea at Guangzhou International Shipyard in China, has been delivered to its Danish subsidiary, Nordic Bulk Carriers. The remaining three ships in the series will be delivered within the next few months.
“This is a big step, and a proud day, for us,” commented Ed Coll, Pangaea’s Chief Executive Officer. “The combination of partners that came together to construct these high specification vessels, designed to trade safely and efficiently in challenging Arctic conditions, is truly remarkable. Our long-time customer, Baffinland Iron Mines, expressed a need for special tonnage to carry the highest grade iron ore to market, and their cargo commitment sparked our newbuilding
/PRNewswire/ Pangaea Logistics Solutions Ltd. ("Pangaea" or the "Company") (NASDAQ: PANL), a global provider of comprehensive maritime logistics solutions,.
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NEWPORT, R.I., May 11, 2021 /PRNewswire/ Pangaea Logistics Solutions Ltd. ( Pangaea or the Company ) (NASDAQ: PANL), a global provider of comprehensive maritime logistics solutions, announced today its results for the three months ended March 31, 2021.
1st Quarter Highlights
Net income attributable to Pangaea Logistics Solutions Ltd. was $5.9 million for three months ended March 31, 2021 as compared to $6.8 million of net loss for the same period of 2020.
Non-GAAP adjusted net income attributable to Pangaea Logistics Solutions Ltd. of $3.8 million as compared to adjusted net loss of $4.0 million for the three months ended March 31, 2020.
Diluted net income per share was $0.13 for three months ended March 31, 2021 as compared to loss per share of $0.16 for the same period of 2020.
Pangaea Logistics: Q1 Earnings Snapshot
May 11, 2021
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NEWPORT, R.I. (AP) Pangaea Logistics Solutions Ltd. (PANL) on Tuesday reported first-quarter net income of $5.9 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Newport, Rhode Island-based company said it had profit of 13 cents. Earnings, adjusted for non-recurring gains, were 9 cents per share.
The maritime logistics company posted revenue of $125 million in the period.
In the final minutes of trading on Tuesday, the company s shares hit $3.77. A year ago, they were trading at $2.35.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PANL at https://www.zacks.com/ap/PANL