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  <xsd:element abstract="true" id="panl_BulkNordicOasisLtd.LoanAgreementMember" name="BulkNordicOasisLtd.LoanAgreementMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_BulkNordicOdinBulkNordicOlympicBulkNordicOdysseyBulkNordicOrionandBulkNordicOshimaLoanAgreementMemberDomain" name="BulkNordicOdinBulkNordicOlympicBulkNordicOdysseyBulkNordicOrionandBulkNordicOshimaLoanAgreementMemberDomain" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_BulkNordicOdysseyBulkNordicOrionAndBulkNordicOshimaDebtAgreementMember" name="BulkNordicOdysseyBulkNordicOrionAndBulkNordicOshimaDebtAgreementMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_BulkNordicSixLtd.LoanAgreementDomain" name="BulkNordicSixLtd.LoanAgreementDomain" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_BulkNordicSixLtd.LoanAgreementMember" name="BulkNordicSixLtd.LoanAgreementMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_BulkPangaeaSecuredNoteMember" name="BulkPangaeaSecuredNoteMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_BulkPatriotSecuredNoteMember" name="BulkPatriotSecuredNoteMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_BulkPhoenixSecuredNoteMember" name="BulkPhoenixSecuredNoteMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_BulkTridentSecuredNoteMember" name="BulkTridentSecuredNoteMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_Capitalleaseassetnet" name="Capitalleaseassetnet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="panl_CharterHireExpense" name="CharterHireExpense" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="panl_CharterRevenue" name="CharterRevenue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_CharterTypeAxis" name="CharterTypeAxis" nillable="true" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_CharterTypeDomain" name="CharterTypeDomain" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_CommitmentsAndContingenciesTable" name="CommitmentsAndContingenciesTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_CommonStockDividend2008Member" name="CommonStockDividend2008Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_CommonStockDividend2013Member" name="CommonStockDividend2013Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_CommonStockSpecialDividend2012Member" name="CommonStockSpecialDividend2012Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_ConsentingShareholders" name="ConsentingShareholders" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="instant" />
  <xsd:element abstract="true" id="panl_ConstructionOfTwoNewUltramaxNewbuildingsMember" name="ConstructionOfTwoNewUltramaxNewbuildingsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_DebtInstrumentInterestRatePortionFixed" name="DebtInstrumentInterestRatePortionFixed" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant" />
  <xsd:element id="panl_DebtInstrumentNumberofPeriodicPayments" name="DebtInstrumentNumberofPeriodicPayments" nillable="true" substitutionGroup="xbrli:item" type="xbrli:integerItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_DebtInstrumentNumberofTranches" name="DebtInstrumentNumberofTranches" nillable="true" substitutionGroup="xbrli:item" type="xbrli:integerItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_DebtInstrumentThresholdofExcessPaymentAdditionalAmountAppliedtoBalloonPayment" name="DebtInstrumentThresholdofExcessPaymentAdditionalAmountAppliedtoBalloonPayment" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_DebtRepaymentInstallmentAxis" name="DebtRepaymentInstallmentAxis" nillable="true" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_DebtRepaymentInstallmentDomain" name="DebtRepaymentInstallmentDomain" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_DividendDisclosureAbstract" name="DividendDisclosureAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_Dividendpayabletononcontrollinginterest" name="Dividendpayabletononcontrollinginterest" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="panl_Dividendspayabletothefounders" name="Dividendspayabletothefounders" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element abstract="true" id="panl_DocumentAndEntityInformationAbstract" name="DocumentAndEntityInformationAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_EightEqualQuarterlyInstallmentsMember" name="EightEqualQuarterlyInstallmentsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_ExtinguishmentofRelatedPartyDebt" name="ExtinguishmentofRelatedPartyDebt" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_FifthandsixthinstallmentMember" name="FifthandsixthinstallmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_FirstandsecondinstallmentMember" name="FirstandsecondinstallmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_FounderMember" name="FounderMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_HandymaxIceClass1AMember" name="HandymaxIceClass1AMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_IncreaseDecreaseInAccountPayableAccruedExpensesAndOtherCurrentLiabilities" name="IncreaseDecreaseInAccountPayableAccruedExpensesAndOtherCurrentLiabilities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_Installement1Axis" name="Installement1Axis" nillable="true" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_InstallementDomain" name="InstallementDomain" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_InterestPayableMember" name="InterestPayableMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_LoanPayableBvhShareholderMember" name="LoanPayableBvhShareholderMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_LoanPayableToFoundersMember" name="LoanPayableToFoundersMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_LoanPayableTwoThousandElevenFoundersNoteMember" name="LoanPayableTwoThousandElevenFoundersNoteMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_LoanTrancheAxis" name="LoanTrancheAxis" nillable="true" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_LoanTrancheDomain" name="LoanTrancheDomain" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_LongWharfConstructionToTermDebtMember" name="LongWharfConstructionToTermDebtMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MarginAccountsMember" name="MarginAccountsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvBULKBEOTHUKMember" name="MvBULKBEOTHUKMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvBULKJULIANAMember" name="MvBULKJULIANAMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvBULKNEWPORTMember" name="MvBULKNEWPORTMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvBULKPATRIOTMember" name="MvBULKPATRIOTMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvBULKTRIDENTMember" name="MvBULKTRIDENTMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvBulkDestinyMember" name="MvBulkDestinyMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvBulkEnduranceMember" name="MvBulkEnduranceMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvBulkFreedomMember" name="MvBulkFreedomMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvBulkPangaeaMember" name="MvBulkPangaeaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvBulkPrideMember" name="MvBulkPrideMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvNORDICBARENTSMember" name="MvNORDICBARENTSMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvNORDICBOTHNIAMember" name="MvNORDICBOTHNIAMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvNORDICODYSSEYMember" name="MvNORDICODYSSEYMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvNORDICOSHIMAMember" name="MvNORDICOSHIMAMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvNordicBulkOasisMember" name="MvNordicBulkOasisMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvNordicOdinMember" name="MvNordicOdinMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvNordicOdinandmvNordicOlympicMember" name="MvNordicOdinandmvNordicOlympicMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvNordicOlympicMember" name="MvNordicOlympicMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_MvNordicOrionMember" name="MvNordicOrionMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_NordicBulkBarentsLtd.Member" name="NordicBulkBarentsLtd.Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_NordicBulkBarentsLtdAndNordicBulkBothniaLtdMember" name="NordicBulkBarentsLtdAndNordicBulkBothniaLtdMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_NordicBulkBothinaLtd.Member" name="NordicBulkBothinaLtd.Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_NordicBulkOshimaMember" name="NordicBulkOshimaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_NumberOfVessels" name="NumberOfVessels" nillable="true" substitutionGroup="xbrli:item" type="xbrli:integerItemType" xbrli:periodType="instant" />
  <xsd:element abstract="true" id="panl_OdysseyAndOrionDividend2013Member" name="OdysseyAndOrionDividend2013Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_OdysseyAndOrionMember" name="OdysseyAndOrionMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_Ofshareholdersapproval" name="Ofshareholdersapproval" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant" />
  <xsd:element abstract="true" id="panl_OneInstallmentPerBorrowerMember" name="OneInstallmentPerBorrowerMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_PBCUSLLCAutomobileLoanMember" name="PBCUSLLCAutomobileLoanMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_PBCUSLLCMasterLoanMember" name="PBCUSLLCMasterLoanMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_PanamaxIceClass1AMember" name="PanamaxIceClass1AMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_PanamaxMember" name="PanamaxMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_PaymentForDrydockingCosts" name="PaymentForDrydockingCosts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="panl_PaymentForPurchaseOfVessels" name="PaymentForPurchaseOfVessels" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="panl_PropertyPlantAndEquipmentScheduleOfSignificantAcquisitionsTableTextBlock" name="PropertyPlantAndEquipmentScheduleOfSignificantAcquisitionsTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_PurchaseObligationNumberofVessels" name="PurchaseObligationNumberofVessels" nillable="true" substitutionGroup="xbrli:item" type="xbrli:integerItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_Purchasefromnoncontrollinginterest" name="Purchasefromnoncontrollinginterest" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_RelatedPartyDebtAxis" name="RelatedPartyDebtAxis" nillable="true" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_RelatedPartyDebtCurrentMember" name="RelatedPartyDebtCurrentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_RelatedPartyDebtDomain" name="RelatedPartyDebtDomain" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_Rentalexpenseperyearunderbareboatcharternext5years" name="Rentalexpenseperyearunderbareboatcharternext5years" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_STShippingandTransportLtd.STSTMember" name="STShippingandTransportLtd.STSTMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_ScheduleOfFutureMinimumLeasePaymentsForCapitalAndOperatingLeasesTableTextBlock" name="ScheduleOfFutureMinimumLeasePaymentsForCapitalAndOperatingLeasesTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_ScheduleofRelatedPartyRollForward" name="ScheduleofRelatedPartyRollForward" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_SevenEqualQuarterlyInstallmentsMember" name="SevenEqualQuarterlyInstallmentsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_SeventeenequalquarterlyinstallmentsMember" name="SeventeenequalquarterlyinstallmentsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_SeventheighthandninthinstallmentMember" name="SeventheighthandninthinstallmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_ShareholderLoansToFundDepositsOnVesselsMember" name="ShareholderLoansToFundDepositsOnVesselsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_Sharesissuedinconnectionwithshareofferingpercentageofthencommonstock" name="Sharesissuedinconnectionwithshareofferingpercentageofthencommonstock" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant" />
  <xsd:element abstract="true" id="panl_StockPurchaseAgreementMember" name="StockPurchaseAgreementMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_StockPurchaseAgreementinsideinvestorsMemberMember" name="StockPurchaseAgreementinsideinvestorsMemberMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_Stockissuedduringperiodvalueissuranceofcommonstockassettlementofaccrueddividends" name="Stockissuedduringperiodvalueissuranceofcommonstockassettlementofaccrueddividends" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_SupramaxMember" name="SupramaxMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_TechnicalManagementFees" name="TechnicalManagementFees" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_ThirdandfourthinstallmentMember" name="ThirdandfourthinstallmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_ThreeequalquarterlyinstallmentsMember" name="ThreeequalquarterlyinstallmentsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_TrancheAMember" name="TrancheAMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_TrancheBMember" name="TrancheBMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_TwelveEqualQuarterlyInstallmentsMember" name="TwelveEqualQuarterlyInstallmentsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_TwentyTwoEqualQuarterlyInstallmentsPerBorrowerMember" name="TwentyTwoEqualQuarterlyInstallmentsPerBorrowerMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_TwoUltramaxVesselsMember" name="TwoUltramaxVesselsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_TwoquarterlyinstallmentsMember" name="TwoquarterlyinstallmentsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_UltramaxIceClass1CMember" name="UltramaxIceClass1CMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_VentureBargeCorp.Member" name="VentureBargeCorp.Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_VesselOperatingExpense" name="VesselOperatingExpense" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="panl_VesselPurchasePrice" name="VesselPurchasePrice" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="panl_VesselsAndVesselImprovementsPropertyPlantAndEquipmentNet" name="VesselsAndVesselImprovementsPropertyPlantAndEquipmentNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element abstract="true" id="panl_VesselsAxis" name="VesselsAxis" nillable="true" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="panl_VesselsDomain" name="VesselsDomain" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="panl_VoyageExpense" name="VoyageExpense" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="panl_VoyageRevenue" name="VoyageRevenue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
</xsd:schema>
