XML 66 R54.htm IDEA: XBRL DOCUMENT v3.19.1

SECURED LONG-TERM DEBT - Schedule of Long-term Debt (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Jun. 14, 2017	Sep. 19, 2016	Dec. 11, 2015	Mar. 07, 2014	May 31, 2013
Debt Instrument [Line Items]
Secured Debt	$ 117,406,006	$ 138,464,749
Less: unamortized bank fees	(1,903,994)	(1,869,780)
Long-term Debt	115,502,012	136,594,969
Less: current portion	(20,127,742)	(18,979,335)
Secured long-term debt, net	95,374,270	117,615,634
Bulk Trident Secured Note
Debt Instrument [Line Items]
Secured Debt	0	3,452,500
Bulk Juliana Secured Note
Debt Instrument [Line Items]
Secured Debt	0	1,521,095
Bulk Phoenix Secured Note
Debt Instrument [Line Items]
Secured Debt	2,702,374	4,473,805
Bulk Nordic Odin Ltd., Bulk Nordic Olympic Ltd. Bulk Nordic Odyssey Ltd., Bulk Nordic Orion Ltd. and Bulk Nordic Oshima Ltd. Amended and Restated Loan Agreement (2)
Debt Instrument [Line Items]
Secured Debt	62,325,000	69,825,000
Term Loan Facility of USD 13,000,000 (Nordic Bulk Barents Ltd. and Nordic Bulk Bothnia Ltd.)
Debt Instrument [Line Items]
Secured Debt	4,489,100	5,793,460
Bulk Nordic Oasis Ltd. Loan Agreement
Debt Instrument [Line Items]
Secured Debt	17,000,000	18,500,000
The Amended Senior Facility - Dated December 21, 2017
Debt Instrument [Line Items]
Secured Debt	25,626,665	28,803,333
Bulk Freedom Loan Agreement
Debt Instrument [Line Items]
Secured Debt	4,450,000	5,150,000
109 Long Wharf Commercial Term Loan
Debt Instrument [Line Items]
Secured Debt	812,867	922,466
Phoenix Bulk Carriers (US) LLC Automobile Loan
Debt Instrument [Line Items]
Secured Debt	0	$ 23,090
Secured Debt | Bulk Phoenix Secured Note
Debt Instrument [Line Items]
Debt instrument, face amount							$ 10,000,000
Secured Debt | Term Loan Facility of USD 13,000,000 (Nordic Bulk Barents Ltd. and Nordic Bulk Bothnia Ltd.)
Debt Instrument [Line Items]
Debt instrument, face amount	$ 13,000,000					$ 13,000,000
Secured Debt | Bulk Nordic Oasis Ltd. Loan Agreement
Debt Instrument [Line Items]
Debt instrument, face amount					$ 21,500,000
Secured Debt | Bulk Freedom Loan Agreement
Debt Instrument [Line Items]
Debt instrument, face amount			$ 5,500,000
Secured Debt | Phoenix Bulk Carriers (US) LLC Automobile Loan
Debt Instrument [Line Items]
Debt instrument, face amount				$ 29,435

X

- Definition

Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (b)(1)
-URI http://asc.fasb.org/extlink&oid=109500613&loc=SL6031897-161870

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(16))
-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(16))
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

+ Details

Name:	us-gaap_DebtInstrumentCarryingAmount
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

X

- Definition

Face (par) amount of debt instrument at time of issuance.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

+ Details

Name:	us-gaap_DebtInstrumentFaceAmount
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:	us-gaap_DebtInstrumentLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (b)(3)
-URI http://asc.fasb.org/extlink&oid=109500613&loc=SL6031897-161870

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(16))
-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(16))
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name:	us-gaap_LongTermDebt
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

X

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt, classified as current. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19,20)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name:	us-gaap_LongTermDebtCurrent
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

X

- Definition

Amount after unamortized (discount) premium and debt issuance costs of long-term debt classified as noncurrent and excluding amounts to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name:	us-gaap_LongTermDebtNoncurrent
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

X

- Definition

The remaining balance of debt issuance expenses that were capitalized and are being amortized against income over the lives of the respective bond issues. This does not include the amounts capitalized as part of the cost of the utility plant or asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.17)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name:	us-gaap_UnamortizedDebtIssuanceExpense
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	instant

X

- Details

Name:	us-gaap_DebtInstrumentAxis=panl_BulkTridentSecuredNoteMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=panl_BulkJulianaSecuredNoteMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=panl_BulkPhoenixSecuredNoteMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=panl_BulkNordicOdinBulkNordicOlympicBulkNordicOdysseyBulkNordicOrionandBulkNordicOshimaLoanAgreementMemberDomain
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=panl_NordicBulkBarentsLtdAndNordicBulkBothniaLtdMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=panl_BulkNordicOasisLtd.LoanAgreementMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=panl_BulkNordicSixLtd.LoanAgreementDomain
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=panl_BulkFreedomLoanAgreementMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=panl_LongWharfConstructionToTermDebtMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=panl_PBCUSLLCAutomobileLoanMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_LongtermDebtTypeAxis=us-gaap_SecuredDebtMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: