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Unaudited Quarterly Data (Tables) | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Schedule of Quarterly Financial Information |
(Dollars in millions, except share and per share amounts. Figures may not foot due to rounding) | 2020 | 2019
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4
Revenues: |  |  |  |  |  |  |  |
Voyage revenue | $ | 86.5 |  | $ | 66.9 |  | $ | 98.1 |  | $ | 98.2 |  | $ | 65.9 |  | $ | 77.4 |  | $ | 103.8 |  | $ | 118.6 |
Charter revenue | 9.4 |  | 3.5 |  | 5.6 |  | 14.6 |  | 13.7 |  | 5.9 |  | 15.1 |  | 11.9 |
| 95.9 |  | 70.4 |  | 103.7 |  | 112.8 |  | 79.6 |  | 83.3 |  | 118.9 |  | 130.5 |
Expenses: |  |  |  |  |  |  |  |
Voyage expense | 47.8 |  | 31.8 |  | 40.7 |  | 41.6 |  | 32.2 |  | 37.2 |  | 45.1 |  | 51.0 |
Charter hire expense | 32.3 |  | 15.2 |  | 35.0 |  | 45.3 |  | 24.9 |  | 18.3 |  | 42.0 |  | 47.7 |
Vessel operating expenses | 9.9 |  | 9.3 |  | 9.7 |  | 9.1 |  | 9.8 |  | 11.1 |  | 11.3 |  | 13.1 |
General and administrative | 4.0 |  | 3.9 |  | 3.7 |  | 4.4 |  | 4.0 |  | 5.4 |  | 2.8 |  | 5.2 |
Depreciation and amortization | 4.2 |  | 4.3 |  | 4.2 |  | 4.2 |  | 4.4 |  | 4.5 |  | 4.7 |  | 5.0 |
Loss on impairment of vessels | — |  | 1.8 |  | — |  | — |  | — |  | — |  | — |  | 4.8 |
(Gain) loss on sale of vessel | (0.1) |  | 0.3 |  | 0.5 |  | — |  | — |  | — |  | — |  | 4.6 |
Total expenses | 98.1 |  | 66.6 |  | 93.8 |  | 104.6 |  | 75.3 |  | 76.5 |  | 105.9 |  | 131.4 |
Income/(loss) from operations | (2.2) |  | 3.8 |  | 9.9 |  | 8.2 |  | 4.3 |  | 6.8 |  | 13.0 |  | (0.9) |
Other income (expense): |  |  |  |  |  |  |  |
Interest expense, net | (2.1) |  | (2.0) |  | (2.0) |  | (1.8) |  | (2.2) |  | (2.1) |  | (2.5) |  | (2.4) |
Interest expense related party notes payable | — | — | — | — | — |  | (0.1) |  | — | —
Unrealized (loss) gain on derivative instruments | (2.9) |  | 1.4 |  | — |  | 1.4 |  | 2.3 |  | 0.2 |  | (0.3) |  | 0.5 |
Other income | 0.6 |  | 0.1 |  | 0.3 |  | — |  | 0.2 |  | 0.2 | 0.2 | (0.3) |
Total other expense, net | (4.4) |  | (0.5) |  | (1.7) |  | (0.4) |  | 0.3 |  | (1.8) |  | (2.6) |  | (2.2) |
Net (loss) income | (6.8) |  | 3.3 |  | 8.2 |  | 7.9 |  | 4.5 |  | 5.2 |  | 10.4 |  | (3.0) |
(Income) loss attributable to noncontrolling interests | — |  | (0.3) |  | (0.7) |  | (0.3) |  | (0.8) |  | (1.1) |  | (2.1) |  | (1.4) |
Net income attributable to Pangaea Logistics Solutions Ltd. | $ | (6.8) |  | $ | 3.0 |  | $ | 7.5 |  | $ | 7.6 |  | $ | 3.7 |  | $ | 4.1 |  | $ | 8.3 |  | $ | (4.4) |
Earnings (loss) per common share: |  |  |  |  |  |  |  |
Basic | $ | (0.16) |  | $ | 0.07 |  | $ | 0.17 |  | $ | 0.17 |  | $ | 0.09 |  | $ | 0.09 |  | $ | 0.19 |  | $ | (0.10) |
Diluted | $ | (0.16) |  | $ | 0.07 |  | $ | 0.17 |  | $ | 0.17 |  | $ | 0.09 |  | $ | 0.09 |  | $ | 0.19 |  | $ | (0.10) |
Weighted average shares used to compute earnings per common share |  |  |  |  |  |  |  |
Basic | 43,341,005 |  | 43,445,789 |  | 43,488,241 |  | 43,489,698 |  | 42,601,227 |  | 42,767,785 |  | 42,817,933 |  | 42,819,589 |
Diluted | 43,341,005 |  | 43,445,789 |  | 43,510,961 |  | 44,337,242 |  | 43,071,632 |  | 43,293,022 |  | 43,354,742 |  | 42,819,589 |

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121640914&loc=d3e1280-108306 + Details
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