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Unaudited Quarterly Data

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Data

UNAUDITED QUARTERLY DATA


(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