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Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current Assets    
Cash and cash equivalents $ 128,384,606 $ 56,208,902
Accounts receivable (net of allowance of $4,367,848 and $1,990,459 at December 31, 2022 and 2021, respectively) 36,755,149 54,259,265
Bunker inventory 29,104,436 27,147,760
Advance hire, prepaid expenses and other current assets 28,266,831 46,347,687
Total current assets 222,511,022 183,963,614
Fixed assets, net 476,524,752 471,912,810
Deposits Assets, Noncurrent 0 1,990,000
Investment in newbuildings in-process   1,990,000
Vessels under finance lease 43,921,569 45,195,759
Other Assets, Noncurrent 5,284,127 3,961,823
Total assets 748,241,470 707,024,006
Current liabilities    
Accounts payable, accrued expenses and other current liabilities 38,554,131 49,154,439
Related party notes payable 0 242,852
Deferred revenue 20,883,958 32,205,312
Current portion of long-term debt 15,782,530 15,443,115
Current portion of finance lease liabilities 16,365,075 14,479,803
Dividends payable 626,178 213,765
Total current liabilities 92,211,872 111,739,286
Secured long-term debt, net 98,819,739 105,836,797
Finance lease liabilities 168,513,939 170,959,553
Long-term liabilities - other - Note 11 19,974,390 17,806,976
Commitments and contingencies - Note 12
Stockholders' equity:    
Preferred stock, $0.0001 par value, 1,000,000 shares authorized and no shares issued or outstanding 0 0
Common stock, $0.0001 par value, 100,000,000 shares authorized, 45,898,395 and 45,617,840 shares issued and outstanding at December 31, 2022 and 2021, respectively 4,590 4,562
Additional paid-in capital 162,894,080 161,534,280
Retained Earnings 151,327,392 85,663,375
Total Pangaea Logistics Solutions Ltd. equity 314,226,062 247,202,217
Non-controlling interests 54,495,468 53,479,177
Total stockholders' equity 368,721,530 300,681,394
Total liabilities and stockholders' equity $ 748,241,470 $ 707,024,006