Pangaea Logistics Solutions (Pangaea Logistics Solutions) Interest Expense

: $-16.7 Mil (TTM As of Dec. 2023)

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Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Pangaea Logistics Solutions's interest expense for the three months ended in Dec. 2023 was $ -3.7 Mil. Its interest expense for the trailing twelve months (TTM) ended in Dec. 2023 was $-16.7 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Pangaea Logistics Solutions's Operating Income for the three months ended in Dec. 2023 was $ 11.1 Mil. Pangaea Logistics Solutions's Interest Expense for the three months ended in Dec. 2023 was $ -3.7 Mil. Pangaea Logistics Solutions's Interest Coverage for the quarter that ended in Dec. 2023 was 2.98. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Pangaea Logistics Solutions Interest Expense Historical Data

The historical data trend for Pangaea Logistics Solutions's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Pangaea Logistics Solutions Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

-9.28

-7.83

-11.51

-22.42

-17.49

Pangaea Logistics Solutions Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Expense																-5.02	-4.25	-4.13	-4.62	-3.74

Pangaea Logistics Solutions Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-16.7 Mil.

Pangaea Logistics Solutions (NAS:PANL) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Pangaea Logistics Solutions's Interest Expense for the three months ended in Dec. 2023 was $-3.7 Mil. Its Operating Income for the three months ended in Dec. 2023 was $11.1 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Dec. 2023 was $211.7 Mil.

Pangaea Logistics Solutions's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	11.122	/	-3.735
	=	2.98

The higher the ratio, the stronger the company's financial strength is.

Pangaea Logistics Solutions (Pangaea Logistics Solutions) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Pangaea Logistics Solutions Ltd (NAS:PANL) » Definitions » Interest Expense

Comparable Companies

Traded in Other Exchanges

PGA:Germany

Address

C/o Phoenix Bulk Carriers (US) LLC, 109 Long Wharf, Newport, RI, USA, 02840

Website

https://www.pangaeals.com

Pangaea Logistics Solutions Ltd and its subsidiaries provide seaborne drybulk transportation services. It transports drybulk cargos including grains, coal, iron, ore, pig, iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. The firm's services include cargo loading, cargo discharge, vessel chartering, voyage planning and technical vessel management. The company derives all of its revenues from contracts of affreightment, voyage charters and time charters.

Executives

David Sgro	director	777 THIRD AVENUE, 37TH FLOOR, NEW YORK NY 10017
Eric Rosenfeld	director	777 THIRD AVENUE, 37TH FLOOR, NEW YORK NY 10017
Petersen Mads Rosenber Boye	officer: Chief Operating Officer	109 LONG WHARF, NEWPORT RI 02840
Karen H Beachy	director	PO BOX 1400, RAPID CITY SD 57709
Pangaea One Acquisition Holdings Xiv, Llc	10 percent owner	C/O CARTESIAN CAPITAL GROUP, LLC, 505 FIFTH AVENUE, NEW YORK NY 10017
Gianni Delsignore	officer: Chief Financial Officer	257 WICKHAM ROAD, NORTH KINGSTOWN RI 02852
Mark L Filanowski	director	C/O MARINE TRANSPORT CORP, 1200 HARBOR BOULEVARD, WEEHAWKEN NJ 07087
Nam Trinh	director	505 FIFTH AVENUE, 15TH FLOOR, CARTESIAN CAPITAL GROUP, NEW YORK NY 10017
Anthony Laura	officer: See Remarks	C/O PANGAEA LOGISTICS SOLUTIONS LTD., 109 LONG WHARF, NEWPORT RI 02840
Edward Coll	director, 10 percent owner, officer: Chief Executive Officer	C/O PANGAEA LOGISTICS SOLUTIONS LTD., 109 LONG WHARF, NEWPORT RI 02840
L.p. Malemod,	10 percent owner	C/O CARTESIAN CAPITAL GROUP, 505 FIFTH AVENUE, 15TH FLOOR, NEW YORK NY 10017
L.p. Nypsun,	10 percent owner	C/O CARTESIAN CAPITAL GROUP, 505 FIFTH AVENUE, 15TH FLOOR, NEW YORK NY 10017
L.p. Leggonly,	10 percent owner	C/O CARTESIAN CAPITAL GROUP, 505 FIFTH AVENUE, 15TH FLOOR, NEW YORK NY 10017
L.p. Imfinno,	10 percent owner	C/O CARTESIAN CAPITAL GROUP, 505 FIFTH AVENUE, 15TH FLOOR, NEW YORK NY 10017
Pangaea One Gp, Llc	10 percent owner	C/O CARTESIAN CAPITAL GROUP, 505 FIFTH AVENUE, 15TH FLOOR, NEW YORK NY 10017