Movers and SHAKERS
Pangaea Logistics (PANL)
Another Strong Quarter Caps Stellar 2021
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. Its strategy depends on focusing on increasing strategic contracts of affreightment, expanding capacity and flexibility by increasing its owned fleet and increasing backhaul focus and fleet efficiency.
Poe Fratt, Senior Research Analyst, Logistics, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
4Q2021 Results Ahead of Expectations Due to TCE Rate Out Performance. 4Q2021 EBITDA of $38.0 million was ahead of expectations mainly due to higher TCE rates of $32.6k/day and higher shipping days of 5,199. Positive variance was driven by higher TCE revenue and lower opex that more than offset higher voyage and charter hire expenses.
Call with management today at 8am EST. Number is 866-518-6930 and code is PANLQ421. We expect management to highlight the fleet expansion, TCE rate out performance and attractive dry bulk market fundamentals ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.