Pangaea reports Q2 time-charter equivalent rates 20% above market averages for Panamax and Supramax vessels.
Pangaea Logistics Solutions secured 4,051 shipping days in Q2 at a time-charter equivalent (TCE) rate of $18,808 per day. The company cited strong demand and operational expansion as key drivers for the booking.
In Q1 2026, TCE rates averaged 20% above prevailing market rates for Panamax and Supramax vessels. Management highlighted year-over-year growth in revenue and profitability during the earnings call.
The company is expanding port operations to capitalize on current market conditions, though no immediate market reaction was detailed.