Consolidated Balance Sheets - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 39,972,746	$ 50,555,091
Restricted cash	1,000,000	1,000,000
Accounts receivable (net of allowance of $1,723,510 at March 31, 2020 and $1,908,841 at December 31, 2019)	23,140,149	28,309,402
Bunker inventory	19,156,816	21,001,010
Advance hire, prepaid expenses and other current assets	17,831,006	18,770,825
Vessel held for sale	0	8,319,152
Total current assets	101,100,717	127,955,480
Restricted cash	1,500,000	1,500,000
Fixed assets, net	287,533,664	281,474,857
Investment in newbuildings in-process	15,390,634	15,357,189
Finance lease right of use assets, net	46,493,362	53,615,305
Total assets	452,018,377	479,902,831
Current liabilities
Accounts payable, accrued expenses and other current liabilities	35,556,515	39,973,635
Related party debt	242,852	332,987
Deferred revenue	7,616,895	14,376,394
Current portion of secured long-term debt	22,240,674	22,990,674
Current portion of finance lease liabilities	6,902,370	12,549,208
Dividend payable	132,659	631,961
Total current liabilities	72,691,965	90,854,859
Secured long-term debt, net	81,143,060	83,649,717
Finance lease liabilities	55,768,735	57,498,217
Long-term liabilities - other - Note 8	5,052,984	4,828,364
Commitments and contingencies -Note 7
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; 45,112,062 shares issued and outstanding at March 31, 2020; 44,886,122 shares issued and outstanding at December 31, 2019	4,512	4,489
Additional paid-in capital	158,564,477	157,504,895
Retained earnings	5,941,205	12,736,580
Total Pangaea Logistics Solutions Ltd. equity	164,510,194	170,245,964
Non-controlling interests	72,851,439	72,825,710
Total stockholders' equity	237,361,633	243,071,674
Total liabilities and stockholders' equity	$ 452,018,377	$ 479,902,831