Consolidated Balance Sheets - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 46,993,067	$ 50,555,091
Restricted cash	1,000,000	1,000,000
Accounts receivable (net of allowance of $1,723,510 and $1,908,841 at June 30, 2020 and December 31, 2019, respectively)	18,197,943	28,309,402
Bunker inventory	11,648,319	21,001,010
Advance hire, prepaid expenses and other current assets	15,575,442	18,770,825
Vessel held for sale	4,563,000	8,319,152
Total current assets	97,977,771	127,955,480
Restricted cash	1,500,000	1,500,000
Fixed assets, net	278,383,059	281,474,857
Investment in newbuildings in-process	15,400,000	15,357,189
Finance lease right of use assets, net	46,259,982	53,615,305
Total assets	439,511,446	479,902,831
Current liabilities
Accounts payable, accrued expenses and other current liabilities	26,528,278	39,973,635
Related party debt	242,852	332,987
Deferred revenue	5,343,392	14,376,394
Current portion of secured long-term debt	21,490,674	22,990,674
Current portion of finance lease liabilities	6,927,362	12,549,208
Dividend payable	95,500	631,961
Total current liabilities	60,628,058	90,854,859
Secured long-term debt, net	78,779,452	83,649,717
Finance lease liabilities, net	54,028,493	57,498,217
Long-term liabilities - other - Note 8	5,108,793	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; 45,065,662 shares issued and outstanding at June 30, 2020; 44,886,122 shares issued and outstanding at December 31, 2019	4,507	4,489
Additional paid-in capital	158,874,237	157,504,895
Retained earnings	8,946,381	12,736,580
Total Pangaea Logistics Solutions Ltd. equity	167,825,125	170,245,964
Non-controlling interests	73,141,525	72,825,710
Total stockholders' equity	240,966,650	243,071,674
Total liabilities and stockholders' equity	$ 439,511,446	$ 479,902,831