Consolidated Balance Sheets - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 45,558,951	$ 50,555,091
Restricted cash	1,500,000	1,000,000
Accounts receivable (net of allowance of $1,697,961 and $1,908,841 at September 30, 2020 and December 31, 2019, respectively)	19,938,892	28,309,402
Bunker inventory	16,232,580	21,001,010
Advance hire, prepaid expenses and other current assets	22,422,135	18,770,825
Vessel held for sale	0	8,319,152
Total current assets	105,652,558	127,955,480
Restricted cash	1,000,000	1,500,000
Fixed assets, net	275,616,572	281,474,857
Investment in newbuildings in-process	15,390,635	15,357,189
Finance lease right of use assets, net	45,732,947	53,615,305
Total assets	443,392,712	479,902,831
Current liabilities
Accounts payable, accrued expenses and other current liabilities	39,092,634	39,973,635
Related party debt	242,852	332,987
Deferred revenue	10,387,175	14,376,394
Current portion of secured long-term debt	31,619,969	22,990,674
Current portion of finance lease liabilities	6,952,635	12,549,208
Dividend payable	99,127	631,961
Total current liabilities	88,394,392	90,854,859
Secured long-term debt, net	65,513,329	83,649,717
Finance lease liabilities, net	52,277,654	57,498,217
Long-term liabilities - other - Note 8	10,062,268	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 September 30, 2020; 44,886,122 shares issued and outstanding at December 31, 2019	4,507	4,489
Additional paid-in capital	159,265,939	157,504,895
Retained earnings	16,498,626	12,736,580
Total Pangaea Logistics Solutions Ltd. equity	175,769,072	170,245,964
Non-controlling interests	51,375,997	72,825,710
Total stockholders' equity	227,145,069	243,071,674
Total liabilities and stockholders' equity	$ 443,392,712	$ 479,902,831