Consolidated Balance Sheets - USD ($)	Jun. 30, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 59,252,910	$ 86,805,470
Accounts receivable (net of allowance of $6,526,398 and $5,492,901 at June 30, 2025 and December 31, 2024, respectively)	49,325,656	42,370,830
Inventories	38,583,748	32,848,241
Advance hire, prepaid expenses and other current assets	29,300,653	29,969,352
Vessel held for sale	7,545,828	0
Total current assets	184,008,795	191,993,893
Fixed assets, net	694,403,690	707,826,328
Right of use assets, net	27,911,848	28,771,531
Goodwill	3,104,800	3,104,800
Other non-current assets	6,566,313	4,760,529
Total assets	915,995,446	936,457,081
Current liabilities
Accounts payable, accrued expenses and other current liabilities	61,401,165	46,581,567
Deferred revenue	18,491,044	15,447,488
Current portion of secured long-term debt	16,656,227	16,576,195
Current portion of financing obligations	25,438,710	25,267,105
Current portion of lease liabilities	2,843,750	2,843,750
Dividend payable	1,117,125	1,210,991
Total current liabilities	126,009,715	109,108,111
Secured long-term debt, net	104,712,469	112,720,545
Financing Obligations, net	217,110,667	229,529,792
Finance lease liabilities, net	9,032,282	10,434,298
Commitments and contingencies - Note 9
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; 65,377,137 shares issued and outstanding at June 30, 2025; 64,961,433 shares issued and outstanding at December 31, 2024	6,539	6,498
Additional paid-in capital	259,733,610	258,659,972
Retained earnings	154,612,941	169,155,149
Total Pangaea Logistics Solutions Ltd. equity	414,353,090	427,821,619
Non-controlling interests	44,777,223	46,842,716
Total stockholders' equity	459,130,313	474,664,335
Total liabilities and stockholders' equity	915,995,446	936,457,081
Related Party
Current liabilities
Affiliated Companies payable	$ 61,694	$ 1,181,015