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Pangaea Logistics trims quarterly loss
US bulker operator ends year on positive note, with an annual profit as operating margins improved.
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Found an interesting story?
Pangaea Logistics trims quarterly loss
US bulker operator ends year on positive note, with an annual profit as operating margins improved.
Pangaea Logistics Solutions shrank its quarterly loss and flipped to an annual profit as its operating margins improved.
The New York-listed bulker operator reported a loss of $4.79m in the fourth quarter, down from $17m in the same period of 2014.
The result amounted to adjusted earnings per share of $0.02.
The improved quarterly result helped the Rhode Island-based company deliver an annual profit of $11.3m, reversing a $12.1m loss in the prior year.
"Our profitable results in 2015 demonstrate the viability and success
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