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,
