Yahoo Finance | EN590 Commodities
EN590 Commodities GroupMazut / HFO 2026-08-20T08:05:00+00:00
On August 11, Pangaea Logistics Solutions (NASDAQ:PANL) reported second-quarter results that showed just how much a freight market can swing in a shipper's favor. Time charter equivalent rates jumped 50% year over year, and adjusted EBITDA grew by nearly $20 million to $35 million. For a dry bulk operator whose fortunes rise and fall with global trade flows, that kind of swing is the whole story, and the question now is whether the strength carries into the back half of the year. Pangaea's second-quarter TCE rates came in at $18,153 per day, a 10% premium over the average published market rate of $16,502 per day across the Panamax, Supramax, and Handysize indices. Management attributed the gap to fleet positioning, a greater concentration of vessels in the Pacific during a period of strong
About EN590 Commodities Group
25+ years in mineral exploration and extraction. 15+ years of global commodity trading. Based in New York, USA serving 75+ countries.