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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON , D.C. 20549 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31 , 2020 OR 0 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 Bermuda ( State or Other Jurisdiction of Incorporation or Organization ) c / o Phoenix Bulk Carriers ( US ) LLC 109 Long Wharf , Newport , RI 02840 ( Address of Principal Executive Offices ) FORM 10 - K PANGAEA LOGISTICS SOLUTIONS , LTD . ( Exact Name of Registrant as Specified in Its Charter ) Securities registered pursuant to Section 12 ( b ) of the Act : Title of each class Common Shares , $ 0.0001 par value Commission File Number : 001-36798 Large accelerated Filer Non - accelerated Filer 98-1205464 ( I.R.S. Employer Identification Number ) ( 401 ) 846-7790 ( Registrant's Telephone Number , Including Area Code ) Name of each exchange on which registered The Nasdaq Stock Market LLC Securities registered pursuant to Section 12 ( g ) of the Act : None Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes " No ý Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15 ( d ) of the Exchange Act . Yes " No ý Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Exchange Act of 1934 during the past 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirement for the past 90 days . Yes ý No Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site , if any , every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S - T during the preceding 12 months ( or for such shorter period that the registrant was required to submit and post such files ) . Yes y No Indicate by check mark if disclosure of delinquent filers in response to Item 405 of Regulation S - K is not contained herein , and will not be contained , to the best of the registrant's knowledge , in definitive proxy or information statements incorporated by reference in Part III of this Form 10 - K or any amendment to this Form 10 - K . ý Indicate by check mark whether the Registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer or a smaller reporting company . See definition of " accelerated filer " and " large accelerated filer " in Rule 12b - 2 of the Exchange Act . ( Check one ) : Accelerated Filer Smaller reporting company Emerging growth company □ □ □ If an emerging growth company , indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . ¨ Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Exchange Act ) . Yes No X The aggregate market value of the registrant's Common Stock held by non - affiliates at June 30 , 2020 was approximately $ 20.4 million based on the Nasdaq closing price for such shares on that date . The registrant has no non - voting common equity . As of March 15 , 2021 , 45,618,206 shares of Common Shares , $ .0001 par value per share were outstanding .