<?xml version="1.0" encoding="UTF-8"?>

<!--XBRL Document Created with the Workiva Platform-->
<!--Copyright 2026 Workiva-->
<!--r:019d49bb-b2b7-74a5-8b1e-bb9c714ca796,g:c5429794-db68-4167-bf7a-9fdf52cf6abf-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/all" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all"/>
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension"/>
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default"/>
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain"/>
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member"/>
  <link:roleRef roleURI="http://www.pangaeals.com/role/ConsolidatedBalanceSheets" xlink:type="simple" xlink:href="panl-20260331.xsd#ConsolidatedBalanceSheets"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/ConsolidatedBalanceSheets" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementLineItems_019d49bb-b367-79ee-b416-a397e4c2bc6d" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementTable_019d49bb-b367-74a7-ad10-ad6397e8d68f" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_019d49bb-b367-79ee-b416-a397e4c2bc6d" xlink:to="loc_us-gaap_StatementTable_019d49bb-b367-74a7-ad10-ad6397e8d68f" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019d49bb-b367-776d-9524-d83df1328468" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_019d49bb-b367-74a7-ad10-ad6397e8d68f" xlink:to="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019d49bb-b367-776d-9524-d83df1328468" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyDomain_019d49bb-b367-776d-9524-d83df1328468_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019d49bb-b367-776d-9524-d83df1328468" xlink:to="loc_us-gaap_RelatedPartyDomain_019d49bb-b367-776d-9524-d83df1328468_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyDomain_019d49bb-b367-7395-ad5a-75f7da99b882" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019d49bb-b367-776d-9524-d83df1328468" xlink:to="loc_us-gaap_RelatedPartyDomain_019d49bb-b367-7395-ad5a-75f7da99b882" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyMember_019d49bb-b367-78a2-9ce0-179d67ffe4ad" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_019d49bb-b367-7395-ad5a-75f7da99b882" xlink:to="loc_us-gaap_RelatedPartyMember_019d49bb-b367-78a2-9ce0-179d67ffe4ad" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsAbstract_019d49bb-b367-7140-9153-1767950e8c56" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsAbstract"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_019d49bb-b367-79ee-b416-a397e4c2bc6d" xlink:to="loc_us-gaap_AssetsAbstract_019d49bb-b367-7140-9153-1767950e8c56" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsCurrentAbstract_019d49bb-b367-7f32-b850-ac456cd288a7" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsCurrentAbstract"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AssetsAbstract_019d49bb-b367-7140-9153-1767950e8c56" xlink:to="loc_us-gaap_AssetsCurrentAbstract_019d49bb-b367-7f32-b850-ac456cd288a7" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_019d49bb-b367-766b-9572-0ec7b1a02789" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AssetsCurrentAbstract_019d49bb-b367-7f32-b850-ac456cd288a7" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_019d49bb-b367-766b-9572-0ec7b1a02789" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsReceivableNetCurrent_019d49bb-b367-7fa3-b39a-648f52bc2860" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccountsReceivableNetCurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AssetsCurrentAbstract_019d49bb-b367-7f32-b850-ac456cd288a7" xlink:to="loc_us-gaap_AccountsReceivableNetCurrent_019d49bb-b367-7fa3-b39a-648f52bc2860" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InventoryNet_019d49bb-b367-7f32-b372-a72753a34ba0" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InventoryNet"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AssetsCurrentAbstract_019d49bb-b367-7f32-b850-ac456cd288a7" xlink:to="loc_us-gaap_InventoryNet_019d49bb-b367-7f32-b372-a72753a34ba0" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrepaidExpenseAndOtherAssetsCurrent_019d49bb-b367-7003-bd1a-384cd9fc0348" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AssetsCurrentAbstract_019d49bb-b367-7f32-b850-ac456cd288a7" xlink:to="loc_us-gaap_PrepaidExpenseAndOtherAssetsCurrent_019d49bb-b367-7003-bd1a-384cd9fc0348" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupCurrent_019d49bb-b367-7ad3-abaf-1e6f5d28e710" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupCurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AssetsCurrentAbstract_019d49bb-b367-7f32-b850-ac456cd288a7" xlink:to="loc_us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupCurrent_019d49bb-b367-7ad3-abaf-1e6f5d28e710" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsCurrent_019d49bb-b367-7167-b1a7-bcf6436f1fc7" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsCurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AssetsCurrentAbstract_019d49bb-b367-7f32-b850-ac456cd288a7" xlink:to="loc_us-gaap_AssetsCurrent_019d49bb-b367-7167-b1a7-bcf6436f1fc7" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCashNoncurrent_019d49bb-b367-78e3-aaee-72574da59f21" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestrictedCashNoncurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AssetsAbstract_019d49bb-b367-7140-9153-1767950e8c56" xlink:to="loc_us-gaap_RestrictedCashNoncurrent_019d49bb-b367-78e3-aaee-72574da59f21" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_019d49bb-b367-7381-8e06-538fa6d31b38" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentNet"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AssetsAbstract_019d49bb-b367-7140-9153-1767950e8c56" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentNet_019d49bb-b367-7381-8e06-538fa6d31b38" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseRightOfUseAsset_019d49bb-b367-7118-bbd9-b90d1e46c24a" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinanceLeaseRightOfUseAsset"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AssetsAbstract_019d49bb-b367-7140-9153-1767950e8c56" xlink:to="loc_us-gaap_FinanceLeaseRightOfUseAsset_019d49bb-b367-7118-bbd9-b90d1e46c24a" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Goodwill_019d49bb-b367-7060-92a8-82cd4e7dea6f" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Goodwill"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AssetsAbstract_019d49bb-b367-7140-9153-1767950e8c56" xlink:to="loc_us-gaap_Goodwill_019d49bb-b367-7060-92a8-82cd4e7dea6f" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssetsNoncurrent_019d49bb-b367-79e4-b7e6-1d3caf925652" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherAssetsNoncurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AssetsAbstract_019d49bb-b367-7140-9153-1767950e8c56" xlink:to="loc_us-gaap_OtherAssetsNoncurrent_019d49bb-b367-79e4-b7e6-1d3caf925652" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets_019d49bb-b367-72eb-9f27-91ff6a6285bf" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Assets"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AssetsAbstract_019d49bb-b367-7140-9153-1767950e8c56" xlink:to="loc_us-gaap_Assets_019d49bb-b367-72eb-9f27-91ff6a6285bf" xlink:type="arc" order="7"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_019d49bb-b367-79f1-bd8c-906759aad269" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_019d49bb-b367-79ee-b416-a397e4c2bc6d" xlink:to="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_019d49bb-b367-79f1-bd8c-906759aad269" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesCurrentAbstract_019d49bb-b367-7ccd-a717-61341fddd721" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesCurrentAbstract"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_019d49bb-b367-79f1-bd8c-906759aad269" xlink:to="loc_us-gaap_LiabilitiesCurrentAbstract_019d49bb-b367-7ccd-a717-61341fddd721" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_AccountsPayableAccruedExpensesAndOtherCurrentLiabilities_019d49bb-b367-7fd1-9667-b44cbb645495" xlink:href="panl-20260331.xsd#panl_AccountsPayableAccruedExpensesAndOtherCurrentLiabilities"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LiabilitiesCurrentAbstract_019d49bb-b367-7ccd-a717-61341fddd721" xlink:to="loc_panl_AccountsPayableAccruedExpensesAndOtherCurrentLiabilities_019d49bb-b367-7fd1-9667-b44cbb645495" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableTradeCurrent_019d49bb-b367-7a45-82e6-7dc063d49230" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccountsPayableTradeCurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LiabilitiesCurrentAbstract_019d49bb-b367-7ccd-a717-61341fddd721" xlink:to="loc_us-gaap_AccountsPayableTradeCurrent_019d49bb-b367-7a45-82e6-7dc063d49230" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractWithCustomerLiabilityCurrent_019d49bb-b367-7356-8675-1b170faa1d7e" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ContractWithCustomerLiabilityCurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LiabilitiesCurrentAbstract_019d49bb-b367-7ccd-a717-61341fddd721" xlink:to="loc_us-gaap_ContractWithCustomerLiabilityCurrent_019d49bb-b367-7356-8675-1b170faa1d7e" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLongTermDebtCurrent_019d49bb-b367-7094-931a-e3eabb2ad5f1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherLongTermDebtCurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LiabilitiesCurrentAbstract_019d49bb-b367-7ccd-a717-61341fddd721" xlink:to="loc_us-gaap_OtherLongTermDebtCurrent_019d49bb-b367-7094-931a-e3eabb2ad5f1" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities_019d49bb-b367-7a60-83d9-2a584d2d9a38" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LiabilitiesCurrentAbstract_019d49bb-b367-7ccd-a717-61341fddd721" xlink:to="loc_us-gaap_LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities_019d49bb-b367-7a60-83d9-2a584d2d9a38" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityCurrent_019d49bb-b367-75da-bf29-8e87d3fe6c4c" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinanceLeaseLiabilityCurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LiabilitiesCurrentAbstract_019d49bb-b367-7ccd-a717-61341fddd721" xlink:to="loc_us-gaap_FinanceLeaseLiabilityCurrent_019d49bb-b367-75da-bf29-8e87d3fe6c4c" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPayableCurrent_019d49bb-b367-7112-b45c-7e7f0504623e" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsPayableCurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LiabilitiesCurrentAbstract_019d49bb-b367-7ccd-a717-61341fddd721" xlink:to="loc_us-gaap_DividendsPayableCurrent_019d49bb-b367-7112-b45c-7e7f0504623e" xlink:type="arc" order="7"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesCurrent_019d49bb-b367-7424-ac10-528377831075" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesCurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LiabilitiesCurrentAbstract_019d49bb-b367-7ccd-a717-61341fddd721" xlink:to="loc_us-gaap_LiabilitiesCurrent_019d49bb-b367-7424-ac10-528377831075" xlink:type="arc" order="8"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuredLongTermDebt_019d49bb-b367-7b61-8ae5-2192d2ac810f" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SecuredLongTermDebt"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_019d49bb-b367-79f1-bd8c-906759aad269" xlink:to="loc_us-gaap_SecuredLongTermDebt_019d49bb-b367-7b61-8ae5-2192d2ac810f" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractualObligation_019d49bb-b367-7d25-b0a0-3000f03f6191" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ContractualObligation"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_019d49bb-b367-79f1-bd8c-906759aad269" xlink:to="loc_us-gaap_ContractualObligation_019d49bb-b367-7d25-b0a0-3000f03f6191" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityNoncurrent_019d49bb-b367-7b68-91e4-9cac3bd28598" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinanceLeaseLiabilityNoncurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_019d49bb-b367-79f1-bd8c-906759aad269" xlink:to="loc_us-gaap_FinanceLeaseLiabilityNoncurrent_019d49bb-b367-7b68-91e4-9cac3bd28598" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesNoncurrent_019e07f5-c1a6-73ff-bce3-874dc69d17e6" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesNoncurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_019d49bb-b367-79f1-bd8c-906759aad269" xlink:to="loc_us-gaap_LiabilitiesNoncurrent_019e07f5-c1a6-73ff-bce3-874dc69d17e6" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies_019d49bb-b367-70a4-a598-611bfa218706" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingencies"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_019d49bb-b367-79f1-bd8c-906759aad269" xlink:to="loc_us-gaap_CommitmentsAndContingencies_019d49bb-b367-70a4-a598-611bfa218706" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityAbstract_019d49bb-b367-7928-abea-d45bc6c1f390" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityAbstract"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_019d49bb-b367-79f1-bd8c-906759aad269" xlink:to="loc_us-gaap_StockholdersEquityAbstract_019d49bb-b367-7928-abea-d45bc6c1f390" xlink:type="arc" order="7"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue_019d49bb-b367-7246-ba10-45b72a4df736" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockValue"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StockholdersEquityAbstract_019d49bb-b367-7928-abea-d45bc6c1f390" xlink:to="loc_us-gaap_CommonStockValue_019d49bb-b367-7246-ba10-45b72a4df736" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapital_019d49bb-b367-7252-a8c0-3727aca69655" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdditionalPaidInCapital"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StockholdersEquityAbstract_019d49bb-b367-7928-abea-d45bc6c1f390" xlink:to="loc_us-gaap_AdditionalPaidInCapital_019d49bb-b367-7252-a8c0-3727aca69655" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_019d49bb-b367-7f9d-9e2f-156b3633e3ca" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StockholdersEquityAbstract_019d49bb-b367-7928-abea-d45bc6c1f390" xlink:to="loc_us-gaap_RetainedEarningsAccumulatedDeficit_019d49bb-b367-7f9d-9e2f-156b3633e3ca" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity_019d49bb-b367-710f-8411-45ba6afa8f0a" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquity"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StockholdersEquityAbstract_019d49bb-b367-7928-abea-d45bc6c1f390" xlink:to="loc_us-gaap_StockholdersEquity_019d49bb-b367-710f-8411-45ba6afa8f0a" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterest_019d49bb-b367-730c-8f7d-fb26af3b9e6c" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterest"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StockholdersEquityAbstract_019d49bb-b367-7928-abea-d45bc6c1f390" xlink:to="loc_us-gaap_MinorityInterest_019d49bb-b367-730c-8f7d-fb26af3b9e6c" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_019d49bb-b367-7d41-b251-4397c8825b29" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StockholdersEquityAbstract_019d49bb-b367-7928-abea-d45bc6c1f390" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_019d49bb-b367-7d41-b251-4397c8825b29" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_019d49bb-b367-775b-8a80-b82f3805d82a" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_019d49bb-b367-79f1-bd8c-906759aad269" xlink:to="loc_us-gaap_LiabilitiesAndStockholdersEquity_019d49bb-b367-775b-8a80-b82f3805d82a" xlink:type="arc" order="8"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/ConsolidatedStatementsofIncome" xlink:type="simple" xlink:href="panl-20260331.xsd#ConsolidatedStatementsofIncome"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/ConsolidatedStatementsofIncome" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementLineItems_019d49bb-b367-77c5-b13b-234192b2e3a8" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementTable_019d49bb-b367-73b6-a082-eca37895fd2b" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_019d49bb-b367-77c5-b13b-234192b2e3a8" xlink:to="loc_us-gaap_StatementTable_019d49bb-b367-73b6-a082-eca37895fd2b" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ProductOrServiceAxis_019d49bb-b367-7abb-ad7b-c0fe5fad02b4" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ProductOrServiceAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_019d49bb-b367-73b6-a082-eca37895fd2b" xlink:to="loc_srt_ProductOrServiceAxis_019d49bb-b367-7abb-ad7b-c0fe5fad02b4" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ProductsAndServicesDomain_019d49bb-b367-7abb-ad7b-c0fe5fad02b4_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ProductsAndServicesDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_ProductOrServiceAxis_019d49bb-b367-7abb-ad7b-c0fe5fad02b4" xlink:to="loc_srt_ProductsAndServicesDomain_019d49bb-b367-7abb-ad7b-c0fe5fad02b4_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ProductsAndServicesDomain_019d49bb-b367-7e2d-a4b4-66a5170915cc" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ProductsAndServicesDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_ProductOrServiceAxis_019d49bb-b367-7abb-ad7b-c0fe5fad02b4" xlink:to="loc_srt_ProductsAndServicesDomain_019d49bb-b367-7e2d-a4b4-66a5170915cc" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_VoyageMember_019d49bb-b367-7e7e-8f62-9534645fd374" xlink:href="panl-20260331.xsd#panl_VoyageMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_019d49bb-b367-7e2d-a4b4-66a5170915cc" xlink:to="loc_panl_VoyageMember_019d49bb-b367-7e7e-8f62-9534645fd374" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_CharterMember_019d49bb-b367-7f6f-b3c7-036a8cdcee32" xlink:href="panl-20260331.xsd#panl_CharterMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_019d49bb-b367-7e2d-a4b4-66a5170915cc" xlink:to="loc_panl_CharterMember_019d49bb-b367-7f6f-b3c7-036a8cdcee32" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_TerminalStevedoreRevenueMember_019d49bb-b367-7256-a14d-4d6ae6fc0961" xlink:href="panl-20260331.xsd#panl_TerminalStevedoreRevenueMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_019d49bb-b367-7e2d-a4b4-66a5170915cc" xlink:to="loc_panl_TerminalStevedoreRevenueMember_019d49bb-b367-7256-a14d-4d6ae6fc0961" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019d49bb-b367-793c-a3dc-cfe8a416d703" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_019d49bb-b367-73b6-a082-eca37895fd2b" xlink:to="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019d49bb-b367-793c-a3dc-cfe8a416d703" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyDomain_019d49bb-b367-793c-a3dc-cfe8a416d703_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019d49bb-b367-793c-a3dc-cfe8a416d703" xlink:to="loc_us-gaap_RelatedPartyDomain_019d49bb-b367-793c-a3dc-cfe8a416d703_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyDomain_019d49bb-b367-79db-ac1b-ed3089540cb3" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019d49bb-b367-793c-a3dc-cfe8a416d703" xlink:to="loc_us-gaap_RelatedPartyDomain_019d49bb-b367-79db-ac1b-ed3089540cb3" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonrelatedPartyMember_019d49bb-b367-715c-9e61-2264c1f37db5" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NonrelatedPartyMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_019d49bb-b367-79db-ac1b-ed3089540cb3" xlink:to="loc_us-gaap_NonrelatedPartyMember_019d49bb-b367-715c-9e61-2264c1f37db5" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyMember_019d49bb-b367-7235-8a42-cb8df3ed1094" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_019d49bb-b367-79db-ac1b-ed3089540cb3" xlink:to="loc_us-gaap_RelatedPartyMember_019d49bb-b367-7235-8a42-cb8df3ed1094" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerAbstract_019d49bb-b367-7c10-83b1-acb62a5375a1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RevenueFromContractWithCustomerAbstract"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_019d49bb-b367-77c5-b13b-234192b2e3a8" xlink:to="loc_us-gaap_RevenueFromContractWithCustomerAbstract_019d49bb-b367-7c10-83b1-acb62a5375a1" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_019d49bb-b367-7f87-a984-52eb20627496" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RevenueFromContractWithCustomerAbstract_019d49bb-b367-7c10-83b1-acb62a5375a1" xlink:to="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_019d49bb-b367-7f87-a984-52eb20627496" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingExpensesAbstract_019d49bb-b367-7698-b28f-ad543141781e" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingExpensesAbstract"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_019d49bb-b367-77c5-b13b-234192b2e3a8" xlink:to="loc_us-gaap_OperatingExpensesAbstract_019d49bb-b367-7698-b28f-ad543141781e" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_VoyageExpense_019d49bb-b367-7a05-9abf-93a4d2d82f6f" xlink:href="panl-20260331.xsd#panl_VoyageExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OperatingExpensesAbstract_019d49bb-b367-7698-b28f-ad543141781e" xlink:to="loc_panl_VoyageExpense_019d49bb-b367-7a05-9abf-93a4d2d82f6f" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_CharterHireExpense_019d49bb-b367-7023-bcdf-7c27cc4ab8b1" xlink:href="panl-20260331.xsd#panl_CharterHireExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OperatingExpensesAbstract_019d49bb-b367-7698-b28f-ad543141781e" xlink:to="loc_panl_CharterHireExpense_019d49bb-b367-7023-bcdf-7c27cc4ab8b1" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_VesselOperatingExpense_019d49bb-b367-7d43-8a7d-a99ae0adf8dd" xlink:href="panl-20260331.xsd#panl_VesselOperatingExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OperatingExpensesAbstract_019d49bb-b367-7698-b28f-ad543141781e" xlink:to="loc_panl_VesselOperatingExpense_019d49bb-b367-7d43-8a7d-a99ae0adf8dd" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_TerminalStevedoreExpenses_019d49bb-b367-78c6-80c8-e0535e818923" xlink:href="panl-20260331.xsd#panl_TerminalStevedoreExpenses"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OperatingExpensesAbstract_019d49bb-b367-7698-b28f-ad543141781e" xlink:to="loc_panl_TerminalStevedoreExpenses_019d49bb-b367-78c6-80c8-e0535e818923" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense_019d49bb-b367-7056-a584-9e28548ecddf" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GeneralAndAdministrativeExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OperatingExpensesAbstract_019d49bb-b367-7698-b28f-ad543141781e" xlink:to="loc_us-gaap_GeneralAndAdministrativeExpense_019d49bb-b367-7056-a584-9e28548ecddf" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationAmortizationAndAccretionNet_019d49bb-b367-7fb4-9892-eeb27774bfbd" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DepreciationAmortizationAndAccretionNet"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OperatingExpensesAbstract_019d49bb-b367-7698-b28f-ad543141781e" xlink:to="loc_us-gaap_DepreciationAmortizationAndAccretionNet_019d49bb-b367-7fb4-9892-eeb27774bfbd" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TangibleAssetImpairmentCharges_019dfe53-bfc5-7bae-a584-8e822d6aa2cd" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TangibleAssetImpairmentCharges"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OperatingExpensesAbstract_019d49bb-b367-7698-b28f-ad543141781e" xlink:to="loc_us-gaap_TangibleAssetImpairmentCharges_019dfe53-bfc5-7bae-a584-8e822d6aa2cd" xlink:type="arc" order="7"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingExpenses_019d49bb-b367-74ff-b317-f7c73a9ae553" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingExpenses"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OperatingExpensesAbstract_019d49bb-b367-7698-b28f-ad543141781e" xlink:to="loc_us-gaap_OperatingExpenses_019d49bb-b367-74ff-b317-f7c73a9ae553" xlink:type="arc" order="8"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_019d49bb-b367-799c-94c4-c842bcdb0cd1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_019d49bb-b367-77c5-b13b-234192b2e3a8" xlink:to="loc_us-gaap_OperatingIncomeLoss_019d49bb-b367-799c-94c4-c842bcdb0cd1" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonoperatingIncomeExpenseAbstract_019d49bb-b367-7a59-81f1-1424675ff623" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NonoperatingIncomeExpenseAbstract"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_019d49bb-b367-77c5-b13b-234192b2e3a8" xlink:to="loc_us-gaap_NonoperatingIncomeExpenseAbstract_019d49bb-b367-7a59-81f1-1424675ff623" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestRevenueExpenseNet_019d49bb-b367-7a5e-8a72-824dabecf84c" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestRevenueExpenseNet"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_NonoperatingIncomeExpenseAbstract_019d49bb-b367-7a59-81f1-1424675ff623" xlink:to="loc_us-gaap_InterestRevenueExpenseNet_019d49bb-b367-7a5e-8a72-824dabecf84c" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestAndOtherIncome_019d49bb-b367-7b7c-ae27-932f6417e284" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestAndOtherIncome"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_NonoperatingIncomeExpenseAbstract_019d49bb-b367-7a59-81f1-1424675ff623" xlink:to="loc_us-gaap_InterestAndOtherIncome_019d49bb-b367-7b7c-ae27-932f6417e284" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnrealizedGainLossOnDerivatives_019d49bb-b367-7723-b21c-8d4607b40394" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UnrealizedGainLossOnDerivatives"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_NonoperatingIncomeExpenseAbstract_019d49bb-b367-7a59-81f1-1424675ff623" xlink:to="loc_us-gaap_UnrealizedGainLossOnDerivatives_019d49bb-b367-7723-b21c-8d4607b40394" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNonoperatingIncomeExpense_019d49bb-b367-7c10-ac00-1980356e97a1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherNonoperatingIncomeExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_NonoperatingIncomeExpenseAbstract_019d49bb-b367-7a59-81f1-1424675ff623" xlink:to="loc_us-gaap_OtherNonoperatingIncomeExpense_019d49bb-b367-7c10-ac00-1980356e97a1" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonoperatingIncomeExpense_019d49bb-b367-721a-93f5-3a84f2c1b9ee" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NonoperatingIncomeExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_NonoperatingIncomeExpenseAbstract_019d49bb-b367-7a59-81f1-1424675ff623" xlink:to="loc_us-gaap_NonoperatingIncomeExpense_019d49bb-b367-721a-93f5-3a84f2c1b9ee" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_019d49bb-b367-7b4a-bbb4-18e23ee746a0" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProfitLoss"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_019d49bb-b367-77c5-b13b-234192b2e3a8" xlink:to="loc_us-gaap_ProfitLoss_019d49bb-b367-7b4a-bbb4-18e23ee746a0" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_019d49bb-b367-7d9b-8f88-06e48f5a6eb9" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_019d49bb-b367-77c5-b13b-234192b2e3a8" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_019d49bb-b367-7d9b-8f88-06e48f5a6eb9" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_019d49bb-b367-7463-9c4b-83d89e075fb6" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLoss"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_019d49bb-b367-77c5-b13b-234192b2e3a8" xlink:to="loc_us-gaap_NetIncomeLoss_019d49bb-b367-7463-9c4b-83d89e075fb6" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareAbstract_019d49bb-b367-78fe-b55f-dab48ec1a1a5" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareAbstract"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_019d49bb-b367-77c5-b13b-234192b2e3a8" xlink:to="loc_us-gaap_EarningsPerShareAbstract_019d49bb-b367-78fe-b55f-dab48ec1a1a5" xlink:type="arc" order="7"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareBasic_019d49bb-b367-750c-833d-74dc48e066a7" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareBasic"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EarningsPerShareAbstract_019d49bb-b367-78fe-b55f-dab48ec1a1a5" xlink:to="loc_us-gaap_EarningsPerShareBasic_019d49bb-b367-750c-833d-74dc48e066a7" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareDiluted_019d49bb-b367-7f13-9e9c-f7958552a13c" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareDiluted"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EarningsPerShareAbstract_019d49bb-b367-78fe-b55f-dab48ec1a1a5" xlink:to="loc_us-gaap_EarningsPerShareDiluted_019d49bb-b367-7f13-9e9c-f7958552a13c" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_EarningsPerShareOtherDisclosureAbstract_019d49bb-b367-7508-bbcd-73c0b03e2d08" xlink:href="panl-20260331.xsd#panl_EarningsPerShareOtherDisclosureAbstract"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_019d49bb-b367-77c5-b13b-234192b2e3a8" xlink:to="loc_panl_EarningsPerShareOtherDisclosureAbstract_019d49bb-b367-7508-bbcd-73c0b03e2d08" xlink:type="arc" order="8"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_019d49bb-b367-76e8-b647-0f5a4b4d17b6" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_panl_EarningsPerShareOtherDisclosureAbstract_019d49bb-b367-7508-bbcd-73c0b03e2d08" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_019d49bb-b367-76e8-b647-0f5a4b4d17b6" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_019d49bb-b367-76c6-92c3-7ee6bcfe4d78" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_panl_EarningsPerShareOtherDisclosureAbstract_019d49bb-b367-7508-bbcd-73c0b03e2d08" xlink:to="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_019d49bb-b367-76c6-92c3-7ee6bcfe4d78" xlink:type="arc" order="2"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/ConsolidatedStatementsofStockholdersEquity" xlink:type="simple" xlink:href="panl-20260331.xsd#ConsolidatedStatementsofStockholdersEquity"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/ConsolidatedStatementsofStockholdersEquity" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementLineItems_019d49bb-b429-7344-94df-fe0f5e48e1fd" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementTable_019d49bb-b429-7ec6-bbb7-35a43afa1ea7" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_019d49bb-b429-7344-94df-fe0f5e48e1fd" xlink:to="loc_us-gaap_StatementTable_019d49bb-b429-7ec6-bbb7-35a43afa1ea7" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_019d49bb-b429-70e2-a399-35a9f74f6111" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementEquityComponentsAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_019d49bb-b429-7ec6-bbb7-35a43afa1ea7" xlink:to="loc_us-gaap_StatementEquityComponentsAxis_019d49bb-b429-70e2-a399-35a9f74f6111" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityComponentDomain_019d49bb-b429-70e2-a399-35a9f74f6111_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityComponentDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_019d49bb-b429-70e2-a399-35a9f74f6111" xlink:to="loc_us-gaap_EquityComponentDomain_019d49bb-b429-70e2-a399-35a9f74f6111_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityComponentDomain_019d49bb-b429-76d1-9ea1-35531ad26518" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityComponentDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_019d49bb-b429-70e2-a399-35a9f74f6111" xlink:to="loc_us-gaap_EquityComponentDomain_019d49bb-b429-76d1-9ea1-35531ad26518" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ParentMember_019d49bb-b429-71b7-9fdd-b7945d7cd25c" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ParentMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_019d49bb-b429-76d1-9ea1-35531ad26518" xlink:to="loc_us-gaap_ParentMember_019d49bb-b429-71b7-9fdd-b7945d7cd25c" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockMember_019d49bb-b429-745a-a25f-26769233a46e" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ParentMember_019d49bb-b429-71b7-9fdd-b7945d7cd25c" xlink:to="loc_us-gaap_CommonStockMember_019d49bb-b429-745a-a25f-26769233a46e" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember_019d49bb-b429-7746-913f-7d169a0a65c5" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdditionalPaidInCapitalMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ParentMember_019d49bb-b429-71b7-9fdd-b7945d7cd25c" xlink:to="loc_us-gaap_AdditionalPaidInCapitalMember_019d49bb-b429-7746-913f-7d169a0a65c5" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsMember_019d49bb-b429-7fae-9d82-ecea33ba777a" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RetainedEarningsMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ParentMember_019d49bb-b429-71b7-9fdd-b7945d7cd25c" xlink:to="loc_us-gaap_RetainedEarningsMember_019d49bb-b429-7fae-9d82-ecea33ba777a" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestMember_019d49bb-b429-7eed-b68c-9b33ec016353" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NoncontrollingInterestMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_019d49bb-b429-76d1-9ea1-35531ad26518" xlink:to="loc_us-gaap_NoncontrollingInterestMember_019d49bb-b429-7eed-b68c-9b33ec016353" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_019d49bb-b429-7422-9d82-75fbbec7d0d2" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_019d49bb-b429-7344-94df-fe0f5e48e1fd" xlink:to="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_019d49bb-b429-7422-9d82-75fbbec7d0d2" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SharesOutstanding_019d49bb-b429-78e4-b8a9-fddccaaa5a16" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SharesOutstanding"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_019d49bb-b429-7422-9d82-75fbbec7d0d2" xlink:to="loc_us-gaap_SharesOutstanding_019d49bb-b429-78e4-b8a9-fddccaaa5a16" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_019d49bb-b429-73e3-9f83-22e7b3dc2443" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_019d49bb-b429-7422-9d82-75fbbec7d0d2" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_019d49bb-b429-73e3-9f83-22e7b3dc2443" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_019d49bb-b429-74e0-a62f-347867eade10" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_019d49bb-b429-7422-9d82-75fbbec7d0d2" xlink:to="loc_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_019d49bb-b429-74e0-a62f-347867eade10" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_019d49bb-b429-70cd-bfca-4fbf66047672" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_019d49bb-b429-7422-9d82-75fbbec7d0d2" xlink:to="loc_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_019d49bb-b429-70cd-bfca-4fbf66047672" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_019d49bb-b429-789c-9740-1315ef9a81aa" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_019d49bb-b429-7422-9d82-75fbbec7d0d2" xlink:to="loc_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_019d49bb-b429-789c-9740-1315ef9a81aa" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_019d49bb-b429-79c2-9c35-e2f941b208b9" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_019d49bb-b429-7422-9d82-75fbbec7d0d2" xlink:to="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_019d49bb-b429-79c2-9c35-e2f941b208b9" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsCommonStock_019d49bb-b429-78e3-8b5c-4343fcafb4cd" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsCommonStock"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_019d49bb-b429-7422-9d82-75fbbec7d0d2" xlink:to="loc_us-gaap_DividendsCommonStock_019d49bb-b429-78e3-8b5c-4343fcafb4cd" xlink:type="arc" order="7"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_019d49bb-b429-72d2-ac22-1627bef2942b" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProfitLoss"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_019d49bb-b429-7422-9d82-75fbbec7d0d2" xlink:to="loc_us-gaap_ProfitLoss_019d49bb-b429-72d2-ac22-1627bef2942b" xlink:type="arc" order="8"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SharesOutstanding_019d49bb-b429-711f-9f11-75dbb397c206" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SharesOutstanding"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_019d49bb-b429-79b3-8280-04da4ae2f5f1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/GeneralInformationandRecentEventsDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#GeneralInformationandRecentEventsDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/GeneralInformationandRecentEventsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-7918-bec5-fb272b70e4ff" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_019d49bb-b429-7c37-bcff-0ead3f8feadc" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-7918-bec5-fb272b70e4ff" xlink:to="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_019d49bb-b429-7c37-bcff-0ead3f8feadc" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_019d49bb-b429-7211-9aa9-5ab39a2877dc" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_019d49bb-b429-7c37-bcff-0ead3f8feadc" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_019d49bb-b429-7211-9aa9-5ab39a2877dc" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7211-9aa9-5ab39a2877dc_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_019d49bb-b429-7211-9aa9-5ab39a2877dc" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7211-9aa9-5ab39a2877dc_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7070-8b55-8f6b5b47c4fc" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_019d49bb-b429-7211-9aa9-5ab39a2877dc" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7070-8b55-8f6b5b47c4fc" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_PanamaxMember_019d49bb-b429-711a-b8d7-0e2378a59ddb" xlink:href="panl-20260331.xsd#panl_PanamaxMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7070-8b55-8f6b5b47c4fc" xlink:to="loc_panl_PanamaxMember_019d49bb-b429-711a-b8d7-0e2378a59ddb" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_UltramaxIceClass1CMember_019d49bb-b429-783d-b105-ad2e41884ef4" xlink:href="panl-20260331.xsd#panl_UltramaxIceClass1CMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7070-8b55-8f6b5b47c4fc" xlink:to="loc_panl_UltramaxIceClass1CMember_019d49bb-b429-783d-b105-ad2e41884ef4" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_UltramaxMember_019d49bb-b429-7bf2-9701-51baebcc9bec" xlink:href="panl-20260331.xsd#panl_UltramaxMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7070-8b55-8f6b5b47c4fc" xlink:to="loc_panl_UltramaxMember_019d49bb-b429-7bf2-9701-51baebcc9bec" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_SupramaxMember_019d49bb-b429-7543-8b97-2d159e6e78f5" xlink:href="panl-20260331.xsd#panl_SupramaxMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7070-8b55-8f6b5b47c4fc" xlink:to="loc_panl_SupramaxMember_019d49bb-b429-7543-8b97-2d159e6e78f5" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_PostPanamaxIceClass1AMember_019d49bb-b429-7f42-b1e2-a33aaad5768a" xlink:href="panl-20260331.xsd#panl_PostPanamaxIceClass1AMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7070-8b55-8f6b5b47c4fc" xlink:to="loc_panl_PostPanamaxIceClass1AMember_019d49bb-b429-7f42-b1e2-a33aaad5768a" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_PanamaxIceClass1AMember_019d49bb-b429-7e47-9758-76ac5df33e07" xlink:href="panl-20260331.xsd#panl_PanamaxIceClass1AMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7070-8b55-8f6b5b47c4fc" xlink:to="loc_panl_PanamaxIceClass1AMember_019d49bb-b429-7e47-9758-76ac5df33e07" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_HandysizeMember_019dda95-7e60-7463-ac61-a79650ad3bcc" xlink:href="panl-20260331.xsd#panl_HandysizeMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7070-8b55-8f6b5b47c4fc" xlink:to="loc_panl_HandysizeMember_019dda95-7e60-7463-ac61-a79650ad3bcc" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-7484-a3a1-d76b75ca89a6" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_019d49bb-b429-7c37-bcff-0ead3f8feadc" xlink:to="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-7484-a3a1-d76b75ca89a6" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7484-a3a1-d76b75ca89a6_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_EquityMethodInvesteeNameDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-7484-a3a1-d76b75ca89a6" xlink:to="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7484-a3a1-d76b75ca89a6_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7a42-b4f2-f2113e00926d" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_EquityMethodInvesteeNameDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-7484-a3a1-d76b75ca89a6" xlink:to="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7a42-b4f2-f2113e00926d" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_OwnerOfDeckBargeMember_019d49bb-b429-7002-8c63-d663551ac89e" xlink:href="panl-20260331.xsd#panl_OwnerOfDeckBargeMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7a42-b4f2-f2113e00926d" xlink:to="loc_panl_OwnerOfDeckBargeMember_019d49bb-b429-7002-8c63-d663551ac89e" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_NordicBulkVenturesHoldingCompanyLtd.Member_019d49bb-b429-7849-8302-6cb5c7a4fa2d" xlink:href="panl-20260331.xsd#panl_NordicBulkVenturesHoldingCompanyLtd.Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7a42-b4f2-f2113e00926d" xlink:to="loc_panl_NordicBulkVenturesHoldingCompanyLtd.Member_019d49bb-b429-7849-8302-6cb5c7a4fa2d" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LegalEntityAxis_019d49bb-b429-7ae3-a115-f1118c621d2f" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_LegalEntityAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_019d49bb-b429-7c37-bcff-0ead3f8feadc" xlink:to="loc_dei_LegalEntityAxis_019d49bb-b429-7ae3-a115-f1118c621d2f" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityDomain_019d49bb-b429-7ae3-a115-f1118c621d2f_default" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_dei_LegalEntityAxis_019d49bb-b429-7ae3-a115-f1118c621d2f" xlink:to="loc_dei_EntityDomain_019d49bb-b429-7ae3-a115-f1118c621d2f_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityDomain_019d49bb-b429-7997-ba8e-9b8c462c84f9" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_dei_LegalEntityAxis_019d49bb-b429-7ae3-a115-f1118c621d2f" xlink:to="loc_dei_EntityDomain_019d49bb-b429-7997-ba8e-9b8c462c84f9" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_NordicBulkVenturesHoldingCompanyLtd.Member_019d49bb-b429-7544-8340-94e0c6b337d4" xlink:href="panl-20260331.xsd#panl_NordicBulkVenturesHoldingCompanyLtd.Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityDomain_019d49bb-b429-7997-ba8e-9b8c462c84f9" xlink:to="loc_panl_NordicBulkVenturesHoldingCompanyLtd.Member_019d49bb-b429-7544-8340-94e0c6b337d4" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_NumberOfVessels_019d49bb-b429-7d3b-b773-b350bec46656" xlink:href="panl-20260331.xsd#panl_NumberOfVessels"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-7918-bec5-fb272b70e4ff" xlink:to="loc_panl_NumberOfVessels_019d49bb-b429-7d3b-b773-b350bec46656" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_019d49bb-b429-792a-9db6-030816430b8b" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-7918-bec5-fb272b70e4ff" xlink:to="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_019d49bb-b429-792a-9db6-030816430b8b" xlink:type="arc" order="1"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/BasisofPresentationandSignificantAccountingPoliciesAdditionalInformationDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#BasisofPresentationandSignificantAccountingPoliciesAdditionalInformationDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/BasisofPresentationandSignificantAccountingPoliciesAdditionalInformationDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-73cc-adf2-ecaee9281308" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_019d49bb-b429-7772-be42-18dbf4787e94" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-73cc-adf2-ecaee9281308" xlink:to="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_019d49bb-b429-7772-be42-18dbf4787e94" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MajorCustomersAxis_019d49bb-b429-7b5f-975a-1cc542777719" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MajorCustomersAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_019d49bb-b429-7772-be42-18dbf4787e94" xlink:to="loc_srt_MajorCustomersAxis_019d49bb-b429-7b5f-975a-1cc542777719" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_NameOfMajorCustomerDomain_019d49bb-b429-7b5f-975a-1cc542777719_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_NameOfMajorCustomerDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_MajorCustomersAxis_019d49bb-b429-7b5f-975a-1cc542777719" xlink:to="loc_srt_NameOfMajorCustomerDomain_019d49bb-b429-7b5f-975a-1cc542777719_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_NameOfMajorCustomerDomain_019d49bb-b429-7fdc-becb-dc8362eb43da" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_NameOfMajorCustomerDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_MajorCustomersAxis_019d49bb-b429-7b5f-975a-1cc542777719" xlink:to="loc_srt_NameOfMajorCustomerDomain_019d49bb-b429-7fdc-becb-dc8362eb43da" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_OneCustomerMember_019d49bb-b429-744a-974f-4d8156befec3" xlink:href="panl-20260331.xsd#panl_OneCustomerMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_NameOfMajorCustomerDomain_019d49bb-b429-7fdc-becb-dc8362eb43da" xlink:to="loc_panl_OneCustomerMember_019d49bb-b429-744a-974f-4d8156befec3" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskByBenchmarkAxis_019d49bb-b429-7618-a08e-4711a28f496a" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_019d49bb-b429-7772-be42-18dbf4787e94" xlink:to="loc_us-gaap_ConcentrationRiskByBenchmarkAxis_019d49bb-b429-7618-a08e-4711a28f496a" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskBenchmarkDomain_019d49bb-b429-7618-a08e-4711a28f496a_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskBenchmarkDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_ConcentrationRiskByBenchmarkAxis_019d49bb-b429-7618-a08e-4711a28f496a" xlink:to="loc_us-gaap_ConcentrationRiskBenchmarkDomain_019d49bb-b429-7618-a08e-4711a28f496a_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskBenchmarkDomain_019d49bb-b429-7e7d-bc63-4f7108f2b5de" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskBenchmarkDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_ConcentrationRiskByBenchmarkAxis_019d49bb-b429-7618-a08e-4711a28f496a" xlink:to="loc_us-gaap_ConcentrationRiskBenchmarkDomain_019d49bb-b429-7e7d-bc63-4f7108f2b5de" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsReceivableMember_019d49bb-b429-7992-992d-8ffa3ca231ee" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccountsReceivableMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ConcentrationRiskBenchmarkDomain_019d49bb-b429-7e7d-bc63-4f7108f2b5de" xlink:to="loc_us-gaap_AccountsReceivableMember_019d49bb-b429-7992-992d-8ffa3ca231ee" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskByTypeAxis_019d49bb-b429-7782-8890-ebd435bcbc6f" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskByTypeAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_019d49bb-b429-7772-be42-18dbf4787e94" xlink:to="loc_us-gaap_ConcentrationRiskByTypeAxis_019d49bb-b429-7782-8890-ebd435bcbc6f" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskTypeDomain_019d49bb-b429-7782-8890-ebd435bcbc6f_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_ConcentrationRiskByTypeAxis_019d49bb-b429-7782-8890-ebd435bcbc6f" xlink:to="loc_us-gaap_ConcentrationRiskTypeDomain_019d49bb-b429-7782-8890-ebd435bcbc6f_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskTypeDomain_019d49bb-b429-76e7-8669-64c1739715f6" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_ConcentrationRiskByTypeAxis_019d49bb-b429-7782-8890-ebd435bcbc6f" xlink:to="loc_us-gaap_ConcentrationRiskTypeDomain_019d49bb-b429-76e7-8669-64c1739715f6" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeographicConcentrationRiskMember_019d49bb-b429-7f24-9269-6838383fa3fe" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GeographicConcentrationRiskMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ConcentrationRiskTypeDomain_019d49bb-b429-76e7-8669-64c1739715f6" xlink:to="loc_us-gaap_GeographicConcentrationRiskMember_019d49bb-b429-7f24-9269-6838383fa3fe" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeAxis_019d49bb-b429-73ee-98f7-3618b378f2b4" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_019d49bb-b429-7772-be42-18dbf4787e94" xlink:to="loc_srt_RangeAxis_019d49bb-b429-73ee-98f7-3618b378f2b4" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeMember_019d49bb-b429-73ee-98f7-3618b378f2b4_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_RangeAxis_019d49bb-b429-73ee-98f7-3618b378f2b4" xlink:to="loc_srt_RangeMember_019d49bb-b429-73ee-98f7-3618b378f2b4_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeMember_019d49bb-b429-7a11-a72f-2d2686a27ef3" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_RangeAxis_019d49bb-b429-73ee-98f7-3618b378f2b4" xlink:to="loc_srt_RangeMember_019d49bb-b429-7a11-a72f-2d2686a27ef3" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MinimumMember_019d49bb-b429-7128-bb41-831a1d43c26c" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MinimumMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_019d49bb-b429-7a11-a72f-2d2686a27ef3" xlink:to="loc_srt_MinimumMember_019d49bb-b429-7128-bb41-831a1d43c26c" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MaximumMember_019d49bb-b429-7fa3-b837-3b1d01e1a899" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MaximumMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_019d49bb-b429-7a11-a72f-2d2686a27ef3" xlink:to="loc_srt_MaximumMember_019d49bb-b429-7fa3-b837-3b1d01e1a899" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskPercentage1_019d49bb-b429-773c-98cc-31c90b70f345" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskPercentage1"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-73cc-adf2-ecaee9281308" xlink:to="loc_us-gaap_ConcentrationRiskPercentage1_019d49bb-b429-773c-98cc-31c90b70f345" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions_019e0827-b96d-7021-ba74-467085d798cd" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentDividendsOrDistributions"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-73cc-adf2-ecaee9281308" xlink:to="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions_019e0827-b96d-7021-ba74-467085d798cd" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_NumberOfVesselsLeasedToCustomers_019d49bb-b429-7f14-a784-2da9316d2f6a" xlink:href="panl-20260331.xsd#panl_NumberOfVesselsLeasedToCustomers"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-73cc-adf2-ecaee9281308" xlink:to="loc_panl_NumberOfVesselsLeasedToCustomers_019d49bb-b429-7f14-a784-2da9316d2f6a" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseTermOfContract_019d49bb-b429-7783-b7a6-e1cbb6384693" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseTermOfContract"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-73cc-adf2-ecaee9281308" xlink:to="loc_us-gaap_LesseeOperatingLeaseTermOfContract_019d49bb-b429-7783-b7a6-e1cbb6384693" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeasePayments_019d49bb-b429-7a0c-a637-2581131dde02" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingLeasePayments"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-73cc-adf2-ecaee9281308" xlink:to="loc_us-gaap_OperatingLeasePayments_019d49bb-b429-7a0c-a637-2581131dde02" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_TimeCharterTermToCompletion_019d49bb-b429-707d-b17d-7f969ef7f8f7" xlink:href="panl-20260331.xsd#panl_TimeCharterTermToCompletion"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-73cc-adf2-ecaee9281308" xlink:to="loc_panl_TimeCharterTermToCompletion_019d49bb-b429-707d-b17d-7f969ef7f8f7" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_NumberOfNoncancelableOfficeLeases_019d49bb-b429-77fa-9e69-188c8d0ea381" xlink:href="panl-20260331.xsd#panl_NumberOfNoncancelableOfficeLeases"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-73cc-adf2-ecaee9281308" xlink:to="loc_panl_NumberOfNoncancelableOfficeLeases_019d49bb-b429-77fa-9e69-188c8d0ea381" xlink:type="arc" order="6"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/BasisofPresentationandSignificantAccountingOtherNoncurrentAssetsDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#BasisofPresentationandSignificantAccountingOtherNoncurrentAssetsDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/BasisofPresentationandSignificantAccountingOtherNoncurrentAssetsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_019d49bb-b429-7156-ba38-656b8c15f7ce" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_019d49bb-b429-73ba-aba1-aace4316e9bb" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_019d49bb-b429-7156-ba38-656b8c15f7ce" xlink:to="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_019d49bb-b429-73ba-aba1-aace4316e9bb" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-75ec-9d3a-810097c3acc9" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_019d49bb-b429-73ba-aba1-aace4316e9bb" xlink:to="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-75ec-9d3a-810097c3acc9" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-75ec-9d3a-810097c3acc9_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_EquityMethodInvesteeNameDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-75ec-9d3a-810097c3acc9" xlink:to="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-75ec-9d3a-810097c3acc9_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-701e-90f3-fcf02787acf5" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_EquityMethodInvesteeNameDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-75ec-9d3a-810097c3acc9" xlink:to="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-701e-90f3-fcf02787acf5" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_SeamarManagementsS.A.Member_019d49bb-b429-7304-a4bd-38fa5e7cd837" xlink:href="panl-20260331.xsd#panl_SeamarManagementsS.A.Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-701e-90f3-fcf02787acf5" xlink:to="loc_panl_SeamarManagementsS.A.Member_019d49bb-b429-7304-a4bd-38fa5e7cd837" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_PangaeaLogisticsSolutionsUSLCCMember_019d49bb-b429-7bbc-b593-8a5b86457b50" xlink:href="panl-20260331.xsd#panl_PangaeaLogisticsSolutionsUSLCCMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-701e-90f3-fcf02787acf5" xlink:to="loc_panl_PangaeaLogisticsSolutionsUSLCCMember_019d49bb-b429-7bbc-b593-8a5b86457b50" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BayStevedoringLLCMember_019d49bb-b429-7df5-ae50-22f9e25f99af" xlink:href="panl-20260331.xsd#panl_BayStevedoringLLCMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-701e-90f3-fcf02787acf5" xlink:to="loc_panl_BayStevedoringLLCMember_019d49bb-b429-7df5-ae50-22f9e25f99af" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_OtherInvestmentsAxis_019d49bb-b429-7af9-8378-b71108aad7b0" xlink:href="panl-20260331.xsd#panl_OtherInvestmentsAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_019d49bb-b429-73ba-aba1-aace4316e9bb" xlink:to="loc_panl_OtherInvestmentsAxis_019d49bb-b429-7af9-8378-b71108aad7b0" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_OtherInvestmentsDomain_019d49bb-b429-7af9-8378-b71108aad7b0_default" xlink:href="panl-20260331.xsd#panl_OtherInvestmentsDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_panl_OtherInvestmentsAxis_019d49bb-b429-7af9-8378-b71108aad7b0" xlink:to="loc_panl_OtherInvestmentsDomain_019d49bb-b429-7af9-8378-b71108aad7b0_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_OtherInvestmentsDomain_019d49bb-b429-72c9-812d-c690fb140c29" xlink:href="panl-20260331.xsd#panl_OtherInvestmentsDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_panl_OtherInvestmentsAxis_019d49bb-b429-7af9-8378-b71108aad7b0" xlink:to="loc_panl_OtherInvestmentsDomain_019d49bb-b429-72c9-812d-c690fb140c29" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_OthersMember_019d49bb-b429-73a1-9d51-54a920018d67" xlink:href="panl-20260331.xsd#panl_OthersMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_panl_OtherInvestmentsDomain_019d49bb-b429-72c9-812d-c690fb140c29" xlink:to="loc_panl_OthersMember_019d49bb-b429-73a1-9d51-54a920018d67" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeAxis_019d49bb-b429-7fd3-8ed9-72ffdde069bb" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_019d49bb-b429-73ba-aba1-aace4316e9bb" xlink:to="loc_srt_RangeAxis_019d49bb-b429-7fd3-8ed9-72ffdde069bb" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeMember_019d49bb-b429-7fd3-8ed9-72ffdde069bb_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_RangeAxis_019d49bb-b429-7fd3-8ed9-72ffdde069bb" xlink:to="loc_srt_RangeMember_019d49bb-b429-7fd3-8ed9-72ffdde069bb_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeMember_019d49bb-b429-719a-bf68-9d50971f64a3" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_RangeAxis_019d49bb-b429-7fd3-8ed9-72ffdde069bb" xlink:to="loc_srt_RangeMember_019d49bb-b429-719a-bf68-9d50971f64a3" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MinimumMember_019d49bb-b429-7c08-95fc-9cf4751fb12c" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MinimumMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_019d49bb-b429-719a-bf68-9d50971f64a3" xlink:to="loc_srt_MinimumMember_019d49bb-b429-7c08-95fc-9cf4751fb12c" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MaximumMember_019d49bb-b429-7b53-92c6-3d2ab6e5036c" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MaximumMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_019d49bb-b429-719a-bf68-9d50971f64a3" xlink:to="loc_srt_MaximumMember_019d49bb-b429-7b53-92c6-3d2ab6e5036c" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_019d49bb-b429-7f9d-bc47-d1ce346f7703" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_019d49bb-b429-7156-ba38-656b8c15f7ce" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_019d49bb-b429-7f9d-bc47-d1ce346f7703" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherIntangibleAssetsNet_019d49bb-b429-7b49-bb47-29e3e8de2d22" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherIntangibleAssetsNet"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_019d49bb-b429-7156-ba38-656b8c15f7ce" xlink:to="loc_us-gaap_OtherIntangibleAssetsNet_019d49bb-b429-7b49-bb47-29e3e8de2d22" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentsAndOtherNoncurrentAssets_019d49bb-b429-71ed-99ef-771cce46a85e" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentsAndOtherNoncurrentAssets"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_019d49bb-b429-7156-ba38-656b8c15f7ce" xlink:to="loc_us-gaap_InvestmentsAndOtherNoncurrentAssets_019d49bb-b429-71ed-99ef-771cce46a85e" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetUsefulLife_019d49bb-b429-7989-abc0-c9ccec9afb78" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetUsefulLife"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_019d49bb-b429-7156-ba38-656b8c15f7ce" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetUsefulLife_019d49bb-b429-7989-abc0-c9ccec9afb78" xlink:type="arc" order="3"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/CashandCashEquivalentsDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#CashandCashEquivalentsDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/CashandCashEquivalentsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsLineItems_019d49bb-b429-72c0-a4ad-0442771737b4" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfCashAndCashEquivalentsTable_019d49bb-b429-7545-97b5-25c1bbc9c4aa" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfCashAndCashEquivalentsTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_CashAndCashEquivalentsLineItems_019d49bb-b429-72c0-a4ad-0442771737b4" xlink:to="loc_us-gaap_ScheduleOfCashAndCashEquivalentsTable_019d49bb-b429-7545-97b5-25c1bbc9c4aa" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAxis_019d49bb-b429-7512-8159-d759ff9eb75e" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfCashAndCashEquivalentsTable_019d49bb-b429-7545-97b5-25c1bbc9c4aa" xlink:to="loc_us-gaap_CashAndCashEquivalentsAxis_019d49bb-b429-7512-8159-d759ff9eb75e" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_019d49bb-b429-7512-8159-d759ff9eb75e_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_CashAndCashEquivalentsAxis_019d49bb-b429-7512-8159-d759ff9eb75e" xlink:to="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_019d49bb-b429-7512-8159-d759ff9eb75e_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_019d49bb-b429-7a24-b1f5-3b3fd8a65fca" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_CashAndCashEquivalentsAxis_019d49bb-b429-7512-8159-d759ff9eb75e" xlink:to="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_019d49bb-b429-7a24-b1f5-3b3fd8a65fca" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_PangaeaMember_019d49bb-b429-7cfe-98ac-5328dc0c627b" xlink:href="panl-20260331.xsd#panl_PangaeaMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_019d49bb-b429-7a24-b1f5-3b3fd8a65fca" xlink:to="loc_panl_PangaeaMember_019d49bb-b429-7cfe-98ac-5328dc0c627b" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_NBHCMember_019d49bb-b429-75c7-8c38-733286a0f0e3" xlink:href="panl-20260331.xsd#panl_NBHCMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_019d49bb-b429-7a24-b1f5-3b3fd8a65fca" xlink:to="loc_panl_NBHCMember_019d49bb-b429-75c7-8c38-733286a0f0e3" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_NBPMember_019d49bb-b429-7973-b475-1fbe17035368" xlink:href="panl-20260331.xsd#panl_NBPMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_019d49bb-b429-7a24-b1f5-3b3fd8a65fca" xlink:to="loc_panl_NBPMember_019d49bb-b429-7973-b475-1fbe17035368" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-7a8c-ac18-54a0ba1b0409" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfCashAndCashEquivalentsTable_019d49bb-b429-7545-97b5-25c1bbc9c4aa" xlink:to="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-7a8c-ac18-54a0ba1b0409" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7a8c-ac18-54a0ba1b0409_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_EquityMethodInvesteeNameDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-7a8c-ac18-54a0ba1b0409" xlink:to="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7a8c-ac18-54a0ba1b0409_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7a70-a32b-a8bbce7e8bac" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_EquityMethodInvesteeNameDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-7a8c-ac18-54a0ba1b0409" xlink:to="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7a70-a32b-a8bbce7e8bac" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_PangaeaMember_019d49bb-b429-7db5-8660-3f1e69ed8e36" xlink:href="panl-20260331.xsd#panl_PangaeaMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7a70-a32b-a8bbce7e8bac" xlink:to="loc_panl_PangaeaMember_019d49bb-b429-7db5-8660-3f1e69ed8e36" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_NordicBulkVenturesHoldingCompanyLtd.Member_019d49bb-b429-7512-ab0f-fb72e885021f" xlink:href="panl-20260331.xsd#panl_NordicBulkVenturesHoldingCompanyLtd.Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7a70-a32b-a8bbce7e8bac" xlink:to="loc_panl_NordicBulkVenturesHoldingCompanyLtd.Member_019d49bb-b429-7512-ab0f-fb72e885021f" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_DeckBargeMember_019d49bb-b429-7daa-b151-bf1e8aeec777" xlink:href="panl-20260331.xsd#panl_DeckBargeMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7a70-a32b-a8bbce7e8bac" xlink:to="loc_panl_DeckBargeMember_019d49bb-b429-7daa-b151-bf1e8aeec777" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_019d49bb-b429-7ac4-8854-09dbc41014ff" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_CashAndCashEquivalentsLineItems_019d49bb-b429-72c0-a4ad-0442771737b4" xlink:to="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_019d49bb-b429-7ac4-8854-09dbc41014ff" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_019d49bb-b429-7d93-bde4-7f36a5a3aba7" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_CashAndCashEquivalentsLineItems_019d49bb-b429-72c0-a4ad-0442771737b4" xlink:to="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_019d49bb-b429-7d93-bde4-7f36a5a3aba7" xlink:type="arc" order="1"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/FixedAssetsDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#FixedAssetsDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/FixedAssetsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-7aae-b92f-430e0252d1a1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_019d49bb-b429-7fd2-894e-6fdadceddfa8" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-7aae-b92f-430e0252d1a1" xlink:to="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_019d49bb-b429-7fd2-894e-6fdadceddfa8" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_019d49bb-b429-7ccf-8240-51c53065f991" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_019d49bb-b429-7fd2-894e-6fdadceddfa8" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_019d49bb-b429-7ccf-8240-51c53065f991" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7ccf-8240-51c53065f991_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_019d49bb-b429-7ccf-8240-51c53065f991" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7ccf-8240-51c53065f991_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_019d49bb-b429-7ccf-8240-51c53065f991" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvNORDICODYSSEYMember_019d49bb-b429-7a86-b777-782e69d0649e" xlink:href="panl-20260331.xsd#panl_MvNORDICODYSSEYMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvNORDICODYSSEYMember_019d49bb-b429-7a86-b777-782e69d0649e" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvNordicOrionMember_019d49bb-b429-7fcb-a0d5-a8ff11ed2d65" xlink:href="panl-20260331.xsd#panl_MvNordicOrionMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvNordicOrionMember_019d49bb-b429-7fcb-a0d5-a8ff11ed2d65" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvNORDICOSHIMAMember_019d49bb-b429-7cd8-ae6c-18a6d32203a2" xlink:href="panl-20260331.xsd#panl_MvNORDICOSHIMAMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvNORDICOSHIMAMember_019d49bb-b429-7cd8-ae6c-18a6d32203a2" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvNordicOlympicMember_019d49bb-b429-7e62-b1cb-aad7760a25a4" xlink:href="panl-20260331.xsd#panl_MvNordicOlympicMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvNordicOlympicMember_019d49bb-b429-7e62-b1cb-aad7760a25a4" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvNordicOdinMember_019d49bb-b429-7d55-b3b6-c6fa7d0bfb4a" xlink:href="panl-20260331.xsd#panl_MvNordicOdinMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvNordicOdinMember_019d49bb-b429-7d55-b3b6-c6fa7d0bfb4a" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvNordicBulkOasisMember_019d49bb-b429-7d34-9fad-6da5273fad9d" xlink:href="panl-20260331.xsd#panl_MvNordicBulkOasisMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvNordicBulkOasisMember_019d49bb-b429-7d34-9fad-6da5273fad9d" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_NordicNuluujaakMember_019d49bb-b429-7ac0-abba-80ddc4d9c532" xlink:href="panl-20260331.xsd#panl_NordicNuluujaakMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_NordicNuluujaakMember_019d49bb-b429-7ac0-abba-80ddc4d9c532" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_NordicQinnguaMember_019d49bb-b429-77a9-b532-24456267156b" xlink:href="panl-20260331.xsd#panl_NordicQinnguaMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_NordicQinnguaMember_019d49bb-b429-77a9-b532-24456267156b" xlink:type="arc" order="7"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_NordicSikuMember_019d49bb-b429-7463-9a5c-1d637982cdcc" xlink:href="panl-20260331.xsd#panl_NordicSikuMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_NordicSikuMember_019d49bb-b429-7463-9a5c-1d637982cdcc" xlink:type="arc" order="8"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_NordicSanngijqqMember_019d49bb-b429-7f80-92a7-fa9622342e19" xlink:href="panl-20260331.xsd#panl_NordicSanngijqqMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_NordicSanngijqqMember_019d49bb-b429-7f80-92a7-fa9622342e19" xlink:type="arc" order="9"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvBulkEnduranceMember_019d49bb-b429-73ea-859e-28cbf87bb3f8" xlink:href="panl-20260331.xsd#panl_MvBulkEnduranceMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvBulkEnduranceMember_019d49bb-b429-73ea-859e-28cbf87bb3f8" xlink:type="arc" order="10"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvBULKCOURADEOUSMember_019d49bb-b429-786b-b0a7-736518632d27" xlink:href="panl-20260331.xsd#panl_MvBULKCOURADEOUSMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvBULKCOURADEOUSMember_019d49bb-b429-786b-b0a7-736518632d27" xlink:type="arc" order="11"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvBULKConcordMember_019d49bb-b429-7a36-ac9b-2ce0ffaf5802" xlink:href="panl-20260331.xsd#panl_MvBULKConcordMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvBULKConcordMember_019d49bb-b429-7a36-ac9b-2ce0ffaf5802" xlink:type="arc" order="12"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkNordicEnduranceLoanAgreementMember_019d49bb-b429-7c09-beb5-28f95d115a27" xlink:href="panl-20260331.xsd#panl_BulkNordicEnduranceLoanAgreementMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_BulkNordicEnduranceLoanAgreementMember_019d49bb-b429-7c09-beb5-28f95d115a27" xlink:type="arc" order="13"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvBulkPrideMember_019d49bb-b429-742f-b2f6-24e4ecbd27c6" xlink:href="panl-20260331.xsd#panl_MvBulkPrideMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvBulkPrideMember_019d49bb-b429-742f-b2f6-24e4ecbd27c6" xlink:type="arc" order="14"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BULKSpiritMember_019d49bb-b429-7177-9357-c35aef6070d8" xlink:href="panl-20260331.xsd#panl_BULKSpiritMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_BULKSpiritMember_019d49bb-b429-7177-9357-c35aef6070d8" xlink:type="arc" order="15"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvBULKSACHUESTMember_019d49bb-b429-7992-b9f6-321aa7f7fc83" xlink:href="panl-20260331.xsd#panl_MvBULKSACHUESTMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvBULKSACHUESTMember_019d49bb-b429-7992-b9f6-321aa7f7fc83" xlink:type="arc" order="16"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvBULKIndependenceMember_019d49bb-b429-7e2a-ab25-01caedd34050" xlink:href="panl-20260331.xsd#panl_MvBULKIndependenceMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvBULKIndependenceMember_019d49bb-b429-7e2a-ab25-01caedd34050" xlink:type="arc" order="17"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkFriendshipMember_019d49bb-b429-7479-83df-8315e89fc85f" xlink:href="panl-20260331.xsd#panl_BulkFriendshipMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_BulkFriendshipMember_019d49bb-b429-7479-83df-8315e89fc85f" xlink:type="arc" order="18"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkValorMember_019d49bb-b429-7832-a35b-f9b440accad3" xlink:href="panl-20260331.xsd#panl_BulkValorMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_BulkValorMember_019d49bb-b429-7832-a35b-f9b440accad3" xlink:type="arc" order="19"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvBULKPROMISEMember_019d49bb-b429-762f-ba96-44ed83dba235" xlink:href="panl-20260331.xsd#panl_MvBULKPROMISEMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvBULKPROMISEMember_019d49bb-b429-762f-ba96-44ed83dba235" xlink:type="arc" order="20"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvBulkPODSMember_019d49bb-b429-707c-bfb2-b61721257441" xlink:href="panl-20260331.xsd#panl_MvBulkPODSMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvBulkPODSMember_019d49bb-b429-707c-bfb2-b61721257441" xlink:type="arc" order="21"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvBulkDestinyMember_019d49bb-b429-72fe-8e65-0953029ba850" xlink:href="panl-20260331.xsd#panl_MvBulkDestinyMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvBulkDestinyMember_019d49bb-b429-72fe-8e65-0953029ba850" xlink:type="arc" order="22"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvBulkPrudenceMember_019d49bb-b429-7ecf-83ca-3a97cae05bca" xlink:href="panl-20260331.xsd#panl_MvBulkPrudenceMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvBulkPrudenceMember_019d49bb-b429-7ecf-83ca-3a97cae05bca" xlink:type="arc" order="23"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvBULKPATIENCEMember_019d49bb-b429-7cce-a868-3cb2d13d9913" xlink:href="panl-20260331.xsd#panl_MvBULKPATIENCEMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvBULKPATIENCEMember_019d49bb-b429-7cce-a868-3cb2d13d9913" xlink:type="arc" order="24"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvBULKBRENTONMember_019d49bb-b429-7ccd-92b9-1a0f6ad3af02" xlink:href="panl-20260331.xsd#panl_MvBULKBRENTONMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvBULKBRENTONMember_019d49bb-b429-7ccd-92b9-1a0f6ad3af02" xlink:type="arc" order="25"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_StrategicResolveMember_019d49bb-b429-77b7-b65f-f1eefcb7244d" xlink:href="panl-20260331.xsd#panl_StrategicResolveMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_StrategicResolveMember_019d49bb-b429-77b7-b65f-f1eefcb7244d" xlink:type="arc" order="26"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_StrategicExplorerMember_019d49bb-b429-7eef-a109-a651753dc71f" xlink:href="panl-20260331.xsd#panl_StrategicExplorerMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_StrategicExplorerMember_019d49bb-b429-7eef-a109-a651753dc71f" xlink:type="arc" order="27"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_StrategicEntityMember_019d49bb-b429-7b80-8aa5-eeb39023e6e1" xlink:href="panl-20260331.xsd#panl_StrategicEntityMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_StrategicEntityMember_019d49bb-b429-7b80-8aa5-eeb39023e6e1" xlink:type="arc" order="28"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_StrategicSynergyMember_019d49bb-b429-70e5-8c4a-76241635b78b" xlink:href="panl-20260331.xsd#panl_StrategicSynergyMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_StrategicSynergyMember_019d49bb-b429-70e5-8c4a-76241635b78b" xlink:type="arc" order="29"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_StrategicAllianceMember_019d49bb-b429-7d81-97b5-5cbddea1d303" xlink:href="panl-20260331.xsd#panl_StrategicAllianceMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_StrategicAllianceMember_019d49bb-b429-7d81-97b5-5cbddea1d303" xlink:type="arc" order="30"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_StrategicUnityMember_019d49bb-b429-765f-8df9-47ff23eff886" xlink:href="panl-20260331.xsd#panl_StrategicUnityMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_StrategicUnityMember_019d49bb-b429-765f-8df9-47ff23eff886" xlink:type="arc" order="31"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_StrategicHarmonyMember_019d49bb-b429-74af-8d48-c636061efd5f" xlink:href="panl-20260331.xsd#panl_StrategicHarmonyMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_StrategicHarmonyMember_019d49bb-b429-74af-8d48-c636061efd5f" xlink:type="arc" order="32"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_StrategicEquityMember_019d49bb-b429-7f81-8f24-7baf8afd3404" xlink:href="panl-20260331.xsd#panl_StrategicEquityMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_StrategicEquityMember_019d49bb-b429-7f81-8f24-7baf8afd3404" xlink:type="arc" order="33"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_StrategicVentureMember_019d49bb-b429-7c20-848e-734a7a7fcee5" xlink:href="panl-20260331.xsd#panl_StrategicVentureMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_StrategicVentureMember_019d49bb-b429-7c20-848e-734a7a7fcee5" xlink:type="arc" order="34"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_StrategicSavannahMember_019d49bb-b429-7526-bb88-512b21bfec88" xlink:href="panl-20260331.xsd#panl_StrategicSavannahMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_StrategicSavannahMember_019d49bb-b429-7526-bb88-512b21bfec88" xlink:type="arc" order="35"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_StrategicSpiritMember_019d49bb-b429-7189-afe5-af2102cca0a3" xlink:href="panl-20260331.xsd#panl_StrategicSpiritMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_StrategicSpiritMember_019d49bb-b429-7189-afe5-af2102cca0a3" xlink:type="arc" order="36"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_StrategicVisionMember_019d49bb-b429-7cce-b90d-753137eaa25d" xlink:href="panl-20260331.xsd#panl_StrategicVisionMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_StrategicVisionMember_019d49bb-b429-7cce-b90d-753137eaa25d" xlink:type="arc" order="37"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_StrategicTenacityMember_019d49bb-b429-7a38-940b-0077f4db07e8" xlink:href="panl-20260331.xsd#panl_StrategicTenacityMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_StrategicTenacityMember_019d49bb-b429-7a38-940b-0077f4db07e8" xlink:type="arc" order="38"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_StrategicEndeavorMember_019d49bb-b429-797d-902e-32992a8fee19" xlink:href="panl-20260331.xsd#panl_StrategicEndeavorMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_StrategicEndeavorMember_019d49bb-b429-797d-902e-32992a8fee19" xlink:type="arc" order="39"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MissNoraGPearlMember_019d49bb-b429-7c17-b45b-75e0727db2c2" xlink:href="panl-20260331.xsd#panl_MissNoraGPearlMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MissNoraGPearlMember_019d49bb-b429-7c17-b45b-75e0727db2c2" xlink:type="arc" order="40"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_OtherFixedAssetsMember_019d49bb-b429-7ab4-988c-19bd3cdb7409" xlink:href="panl-20260331.xsd#panl_OtherFixedAssetsMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_OtherFixedAssetsMember_019d49bb-b429-7ab4-988c-19bd3cdb7409" xlink:type="arc" order="41"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_StrategicFortitudeMember_019d49bb-b429-7924-8b52-33c5c0968b84" xlink:href="panl-20260331.xsd#panl_StrategicFortitudeMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_StrategicFortitudeMember_019d49bb-b429-7924-8b52-33c5c0968b84" xlink:type="arc" order="42"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_FixedAssetsExcludingOtherMember_019d49bb-b429-7f7c-93f5-f41ce5f39aad" xlink:href="panl-20260331.xsd#panl_FixedAssetsExcludingOtherMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_FixedAssetsExcludingOtherMember_019d49bb-b429-7f7c-93f5-f41ce5f39aad" xlink:type="arc" order="43"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MvBulkXaymacaMember_019e083d-9a63-726f-86a3-cf1655049903" xlink:href="panl-20260331.xsd#panl_MvBulkXaymacaMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_019d49bb-b429-7e79-971f-2f7fbc720ce2" xlink:to="loc_panl_MvBulkXaymacaMember_019e083d-9a63-726f-86a3-cf1655049903" xlink:type="arc" order="44"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-7aa6-a1f6-560e0add0f35" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_019d49bb-b429-7fd2-894e-6fdadceddfa8" xlink:to="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-7aa6-a1f6-560e0add0f35" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7aa6-a1f6-560e0add0f35_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_EquityMethodInvesteeNameDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-7aa6-a1f6-560e0add0f35" xlink:to="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7aa6-a1f6-560e0add0f35_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7fa3-b957-65d739e1fb02" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_EquityMethodInvesteeNameDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-7aa6-a1f6-560e0add0f35" xlink:to="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7fa3-b957-65d739e1fb02" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_OwnerOfDeckBargeMember_019d49bb-b429-7c67-b941-fd6015b48ab0" xlink:href="panl-20260331.xsd#panl_OwnerOfDeckBargeMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7fa3-b957-65d739e1fb02" xlink:to="loc_panl_OwnerOfDeckBargeMember_019d49bb-b429-7c67-b941-fd6015b48ab0" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_NordicBulkVenturesHoldingCompanyLtd.Member_019d49bb-b429-747e-9cce-6f5b65f142c3" xlink:href="panl-20260331.xsd#panl_NordicBulkVenturesHoldingCompanyLtd.Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7fa3-b957-65d739e1fb02" xlink:to="loc_panl_NordicBulkVenturesHoldingCompanyLtd.Member_019d49bb-b429-747e-9cce-6f5b65f142c3" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LegalEntityAxis_019d49bb-b429-7418-9f81-16dcbe2c1706" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_LegalEntityAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_019d49bb-b429-7fd2-894e-6fdadceddfa8" xlink:to="loc_dei_LegalEntityAxis_019d49bb-b429-7418-9f81-16dcbe2c1706" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityDomain_019d49bb-b429-7418-9f81-16dcbe2c1706_default" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_dei_LegalEntityAxis_019d49bb-b429-7418-9f81-16dcbe2c1706" xlink:to="loc_dei_EntityDomain_019d49bb-b429-7418-9f81-16dcbe2c1706_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityDomain_019d49bb-b429-77aa-aaa2-1021865fcfae" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_dei_LegalEntityAxis_019d49bb-b429-7418-9f81-16dcbe2c1706" xlink:to="loc_dei_EntityDomain_019d49bb-b429-77aa-aaa2-1021865fcfae" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_NordicBulkVenturesHoldingCompanyLtd.Member_019d49bb-b429-7518-a196-9377f532830f" xlink:href="panl-20260331.xsd#panl_NordicBulkVenturesHoldingCompanyLtd.Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityDomain_019d49bb-b429-77aa-aaa2-1021865fcfae" xlink:to="loc_panl_NordicBulkVenturesHoldingCompanyLtd.Member_019d49bb-b429-7518-a196-9377f532830f" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_VesselsAndVesselImprovementsPropertyPlantAndEquipementGross_019d49bb-b429-7d1e-8d08-35dd24212d5c" xlink:href="panl-20260331.xsd#panl_VesselsAndVesselImprovementsPropertyPlantAndEquipementGross"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-7aae-b92f-430e0252d1a1" xlink:to="loc_panl_VesselsAndVesselImprovementsPropertyPlantAndEquipementGross_019d49bb-b429-7d1e-8d08-35dd24212d5c" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_019d49bb-b429-7ff2-aa5f-98269a67b785" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentNet"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-7aae-b92f-430e0252d1a1" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentNet_019d49bb-b429-7ff2-aa5f-98269a67b785" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseRightOfUseAsset_019d49bb-b429-7962-bb7f-2b5742144c25" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinanceLeaseRightOfUseAsset"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-7aae-b92f-430e0252d1a1" xlink:to="loc_us-gaap_FinanceLeaseRightOfUseAsset_019d49bb-b429-7962-bb7f-2b5742144c25" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_019d49bb-b429-72c3-8e72-05b287fdbb31" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-7aae-b92f-430e0252d1a1" xlink:to="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_019d49bb-b429-72c3-8e72-05b287fdbb31" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleOfProductiveAssets_019e083c-c013-7beb-8732-7611fb779547" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromSaleOfProductiveAssets"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-7aae-b92f-430e0252d1a1" xlink:to="loc_us-gaap_ProceedsFromSaleOfProductiveAssets_019e083c-c013-7beb-8732-7611fb779547" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainLossOnSaleOfPropertyPlantEquipment_019e083f-45b2-7e8d-9d01-6d26d6981e23" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GainLossOnSaleOfPropertyPlantEquipment"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_019d49bb-b429-7aae-b92f-430e0252d1a1" xlink:to="loc_us-gaap_GainLossOnSaleOfPropertyPlantEquipment_019e083f-45b2-7e8d-9d01-6d26d6981e23" xlink:type="arc" order="5"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/DebtScheduleofDebtDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#DebtScheduleofDebtDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/DebtScheduleofDebtDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7c00-946a-a3219494131a" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-72d3-9aa9-db0573378a99" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7c00-946a-a3219494131a" xlink:to="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-72d3-9aa9-db0573378a99" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentAxis_019d49bb-b429-7356-bc44-cd69810b95d0" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-72d3-9aa9-db0573378a99" xlink:to="loc_us-gaap_DebtInstrumentAxis_019d49bb-b429-7356-bc44-cd69810b95d0" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-7356-bc44-cd69810b95d0_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentNameDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_DebtInstrumentAxis_019d49bb-b429-7356-bc44-cd69810b95d0" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-7356-bc44-cd69810b95d0_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-76e4-864a-d404d9f43c7d" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentNameDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_DebtInstrumentAxis_019d49bb-b429-7356-bc44-cd69810b95d0" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-76e4-864a-d404d9f43c7d" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkNordicOasisLtd.LoanAgreementMember_019d49bb-b429-7441-adfc-00679706dcb5" xlink:href="panl-20260331.xsd#panl_BulkNordicOasisLtd.LoanAgreementMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-76e4-864a-d404d9f43c7d" xlink:to="loc_panl_BulkNordicOasisLtd.LoanAgreementMember_019d49bb-b429-7441-adfc-00679706dcb5" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkEnduranceLoanAgreementMember_019d49bb-b429-7aa7-88fd-7eb878f4bbe6" xlink:href="panl-20260331.xsd#panl_BulkEnduranceLoanAgreementMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-76e4-864a-d404d9f43c7d" xlink:to="loc_panl_BulkEnduranceLoanAgreementMember_019d49bb-b429-7aa7-88fd-7eb878f4bbe6" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkValorCorpLoanAgreementMember_019d49bb-b429-7120-9cd0-0842c6f29ecc" xlink:href="panl-20260331.xsd#panl_BulkValorCorpLoanAgreementMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-76e4-864a-d404d9f43c7d" xlink:to="loc_panl_BulkValorCorpLoanAgreementMember_019d49bb-b429-7120-9cd0-0842c6f29ecc" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkPromiseCorpLoanMember_019d49bb-b429-7db3-aa0b-5576baedef4d" xlink:href="panl-20260331.xsd#panl_BulkPromiseCorpLoanMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-76e4-864a-d404d9f43c7d" xlink:to="loc_panl_BulkPromiseCorpLoanMember_019d49bb-b429-7db3-aa0b-5576baedef4d" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkSachuestLoanAndSecurityAgreementMember_019d49bb-b429-7ac5-9c5f-28e5170e9bf2" xlink:href="panl-20260331.xsd#panl_BulkSachuestLoanAndSecurityAgreementMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-76e4-864a-d404d9f43c7d" xlink:to="loc_panl_BulkSachuestLoanAndSecurityAgreementMember_019d49bb-b429-7ac5-9c5f-28e5170e9bf2" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_LongWharfConstructionToTermDebtMember_019d49bb-b429-782b-af5c-f53ce9baffc3" xlink:href="panl-20260331.xsd#panl_LongWharfConstructionToTermDebtMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-76e4-864a-d404d9f43c7d" xlink:to="loc_panl_LongWharfConstructionToTermDebtMember_019d49bb-b429-782b-af5c-f53ce9baffc3" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeAxis_019d49bb-b429-7dfd-839b-99e07a1946e4" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-72d3-9aa9-db0573378a99" xlink:to="loc_us-gaap_LongtermDebtTypeAxis_019d49bb-b429-7dfd-839b-99e07a1946e4" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_019d49bb-b429-7dfd-839b-99e07a1946e4_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_019d49bb-b429-7dfd-839b-99e07a1946e4" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_019d49bb-b429-7dfd-839b-99e07a1946e4_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_019d49bb-b429-7a6a-bc63-76d8fe9789b4" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_019d49bb-b429-7dfd-839b-99e07a1946e4" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_019d49bb-b429-7a6a-bc63-76d8fe9789b4" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuredDebtMember_019d49bb-b429-7975-9a57-4d1a67f46ebf" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SecuredDebtMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_019d49bb-b429-7a6a-bc63-76d8fe9789b4" xlink:to="loc_us-gaap_SecuredDebtMember_019d49bb-b429-7975-9a57-4d1a67f46ebf" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-7413-8a1e-ec54069223de" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-72d3-9aa9-db0573378a99" xlink:to="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-7413-8a1e-ec54069223de" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7413-8a1e-ec54069223de_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_EquityMethodInvesteeNameDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-7413-8a1e-ec54069223de" xlink:to="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-7413-8a1e-ec54069223de_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-719f-9856-8d1b19093ab9" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_EquityMethodInvesteeNameDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019d49bb-b429-7413-8a1e-ec54069223de" xlink:to="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-719f-9856-8d1b19093ab9" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_NordicBulkVenturesHoldingCompanyLtd.Member_019d49bb-b429-7d6d-9f98-eb54cbd6a662" xlink:href="panl-20260331.xsd#panl_NordicBulkVenturesHoldingCompanyLtd.Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_019d49bb-b429-719f-9856-8d1b19093ab9" xlink:to="loc_panl_NordicBulkVenturesHoldingCompanyLtd.Member_019d49bb-b429-7d6d-9f98-eb54cbd6a662" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OwnershipAxis_019d49bb-b429-72e8-8741-a8be8f4fa648" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OwnershipAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-72d3-9aa9-db0573378a99" xlink:to="loc_srt_OwnershipAxis_019d49bb-b429-72e8-8741-a8be8f4fa648" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OwnershipDomain_019d49bb-b429-72e8-8741-a8be8f4fa648_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OwnershipDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_OwnershipAxis_019d49bb-b429-72e8-8741-a8be8f4fa648" xlink:to="loc_srt_OwnershipDomain_019d49bb-b429-72e8-8741-a8be8f4fa648_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OwnershipDomain_019d49bb-b429-7c0b-b85a-1e47abc89974" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OwnershipDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_OwnershipAxis_019d49bb-b429-72e8-8741-a8be8f4fa648" xlink:to="loc_srt_OwnershipDomain_019d49bb-b429-7c0b-b85a-1e47abc89974" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_STShippingandTransportLtd.STSTMember_019d49bb-b429-7ecd-99c7-fe9d7e669d37" xlink:href="panl-20260331.xsd#panl_STShippingandTransportLtd.STSTMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_OwnershipDomain_019d49bb-b429-7c0b-b85a-1e47abc89974" xlink:to="loc_panl_STShippingandTransportLtd.STSTMember_019d49bb-b429-7ecd-99c7-fe9d7e669d37" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount_019d49bb-b429-705a-8f6d-7524c13c4b90" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentCarryingAmount"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7c00-946a-a3219494131a" xlink:to="loc_us-gaap_DebtInstrumentCarryingAmount_019d49bb-b429-705a-8f6d-7524c13c4b90" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnamortizedDebtIssuanceExpense_019d49bb-b429-70f3-8a5a-05c547729fd4" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UnamortizedDebtIssuanceExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7c00-946a-a3219494131a" xlink:to="loc_us-gaap_UnamortizedDebtIssuanceExpense_019d49bb-b429-70f3-8a5a-05c547729fd4" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebt_019d49bb-b429-7f49-bdbb-2f55c48b9c10" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebt"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7c00-946a-a3219494131a" xlink:to="loc_us-gaap_LongTermDebt_019d49bb-b429-7f49-bdbb-2f55c48b9c10" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtCurrent_019d49bb-b429-7398-a7b3-cf4d6662e646" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtCurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7c00-946a-a3219494131a" xlink:to="loc_us-gaap_LongTermDebtCurrent_019d49bb-b429-7398-a7b3-cf4d6662e646" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtNoncurrent_019d49bb-b429-7dae-aae7-34dba8210705" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtNoncurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7c00-946a-a3219494131a" xlink:to="loc_us-gaap_LongTermDebtNoncurrent_019d49bb-b429-7dae-aae7-34dba8210705" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_019d49bb-b429-7fc5-8dd9-63f793d421b6" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7c00-946a-a3219494131a" xlink:to="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_019d49bb-b429-7fc5-8dd9-63f793d421b6" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount_019d49bb-b429-7a59-9567-407222f07509" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentFaceAmount"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7c00-946a-a3219494131a" xlink:to="loc_us-gaap_DebtInstrumentFaceAmount_019d49bb-b429-7a59-9567-407222f07509" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_019d49bb-b429-7c07-82c8-cb4085a00066" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7c00-946a-a3219494131a" xlink:to="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_019d49bb-b429-7c07-82c8-cb4085a00066" xlink:type="arc" order="7"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_019d49bb-b429-7b65-860e-f3c01d86d57c" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7c00-946a-a3219494131a" xlink:to="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_019d49bb-b429-7b65-860e-f3c01d86d57c" xlink:type="arc" order="8"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/DebtNarrativeDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#DebtNarrativeDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/DebtNarrativeDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentLineItems_019e0844-dbbb-7205-bf81-c6b34631152b" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentTable_019e0844-dbbb-7904-9b36-f46cb873dde8" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019e0844-dbbb-7205-bf81-c6b34631152b" xlink:to="loc_us-gaap_DebtInstrumentTable_019e0844-dbbb-7904-9b36-f46cb873dde8" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_CounterpartyNameAxis_019e0844-dbbb-7af7-bfbd-5e6c1c494959" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_CounterpartyNameAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_019e0844-dbbb-7904-9b36-f46cb873dde8" xlink:to="loc_srt_CounterpartyNameAxis_019e0844-dbbb-7af7-bfbd-5e6c1c494959" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RepurchaseAgreementCounterpartyNameDomain_019e0844-dbbb-7af7-bfbd-5e6c1c494959_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RepurchaseAgreementCounterpartyNameDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_CounterpartyNameAxis_019e0844-dbbb-7af7-bfbd-5e6c1c494959" xlink:to="loc_srt_RepurchaseAgreementCounterpartyNameDomain_019e0844-dbbb-7af7-bfbd-5e6c1c494959_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RepurchaseAgreementCounterpartyNameDomain_019e0844-dbbb-71a2-b65d-ca097feba707" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RepurchaseAgreementCounterpartyNameDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_CounterpartyNameAxis_019e0844-dbbb-7af7-bfbd-5e6c1c494959" xlink:to="loc_srt_RepurchaseAgreementCounterpartyNameDomain_019e0844-dbbb-71a2-b65d-ca097feba707" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_PangeaBaltimoreLLCMember_019e0845-2d65-70e0-acf1-52ad43478897" xlink:href="panl-20260331.xsd#panl_PangeaBaltimoreLLCMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RepurchaseAgreementCounterpartyNameDomain_019e0844-dbbb-71a2-b65d-ca097feba707" xlink:to="loc_panl_PangeaBaltimoreLLCMember_019e0845-2d65-70e0-acf1-52ad43478897" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_InstallmentSalesContract_019e0843-09f2-751c-8968-05a35942170a" xlink:href="panl-20260331.xsd#panl_InstallmentSalesContract"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019e0844-dbbb-7205-bf81-c6b34631152b" xlink:to="loc_panl_InstallmentSalesContract_019e0843-09f2-751c-8968-05a35942170a" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NotesPayable_019e0844-82aa-78ac-87aa-655b0a187095" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NotesPayable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019e0844-dbbb-7205-bf81-c6b34631152b" xlink:to="loc_us-gaap_NotesPayable_019e0844-82aa-78ac-87aa-655b0a187095" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_019e0845-be19-7f3e-b201-418108372aa9" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019e0844-dbbb-7205-bf81-c6b34631152b" xlink:to="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_019e0845-be19-7f3e-b201-418108372aa9" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_DebtInstrumentNumberOfMonthlyInstallments_019e0846-8c53-78f0-8f45-463386cfbc7c" xlink:href="panl-20260331.xsd#panl_DebtInstrumentNumberOfMonthlyInstallments"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019e0844-dbbb-7205-bf81-c6b34631152b" xlink:to="loc_panl_DebtInstrumentNumberOfMonthlyInstallments_019e0846-8c53-78f0-8f45-463386cfbc7c" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestPayableCurrentAndNoncurrent_019e0847-dc8c-77d0-9851-140232ccb1c5" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestPayableCurrentAndNoncurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019e0844-dbbb-7205-bf81-c6b34631152b" xlink:to="loc_us-gaap_InterestPayableCurrentAndNoncurrent_019e0847-dc8c-77d0-9851-140232ccb1c5" xlink:type="arc" order="4"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/DebtFutureMinimumAnnualPaymentsDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#DebtFutureMinimumAnnualPaymentsDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/DebtFutureMinimumAnnualPaymentsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-71e2-94ce-7a50c2591f90" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-7474-a463-7778d1ac14df" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-71e2-94ce-7a50c2591f90" xlink:to="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-7474-a463-7778d1ac14df" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeAxis_019d49bb-b429-706d-b493-93f1ba23d5f7" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-7474-a463-7778d1ac14df" xlink:to="loc_us-gaap_LongtermDebtTypeAxis_019d49bb-b429-706d-b493-93f1ba23d5f7" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_019d49bb-b429-706d-b493-93f1ba23d5f7_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_019d49bb-b429-706d-b493-93f1ba23d5f7" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_019d49bb-b429-706d-b493-93f1ba23d5f7_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_019d49bb-b429-741d-939a-d073de84ee1e" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_019d49bb-b429-706d-b493-93f1ba23d5f7" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_019d49bb-b429-741d-939a-d073de84ee1e" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuredDebtMember_019d49bb-b429-7148-a5e9-d77ed642a0f7" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SecuredDebtMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_019d49bb-b429-741d-939a-d073de84ee1e" xlink:to="loc_us-gaap_SecuredDebtMember_019d49bb-b429-7148-a5e9-d77ed642a0f7" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtByMaturityAbstract_019d49bb-b429-7162-b58b-9e99087c0ec2" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtByMaturityAbstract"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-71e2-94ce-7a50c2591f90" xlink:to="loc_us-gaap_LongTermDebtByMaturityAbstract_019d49bb-b429-7162-b58b-9e99087c0ec2" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_019d49bb-b429-71d1-af16-561198105820" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongTermDebtByMaturityAbstract_019d49bb-b429-7162-b58b-9e99087c0ec2" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_019d49bb-b429-71d1-af16-561198105820" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_019d49bb-b429-7b27-a882-594d4db0dbf6" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongTermDebtByMaturityAbstract_019d49bb-b429-7162-b58b-9e99087c0ec2" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_019d49bb-b429-7b27-a882-594d4db0dbf6" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_019d49bb-b429-7acf-b823-276696f78307" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongTermDebtByMaturityAbstract_019d49bb-b429-7162-b58b-9e99087c0ec2" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_019d49bb-b429-7acf-b823-276696f78307" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_019d49bb-b429-7d25-b37f-f60ce3466b92" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongTermDebtByMaturityAbstract_019d49bb-b429-7162-b58b-9e99087c0ec2" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_019d49bb-b429-7d25-b37f-f60ce3466b92" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_019d49bb-b429-7931-93c6-1682568ae4c4" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongTermDebtByMaturityAbstract_019d49bb-b429-7162-b58b-9e99087c0ec2" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_019d49bb-b429-7931-93c6-1682568ae4c4" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_LongTermDebtBeforeUnamortizedDiscountPremiumGross_019d49bb-b429-7d7c-b9c6-bc5c106fd15d" xlink:href="panl-20260331.xsd#panl_LongTermDebtBeforeUnamortizedDiscountPremiumGross"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongTermDebtByMaturityAbstract_019d49bb-b429-7162-b58b-9e99087c0ec2" xlink:to="loc_panl_LongTermDebtBeforeUnamortizedDiscountPremiumGross_019d49bb-b429-7d7c-b9c6-bc5c106fd15d" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_019d49bb-b429-7d81-9c61-3bed2e664848" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongTermDebtByMaturityAbstract_019d49bb-b429-7162-b58b-9e99087c0ec2" xlink:to="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_019d49bb-b429-7d81-9c61-3bed2e664848" xlink:type="arc" order="7"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount_019d49bb-b429-7a75-bfd9-57813bd3cf24" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentCarryingAmount"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongTermDebtByMaturityAbstract_019d49bb-b429-7162-b58b-9e99087c0ec2" xlink:to="loc_us-gaap_DebtInstrumentCarryingAmount_019d49bb-b429-7a75-bfd9-57813bd3cf24" xlink:type="arc" order="8"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnamortizedDebtIssuanceExpense_019d49bb-b429-7ea0-bff1-204d73aa17ca" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UnamortizedDebtIssuanceExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongTermDebtByMaturityAbstract_019d49bb-b429-7162-b58b-9e99087c0ec2" xlink:to="loc_us-gaap_UnamortizedDebtIssuanceExpense_019d49bb-b429-7ea0-bff1-204d73aa17ca" xlink:type="arc" order="9"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebt_019d49bb-b429-78d6-aa5e-ba4d47e7f2d8" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebt"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongTermDebtByMaturityAbstract_019d49bb-b429-7162-b58b-9e99087c0ec2" xlink:to="loc_us-gaap_LongTermDebt_019d49bb-b429-78d6-aa5e-ba4d47e7f2d8" xlink:type="arc" order="10"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtCurrent_019d49bb-b429-752f-bddd-e706ed6422c9" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtCurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongTermDebtByMaturityAbstract_019d49bb-b429-7162-b58b-9e99087c0ec2" xlink:to="loc_us-gaap_LongTermDebtCurrent_019d49bb-b429-752f-bddd-e706ed6422c9" xlink:type="arc" order="11"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtNoncurrent_019d49bb-b429-77c3-88d9-33e1dc199cd1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtNoncurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongTermDebtByMaturityAbstract_019d49bb-b429-7162-b58b-9e99087c0ec2" xlink:to="loc_us-gaap_LongTermDebtNoncurrent_019d49bb-b429-77c3-88d9-33e1dc199cd1" xlink:type="arc" order="12"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/DebtScheduleofLongtermDebtDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#DebtScheduleofLongtermDebtDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/DebtScheduleofLongtermDebtDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7791-a1aa-4f7a8b3a64d2" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-7a1a-adbd-816c1d6ceef1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7791-a1aa-4f7a8b3a64d2" xlink:to="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-7a1a-adbd-816c1d6ceef1" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeaseContractualTermAxis_019d49bb-b429-775d-8712-cacd972a61f4" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LeaseContractualTermAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-7a1a-adbd-816c1d6ceef1" xlink:to="loc_us-gaap_LeaseContractualTermAxis_019d49bb-b429-775d-8712-cacd972a61f4" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-775d-8712-cacd972a61f4_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LeaseContractualTermDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_LeaseContractualTermAxis_019d49bb-b429-775d-8712-cacd972a61f4" xlink:to="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-775d-8712-cacd972a61f4_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LeaseContractualTermDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_LeaseContractualTermAxis_019d49bb-b429-775d-8712-cacd972a61f4" xlink:to="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkSpiritLtdFebruary2027Member_019d49bb-b429-7a7b-b33c-0f4f5e8edacf" xlink:href="panl-20260331.xsd#panl_BulkSpiritLtdFebruary2027Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_BulkSpiritLtdFebruary2027Member_019d49bb-b429-7a7b-b33c-0f4f5e8edacf" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkFriendshipCorp.August2029Member_019d49bb-b429-7c29-90b7-7970e02d4da7" xlink:href="panl-20260331.xsd#panl_BulkFriendshipCorp.August2029Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_BulkFriendshipCorp.August2029Member_019d49bb-b429-7c29-90b7-7970e02d4da7" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkNordicSevenLLCMay2036Member_019d49bb-b429-7271-ac29-6626c19326fd" xlink:href="panl-20260331.xsd#panl_BulkNordicSevenLLCMay2036Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_BulkNordicSevenLLCMay2036Member_019d49bb-b429-7271-ac29-6626c19326fd" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkNordicEightLLCJune2036Member_019d49bb-b429-7a3f-8998-762fa5884ff1" xlink:href="panl-20260331.xsd#panl_BulkNordicEightLLCJune2036Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_BulkNordicEightLLCJune2036Member_019d49bb-b429-7a3f-8998-762fa5884ff1" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkNordicNineLLCSeptember2036Member_019d49bb-b429-755e-a388-373abdb6ca6c" xlink:href="panl-20260331.xsd#panl_BulkNordicNineLLCSeptember2036Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_BulkNordicNineLLCSeptember2036Member_019d49bb-b429-755e-a388-373abdb6ca6c" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkNordicTenLLCNovember2036Member_019d49bb-b429-7e42-890a-35e68c38f4b9" xlink:href="panl-20260331.xsd#panl_BulkNordicTenLLCNovember2036Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_BulkNordicTenLLCNovember2036Member_019d49bb-b429-7e42-890a-35e68c38f4b9" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkCourageousCorpApril2028Member_019d49bb-b429-7bee-91f6-fed117bc702e" xlink:href="panl-20260331.xsd#panl_BulkCourageousCorpApril2028Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_BulkCourageousCorpApril2028Member_019d49bb-b429-7bee-91f6-fed117bc702e" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_PhoenixBulkFebruary2029Member_019d49bb-b429-731c-94d3-c50d04c15d24" xlink:href="panl-20260331.xsd#panl_PhoenixBulkFebruary2029Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_PhoenixBulkFebruary2029Member_019d49bb-b429-731c-94d3-c50d04c15d24" xlink:type="arc" order="7"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkIndependenceDecember2028Member_019d49bb-b429-7728-bfa0-34a7174c3d42" xlink:href="panl-20260331.xsd#panl_BulkIndependenceDecember2028Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_BulkIndependenceDecember2028Member_019d49bb-b429-7728-bfa0-34a7174c3d42" xlink:type="arc" order="8"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkPrideDecember2028Member_019d49bb-b429-7198-aff6-39a1043b5e9b" xlink:href="panl-20260331.xsd#panl_BulkPrideDecember2028Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_BulkPrideDecember2028Member_019d49bb-b429-7198-aff6-39a1043b5e9b" xlink:type="arc" order="9"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_TripartiteAgreementJune2029Member_019d49bb-b429-718e-83b4-beddc11e1774" xlink:href="panl-20260331.xsd#panl_TripartiteAgreementJune2029Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_TripartiteAgreementJune2029Member_019d49bb-b429-718e-83b4-beddc11e1774" xlink:type="arc" order="10"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_SBCEntityAugust3031Member_019d49bb-b429-709d-b847-236623d482c7" xlink:href="panl-20260331.xsd#panl_SBCEntityAugust3031Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_SBCEntityAugust3031Member_019d49bb-b429-709d-b847-236623d482c7" xlink:type="arc" order="11"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_SBCExplorerMarch2030Member_019d49bb-b429-7100-80df-0d7b6aa4bed0" xlink:href="panl-20260331.xsd#panl_SBCExplorerMarch2030Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_SBCExplorerMarch2030Member_019d49bb-b429-7100-80df-0d7b6aa4bed0" xlink:type="arc" order="12"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_RHIFortitudeJanuary2031Member_019d49bb-b429-7fe5-8885-33cdab48c0ef" xlink:href="panl-20260331.xsd#panl_RHIFortitudeJanuary2031Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_RHIFortitudeJanuary2031Member_019d49bb-b429-7fe5-8885-33cdab48c0ef" xlink:type="arc" order="13"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_SBCHarmonyAugust2031Member_019d49bb-b429-7f66-805c-03d1bea14fe4" xlink:href="panl-20260331.xsd#panl_SBCHarmonyAugust2031Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_SBCHarmonyAugust2031Member_019d49bb-b429-7f66-805c-03d1bea14fe4" xlink:type="arc" order="14"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_RHISavannahSeptember2029Member_019d49bb-b429-7113-9f67-4e65dfcce66c" xlink:href="panl-20260331.xsd#panl_RHISavannahSeptember2029Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_RHISavannahSeptember2029Member_019d49bb-b429-7113-9f67-4e65dfcce66c" xlink:type="arc" order="15"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_RHITenacityApril2027Member_019d49bb-b429-7892-af76-a1c612ee50a1" xlink:href="panl-20260331.xsd#panl_RHITenacityApril2027Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_RHITenacityApril2027Member_019d49bb-b429-7892-af76-a1c612ee50a1" xlink:type="arc" order="16"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_SBCVentureJuly2031Member_019d49bb-b429-7241-98f1-80046dde98c1" xlink:href="panl-20260331.xsd#panl_SBCVentureJuly2031Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_SBCVentureJuly2031Member_019d49bb-b429-7241-98f1-80046dde98c1" xlink:type="arc" order="17"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_SBCSpiritJuly2032Member_019d49bb-b429-7cb4-b544-d9b6718b322a" xlink:href="panl-20260331.xsd#panl_SBCSpiritJuly2032Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_SBCSpiritJuly2032Member_019d49bb-b429-7cb4-b544-d9b6718b322a" xlink:type="arc" order="18"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_SBCVisionJune2030Member_019d49bb-b429-7d8e-b0a1-28489234316e" xlink:href="panl-20260331.xsd#panl_SBCVisionJune2030Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7879-950e-951fbfcfd9dd" xlink:to="loc_panl_SBCVisionJune2030Member_019d49bb-b429-7d8e-b0a1-28489234316e" xlink:type="arc" order="19"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentAxis_019d49bb-b429-787d-89b4-f5534dc6a7ea" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-7a1a-adbd-816c1d6ceef1" xlink:to="loc_us-gaap_DebtInstrumentAxis_019d49bb-b429-787d-89b4-f5534dc6a7ea" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-787d-89b4-f5534dc6a7ea_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentNameDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_DebtInstrumentAxis_019d49bb-b429-787d-89b4-f5534dc6a7ea" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-787d-89b4-f5534dc6a7ea_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-7316-a1da-9be63853fbfe" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentNameDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_DebtInstrumentAxis_019d49bb-b429-787d-89b4-f5534dc6a7ea" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-7316-a1da-9be63853fbfe" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkNordicOasisLtd.LoanAgreementMember_019d49bb-b429-7a67-8ab4-fc53aa6e88c8" xlink:href="panl-20260331.xsd#panl_BulkNordicOasisLtd.LoanAgreementMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-7316-a1da-9be63853fbfe" xlink:to="loc_panl_BulkNordicOasisLtd.LoanAgreementMember_019d49bb-b429-7a67-8ab4-fc53aa6e88c8" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkEnduranceLoanAgreementMember_019d49bb-b429-7f6d-87de-544105bcde67" xlink:href="panl-20260331.xsd#panl_BulkEnduranceLoanAgreementMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-7316-a1da-9be63853fbfe" xlink:to="loc_panl_BulkEnduranceLoanAgreementMember_019d49bb-b429-7f6d-87de-544105bcde67" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkValorCorpLoanAgreementMember_019d49bb-b429-7056-84f8-78202d0194e1" xlink:href="panl-20260331.xsd#panl_BulkValorCorpLoanAgreementMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-7316-a1da-9be63853fbfe" xlink:to="loc_panl_BulkValorCorpLoanAgreementMember_019d49bb-b429-7056-84f8-78202d0194e1" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkPromiseCorpLoanMember_019d49bb-b429-75a8-9139-32bfd0f64216" xlink:href="panl-20260331.xsd#panl_BulkPromiseCorpLoanMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-7316-a1da-9be63853fbfe" xlink:to="loc_panl_BulkPromiseCorpLoanMember_019d49bb-b429-75a8-9139-32bfd0f64216" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkSachuestLoanAndSecurityAgreementMember_019d49bb-b429-79dc-bd2e-c88c3cad1e1c" xlink:href="panl-20260331.xsd#panl_BulkSachuestLoanAndSecurityAgreementMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-7316-a1da-9be63853fbfe" xlink:to="loc_panl_BulkSachuestLoanAndSecurityAgreementMember_019d49bb-b429-79dc-bd2e-c88c3cad1e1c" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_LongWharfConstructionToTermDebtMember_019d49bb-b429-7b03-a0c8-a6458373ee16" xlink:href="panl-20260331.xsd#panl_LongWharfConstructionToTermDebtMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-7316-a1da-9be63853fbfe" xlink:to="loc_panl_LongWharfConstructionToTermDebtMember_019d49bb-b429-7b03-a0c8-a6458373ee16" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkNordicOshimaBulkNordicOdinNordicOlympicNordicOasisMember_019d49bb-b429-7c2c-a3bd-867ffb5d2ce1" xlink:href="panl-20260331.xsd#panl_BulkNordicOshimaBulkNordicOdinNordicOlympicNordicOasisMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-7316-a1da-9be63853fbfe" xlink:to="loc_panl_BulkNordicOshimaBulkNordicOdinNordicOlympicNordicOasisMember_019d49bb-b429-7c2c-a3bd-867ffb5d2ce1" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkNordicOshimaLtdAmendedandRestatedLoanAgreementMember_019d49bb-b429-79d8-8643-626f2092e08c" xlink:href="panl-20260331.xsd#panl_BulkNordicOshimaLtdAmendedandRestatedLoanAgreementMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-7316-a1da-9be63853fbfe" xlink:to="loc_panl_BulkNordicOshimaLtdAmendedandRestatedLoanAgreementMember_019d49bb-b429-79d8-8643-626f2092e08c" xlink:type="arc" order="7"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_PangeaTexasLLCMember_019e0830-36cd-7098-aa5a-d08d79cc0b40" xlink:href="panl-20260331.xsd#panl_PangeaTexasLLCMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-7316-a1da-9be63853fbfe" xlink:to="loc_panl_PangeaTexasLLCMember_019e0830-36cd-7098-aa5a-d08d79cc0b40" xlink:type="arc" order="8"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_PangeaBaltimoreLLCMember_019e0830-82e8-779e-b31c-e63dd4c1b84e" xlink:href="panl-20260331.xsd#panl_PangeaBaltimoreLLCMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_019d49bb-b429-7316-a1da-9be63853fbfe" xlink:to="loc_panl_PangeaBaltimoreLLCMember_019e0830-82e8-779e-b31c-e63dd4c1b84e" xlink:type="arc" order="9"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeAxis_019d49bb-b429-75ea-b158-581122378eb1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-7a1a-adbd-816c1d6ceef1" xlink:to="loc_us-gaap_LongtermDebtTypeAxis_019d49bb-b429-75ea-b158-581122378eb1" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_019d49bb-b429-75ea-b158-581122378eb1_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_019d49bb-b429-75ea-b158-581122378eb1" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_019d49bb-b429-75ea-b158-581122378eb1_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_019d49bb-b429-7dbd-85a5-b9cf6c35339a" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_019d49bb-b429-75ea-b158-581122378eb1" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_019d49bb-b429-7dbd-85a5-b9cf6c35339a" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuredDebtMember_019d49bb-b429-727e-baa8-76e7baa6e23a" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SecuredDebtMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_019d49bb-b429-7dbd-85a5-b9cf6c35339a" xlink:to="loc_us-gaap_SecuredDebtMember_019d49bb-b429-727e-baa8-76e7baa6e23a" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiability_019d49bb-b429-7d54-9e4d-a2564b8262ac" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinanceLeaseLiability"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7791-a1aa-4f7a8b3a64d2" xlink:to="loc_us-gaap_FinanceLeaseLiability_019d49bb-b429-7d54-9e4d-a2564b8262ac" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeFinanceLeaseDiscountRate_019d49bb-b429-7088-a378-a678a9a15161" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeFinanceLeaseDiscountRate"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7791-a1aa-4f7a8b3a64d2" xlink:to="loc_us-gaap_LesseeFinanceLeaseDiscountRate_019d49bb-b429-7088-a378-a678a9a15161" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiability_019e0831-af1c-7367-a2d6-4c83604cc60a" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingLeaseLiability"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7791-a1aa-4f7a8b3a64d2" xlink:to="loc_us-gaap_OperatingLeaseLiability_019e0831-af1c-7367-a2d6-4c83604cc60a" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtAndCapitalLeaseObligations_019d49bb-b429-72e5-baea-6bcf3f85bc80" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtAndCapitalLeaseObligations"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7791-a1aa-4f7a8b3a64d2" xlink:to="loc_us-gaap_LongTermDebtAndCapitalLeaseObligations_019d49bb-b429-72e5-baea-6bcf3f85bc80" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnamortizedDebtIssuanceExpense_019d49bb-b429-7c26-8258-9587c193b347" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UnamortizedDebtIssuanceExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7791-a1aa-4f7a8b3a64d2" xlink:to="loc_us-gaap_UnamortizedDebtIssuanceExpense_019d49bb-b429-7c26-8258-9587c193b347" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_LongTermDebtAndLeaseObligationNetOfUnamortizedIssuanceExpense_019d49bb-b429-7a38-bc68-45d92c4683bc" xlink:href="panl-20260331.xsd#panl_LongTermDebtAndLeaseObligationNetOfUnamortizedIssuanceExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7791-a1aa-4f7a8b3a64d2" xlink:to="loc_panl_LongTermDebtAndLeaseObligationNetOfUnamortizedIssuanceExpense_019d49bb-b429-7a38-bc68-45d92c4683bc" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities_019d49bb-b429-7b11-96bc-ff6738fe9b4c" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7791-a1aa-4f7a8b3a64d2" xlink:to="loc_us-gaap_LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities_019d49bb-b429-7b11-96bc-ff6738fe9b4c" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractualObligation_019d49bb-b429-731f-a750-5a69e5fea24b" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ContractualObligation"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7791-a1aa-4f7a8b3a64d2" xlink:to="loc_us-gaap_ContractualObligation_019d49bb-b429-731f-a750-5a69e5fea24b" xlink:type="arc" order="7"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount_019d49bb-b429-758a-a9f2-5f477eb6718a" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentCarryingAmount"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7791-a1aa-4f7a8b3a64d2" xlink:to="loc_us-gaap_DebtInstrumentCarryingAmount_019d49bb-b429-758a-a9f2-5f477eb6718a" xlink:type="arc" order="8"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_019d49bb-b429-7ea7-aeb8-368741ecee0b" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-7791-a1aa-4f7a8b3a64d2" xlink:to="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_019d49bb-b429-7ea7-aeb8-368741ecee0b" xlink:type="arc" order="9"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/DebtScheduleofFutureMinimumLeasePaymentsDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#DebtScheduleofFutureMinimumLeasePaymentsDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/DebtScheduleofFutureMinimumLeasePaymentsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-73ac-87df-ec2b13584261" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-7334-9bbe-0830210d7cb9" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-73ac-87df-ec2b13584261" xlink:to="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-7334-9bbe-0830210d7cb9" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_FinancingObligationAxis_019d49bb-b429-7666-940e-f66c8479be4b" xlink:href="panl-20260331.xsd#panl_FinancingObligationAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_019d49bb-b429-7334-9bbe-0830210d7cb9" xlink:to="loc_panl_FinancingObligationAxis_019d49bb-b429-7666-940e-f66c8479be4b" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_FinancingObligationDomain_019d49bb-b429-7666-940e-f66c8479be4b_default" xlink:href="panl-20260331.xsd#panl_FinancingObligationDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_panl_FinancingObligationAxis_019d49bb-b429-7666-940e-f66c8479be4b" xlink:to="loc_panl_FinancingObligationDomain_019d49bb-b429-7666-940e-f66c8479be4b_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_FinancingObligationDomain_019d49bb-b429-7575-a1fc-4b14df241189" xlink:href="panl-20260331.xsd#panl_FinancingObligationDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_panl_FinancingObligationAxis_019d49bb-b429-7666-940e-f66c8479be4b" xlink:to="loc_panl_FinancingObligationDomain_019d49bb-b429-7575-a1fc-4b14df241189" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_FinancingObligationUnderASC842RemainderOfFiscalYearMember_019d49bb-b429-7748-ae35-1b88adde15bf" xlink:href="panl-20260331.xsd#panl_FinancingObligationUnderASC842RemainderOfFiscalYearMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_panl_FinancingObligationDomain_019d49bb-b429-7575-a1fc-4b14df241189" xlink:to="loc_panl_FinancingObligationUnderASC842RemainderOfFiscalYearMember_019d49bb-b429-7748-ae35-1b88adde15bf" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_FinancingObligationUnderASC842YearOneMember_019d49bb-b429-7d23-93eb-8eef2ec00a48" xlink:href="panl-20260331.xsd#panl_FinancingObligationUnderASC842YearOneMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_panl_FinancingObligationDomain_019d49bb-b429-7575-a1fc-4b14df241189" xlink:to="loc_panl_FinancingObligationUnderASC842YearOneMember_019d49bb-b429-7d23-93eb-8eef2ec00a48" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_FinancingObligationUnderASC842YearTwoMember_019d49bb-b429-7591-a70f-aa12f48b15f9" xlink:href="panl-20260331.xsd#panl_FinancingObligationUnderASC842YearTwoMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_panl_FinancingObligationDomain_019d49bb-b429-7575-a1fc-4b14df241189" xlink:to="loc_panl_FinancingObligationUnderASC842YearTwoMember_019d49bb-b429-7591-a70f-aa12f48b15f9" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_FinancingObligationUnderASC842YearThreeMember_019d49bb-b429-79ac-a448-dcc9cd2b8c30" xlink:href="panl-20260331.xsd#panl_FinancingObligationUnderASC842YearThreeMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_panl_FinancingObligationDomain_019d49bb-b429-7575-a1fc-4b14df241189" xlink:to="loc_panl_FinancingObligationUnderASC842YearThreeMember_019d49bb-b429-79ac-a448-dcc9cd2b8c30" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_FinancingObligationUnderASC842YearFourMember_019d49bb-b429-7ad2-baad-bd4963a688e8" xlink:href="panl-20260331.xsd#panl_FinancingObligationUnderASC842YearFourMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_panl_FinancingObligationDomain_019d49bb-b429-7575-a1fc-4b14df241189" xlink:to="loc_panl_FinancingObligationUnderASC842YearFourMember_019d49bb-b429-7ad2-baad-bd4963a688e8" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_FinancingObligationUnderASC842AfterYearFourMember_019d49bb-b429-7f54-a6ff-287a06794b86" xlink:href="panl-20260331.xsd#panl_FinancingObligationUnderASC842AfterYearFourMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_panl_FinancingObligationDomain_019d49bb-b429-7575-a1fc-4b14df241189" xlink:to="loc_panl_FinancingObligationUnderASC842AfterYearFourMember_019d49bb-b429-7f54-a6ff-287a06794b86" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_019d49bb-b429-72e7-a861-f10f3b95582d" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-73ac-87df-ec2b13584261" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_019d49bb-b429-72e7-a861-f10f3b95582d" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_019d49bb-b429-7006-ac92-2cf9eacb52ed" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueNextTwelveMonths"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-73ac-87df-ec2b13584261" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_019d49bb-b429-7006-ac92-2cf9eacb52ed" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_019d49bb-b429-76d9-ad8f-50f3c18ea238" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-73ac-87df-ec2b13584261" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_019d49bb-b429-76d9-ad8f-50f3c18ea238" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_019d49bb-b429-7cd8-84b5-657a0b6a974a" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-73ac-87df-ec2b13584261" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_019d49bb-b429-7cd8-84b5-657a0b6a974a" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_019d49bb-b429-76ee-8718-26e6ba295928" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-73ac-87df-ec2b13584261" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_019d49bb-b429-76ee-8718-26e6ba295928" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_FinanceLeaseLiabilityToBePaidAfterYearFour_019d49bb-b429-7c3a-ad5b-4c43b3bae448" xlink:href="panl-20260331.xsd#panl_FinanceLeaseLiabilityToBePaidAfterYearFour"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-73ac-87df-ec2b13584261" xlink:to="loc_panl_FinanceLeaseLiabilityToBePaidAfterYearFour_019d49bb-b429-7c3a-ad5b-4c43b3bae448" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_LongTermDebtAndFinanceLeaseObligation_019d49bb-b429-73b4-8976-26297bcfbdc8" xlink:href="panl-20260331.xsd#panl_LongTermDebtAndFinanceLeaseObligation"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-73ac-87df-ec2b13584261" xlink:to="loc_panl_LongTermDebtAndFinanceLeaseObligation_019d49bb-b429-73b4-8976-26297bcfbdc8" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_FinanceLeaseLiabilityInterestCosts_019d49bb-b429-74a8-8695-12a5000eb30e" xlink:href="panl-20260331.xsd#panl_FinanceLeaseLiabilityInterestCosts"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-73ac-87df-ec2b13584261" xlink:to="loc_panl_FinanceLeaseLiabilityInterestCosts_019d49bb-b429-74a8-8695-12a5000eb30e" xlink:type="arc" order="7"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtAndCapitalLeaseObligations_019d49bb-b429-7af8-b574-d0ed342f70b1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtAndCapitalLeaseObligations"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-73ac-87df-ec2b13584261" xlink:to="loc_us-gaap_LongTermDebtAndCapitalLeaseObligations_019d49bb-b429-7af8-b574-d0ed342f70b1" xlink:type="arc" order="8"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredFinanceCostsGross_019d49bb-b429-7e43-9865-396ab68b5d79" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DeferredFinanceCostsGross"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-73ac-87df-ec2b13584261" xlink:to="loc_us-gaap_DeferredFinanceCostsGross_019d49bb-b429-7e43-9865-396ab68b5d79" xlink:type="arc" order="9"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_LongTermDebtAndLeaseObligationNetOfUnamortizedIssuanceExpense_019d49bb-b429-715f-9030-ad73014814df" xlink:href="panl-20260331.xsd#panl_LongTermDebtAndLeaseObligationNetOfUnamortizedIssuanceExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-73ac-87df-ec2b13584261" xlink:to="loc_panl_LongTermDebtAndLeaseObligationNetOfUnamortizedIssuanceExpense_019d49bb-b429-715f-9030-ad73014814df" xlink:type="arc" order="10"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities_019d49bb-b429-7dfd-85ec-920cd8277538" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-73ac-87df-ec2b13584261" xlink:to="loc_us-gaap_LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities_019d49bb-b429-7dfd-85ec-920cd8277538" xlink:type="arc" order="11"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractualObligation_019d49bb-b429-77ec-a175-2ce2f495107d" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ContractualObligation"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_019d49bb-b429-73ac-87df-ec2b13584261" xlink:to="loc_us-gaap_ContractualObligation_019d49bb-b429-77ec-a175-2ce2f495107d" xlink:type="arc" order="12"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/FinanceLeasesScheduleofFinanceLeasesDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#FinanceLeasesScheduleofFinanceLeasesDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/FinanceLeasesScheduleofFinanceLeasesDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeLeaseDescriptionLineItems_019d49bb-b429-7293-b8c9-4fd281a1587f" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeLeaseDescriptionLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeLeaseDescriptionTable_019d49bb-b429-701b-a451-a5f5a237ebf6" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeLeaseDescriptionTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_LesseeLeaseDescriptionLineItems_019d49bb-b429-7293-b8c9-4fd281a1587f" xlink:to="loc_us-gaap_LesseeLeaseDescriptionTable_019d49bb-b429-701b-a451-a5f5a237ebf6" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeaseContractualTermAxis_019d49bb-b429-70cb-94fd-5147b98cf02c" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LeaseContractualTermAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_LesseeLeaseDescriptionTable_019d49bb-b429-701b-a451-a5f5a237ebf6" xlink:to="loc_us-gaap_LeaseContractualTermAxis_019d49bb-b429-70cb-94fd-5147b98cf02c" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-70cb-94fd-5147b98cf02c_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LeaseContractualTermDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_LeaseContractualTermAxis_019d49bb-b429-70cb-94fd-5147b98cf02c" xlink:to="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-70cb-94fd-5147b98cf02c_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7149-a1b7-e3485927b58d" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LeaseContractualTermDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_LeaseContractualTermAxis_019d49bb-b429-70cb-94fd-5147b98cf02c" xlink:to="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7149-a1b7-e3485927b58d" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkPODSLtdDecember2027Member_019d49bb-b429-700a-83f8-990068980812" xlink:href="panl-20260331.xsd#panl_BulkPODSLtdDecember2027Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7149-a1b7-e3485927b58d" xlink:to="loc_panl_BulkPODSLtdDecember2027Member_019d49bb-b429-700a-83f8-990068980812" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_BulkNordicFiveLtdApril2028Member_019d49bb-b429-7341-93db-2314f0affd2c" xlink:href="panl-20260331.xsd#panl_BulkNordicFiveLtdApril2028Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LeaseContractualTermDomain_019d49bb-b429-7149-a1b7-e3485927b58d" xlink:to="loc_panl_BulkNordicFiveLtdApril2028Member_019d49bb-b429-7341-93db-2314f0affd2c" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiability_019d49bb-b429-71f3-aac1-97929cd40b8a" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinanceLeaseLiability"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LesseeLeaseDescriptionLineItems_019d49bb-b429-7293-b8c9-4fd281a1587f" xlink:to="loc_us-gaap_FinanceLeaseLiability_019d49bb-b429-71f3-aac1-97929cd40b8a" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_FinanceLeaseLiabilityIssuanceCosts_019d49bb-b429-77b8-8cd1-0bd228f92079" xlink:href="panl-20260331.xsd#panl_FinanceLeaseLiabilityIssuanceCosts"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LesseeLeaseDescriptionLineItems_019d49bb-b429-7293-b8c9-4fd281a1587f" xlink:to="loc_panl_FinanceLeaseLiabilityIssuanceCosts_019d49bb-b429-77b8-8cd1-0bd228f92079" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_FinanceLeaseLiabilityNet_019d49bb-b429-7a5d-9be2-1445aa596d9d" xlink:href="panl-20260331.xsd#panl_FinanceLeaseLiabilityNet"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LesseeLeaseDescriptionLineItems_019d49bb-b429-7293-b8c9-4fd281a1587f" xlink:to="loc_panl_FinanceLeaseLiabilityNet_019d49bb-b429-7a5d-9be2-1445aa596d9d" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityCurrent_019d49bb-b429-7771-8b15-1ad1f00862fd" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinanceLeaseLiabilityCurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LesseeLeaseDescriptionLineItems_019d49bb-b429-7293-b8c9-4fd281a1587f" xlink:to="loc_us-gaap_FinanceLeaseLiabilityCurrent_019d49bb-b429-7771-8b15-1ad1f00862fd" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityNoncurrent_019d49bb-b429-7702-84ce-08dc72c2662f" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinanceLeaseLiabilityNoncurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LesseeLeaseDescriptionLineItems_019d49bb-b429-7293-b8c9-4fd281a1587f" xlink:to="loc_us-gaap_FinanceLeaseLiabilityNoncurrent_019d49bb-b429-7702-84ce-08dc72c2662f" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeFinanceLeaseDiscountRate_019d49bb-b429-7af0-8761-11c8a9566429" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeFinanceLeaseDiscountRate"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LesseeLeaseDescriptionLineItems_019d49bb-b429-7293-b8c9-4fd281a1587f" xlink:to="loc_us-gaap_LesseeFinanceLeaseDiscountRate_019d49bb-b429-7af0-8761-11c8a9566429" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_PaymentsForExerciseOfFinanceLeasePurchaseOption_019e084a-e769-7765-9edc-a933d31cb474" xlink:href="panl-20260331.xsd#panl_PaymentsForExerciseOfFinanceLeasePurchaseOption"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LesseeLeaseDescriptionLineItems_019d49bb-b429-7293-b8c9-4fd281a1587f" xlink:to="loc_panl_PaymentsForExerciseOfFinanceLeasePurchaseOption_019e084a-e769-7765-9edc-a933d31cb474" xlink:type="arc" order="6"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/DerivativeInstrumentsandFairValueMeasurementsScheduleofDerivativeInstrumentsDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#DerivativeInstrumentsandFairValueMeasurementsScheduleofDerivativeInstrumentsDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/DerivativeInstrumentsandFairValueMeasurementsScheduleofDerivativeInstrumentsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativesFairValueLineItems_019d49bb-b429-72c4-82a9-bc11b9d07405" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativesFairValueLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_019d49bb-b429-787e-9ddf-e794fdc6b710" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_DerivativesFairValueLineItems_019d49bb-b429-72c4-82a9-bc11b9d07405" xlink:to="loc_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_019d49bb-b429-787e-9ddf-e794fdc6b710" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentRiskAxis_019d49bb-b429-723b-97fb-4a6b516d8ace" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeInstrumentRiskAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_019d49bb-b429-787e-9ddf-e794fdc6b710" xlink:to="loc_us-gaap_DerivativeInstrumentRiskAxis_019d49bb-b429-723b-97fb-4a6b516d8ace" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeContractTypeDomain_019d49bb-b429-723b-97fb-4a6b516d8ace_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeContractTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_DerivativeInstrumentRiskAxis_019d49bb-b429-723b-97fb-4a6b516d8ace" xlink:to="loc_us-gaap_DerivativeContractTypeDomain_019d49bb-b429-723b-97fb-4a6b516d8ace_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeContractTypeDomain_019d49bb-b429-78c1-a400-12dcc2751e66" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeContractTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_DerivativeInstrumentRiskAxis_019d49bb-b429-723b-97fb-4a6b516d8ace" xlink:to="loc_us-gaap_DerivativeContractTypeDomain_019d49bb-b429-78c1-a400-12dcc2751e66" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MarginAccountsMember_019d49bb-b429-72a6-b97c-fa49453b1157" xlink:href="panl-20260331.xsd#panl_MarginAccountsMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DerivativeContractTypeDomain_019d49bb-b429-78c1-a400-12dcc2751e66" xlink:to="loc_panl_MarginAccountsMember_019d49bb-b429-72a6-b97c-fa49453b1157" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_ForwardFreightAgreementsMember_019d49bb-b429-7243-8806-4a2c439bd266" xlink:href="panl-20260331.xsd#panl_ForwardFreightAgreementsMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DerivativeContractTypeDomain_019d49bb-b429-78c1-a400-12dcc2751e66" xlink:to="loc_panl_ForwardFreightAgreementsMember_019d49bb-b429-7243-8806-4a2c439bd266" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_FuelSwapContractMember_019d49bb-b429-7381-9dec-27c95182cbc2" xlink:href="panl-20260331.xsd#panl_FuelSwapContractMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DerivativeContractTypeDomain_019d49bb-b429-78c1-a400-12dcc2751e66" xlink:to="loc_panl_FuelSwapContractMember_019d49bb-b429-7381-9dec-27c95182cbc2" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestRateCapMember_019d49bb-b429-793b-851c-3ba37527b6d0" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestRateCapMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DerivativeContractTypeDomain_019d49bb-b429-78c1-a400-12dcc2751e66" xlink:to="loc_us-gaap_InterestRateCapMember_019d49bb-b429-793b-851c-3ba37527b6d0" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EnergyRelatedDerivativeMember_019d49bb-b429-7c1c-a52e-e0473f61ad66" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EnergyRelatedDerivativeMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DerivativeContractTypeDomain_019d49bb-b429-78c1-a400-12dcc2751e66" xlink:to="loc_us-gaap_EnergyRelatedDerivativeMember_019d49bb-b429-7c1c-a52e-e0473f61ad66" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis_019d49bb-b429-741c-988a-3ebcb6531403" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_019d49bb-b429-787e-9ddf-e794fdc6b710" xlink:to="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis_019d49bb-b429-741c-988a-3ebcb6531403" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_019d49bb-b429-741c-988a-3ebcb6531403_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis_019d49bb-b429-741c-988a-3ebcb6531403" xlink:to="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_019d49bb-b429-741c-988a-3ebcb6531403_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_019d49bb-b429-7e64-9cc0-da3a5996ffaf" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis_019d49bb-b429-741c-988a-3ebcb6531403" xlink:to="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_019d49bb-b429-7e64-9cc0-da3a5996ffaf" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel1Member_019d49bb-b429-7cf1-9498-7504166968d5" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueInputsLevel1Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_019d49bb-b429-7e64-9cc0-da3a5996ffaf" xlink:to="loc_us-gaap_FairValueInputsLevel1Member_019d49bb-b429-7cf1-9498-7504166968d5" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel2Member_019d49bb-b429-73e6-ae61-94d3ca6c3e7c" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueInputsLevel2Member"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_019d49bb-b429-7e64-9cc0-da3a5996ffaf" xlink:to="loc_us-gaap_FairValueInputsLevel2Member_019d49bb-b429-73e6-ae61-94d3ca6c3e7c" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetNotionalAmount_019d49bb-b429-7495-8413-d0ab70a9529b" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeAssetNotionalAmount"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DerivativesFairValueLineItems_019d49bb-b429-72c4-82a9-bc11b9d07405" xlink:to="loc_us-gaap_DerivativeAssetNotionalAmount_019d49bb-b429-7495-8413-d0ab70a9529b" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilityNotionalAmount_019d49bb-b429-79d0-9d6f-222329d5b3f7" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeLiabilityNotionalAmount"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DerivativesFairValueLineItems_019d49bb-b429-72c4-82a9-bc11b9d07405" xlink:to="loc_us-gaap_DerivativeLiabilityNotionalAmount_019d49bb-b429-79d0-9d6f-222329d5b3f7" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeGainLossOnDerivativeNet_019d49bb-b429-75d8-9a64-5e660e09ca1d" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeGainLossOnDerivativeNet"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DerivativesFairValueLineItems_019d49bb-b429-72c4-82a9-bc11b9d07405" xlink:to="loc_us-gaap_DerivativeGainLossOnDerivativeNet_019d49bb-b429-75d8-9a64-5e660e09ca1d" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnrealizedGainLossOnDerivatives_019d49bb-b429-72b4-aa56-30dc4160e027" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UnrealizedGainLossOnDerivatives"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DerivativesFairValueLineItems_019d49bb-b429-72c4-82a9-bc11b9d07405" xlink:to="loc_us-gaap_UnrealizedGainLossOnDerivatives_019d49bb-b429-72b4-aa56-30dc4160e027" xlink:type="arc" order="3"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/DerivativeInstrumentsandFairValueMeasurementsUnrealizedGainLossonDerivativeInstrumentsDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#DerivativeInstrumentsandFairValueMeasurementsUnrealizedGainLossonDerivativeInstrumentsDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/DerivativeInstrumentsandFairValueMeasurementsUnrealizedGainLossonDerivativeInstrumentsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_019d49bb-b429-70e9-8507-e9a43951a2a1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_019d49bb-b429-760f-ad4d-c4009cc83f24" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_019d49bb-b429-70e9-8507-e9a43951a2a1" xlink:to="loc_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_019d49bb-b429-760f-ad4d-c4009cc83f24" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentRiskAxis_019d49bb-b429-7322-8079-fc0323a3ebdc" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeInstrumentRiskAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_019d49bb-b429-760f-ad4d-c4009cc83f24" xlink:to="loc_us-gaap_DerivativeInstrumentRiskAxis_019d49bb-b429-7322-8079-fc0323a3ebdc" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeContractTypeDomain_019d49bb-b429-7322-8079-fc0323a3ebdc_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeContractTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_DerivativeInstrumentRiskAxis_019d49bb-b429-7322-8079-fc0323a3ebdc" xlink:to="loc_us-gaap_DerivativeContractTypeDomain_019d49bb-b429-7322-8079-fc0323a3ebdc_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeContractTypeDomain_019d49bb-b429-77b7-b947-de773e3baf71" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeContractTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_DerivativeInstrumentRiskAxis_019d49bb-b429-7322-8079-fc0323a3ebdc" xlink:to="loc_us-gaap_DerivativeContractTypeDomain_019d49bb-b429-77b7-b947-de773e3baf71" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_ForwardFreightAgreementsMember_019d49bb-b429-7185-aa30-a15715109995" xlink:href="panl-20260331.xsd#panl_ForwardFreightAgreementsMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DerivativeContractTypeDomain_019d49bb-b429-77b7-b947-de773e3baf71" xlink:to="loc_panl_ForwardFreightAgreementsMember_019d49bb-b429-7185-aa30-a15715109995" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EnergyRelatedDerivativeMember_019d49bb-b429-7880-b6c5-4056f88a390b" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EnergyRelatedDerivativeMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DerivativeContractTypeDomain_019d49bb-b429-77b7-b947-de773e3baf71" xlink:to="loc_us-gaap_EnergyRelatedDerivativeMember_019d49bb-b429-7880-b6c5-4056f88a390b" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestRateCapMember_019d49bb-b429-7699-92aa-107f994cb82b" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestRateCapMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DerivativeContractTypeDomain_019d49bb-b429-77b7-b947-de773e3baf71" xlink:to="loc_us-gaap_InterestRateCapMember_019d49bb-b429-7699-92aa-107f994cb82b" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnrealizedGainLossOnDerivatives_019d49bb-b429-788d-b564-7c7c07b2e922" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UnrealizedGainLossOnDerivatives"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_019d49bb-b429-70e9-8507-e9a43951a2a1" xlink:to="loc_us-gaap_UnrealizedGainLossOnDerivatives_019d49bb-b429-788d-b564-7c7c07b2e922" xlink:type="arc" order="0"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/RelatedPartyTransactionsAmountsandNotesPayabletoRelatedPartiesDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#RelatedPartyTransactionsAmountsandNotesPayabletoRelatedPartiesDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/RelatedPartyTransactionsAmountsandNotesPayabletoRelatedPartiesDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionLineItems_019d49bb-b429-7ae2-baa3-fe4c02c0daf2" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_019d49bb-b429-7159-9a2b-02ed7a8c2e41" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_019d49bb-b429-7ae2-baa3-fe4c02c0daf2" xlink:to="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_019d49bb-b429-7159-9a2b-02ed7a8c2e41" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019d49bb-b429-788c-bf66-6b21eb3c85b5" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_019d49bb-b429-7159-9a2b-02ed7a8c2e41" xlink:to="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019d49bb-b429-788c-bf66-6b21eb3c85b5" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyDomain_019d49bb-b429-788c-bf66-6b21eb3c85b5_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019d49bb-b429-788c-bf66-6b21eb3c85b5" xlink:to="loc_us-gaap_RelatedPartyDomain_019d49bb-b429-788c-bf66-6b21eb3c85b5_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyDomain_019d49bb-b429-736d-a9df-6670ecbd06c0" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019d49bb-b429-788c-bf66-6b21eb3c85b5" xlink:to="loc_us-gaap_RelatedPartyDomain_019d49bb-b429-736d-a9df-6670ecbd06c0" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_AffiliatedCompaniesSeamarMember_019d49bb-b429-7448-8d5e-a4f783e655b7" xlink:href="panl-20260331.xsd#panl_AffiliatedCompaniesSeamarMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_019d49bb-b429-736d-a9df-6670ecbd06c0" xlink:to="loc_panl_AffiliatedCompaniesSeamarMember_019d49bb-b429-7448-8d5e-a4f783e655b7" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MTMShipManagementMember_019d49bb-b429-7d3b-80b8-08fc72b3b9a8" xlink:href="panl-20260331.xsd#panl_MTMShipManagementMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_019d49bb-b429-736d-a9df-6670ecbd06c0" xlink:to="loc_panl_MTMShipManagementMember_019d49bb-b429-7d3b-80b8-08fc72b3b9a8" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_CommissionsPayableMember_019d49bb-b429-7988-8330-59b6e89ef5e1" xlink:href="panl-20260331.xsd#panl_CommissionsPayableMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_019d49bb-b429-736d-a9df-6670ecbd06c0" xlink:to="loc_panl_CommissionsPayableMember_019d49bb-b429-7988-8330-59b6e89ef5e1" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_PhoenixBulkCarriersBrasilMember_019dfe4c-f4a9-7a9c-afb2-31506cb7329e" xlink:href="panl-20260331.xsd#panl_PhoenixBulkCarriersBrasilMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_019d49bb-b429-736d-a9df-6670ecbd06c0" xlink:to="loc_panl_PhoenixBulkCarriersBrasilMember_019dfe4c-f4a9-7a9c-afb2-31506cb7329e" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyMember_019dff53-36d3-7adc-ad31-10775accdf73" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_019d49bb-b429-736d-a9df-6670ecbd06c0" xlink:to="loc_us-gaap_RelatedPartyMember_019dff53-36d3-7adc-ad31-10775accdf73" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilitiesCurrent_019d49bb-b429-7ada-98af-c1ec08277825" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherLiabilitiesCurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_019d49bb-b429-7ae2-baa3-fe4c02c0daf2" xlink:to="loc_us-gaap_OtherLiabilitiesCurrent_019d49bb-b429-7ada-98af-c1ec08277825" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt_019d49bb-b429-73fb-a80a-70e367d9fe64" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_019d49bb-b429-7ae2-baa3-fe4c02c0daf2" xlink:to="loc_us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt_019d49bb-b429-73fb-a80a-70e367d9fe64" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionAmountsOfTransaction_019e0063-c0c1-72d4-ae99-58f02d47e474" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionAmountsOfTransaction"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_019d49bb-b429-7ae2-baa3-fe4c02c0daf2" xlink:to="loc_us-gaap_RelatedPartyTransactionAmountsOfTransaction_019e0063-c0c1-72d4-ae99-58f02d47e474" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableTradeCurrent_019dfe52-a132-7cf6-88ac-0d226ed04878" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccountsPayableTradeCurrent"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_019d49bb-b429-7ae2-baa3-fe4c02c0daf2" xlink:to="loc_us-gaap_AccountsPayableTradeCurrent_019dfe52-a132-7cf6-88ac-0d226ed04878" xlink:type="arc" order="3"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/RelatedPartyTransactionsAdditionalInformationDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#RelatedPartyTransactionsAdditionalInformationDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/RelatedPartyTransactionsAdditionalInformationDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionLineItems_019d49bb-b429-73e0-bc25-89a6d72179fd" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_019d49bb-b429-7f7b-a8ec-9e0205a9f775" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_019d49bb-b429-73e0-bc25-89a6d72179fd" xlink:to="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_019d49bb-b429-7f7b-a8ec-9e0205a9f775" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionAxis_019d49bb-b429-7e14-80c2-a88faf417a99" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_019d49bb-b429-7f7b-a8ec-9e0205a9f775" xlink:to="loc_us-gaap_RelatedPartyTransactionAxis_019d49bb-b429-7e14-80c2-a88faf417a99" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionDomain_019d49bb-b429-7e14-80c2-a88faf417a99_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RelatedPartyTransactionAxis_019d49bb-b429-7e14-80c2-a88faf417a99" xlink:to="loc_us-gaap_RelatedPartyTransactionDomain_019d49bb-b429-7e14-80c2-a88faf417a99_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionDomain_019d49bb-b429-7832-98a5-3ac593cb8e0e" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RelatedPartyTransactionAxis_019d49bb-b429-7e14-80c2-a88faf417a99" xlink:to="loc_us-gaap_RelatedPartyTransactionDomain_019d49bb-b429-7832-98a5-3ac593cb8e0e" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_MTMShipManagementMember_019d49bb-b429-733b-8099-7e4adab5266b" xlink:href="panl-20260331.xsd#panl_MTMShipManagementMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyTransactionDomain_019d49bb-b429-7832-98a5-3ac593cb8e0e" xlink:to="loc_panl_MTMShipManagementMember_019d49bb-b429-733b-8099-7e4adab5266b" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019d49bb-b429-7ee8-923d-dcb03b17b3fc" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_019d49bb-b429-7f7b-a8ec-9e0205a9f775" xlink:to="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019d49bb-b429-7ee8-923d-dcb03b17b3fc" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyDomain_019d49bb-b429-7ee8-923d-dcb03b17b3fc_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019d49bb-b429-7ee8-923d-dcb03b17b3fc" xlink:to="loc_us-gaap_RelatedPartyDomain_019d49bb-b429-7ee8-923d-dcb03b17b3fc_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyDomain_019d49bb-b429-7591-ace2-fb1538120ada" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019d49bb-b429-7ee8-923d-dcb03b17b3fc" xlink:to="loc_us-gaap_RelatedPartyDomain_019d49bb-b429-7591-ace2-fb1538120ada" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyMember_019d49bb-b429-7534-929d-ed6eec48f9d2" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_019d49bb-b429-7591-ace2-fb1538120ada" xlink:to="loc_us-gaap_RelatedPartyMember_019d49bb-b429-7534-929d-ed6eec48f9d2" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_TechnicalManagementFees_019d49bb-b429-73d7-9884-9877452dc77e" xlink:href="panl-20260331.xsd#panl_TechnicalManagementFees"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_019d49bb-b429-73e0-bc25-89a6d72179fd" xlink:to="loc_panl_TechnicalManagementFees_019d49bb-b429-73d7-9884-9877452dc77e" xlink:type="arc" order="0"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/CommitmentsandContingenciesNarrativeDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#CommitmentsandContingenciesNarrativeDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/CommitmentsandContingenciesNarrativeDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7879-b04a-d30b5a32ca49" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherCommitmentsLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentsTable_019d49bb-b429-7e35-855b-5bba91370835" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherCommitmentsTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7879-b04a-d30b5a32ca49" xlink:to="loc_us-gaap_OtherCommitmentsTable_019d49bb-b429-7e35-855b-5bba91370835" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeAxis_019d49bb-b429-781d-9ec6-6f9c4e795a9a" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_OtherCommitmentsTable_019d49bb-b429-7e35-855b-5bba91370835" xlink:to="loc_srt_RangeAxis_019d49bb-b429-781d-9ec6-6f9c4e795a9a" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeMember_019d49bb-b429-781d-9ec6-6f9c4e795a9a_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_RangeAxis_019d49bb-b429-781d-9ec6-6f9c4e795a9a" xlink:to="loc_srt_RangeMember_019d49bb-b429-781d-9ec6-6f9c4e795a9a_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeMember_019d49bb-b429-746a-9c4a-288ac4c1ba28" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_RangeAxis_019d49bb-b429-781d-9ec6-6f9c4e795a9a" xlink:to="loc_srt_RangeMember_019d49bb-b429-746a-9c4a-288ac4c1ba28" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MinimumMember_019d49bb-b429-76cd-a30d-cbfb7554eef8" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MinimumMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_019d49bb-b429-746a-9c4a-288ac4c1ba28" xlink:to="loc_srt_MinimumMember_019d49bb-b429-76cd-a30d-cbfb7554eef8" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MaximumMember_019d49bb-b429-7891-9ea9-bfea5dc6c889" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MaximumMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_019d49bb-b429-746a-9c4a-288ac4c1ba28" xlink:to="loc_srt_MaximumMember_019d49bb-b429-7891-9ea9-bfea5dc6c889" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfIncomeLocationBalanceAxis_019d49bb-b429-7b8b-ab4b-7f3c3c81785b" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfIncomeLocationBalanceAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_OtherCommitmentsTable_019d49bb-b429-7e35-855b-5bba91370835" xlink:to="loc_us-gaap_StatementOfIncomeLocationBalanceAxis_019d49bb-b429-7b8b-ab4b-7f3c3c81785b" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_StatementGeographicalAxis_019e084d-3999-71f9-afce-ba798070af38" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_StatementGeographicalAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_OtherCommitmentsTable_019d49bb-b429-7e35-855b-5bba91370835" xlink:to="loc_srt_StatementGeographicalAxis_019e084d-3999-71f9-afce-ba798070af38" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain_019e084d-3999-71f9-afce-ba798070af38_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_SegmentGeographicalDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_StatementGeographicalAxis_019e084d-3999-71f9-afce-ba798070af38" xlink:to="loc_srt_SegmentGeographicalDomain_019e084d-3999-71f9-afce-ba798070af38_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain_019e084d-3999-7426-9525-c8954d335995" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_SegmentGeographicalDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_StatementGeographicalAxis_019e084d-3999-71f9-afce-ba798070af38" xlink:to="loc_srt_SegmentGeographicalDomain_019e084d-3999-7426-9525-c8954d335995" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_country_GR_019e084d-3999-7f92-a779-099fadd03459" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_GR"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_SegmentGeographicalDomain_019e084d-3999-7426-9525-c8954d335995" xlink:to="loc_country_GR_019e084d-3999-7f92-a779-099fadd03459" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseRemainingLeaseTerm_019d49bb-b429-771d-b009-1868cbd7d79c" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseRemainingLeaseTerm"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7879-b04a-d30b5a32ca49" xlink:to="loc_us-gaap_LesseeOperatingLeaseRemainingLeaseTerm_019d49bb-b429-771d-b009-1868cbd7d79c" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_019d49bb-b429-712e-a512-9e00e0232604" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7879-b04a-d30b5a32ca49" xlink:to="loc_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_019d49bb-b429-712e-a512-9e00e0232604" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseCost_019d49bb-b429-7f59-8b44-b0c5c8babed3" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingLeaseCost"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7879-b04a-d30b5a32ca49" xlink:to="loc_us-gaap_OperatingLeaseCost_019d49bb-b429-7f59-8b44-b0c5c8babed3" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_LesseeOperatingLeaseTermExtension_019e084c-ca0a-7227-a1f3-300e07bf1502" xlink:href="panl-20260331.xsd#panl_LesseeOperatingLeaseTermExtension"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7879-b04a-d30b5a32ca49" xlink:to="loc_panl_LesseeOperatingLeaseTermExtension_019e084c-ca0a-7227-a1f3-300e07bf1502" xlink:type="arc" order="3"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/CommitmentsandContingenciesNarrativeDetails_1" xlink:type="simple" xlink:href="panl-20260331.xsd#CommitmentsandContingenciesNarrativeDetails_1"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/CommitmentsandContingenciesNarrativeDetails_1" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7879-b04a-d30b5a32ca49" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherCommitmentsLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentsTable_019d49bb-b429-7e35-855b-5bba91370835" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherCommitmentsTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7879-b04a-d30b5a32ca49" xlink:to="loc_us-gaap_OtherCommitmentsTable_019d49bb-b429-7e35-855b-5bba91370835" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeAxis_019d49bb-b429-781d-9ec6-6f9c4e795a9a" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_OtherCommitmentsTable_019d49bb-b429-7e35-855b-5bba91370835" xlink:to="loc_srt_RangeAxis_019d49bb-b429-781d-9ec6-6f9c4e795a9a" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeMember_019d49bb-b429-781d-9ec6-6f9c4e795a9a_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_RangeAxis_019d49bb-b429-781d-9ec6-6f9c4e795a9a" xlink:to="loc_srt_RangeMember_019d49bb-b429-781d-9ec6-6f9c4e795a9a_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeMember_019d49bb-b429-746a-9c4a-288ac4c1ba28" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_RangeAxis_019d49bb-b429-781d-9ec6-6f9c4e795a9a" xlink:to="loc_srt_RangeMember_019d49bb-b429-746a-9c4a-288ac4c1ba28" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MinimumMember_019d49bb-b429-76cd-a30d-cbfb7554eef8" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MinimumMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_019d49bb-b429-746a-9c4a-288ac4c1ba28" xlink:to="loc_srt_MinimumMember_019d49bb-b429-76cd-a30d-cbfb7554eef8" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MaximumMember_019d49bb-b429-7891-9ea9-bfea5dc6c889" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MaximumMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_019d49bb-b429-746a-9c4a-288ac4c1ba28" xlink:to="loc_srt_MaximumMember_019d49bb-b429-7891-9ea9-bfea5dc6c889" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_StatementGeographicalAxis_019e084d-3999-71f9-afce-ba798070af38" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_StatementGeographicalAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_OtherCommitmentsTable_019d49bb-b429-7e35-855b-5bba91370835" xlink:to="loc_srt_StatementGeographicalAxis_019e084d-3999-71f9-afce-ba798070af38" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain_019e084d-3999-71f9-afce-ba798070af38_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_SegmentGeographicalDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_StatementGeographicalAxis_019e084d-3999-71f9-afce-ba798070af38" xlink:to="loc_srt_SegmentGeographicalDomain_019e084d-3999-71f9-afce-ba798070af38_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain_019e084d-3999-7426-9525-c8954d335995" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_SegmentGeographicalDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_StatementGeographicalAxis_019e084d-3999-71f9-afce-ba798070af38" xlink:to="loc_srt_SegmentGeographicalDomain_019e084d-3999-7426-9525-c8954d335995" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_country_GR_019e084d-3999-7f92-a779-099fadd03459" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_GR"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_SegmentGeographicalDomain_019e084d-3999-7426-9525-c8954d335995" xlink:to="loc_country_GR_019e084d-3999-7f92-a779-099fadd03459" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseRemainingLeaseTerm_019d49bb-b429-771d-b009-1868cbd7d79c" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseRemainingLeaseTerm"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7879-b04a-d30b5a32ca49" xlink:to="loc_us-gaap_LesseeOperatingLeaseRemainingLeaseTerm_019d49bb-b429-771d-b009-1868cbd7d79c" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_019d49bb-b429-712e-a512-9e00e0232604" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7879-b04a-d30b5a32ca49" xlink:to="loc_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_019d49bb-b429-712e-a512-9e00e0232604" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseCost_019d49bb-b429-7f59-8b44-b0c5c8babed3" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingLeaseCost"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7879-b04a-d30b5a32ca49" xlink:to="loc_us-gaap_OperatingLeaseCost_019d49bb-b429-7f59-8b44-b0c5c8babed3" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_LesseeOperatingLeaseTermExtension_019e084c-ca0a-7227-a1f3-300e07bf1502" xlink:href="panl-20260331.xsd#panl_LesseeOperatingLeaseTermExtension"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7879-b04a-d30b5a32ca49" xlink:to="loc_panl_LesseeOperatingLeaseTermExtension_019e084c-ca0a-7227-a1f3-300e07bf1502" xlink:type="arc" order="3"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/CommitmentandContingenciesScheduleofLeaseCommitmentsDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#CommitmentandContingenciesScheduleofLeaseCommitmentsDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/CommitmentandContingenciesScheduleofLeaseCommitmentsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7047-b3dc-c58f9adf3c7d" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherCommitmentsLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentsTable_019d49bb-b429-73cf-b3cc-17fb6597d443" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherCommitmentsTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7047-b3dc-c58f9adf3c7d" xlink:to="loc_us-gaap_OtherCommitmentsTable_019d49bb-b429-73cf-b3cc-17fb6597d443" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_StatementGeographicalAxis_019d49bb-b429-7f65-b97d-a0c342f060be" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_StatementGeographicalAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_OtherCommitmentsTable_019d49bb-b429-73cf-b3cc-17fb6597d443" xlink:to="loc_srt_StatementGeographicalAxis_019d49bb-b429-7f65-b97d-a0c342f060be" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain_019d49bb-b429-7f65-b97d-a0c342f060be_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_SegmentGeographicalDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_StatementGeographicalAxis_019d49bb-b429-7f65-b97d-a0c342f060be" xlink:to="loc_srt_SegmentGeographicalDomain_019d49bb-b429-7f65-b97d-a0c342f060be_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain_019d49bb-b429-741b-ab2d-4a13f1258395" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_SegmentGeographicalDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_StatementGeographicalAxis_019d49bb-b429-7f65-b97d-a0c342f060be" xlink:to="loc_srt_SegmentGeographicalDomain_019d49bb-b429-741b-ab2d-4a13f1258395" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_country_DK_019d49bb-b429-74b0-b1c0-cc1a6d28fa6a" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_DK"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_SegmentGeographicalDomain_019d49bb-b429-741b-ab2d-4a13f1258395" xlink:to="loc_country_DK_019d49bb-b429-74b0-b1c0-cc1a6d28fa6a" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_country_SG_019d49bb-b429-716b-bcbb-cd83ef7b3ac0" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_SG"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_SegmentGeographicalDomain_019d49bb-b429-741b-ab2d-4a13f1258395" xlink:to="loc_country_SG_019d49bb-b429-716b-bcbb-cd83ef7b3ac0" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_country_US_019d49bb-b429-782c-8781-a0dfbdea3f3b" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_US"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_SegmentGeographicalDomain_019d49bb-b429-741b-ab2d-4a13f1258395" xlink:to="loc_country_US_019d49bb-b429-782c-8781-a0dfbdea3f3b" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_country_GR_019d49bb-b429-7f97-b90d-c18e051319ac" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_GR"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_SegmentGeographicalDomain_019d49bb-b429-741b-ab2d-4a13f1258395" xlink:to="loc_country_GR_019d49bb-b429-7f97-b90d-c18e051319ac" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseRemainingLeaseTerm_019d49bb-b429-7c8d-a52b-1bb848704336" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseRemainingLeaseTerm"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7047-b3dc-c58f9adf3c7d" xlink:to="loc_us-gaap_LesseeOperatingLeaseRemainingLeaseTerm_019d49bb-b429-7c8d-a52b-1bb848704336" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_OperatingLeasesMonthlyRentExpense_019d49bb-b429-796d-b521-58ea4fb86aa2" xlink:href="panl-20260331.xsd#panl_OperatingLeasesMonthlyRentExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7047-b3dc-c58f9adf3c7d" xlink:to="loc_panl_OperatingLeasesMonthlyRentExpense_019d49bb-b429-796d-b521-58ea4fb86aa2" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_019d49bb-b429-7322-b8c1-25d16ac70250" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OtherCommitmentsLineItems_019d49bb-b429-7047-b3dc-c58f9adf3c7d" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_019d49bb-b429-7322-b8c1-25d16ac70250" xlink:type="arc" order="2"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/SegmentReportingDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#SegmentReportingDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/SegmentReportingDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingInformationLineItems_019d49bb-b429-7a38-973a-13a475c05ac7" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SegmentReportingInformationLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_019d49bb-b429-742a-85e2-d874289fbb6a" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_019d49bb-b429-7a38-973a-13a475c05ac7" xlink:to="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_019d49bb-b429-742a-85e2-d874289fbb6a" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ProductOrServiceAxis_019d49bb-b429-76f3-89ec-e4860f9e7a7c" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ProductOrServiceAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_019d49bb-b429-742a-85e2-d874289fbb6a" xlink:to="loc_srt_ProductOrServiceAxis_019d49bb-b429-76f3-89ec-e4860f9e7a7c" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ProductsAndServicesDomain_019d49bb-b429-76f3-89ec-e4860f9e7a7c_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ProductsAndServicesDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_ProductOrServiceAxis_019d49bb-b429-76f3-89ec-e4860f9e7a7c" xlink:to="loc_srt_ProductsAndServicesDomain_019d49bb-b429-76f3-89ec-e4860f9e7a7c_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ProductsAndServicesDomain_019d49bb-b429-7bff-8b74-34f23c48f760" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ProductsAndServicesDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_ProductOrServiceAxis_019d49bb-b429-76f3-89ec-e4860f9e7a7c" xlink:to="loc_srt_ProductsAndServicesDomain_019d49bb-b429-7bff-8b74-34f23c48f760" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_VoyageMember_019d49bb-b429-746d-863a-361459bc8b60" xlink:href="panl-20260331.xsd#panl_VoyageMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_019d49bb-b429-7bff-8b74-34f23c48f760" xlink:to="loc_panl_VoyageMember_019d49bb-b429-746d-863a-361459bc8b60" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_CharterMember_019d49bb-b429-70e5-8880-1b1eb9909efc" xlink:href="panl-20260331.xsd#panl_CharterMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_019d49bb-b429-7bff-8b74-34f23c48f760" xlink:to="loc_panl_CharterMember_019d49bb-b429-70e5-8880-1b1eb9909efc" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_OperatingSegmentMember_019d49bb-b429-7358-b739-45f395dda452" xlink:href="panl-20260331.xsd#panl_OperatingSegmentMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_019d49bb-b429-7bff-8b74-34f23c48f760" xlink:to="loc_panl_OperatingSegmentMember_019d49bb-b429-7358-b739-45f395dda452" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_TerminalStevedoreRevenueMember_019e0837-a0e0-7aa6-bc84-86242688cf21" xlink:href="panl-20260331.xsd#panl_TerminalStevedoreRevenueMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_019d49bb-b429-7bff-8b74-34f23c48f760" xlink:to="loc_panl_TerminalStevedoreRevenueMember_019e0837-a0e0-7aa6-bc84-86242688cf21" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis_019d49bb-b429-77c0-99e3-17687e12db7e" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementBusinessSegmentsAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_019d49bb-b429-742a-85e2-d874289fbb6a" xlink:to="loc_us-gaap_StatementBusinessSegmentsAxis_019d49bb-b429-77c0-99e3-17687e12db7e" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentDomain_019d49bb-b429-77c0-99e3-17687e12db7e_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SegmentDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_019d49bb-b429-77c0-99e3-17687e12db7e" xlink:to="loc_us-gaap_SegmentDomain_019d49bb-b429-77c0-99e3-17687e12db7e_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentDomain_019d49bb-b429-743d-9ee0-ceee53a96f60" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SegmentDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_019d49bb-b429-77c0-99e3-17687e12db7e" xlink:to="loc_us-gaap_SegmentDomain_019d49bb-b429-743d-9ee0-ceee53a96f60" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_SeaborneDryBulkLogisticsAndTransportationServicesSegmentMember_019d49bb-b429-788f-93a1-a299a467a248" xlink:href="panl-20260331.xsd#panl_SeaborneDryBulkLogisticsAndTransportationServicesSegmentMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentDomain_019d49bb-b429-743d-9ee0-ceee53a96f60" xlink:to="loc_panl_SeaborneDryBulkLogisticsAndTransportationServicesSegmentMember_019d49bb-b429-788f-93a1-a299a467a248" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidationItemsAxis_019d49bb-b429-74e1-b8b2-98e944d3077a" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ConsolidationItemsAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_019d49bb-b429-742a-85e2-d874289fbb6a" xlink:to="loc_srt_ConsolidationItemsAxis_019d49bb-b429-74e1-b8b2-98e944d3077a" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidationItemsDomain_019d49bb-b429-74e1-b8b2-98e944d3077a_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ConsolidationItemsDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_ConsolidationItemsAxis_019d49bb-b429-74e1-b8b2-98e944d3077a" xlink:to="loc_srt_ConsolidationItemsDomain_019d49bb-b429-74e1-b8b2-98e944d3077a_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidationItemsDomain_019d49bb-b429-72ce-b43a-084f0c5cc376" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ConsolidationItemsDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_ConsolidationItemsAxis_019d49bb-b429-74e1-b8b2-98e944d3077a" xlink:to="loc_srt_ConsolidationItemsDomain_019d49bb-b429-72ce-b43a-084f0c5cc376" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingSegmentsMember_019d49bb-b429-7bf0-baf9-88372f8cf637" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingSegmentsMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ConsolidationItemsDomain_019d49bb-b429-72ce-b43a-084f0c5cc376" xlink:to="loc_us-gaap_OperatingSegmentsMember_019d49bb-b429-7bf0-baf9-88372f8cf637" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CorporateNonSegmentMember_019d49bb-b429-783a-bf2b-08dd7146edee" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CorporateNonSegmentMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ConsolidationItemsDomain_019d49bb-b429-72ce-b43a-084f0c5cc376" xlink:to="loc_us-gaap_CorporateNonSegmentMember_019d49bb-b429-783a-bf2b-08dd7146edee" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_StatementGeographicalAxis_019d49bb-b429-799c-adf2-79e79471f147" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_StatementGeographicalAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_019d49bb-b429-742a-85e2-d874289fbb6a" xlink:to="loc_srt_StatementGeographicalAxis_019d49bb-b429-799c-adf2-79e79471f147" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain_019d49bb-b429-799c-adf2-79e79471f147_default" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_SegmentGeographicalDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_StatementGeographicalAxis_019d49bb-b429-799c-adf2-79e79471f147" xlink:to="loc_srt_SegmentGeographicalDomain_019d49bb-b429-799c-adf2-79e79471f147_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain_019d49bb-b429-77f6-aba2-b2d9e1b0ea61" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_SegmentGeographicalDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_StatementGeographicalAxis_019d49bb-b429-799c-adf2-79e79471f147" xlink:to="loc_srt_SegmentGeographicalDomain_019d49bb-b429-77f6-aba2-b2d9e1b0ea61" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_country_US_019d49bb-b429-74b4-8a5a-51126bb42d17" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_US"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_SegmentGeographicalDomain_019d49bb-b429-77f6-aba2-b2d9e1b0ea61" xlink:to="loc_country_US_019d49bb-b429-74b4-8a5a-51126bb42d17" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_Country_SingaporeDomain_019d49bb-b429-7709-867e-08cc233d7942" xlink:href="panl-20260331.xsd#panl_Country_SingaporeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_SegmentGeographicalDomain_019d49bb-b429-77f6-aba2-b2d9e1b0ea61" xlink:to="loc_panl_Country_SingaporeDomain_019d49bb-b429-7709-867e-08cc233d7942" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_Country_GermanyDomain_019d49bb-b429-7fbb-939e-4fdc25a6a5a3" xlink:href="panl-20260331.xsd#panl_Country_GermanyDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_SegmentGeographicalDomain_019d49bb-b429-77f6-aba2-b2d9e1b0ea61" xlink:to="loc_panl_Country_GermanyDomain_019d49bb-b429-7fbb-939e-4fdc25a6a5a3" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_OtherMember_019d49bb-b429-7781-b716-18270ef44081" xlink:href="panl-20260331.xsd#panl_OtherMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_SegmentGeographicalDomain_019d49bb-b429-77f6-aba2-b2d9e1b0ea61" xlink:to="loc_panl_OtherMember_019d49bb-b429-7781-b716-18270ef44081" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfOperatingSegments_019e0802-83ae-72ea-a0f9-079ca464c7bb" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NumberOfOperatingSegments"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_019d49bb-b429-7a38-973a-13a475c05ac7" xlink:to="loc_us-gaap_NumberOfOperatingSegments_019e0802-83ae-72ea-a0f9-079ca464c7bb" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfReportableSegments_019e080d-0670-7b99-8eae-17db72f54ab4" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NumberOfReportableSegments"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_019d49bb-b429-7a38-973a-13a475c05ac7" xlink:to="loc_us-gaap_NumberOfReportableSegments_019e080d-0670-7b99-8eae-17db72f54ab4" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_019d49bb-b429-74c1-b270-ab888d023b53" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_019d49bb-b429-7a38-973a-13a475c05ac7" xlink:to="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_019d49bb-b429-74c1-b270-ab888d023b53" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_VoyageExpense_019d49bb-b429-75fd-8ca8-2421f9e81b70" xlink:href="panl-20260331.xsd#panl_VoyageExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_019d49bb-b429-7a38-973a-13a475c05ac7" xlink:to="loc_panl_VoyageExpense_019d49bb-b429-75fd-8ca8-2421f9e81b70" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_RevenueFromContractWithCustomerExcludingAssessedTaxAndVoyageExpense_019d49bb-b429-77b4-8461-06c97aebe55d" xlink:href="panl-20260331.xsd#panl_RevenueFromContractWithCustomerExcludingAssessedTaxAndVoyageExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_019d49bb-b429-7a38-973a-13a475c05ac7" xlink:to="loc_panl_RevenueFromContractWithCustomerExcludingAssessedTaxAndVoyageExpense_019d49bb-b429-77b4-8461-06c97aebe55d" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonoperatingIncomeExpense_019d49bb-b429-7385-8bdc-c2e86cb77544" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NonoperatingIncomeExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_019d49bb-b429-7a38-973a-13a475c05ac7" xlink:to="loc_us-gaap_NonoperatingIncomeExpense_019d49bb-b429-7385-8bdc-c2e86cb77544" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_019d49bb-b429-77a8-bc21-c6a698e54a71" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProfitLoss"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_019d49bb-b429-7a38-973a-13a475c05ac7" xlink:to="loc_us-gaap_ProfitLoss_019d49bb-b429-77a8-bc21-c6a698e54a71" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TangibleAssetImpairmentCharges_019dfe53-9d1f-770f-a264-592fd5ab224d" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TangibleAssetImpairmentCharges"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_019d49bb-b429-7a38-973a-13a475c05ac7" xlink:to="loc_us-gaap_TangibleAssetImpairmentCharges_019dfe53-9d1f-770f-a264-592fd5ab224d" xlink:type="arc" order="7"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_CharterHireExpense_019e0837-2d81-7b1e-946f-40becc2b0466" xlink:href="panl-20260331.xsd#panl_CharterHireExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_019d49bb-b429-7a38-973a-13a475c05ac7" xlink:to="loc_panl_CharterHireExpense_019e0837-2d81-7b1e-946f-40becc2b0466" xlink:type="arc" order="8"/>
    <link:loc xlink:type="locator" xlink:label="loc_panl_VesselOperatingExpense_019e0837-2d81-7e38-b6ee-df209891b312" xlink:href="panl-20260331.xsd#panl_VesselOperatingExpense"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_019d49bb-b429-7a38-973a-13a475c05ac7" xlink:to="loc_panl_VesselOperatingExpense_019e0837-2d81-7e38-b6ee-df209891b312" xlink:type="arc" order="9"/>
  </link:definitionLink>
  <link:roleRef roleURI="http://www.pangaeals.com/role/SubsequentEventsDetails" xlink:type="simple" xlink:href="panl-20260331.xsd#SubsequentEventsDetails"/>
  <link:definitionLink xlink:role="http://www.pangaeals.com/role/SubsequentEventsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventLineItems_019d49bb-b429-7eee-a078-bff814273271" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTable_019d49bb-b429-7687-b7e4-cebc96d2b8dc" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_SubsequentEventLineItems_019d49bb-b429-7eee-a078-bff814273271" xlink:to="loc_us-gaap_SubsequentEventTable_019d49bb-b429-7687-b7e4-cebc96d2b8dc" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeAxis_019d49bb-b429-7e85-8569-c121c5830565" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventTypeAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_SubsequentEventTable_019d49bb-b429-7687-b7e4-cebc96d2b8dc" xlink:to="loc_us-gaap_SubsequentEventTypeAxis_019d49bb-b429-7e85-8569-c121c5830565" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeDomain_019d49bb-b429-7e85-8569-c121c5830565_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_SubsequentEventTypeAxis_019d49bb-b429-7e85-8569-c121c5830565" xlink:to="loc_us-gaap_SubsequentEventTypeDomain_019d49bb-b429-7e85-8569-c121c5830565_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeDomain_019d49bb-b429-7064-8d3f-73b3b952fc84" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventTypeDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_SubsequentEventTypeAxis_019d49bb-b429-7e85-8569-c121c5830565" xlink:to="loc_us-gaap_SubsequentEventTypeDomain_019d49bb-b429-7064-8d3f-73b3b952fc84" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventMember_019d49bb-b429-73db-8a6f-1de8abc8a52e" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SubsequentEventTypeDomain_019d49bb-b429-7064-8d3f-73b3b952fc84" xlink:to="loc_us-gaap_SubsequentEventMember_019d49bb-b429-73db-8a6f-1de8abc8a52e" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared_019d49bb-b429-7ca7-ad78-637aeffe459d" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockDividendsPerShareDeclared"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SubsequentEventLineItems_019d49bb-b429-7eee-a078-bff814273271" xlink:to="loc_us-gaap_CommonStockDividendsPerShareDeclared_019d49bb-b429-7ca7-ad78-637aeffe459d" xlink:type="arc" order="0"/>
  </link:definitionLink>
</link:linkbase>
