Pyxis Tankers Announces Financial Results for the Three Months Ended March 31, 2026
Rhea-AI Summary
Pyxis Tankers (Nasdaq:PXS) reported unaudited Q1 2026 results with revenue of $10.0 million, up from $9.6 million in Q1 2025. TCE revenues reached $9.9 million, an 18.2% increase. Net income rose to $2.4 million, or $0.23 per share, versus $0.8 million, or $0.07, a year earlier. Adjusted EBITDA was $5.4 million, up $1.9 million. The company highlighted higher TCE rates, better utilization, and lower operating expenses per day. Liquidity approaches $100 million, including $54.4 million of cash, cash equivalents and time deposits plus a $45 million “Hunting License” loan facility. One MR tanker, Pyxis Karteria, operates safely in the Persian Gulf on a fixed-rate time charter through August 2026. Management acknowledges elevated macroeconomic and geopolitical risks but views product tanker market fundamentals as constructive.
Positive
- Q1 2026 revenue increased to $10.0 million from $9.6 million
- TCE revenues $9.9 million, up $1.5 million or 18.2% year-over-year
- Net income rose to $2.4 million from $0.8 million year-over-year
- EPS increased to $0.23 from $0.07 per common share
- Adjusted EBITDA grew to $5.4 million, up $1.9 million year-over-year
- Cash, cash equivalents and time deposits reached $54.4 million at March 31, 2026
- Total available liquidity approaches $100 million including $45 million loan facility
- Fleet achieved higher TCE rates, improved utilization and lower operating expenses per day
Negative
- Company cites elevated macroeconomic and geopolitical risks affecting global shipping markets
- One MR tanker operates in the Persian Gulf amid an evolving Middle East situation
News Market Reaction – PXS
In the May 19 session, PXS gained 3.46%, reflecting a moderate positive market reaction. Argus tracked a peak move of +2.2% during that session. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 05 | Quarter & year results | Positive | -6.9% | Reported profitable Q4 2025 and strong FY 2025 with refinancing benefits. |
| Nov 20 | Quarterly results | Positive | +8.8% | Q3 2025 profits and buyback authorization despite softer TCE and EBITDA. |
| Aug 08 | Quarterly results | Negative | -11.0% | Q2 2025 revenues and TCE rates fell sharply, leading to a net loss. |
| May 21 | Quarterly results | Negative | -1.9% | Q1 2025 showed declining revenues and EBITDA with cautious market outlook. |
| Mar 13 | Quarter & year results | Neutral | +0.0% | Q4 2024 revenue decline but positive adjusted income and capital actions. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases have often been met with mild pressure (average move -2.2%), including at least one case where solid results saw a negative reaction, but most outcomes generally aligned with the underlying tone of the report.
Over the past year, Pyxis Tankers has reported a mix of strong and challenging quarters. Prior earnings on Mar 5, 2026 highlighted solid Q4 2025 profitability and refinancing activity, while earlier 2025 quarters showed revenue volatility and margin pressure. Despite this, the company maintained access to a $45M facility and executed buybacks. Today’s Q1 2026 update with higher revenues, stronger net income and improved adjusted EBITDA fits into a narrative of operational recovery and balance sheet focused discipline.
Key Terms
time charter equivalent technical
adjusted ebitda financial
time charter technical
ton-mile technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Maroussi, Greece, May 18, 2026 – Pyxis Tankers Inc. (Nasdaq Cap Mkts: PXS), (the “Company”, “we”, “our”, “us” or “Pyxis Tankers”), an international diversified shipping company, today announced unaudited results for the three months ended March 31, 2026.
For the three months ended March 31, 2026, our revenues, net, were
Our Chairman & CEO, Valentios Valentis, commented:
Strong quarterly results supported by disciplined execution and favorable market conditions
“We are pleased to report another strong quarter, driven by robust market conditions, disciplined commercial execution, and the quality of our fleet and operating platform. For the quarter ended March 31, 2026, our fleet achieved higher TCE rates, improved utilization, and lower operating expenses per day.
Our operating performance continues to be supported by evolving global energy trade flows, longer-haul transportation demand, and elevated ton-mile activity, particularly across Atlantic Basin routes. In this environment, we remain focused on maintaining a strong balance sheet and a disciplined capital allocation framework while preserving flexibility to pursue accretive growth opportunities. As of March 31, 2026, our cash and cash equivalents and short term investment in time deposits increased to
Given our strong liquidity position, we continue to evaluate prudent capital deployment opportunities across selective fleet growth, balance sheet optimization, and opportunistic share repurchases.
We continue to actively monitor the evolving situation in the Middle East and assess the potential implications for global shipping markets. One of our MR tankers, the Pyxis Karteria, currently operates in the Persian Gulf and remains safe and employed under an existing fixed-rate time charter through August 2026. The safety of our crews and vessels remains our primary consideration.
Looking ahead, while macroeconomic and geopolitical risks remain elevated, we believe shipping market fundamentals remain constructive, supported by longer-haul trade patterns, constrained fleet growth, and ongoing supply-chain inefficiencies. As certain existing time charters expire during the coming quarters, we believe current market conditions may provide opportunities to secure renewed employment at improved rates for portions of our fleet. We remain focused on disciplined execution, prudent risk management, and long-term shareholder value creation.”
Forward Fixture Update
As of May 15, 2026, our MR tanker fleet had secured employment at an average estimated TCE rate of approximately
Results for the three months ended March 31, 2026 and 2025
Amounts referenced in period–to–period comparisons in this section are derived from the unaudited consolidated financial statements presented below.
For the three months ended March 31, 2026, we reported revenues, net, of
| Tanker fleet (Amounts in thousands of U.S. dollars, except for daily TCE rates | Three months ended March 31, 1 | ||||
| which are presented in U.S. dollars per day) | 2025 | 2026 | |||
| MR Revenues, net | $ | 6,433 | 5,866 | ||
| MR Voyage related costs and commissions, net | (747) | (789) | |||
| MR Time Charter Equivalent revenues 1 | $ | 5,686 | 5,077 | ||
| MR Total operating days | 241 | 268 | |||
| MR Daily Time Charter Equivalent rate 1 | $/d | 23,593 | 18,944 | ||
| Average number of MR vessels | 3.0 | 3.0 | |||
| Dry-bulk fleet (Amounts in thousands of U.S. dollars, except for daily TCE rates | Three months ended March 31, 1 | ||||
| which are presented in U.S. dollars per day) | 2025 | 2026 | |||
| Dry-bulk Revenues, net | $ | 3,172 | 4,110 | ||
| Dry-bulk Voyage related costs and commissions, net | (465) | 731 | |||
| Dry-bulk Time Charter Equivalent revenues 1 | $ | 2,707 | 4,841 | ||
| Dry-bulk Total operating days | 208 | 247 | |||
| Dry-bulk Daily Time Charter Equivalent rate 1 | $/d | 13,013 | 19,601 | ||
| Average number of Dry-bulk vessels | 3.0 | 3.0 | |||
| Total fleet (Amounts in thousands of U.S. dollars, except for daily TCE rates | Three months ended March 31, 1 | ||||
| which are presented in U.S. dollars per day) | 2025 | 2026 | |||
| Revenues, net | $ | 9,605 | 9,976 | ||
| Voyage related costs and commissions, net | (1,212) | (58) | |||
| Time Charter Equivalent revenues 1 | $ | 8,393 | 9,918 | ||
| Total operating days | 449 | 515 | |||
| Daily Time Charter Equivalent rate 1 | $/d | 18,692 | 19,259 | ||
| Average number of vessels | 6.0 | 6.0 | |||
1 Subject to rounding; please see “Non-GAAP Measures and Definitions” below.
Management’s Discussion & Analysis of Financial Results for the Three Months Ended March 31, 2026 and 2025 (Amounts presented in millions of U.S. dollars, rounded to the nearest one hundred thousand, unless otherwise noted)
Amounts referenced in period–to–period comparisons in this section are derived from the unaudited consolidated financial statements presented below.
Revenues, net: Revenues, net, were
Voyage related costs and commissions, net: Voyage related costs and commissions, net, of
Vessel operating expenses: Vessel operating expenses were
General and administrative expenses: General and administrative expenses of
Management fees: For the three months ended March 31, 2026, management fees charged by Maritime and Konkar Shipping Agencies S.A. (“Konkar Agencies”), our dry-bulk ship manager, both affiliates of Mr. Valentis, our Chairman and Chief Executive Officer, and by International Tanker Management Ltd. (“ITM”), the unaffiliated technical manager of our MRs, remained stable at
Amortization of special survey costs: Amortization of special survey costs of
Depreciation: Depreciation of
Interest and finance costs: Interest and finance costs for the quarter ended March 31, 2026 were
Interest income: Interest income of
Loss/(Income) attributable to non-controlling interests: Income attributable to the non-controlling interest holders (the “NCI”) for the quarter ended March 31, 2026, was
Unaudited Consolidated Statements of Comprehensive Income
For the three months ended March 31, 2025 and 2026
(Expressed in thousands of U.S. dollars, except for share and per share data)
| Three months ended March 31, | ||||
| 2025 | 2026 | |||
| Revenues, net | $ | 9,605 | $ | 9,976 |
| Expenses: | ||||
| Voyage related costs and commissions, net | (1,212) | (58) | ||
| Vessel operating expenses | (3,573) | (3,330) | ||
| General and administrative expenses | (833) | (712) | ||
| Management fees, related parties | (341) | (350) | ||
| Management fees, other | (126) | (132) | ||
| Amortization of special survey costs | (97) | (168) | ||
| Depreciation | (1,863) | (1,869) | ||
| Operating income | 1,560 | 3,357 | ||
| Other expenses, net: | ||||
| Interest and finance costs | (1,477) | (1,329) | ||
| Interest income | 434 | 497 | ||
| Total other expenses, net | (1,043) | (832) | ||
| Net income | $ | 517 | $ | 2,525 |
| Loss/(Income) attributable to non-controlling interests | 249 | (103) | ||
| Net income attributable to common shareholders | $ | 766 | $ | 2,422 |
| Net income per common share, basic | $ | 0.07 | $ | 0.23 |
| Net income per common share, diluted | $ | 0.07 | $ | 0.23 |
| Weighted average number of common shares, basic | 10,422,515 | 10,339,746 | ||
| Weighted average number of common shares, diluted | 10,422,515 | 10,339,746 | ||
Unaudited Consolidated Balance Sheets
As of December 31, 2025 and March 31, 2026
(Expressed in thousands of U.S. dollars, except for share and per share data)
| December 31, | March 31, | |||
| 2025 | 2026 | |||
| ASSETS | ||||
| CURRENT ASSETS: | ||||
| Cash and cash equivalents | $ 35,555 | $ 26,377 | ||
| Short-term investment in time deposits | 18,000 | 28,000 | ||
| Inventories | 536 | 501 | ||
| Trade accounts receivable, net | 2,007 | 3,058 | ||
| Prepayments and other current assets | 552 | 1,064 | ||
| Total current assets | 56,650 | 59,000 | ||
| FIXED ASSETS, NET: | ||||
| Vessels, net | 133,319 | 131,462 | ||
| Total fixed assets, net | 133,319 | 131,462 | ||
| OTHER NON-CURRENT ASSETS: | ||||
| Restricted cash | 1,350 | 1,350 | ||
| Deferred dry-dock and special survey costs, net | 2,093 | 1,925 | ||
| Total other non-current assets | 3,443 | 3,275 | ||
| Total assets | $ 193,412 | $ 193,737 | ||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
| CURRENT LIABILITIES: | ||||
| Current portion of long-term debt, net of deferred financing costs | $ 7,967 | $ 7,959 | ||
| Trade accounts payable | 1,495 | 650 | ||
| Due to related parties | 1,685 | 1,002 | ||
| Hire collected in advance | 597 | 1,712 | ||
| Deferred charter hire revenue | — | 147 | ||
| Accrued and other liabilities | 1,000 | 1,562 | ||
| Total current liabilities | 12,744 | 13,032 | ||
| NON-CURRENT LIABILITIES: | ||||
| Long-term debt, net of current portion and deferred financing costs | 79,279 | 77,209 | ||
| Deferred charter hire revenue, non-current | — | 168 | ||
| Total non-current liabilities | 79,279 | 77,377 | ||
| STOCKHOLDERS' EQUITY: | ||||
| Preferred stock ( | ||||
| Common stock ( | 10 | 10 | ||
| Additional paid-in capital | 97,826 | 97,240 | ||
| Accumulated deficit | (2,676) | (254) | ||
| Total equity attributable to Pyxis Tankers Inc. and subsidiaries | 95,160 | 96,996 | ||
| Non-controlling interest | 6,229 | 6,332 | ||
| Total stockholders' equity | 101,389 | 103,328 | ||
| Total liabilities and stockholders' equity | $ 193,412 | $ 193,737 |
Unaudited Consolidated Statements of Cash Flows
For the three months ended March 31, 2025 and 2026
(Expressed in thousands of U.S. dollars)
| Three months ended March 31, | ||||
| 2025 | 2026 | |||
| Cash flows from operating activities: | ||||
| Net income | $ | 517 | $ | 2,525 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation | 1,863 | 1,869 | ||
| Amortization of special survey costs | 97 | 168 | ||
| Amortization and write-off of deferred financing costs | 61 | 55 | ||
| Amortization of restricted common stock grants | 71 | — | ||
| Changes in assets and liabilities: | ||||
| Inventories | 604 | 35 | ||
| Due to related parties | 314 | (683) | ||
| Trade accounts receivable | 305 | (1,051) | ||
| Prepayments and other current assets | (55) | (512) | ||
| Insurance claims receivable | (1) | — | ||
| Deferred dry-dock and special survey costs | (295) | (21) | ||
| Trade accounts payable | 144 | (824) | ||
| Hire collected in advance | 602 | 1,115 | ||
| Accrued and other liabilities and deferred charter hire revenue, current and non-current | 52 | 877 | ||
| Net cash provided by operating activities | $ | 4,279 | $ | 3,553 |
| Cash flows from investing activities: | ||||
| Vessel additions | (112) | (12) | ||
| Short-term investment in time deposits | — | (10,000) | ||
| Net cash used in investing activities | $ | (112) | $ | (10,012) |
| Cash flows from financing activities: | ||||
| Repayment of long-term debt | (1,947) | (2,040) | ||
| Payment of financing costs | — | (93) | ||
| Common stock repurchases | (270) | (586) | ||
| Net cash used in financing activities | $ | (2,217) | $ | (2,719) |
| Net increase/(decrease) in cash and cash equivalents and restricted cash | 1,950 | (9,178) | ||
| Cash and cash equivalents and restricted cash at the beginning of the period | 22,593 | 36,905 | ||
| Cash and cash equivalents and restricted cash at the end of the period | $ | 24,543 | $ | 27,727 |
| SUPPLEMENTAL INFORMATION: | ||||
| Cash paid for interest | $ | 1,499 | $ | 1,132 |
| Unpaid portion of special survey cost | 460 | — | ||
| Unpaid portion of vessel additions | 49 | — | ||
Liquidity, Debt and Capital Structure
Our total funded debt, net of deferred financing costs, as of March 31, 2026 was
| (Amounts in thousands of U.S. dollars) | December 31, 2025 | March 31, 2026 | ||
| Total funded debt, net of deferred financing costs | $ | 87,246 | 85,168 |
Our weighted average interest rate on our total funded debt for the three months ended March 31, 2026 was
On January 26, 2026, we completed amendments to certain existing secured loans with Piraeus Bank S.A. for the Tenthone Corp. (the “Pyxis Karteria”), the Dryone Corp. (the “Konkar Ormi”) and the Drythree Corp. (the “Konkar Venture”), with aggregate outstanding principal borrowings of
On March 31, 2026, we had a total of 11,215,546 common shares issued and 10,256,639 common shares outstanding, of which Mr. Valentis, our CEO and Chairman, beneficially owned
Subsequent Events
Subsequent to March 31, 2026 and through May 15, 2026, we repurchased an additional 17,445 common shares for approximately
Updates to the Board of Directors
At the scheduled 2026 annual shareholder meeting on May 14, 2026, the Company’s shareholders re-elected Mr. Robin P. Das and Mr. Basil G. Mavroleon as Class III Directors to serve for a term of three years until the 2029 annual meeting.
Mr. Mavroleon thereafter provided his resignation as a director of the Company effective May 18, 2026. Mr. Mavroleon’s decision to resign was for personal reasons and was not related to any disagreement with the Company on any matter relating to its operations, policies or practices. The Company will commence a search process for a suitable replacement to fill the vacancy on the board of directors in due course.
Non-GAAP Measures and Definitions
Earnings before interest, taxes, depreciation and amortization (“EBITDA”) represents the sum of net income, interest and finance costs, depreciation and amortization, and income taxes, if any, during a period. Adjusted EBITDA represents EBITDA as adjusted to exclude certain items that may not be indicative of our core operating performance in a given period, such as interest income, loss on debt extinguishment, gain or loss on financial derivative instruments, and gain or loss on sale of vessels. Such items may have occurred in the periods presented and may occur in future periods and, accordingly, may vary over time and may not recur. EBITDA and adjusted EBITDA are not measures recognized under U.S. GAAP.
EBITDA and Adjusted EBITDA are presented in this press release as we believe that they provide investors with a means of evaluating and understanding how our management evaluates operating performance. We also believe these non-GAAP measures are useful to management and investors because they highlight trends in our core operating performance and facilitate comparisons of our operating results across periods by excluding the impact of certain items that management does not consider indicative of our ongoing operating performance. Management uses EBITDA and Adjusted EBITDA, among other things, to evaluate the performance of our core operations, to assist in financial and operational decision-making, in preparing our annual operating budgets and forecasts and, in certain cases, in evaluating management performance for compensation purposes. These non-GAAP measures have limitations as analytical tools, and should not be considered in isolation or as a substitute for, or superior to financial measures prepared in accordance with U.S. GAAP. EBITDA and Adjusted EBITDA do not reflect:
- our cash expenditures, or future requirements for capital expenditures or contractual commitments;
- changes in, or cash requirements for, our working capital needs; and
- cash requirements necessary to service interest and principal payments on our funded debt.
In addition, these non-GAAP measures do not have standardized meanings and are therefore unlikely to be comparable to similar measures presented by other companies. The following table reconciles net income, as reflected in the Unaudited Consolidated Statements of Comprehensive Income, to EBITDA and Adjusted EBITDA:
| Reconciliation of net income to EBITDA and adjusted EBITDA | Three months ended March 31, | ||||
| (Amounts in thousands of U.S. dollars) | 2025 | 2026 | |||
| Net income | $ | 517 | $ | 2,525 | |
| Depreciation | 1,863 | 1,869 | |||
| Amortization of special survey costs | 97 | 168 | |||
| Interest and finance costs | 1,477 | 1,329 | |||
| EBITDA | $ | 3,954 | $ | 5,891 | |
| Interest income | (434) | (497) | |||
| Adjusted EBITDA | $ | 3,520 | $ | 5,394 | |
Daily TCE is a shipping industry performance measure of the average daily revenue performance of a vessel during the relevant period. We utilize daily TCE because we believe it is a meaningful measure to compare period-to-period changes in our performance despite changes in the mix of charter types (i.e., spot charters and time charters) under which our vessels may be employed between the periods. We also believe that TCE Revenues and daily TCE provide useful information to investors because they reflect the revenue we retain from voyages after deducting voyage related costs and commissions, net, thereby facilitating comparisons of our revenue performance across periods and against other companies, irrespective of differences in charter types, trading patterns and voyage expenses. Our management also utilizes daily TCE to assist them in making decisions regarding the employment of our vessels. TCE Revenues are calculated as revenues, net, less voyage related costs and commissions, net. We calculate daily TCE by dividing TCE Revenues by operating days for the relevant period. Voyage related costs and commissions, net, primarily consist of brokerage commissions, port, canal and fuel costs that are unique to a particular voyage, net of related credits or recoveries, including bunker price differentials realized upon charter redeliveries and deliveries. Port, canal and fuel costs would otherwise typically be paid by the charterer under a time charter contract. TCE Revenues and daily TCE are not recognized measures under U.S. GAAP.
Vessel operating expenses (“Opex”) represent the costs we incur to operate our vessels, which primarily consist of crew wages and related costs, insurance, lube oils, communications, spares and consumables, tonnage taxes, as well as repairs and maintenance. Opex per day represents vessel operating expenses divided by ownership days in the applicable period. We monitor both total Opex and Opex per day to assess and compare the underlying operating cost efficiency of our fleet across periods and vessels.
We calculate utilization (“Utilization”) by dividing the number of operating days during a period by the number of available days during the same period. We use fleet utilization to measure our efficiency in finding suitable employment for our vessels and minimizing the number of days that our vessels are off-hire for reasons other than scheduled repairs or repairs under guarantee, vessel upgrades, special surveys, intermediate dry-dockings or vessel positioning for such reasons. Ownership days are the total number of days in a period during which we owned each of the vessels in our fleet. Available days are the number of ownership days in a period, less the aggregate number of days that our vessels were off-hire due to scheduled repairs or repairs under guarantee, vessel upgrades, special surveys or intermediate dry-dockings, and the aggregate number of days that we spent positioning our vessels during the respective period for such repairs, upgrades and surveys. Operating days are the number of available days in a period, less the aggregate number of days that our vessels were off-hire or out of service due to any reason, including technical breakdowns and unforeseen circumstances.
EBITDA, Adjusted EBITDA, Opex per day and daily TCE are not recognized measures under U.S. GAAP and should not be regarded as substitutes for Revenues, net, Net income. Our presentation of EBITDA, Adjusted EBITDA, Opex per day and daily TCE does not imply, and should not be construed as implying, that our future results will be unaffected by unusual or non-recurring items and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with U.S. GAAP.
| (Amounts in U.S. dollars per day) | Three months ended March 31, | ||||
| 2025 | 2026 | ||||
| Tanker Fleet: | |||||
| Eco-Efficient MR2 | |||||
| Daily TCE : | 23,593 | 18,944 | |||
| Opex per day: | 7,322 | 7,413 | |||
| Utilization % : | |||||
| Average number of MR vessels * | 3.0 | 3.0 | |||
| Dry-bulk Fleet: | |||||
| Daily TCE : | 13,013 | 19,601 | |||
| Opex per day: | 5,911 | 4,943 | |||
| Utilization % : | |||||
| Average number of Dry-bulk vessels * | 3.0 | 3.0 | |||
| Total Fleet: | |||||
| Daily TCE : | 18,692 | 19,259 | |||
| Opex per day: | 6,616 | 6,178 | |||
| Utilization % : | |||||
| Average number of vessels * | 6.0 | 6.0 | |||
As of May 15, 2026, our fleet consisted of three eco-efficient MR2 tankers, “Pyxis Lamda”, “Pyxis Theta”, “Pyxis Karteria”, and three dry-bulk vessels, “Konkar Ormi”, “Konkar Asteri” and “Konkar Venture”. During 2025 and 2026, our vessels were employed under a mix of time charters and spot voyage charters.
Company Presentation
A presentation of our results is available on our website (https://www.pyxistankers.com). However, none of the information contained on our website is incorporated into or forms a part of this report.
Pyxis Tankers Fleet (as of May 15, 2026)
| Vessel Name | Shipyard | Vessel type | Carrying Capacity (dwt) | Year Built | Type of charter | Charter(1) Rate ($ per day) | Estimated Redelivery Date | |
| Tanker fleet | ||||||||
| Pyxis Lamda (2) | SPP / S. Korea | MR2 | 50,145 | 2017 | Time | 23,000 | Sep 2026 – Dec 2026 | |
| Pyxis Theta (3) | SPP / S. Korea | MR2 | 51,795 | 2013 | Time | 23,750 | Jul 2027 – Sep 2027 | |
| Pyxis Karteria (4) | Hyundai / S. Korea | MR2 | 46,652 | 2013 | Time | 19,500 | Aug 2026 – Nov 2026 | |
| 148,592 | ||||||||
| Dry-bulk fleet | ||||||||
| Konkar Ormi (5) | SKD / Japan | Ultramax | 63,520 | 2016 | Time | 25,700 | May 2026 | |
| Konkar Asteri (6) | JNYS / China | Kamsarmax | 82,013 | 2015 | Time | 20,500 | May 2026 | |
| Konkar Venture (7) | JNYS / China | Kamsarmax | 82,099 | 2015 | Time | 24,000 | May 2026 | |
| 227,632 |
1) These tables present gross rates in U.S.$ and do not reflect any commissions payable.
2) “Pyxis Lamda” is fixed on a time charter for 12 months -40/+60 days, at
3) “Pyxis Theta” is fixed on a time charter for 18 months -30/+30 days, at
4) “Pyxis Karteria” is fixed on a time charter for 12 months -30/+60 days, at
5) “Konkar Ormi” is fixed on a time charter for 20–25 days, at
6) “Konkar Asteri” is fixed on a time charter for 55–65 days, at
7) “Konkar Venture” is fixed on a time charter for 20–25 days, at
About Pyxis Tankers Inc.
The Company currently owns a modern fleet of six mid-sized eco-vessels, which are engaged in the seaborne transportation of a broad range of refined petroleum products and dry-bulk commodities and consists of three MR product tankers, one Kamsarmax bulk carrier and controlling interests in two dry-bulk joint ventures of a sister-ship Kamsarmax and an Ultramax. The Company is positioned to opportunistically expand and maximize its fleet of eco-efficient vessels due to significant capital resources, competitive cost structure, strong customer relationships and an experienced management team whose interests are aligned with those of its shareholders. For more information, visit: https://www.pyxistankers.com. The information on or accessible through the Company’s website is not incorporated into and does not form a part of this release.
Forward Looking Statements
This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995 in order to encourage companies to provide prospective information about their business. These statements include statements about our plans, strategies, goals, financial performance, prospects or future events or performance and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expects,” “seeks,” “predict,” “schedule,” “projects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “targets,” “continue,” “contemplate,” “possible,” “likely,” “might,” “will,” “should,” “would,” “potential,” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. All statements that are not statements of either historical or current facts, including among other things, our expected financial performance, expectations or objectives regarding future and market charter rate expectations and, in particular, the effects of the war in Ukraine and the conflicts in the Middle East and the Red Sea region, on our financial condition and operations as well as the nature of the product tanker and dry-bulk industries, in general, are forward-looking statements. Such forward-looking statements are necessarily based upon estimates and assumptions. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. The Company’s actual results may differ, possibly materially, from those anticipated in these forward-looking statements as a result of certain factors, including changes in the Company’s financial resources and operational capabilities and as a result of certain other factors listed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. The Company is reliant on certain independent and affiliated managers for its operations, including most recently an affiliated private company, Konkar Shipping Agencies, S.A., for the management of its dry-bulk vessels. For more information about risks and uncertainties associated with our business, please refer to our filings with the U.S. Securities and Exchange Commission, including, without limitation, under the caption “Risk Factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2025. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any information in this press release, including forward-looking statements, to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws.
Company
Pyxis Tankers Inc.
59 K. Karamanli Street
Maroussi, 15125 Greece
info@pyxistankers.com
Visit our website at https://www.pyxistankers.com
Company Contact
Fotis Giannakoulis
Chief Financial Officer
Tel: +30 (210) 638 0200
Email: ir@pyxistankers.com
