Pyxis Tankers closes modern dry bulk vessel acquisition, commercial update

Pyxis Tankers announced that it has completed the acquisition of an 82,013 dwt dry bulk vessel built in 2015 at Jiangsu New Yangzi Shipbuilding. The $26.625 million purchase of the eco-efficient Kamsarmax, fitted with a ballast water treatment system and scrubber, was funded by a combination of secured bank debt of $14.5 million and cash on hand. “In addition, Valentios Valentis, our Chairman and CEO, provided the following brief commercial update: “As previously disclosed, we completed the sale of our 2015 built product tanker, the “Pyxis Epsilon”, in Mid-December, 2023 and at year-end, the Company was operating three medium range product tankers. For the fourth quarter of 2023, we expect to report a preliminary daily average time charter equivalent charter rate of approximately $30,500 per MR. The product tanker chartering environment continues to be constructive, especially given recent geo-political events. As of February 15, 2024, 75% of the available days in the first quarter of 2024 for our MR’s were booked at an estimated average TCE of $29,200 per vessel. Two of our MRs continue to operate under time charters and one MR in the spot market.”