Business
Pyxis Tankers Announces Completion of Sale of Its 2009 Built Tanker
Maroussi, Greece, March 23, 2022 – Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS), (the “Company”), an international pure play product tanker company, today
About this update from Pyxis Tankers Inc.
[{"type":"text","content":"Maroussi, Greece, March 23, 2022 – Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS), (the “Company”), an international pure play product tanker company, today announced that it has completed the sale of the Pyxis Malou, a 2009 built 50,667 dwt product tanker, for the aggregate sale price of $24.8 million. After repayment of vessel’s bank debt and related transaction costs, the Company received aggregate net cash proceeds of approximately $18.9 million. The sale of the oldest vessel in the fleet will further increase our liquidity, reduce outstanding debt and position the Company for additional corporate opportunities. Moving forward, our fleet of eco-efficient MR2 product tankers will have an average age of 8 years and consist of the following vessels: Vessel NameShipyardVesseltypeCarrying Capacity(dwt)Year BuiltType of charterCharter Rate(1) (per day)Anticipated Earliest Redelivery Date Pyxis Lamda (2)SPP / S. KoreaMR50,1452017Time$ 40,000Apr 2023 Pyxis Epsilon (3)SPP / S. KoreaMR50,2952015Time 30,000Sep 2023 Pyxis Theta (4)SPP / S. KoreaMR51,7952013Time 18,500Jun 2023 Pyxis Karteria (5)Hyundai / S. KoreaMR46,6522013DD n/an/a 198,887 Charter rates are gross in U.S.$ and do not reflect any commissions payable.“Pyxis Lamda” is fixed on a time charter for 6 months, +/- 15 days at $40,000 per day. “Pyxis Epsilon” is fixed on a time charter for 12 months, +/- 30 days at $30,000 per day. “Pyxis Theta” is fixed on a time charter for min 120 days and max 180 days. 31-60 days at $18,500 per day, 61-120 days at $22,500 and 121-180 days at $26,000 per day.“Pyxis Karteria” is currently on scheduled Dry-Docking. Upon completion, the charterer has declared the option of additional charter of min 45 max 90 days at $30,000. About Pyxis Tankers Inc. We currently own a modern fleet of four tankers engaged in seaborne transportation of refined petroleum products and other bulk liquids. We are focused on prudently growing our fleet of medium range product tankers, which provide operational flexibility and enhanced earnings potential due to their \"eco\" features. We are positioned to opportunistically expand and maximize our fleet due to competitive cost structure, strong customer relationships and an experienced management team whose interests are aligned with those of its shareholders. For more information, visit: http://www.pyxistankers.com. The infor...