Pyxis Tankers Announces Completion of Sale of Its 2009 Built Tanker

Pyxis Tankers Inc., an international pure play product tanker company, 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, the fleet of eco-efficient MR2 product tankers will have an average age of 8 years and consist of the following vessels:

Vessel Name Shipyard Vessel
type Carrying
Capacity
(dwt) Year Built Type of charter Charter Rate(1)
(per day) Anticipated Earliest Redelivery Date

Pyxis Lamda (2) SPP / S. Korea MR 50,145 2017 Time $ 40,000 Apr 2023
Pyxis Epsilon (3) SPP / S. Korea MR 50,295 2015 Time 30,000 Sep 2023
Pyxis Theta (4) SPP / S. Korea MR 51,795 2013 Time 18,500 Jun 2023
Pyxis Karteria (5) Hyundai / S. Korea MR 46,652 2013 DD n/a n/a

198 , 887

The company currently owns a modern fleet of four tankers engaged in seaborne transportation of refined petroleum products and other bulk liquids. It's focused on prudently growing its fleet of medium range product tankers, which provide operational flexibility and enhanced earnings potential due to their “eco” features. Pyxis is positioned to opportunistically expand and maximize its fleet due to competitive cost structure, strong customer relationships and an experienced management team whose interests are aligned with those of its shareholders.