Pyxis Tankers Announces Agreement to Acquire Modern Dry Bulk Vessel

Pyxis Tankers Inc., an international shipping company, announced that it has entered into a definitive agreement with an unaffiliated third party to purchase an 82,013 dwt dry bulk vessel built in 2015 at Jiangsu New Yangzi Shipbuilding. The eco-efficient Kamsarmax, fitted with a ballast water treatment system and scrubber, has a purchase price of $26.625 million which is expected to be funded by a combination of bank debt and cash. It is anticipated that the acquisition, which is subject to customary closing conditions, will be completed by February, 2024.

The Company currently owns a modern fleet of four product tankers engaged in seaborne transportation of refined petroleum products and other bulk liquids as well as a controlling interest in a single ship Ultramax dry bulk joint venture. The Company is positioned to opportunistically expand and maximize our fleet 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.