The listed shipping company Pyxis Tankers, owned by shipowner Valentios Valentis, is steadily advancing with a focused investment strategy to enhance its fleet, based on the results for the second quarter of the year.
According to the announcement, the company’s management appears committed to cost management and maintaining strong cash reserves, estimating that the recovery in the oil and dry cargo transportation markets will offer opportunities for further growth.
As emphasized by the President and CEO of Pyxis Tankers, Valentios Valentis, there is moderate optimism for the rest of the year, underlining that there are encouraging signs in individual sectors of the freight market.
The company recorded net income of 9.2 million dollars in the second quarter of 2025, with the average time charter equivalent (TCE) standing at 8.8 million dollars, down 28.2% year-on-year.
Adjusted EBITDA stood at 1.2 million dollars, recording a drop of 6.8 million compared to last year. The main reasons were the decline in freight rates.
Indicatively, the MR tanker market showed weakness, with the average freight rate falling to 20,686/day – 37% lower than last year. Accordingly, dry bulk remained sluggish, with the company’s vessels earning an average TCE of 12,840/day, recording a drop of more than 42% compared to last year.
Despite the challenges, he pointed out that interest remains focused on new opportunities. With a new bank loan of 45 million dollars, the company is considering the acquisition of two new vessels by early 2027, maintaining strong liquidity and focusing its strategy on targeted expansion with vessels of modern specifications.
