Pyxis Tankers expecting strong product tanker demand through 2024
–News Direct–
Pyxis Tankers Inc (NASDAQ:PXS) chairman and CEO Valentios (Eddie) Valentis speaks to Thomas Warner from Proactive about how the tanker operator has been performing since his last Proactive appearance in April.
Valentis gives an overview of the results from the six months to 30 June, highlighting revenues of approximately $17.8 million, adjusted EBITDA of $9.4 million, and fully diluted earnings per share of $0.94. The performance was driven by a high daily charter rate of over $24,000 and utilization at around 94%.
The sale of their oldest tanker in March bolstered their cash position to over $34 million, with net funded debt at less than 19% of total capitalization at the end of the reporting period. He explains that Pyxis also made strides in asset diversification by enter...
