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, our fleet of eco-efficient MR2 product tankers will have an average age of 8 years and consist of the following vessels:
1. Charter rates are gross in U.S.$ and do not reflect any commissions payable.
2. “Pyxis Lamda” is fixed on a time charter for 6 months, +/- 15 days at $40,000 per day.
3. “Pyxis Epsilon” is fixed on a time charter for 12 months, +/- 30 days at $30,000 per day.
4. “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.
5. “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.