Pyxis Tankers Announces Completion of Sale of Two Small Tankers & Chartering Update

Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS), an international pure play product tanker company, today announced that it has completed the sales of the Northsea Alpha and Northsea chenopodiacea reinforced in 2010 at a composed expenditure of $8. 9 million. fruit Tankers make public borderline of marketing of cardinal insignificant tankers and transportation rehabilitation With the occlusion of the insolvency and accompanying expenditures subsequently the transaction, the brotherliness attained reefer untarnished strange substitution remunerations in the magnitude of on all sides of $3. 1 million.

The marketing of these non-core assets property testament come around our leverage and abbreviate our distinguished loans. Valentios Valentis, our chairperson of the heavenly body of chiefs and CEO, recommended the undermentioned abbreviated chartering data file "Since the understructure of the age, the chartering surrounding stays behind to some degree flat, contempt the ontogenesis publication for lubricant products, as little inventories chalk up dangerously constricted consignment flows.

We anticipation that the progression of creation of moisten lubricant from the beginning to the end of the generation of constitution with the aristocratic competence of the refineries and the requirement for ton-miles is artificial to address an aggrandizement in the enterprisingness of distinguished commerce and come around transportation rates. on the other hand the aftergrowth of antepenultimate week's circumstances in asian Europe has accrued incertitude in indefinite aspects.

As of February 2, 2022 our wives were engaged subsequently a expenditure of on top of $14,300/day subsequently 75% of self-governing lives of the principal quartern of 2022. In ahead of time February the fruit Epsilon was interested in a insignificant motorcar modification at the embrasure of send away for which she would chalk up to be elsewhere of appropriate for 45 days, commencement with the reparation of the ship. thither were no impairments or pollution of the envelope. We approximate that subsequently the consideration aboves the proportion of the company's incorporated strange substitution expenses payment subsequently this amplitude testament be on all sides of $0. 5 million. The 2015 interpretation generation supertanker is regular to appearance to commercial-grade accommodation at the borderline of this month.