Pyxis Tankers Inc. (NASDAQ: PXS)

Pyxis Tankers Inc. is an international maritime transportation company focused on mid-sized eco-vessels for the product tanker and dry-bulk sectors.

The company generates revenue by charging customers charter hire fees for the use of its vessels. Product tankers transport refined petroleum products and other liquid bulk items while dry-bulk vessels transport a broad range of dry-bulk commodities. Revenue is derived primarily from time charters and spot voyage charters under contractual arrangements with customers.

The company operates through the following segments: Product Tankers and Dry-Bulk.

• The Product Tankers segment operates a fleet of three eco-efficient MR tankers capable of transporting refined petroleum products such as naphtha gasoline jet fuel kerosene diesel and fuel oil as well as other liquid bulk items including vegetable oils and organic chemicals. As of March 23 2026 the segment s vessels had an average age of 11 6 years and a total cargo carrying capacity of 148 592 dwt.

• The Dry-Bulk segment operates a fleet of three vessels comprising one eco-Ultramax carrier and two eco-Kamsarmax carriers all equipped with scrubbers. These vessels transport a broad range of dry-bulk commodities. As of March 23 2026 the segment s vessels had an average age of 10 3 years.

Pyxis Tankers holds a competitive position in the maritime transportation industry through its modern eco-efficient fleet established relationships with major charterers and experienced management team. The company competes with other product tanker companies such as Scorpio Tankers Inc and Ardmore Shipping Corporation and dry-bulk companies including Globus Maritime Limited and Star Bulk Carriers Inc. Key advantages include a younger-than-average fleet fuel-efficient vessels with emissions-reducing technology and long-standing customer relationships with companies like Trafigura Shell and Vitol in tankers and Norden and Bunge in dry-bulk.

The company s customer base includes major integrated oil companies national oil companies refiners international commodity trading companies and large dry-bulk producers and traders. Significant customers accounting for over 10 of revenues in recent years have included P M I Trading Designated Activity Company Trafigura Maritime Logistics Pte Ltd Mansel ST Shipping Clearlake Shipping Pte Ltd and Chevron. Historical relationships also exist with Vitol Citgo Norden Bunge and Oldendorf.