Pyxis Tankers Inc. (NASDAQ: PXS)

Pyxis Tankers Inc., a company listed on the Nasdaq Capital Market under the ticker symbol PXS, is an international maritime transportation holding company that operates a fleet of mid-sized eco-efficient product tankers and dry-bulk carriers. The company was incorporated in 2015 and has its principal place of business in Athens, Greece. Pyxis Tankers generates revenue by charging customers a fee, typically called charter hire, for the use of its vessels.

The company's main business activities involve the operation of a diversified fleet of modern mid-sized eco-efficient product tankers and dry-bulk carriers. Pyxis Tankers operates in the international maritime transportation industry, with a strong presence in the product tanker and dry-bulk sectors. The company's fleet consists of three double-hull product tankers and two dry-bulk carriers, which are employed under a mix of spot and short-term time charters. The average age of the product tankers is 9.6 years, while the average age of the dry-bulk carriers is 8.0 years. All of the company's vessels are considered modern eco-efficient units with ballast water treatment systems installed, providing lower emissions and fuel consumption than older standard vessels.

Pyxis Tankers' product tankers are employed under a mix of spot and short-term time charters, providing a diversified revenue stream. The product tankers are operated by Maritime, a company that was formed in May 2007 by Pyxis Tankers' founder and CEO. Maritime provides ship management services, including commercial, technical, and administrative services, to Pyxis Tankers. The company's product tankers are equipped with ballast water treatment systems, which provide lower emissions and fuel consumption than older standard vessels. Pyxis Tankers' dry-bulk carriers are employed under short-term time charters, providing a flexible and opportunistic revenue stream. The dry-bulk carriers are operated by Konkar Agencies, a company that has been providing ship management services to the dry-bulk sector for over 50 years. Konkar Agencies provides technical and commercial ship management services to Pyxis Tankers, including crewing, maintenance, and chartering.

The company's competitive strengths include its high-quality fleet of modern eco-efficient vessels, established relationships with charterers, competitive cost structure, and experienced management team. Pyxis Tankers believes that its fleet of modern, quality vessels, combined with its management team's industry experience, will enable the company to benefit from short- and long-term trends in the tanker sector. The company competes for charters based on price and vessel location, size, age, and condition, as well as the acceptability of the vessel's operator to the charterer and its reputation. Pyxis Tankers has established relationships with a number of leading tanker charterers, including Trafigura, BP, Equinor, Total, Vitol, Shell, PMI, ST Shipping, Clearlake, Petrobras, and Valero, among others.

Pyxis Tankers' management team has over 100 years of combined industry experience, and the company's technical manager, ITM, has a strong reputation for providing high-quality technical vessel services. The company's business strategy is to operate a diversified fleet of modern mid-sized eco-efficient product tankers and dry-bulk carriers, opportunistically grow the fleet in a disciplined way, optimize the operating efficiency of its fleet, utilize a portfolio approach for commercial employment, and preserve a strong safety record and commitment to customer service and support.

Pyxis Tankers is committed to implementing and monitoring ESG practices throughout its organization. The company recognizes the importance of reducing its carbon footprint and is working to transition to the use of low-carbon fuels. Pyxis Tankers is also committed to good corporate governance standards and is a fully compliant, publicly-listed company in the U.S.