Pyxis Tankers Announces Updates on Loan Agreements, Common Share Repurchase Program & Chartering Activity

Core Viewpoint - Pyxis Tankers Inc. has announced significant updates regarding its loan refinancings, shareholder activities, and chartering arrangements, which are expected to strengthen its financial position and support future growth initiatives. Loan Updates - The company refinanced existing secured loans with Alpha Bank S.A. for a total of $33.35 million, with a maturity of 5 years and a reduced interest rate of Term SOFR plus a margin of 1.90% [8] - Amendments to loans with Piraeus Bank S.A. for a total of $42.1 million were completed, extending maturities by six months and reducing the interest rate to Term SOFR + 1.80%, resulting in a margin savings of 58 basis points [8] Financial Position - The company has increased its cash position by $10 million, bringing unrestricted cash to approximately $52 million, along with a loan commitment of up to $45 million for potential fleet expansion [4] - A common share repurchase program has been initiated, with $0.3 million spent to acquire 115,873 shares at an average price of $2.94 per share, leaving $2.7 million remaining under the program [8] Fleet and Chartering - The fleet consists of six eco-vessels, including three MR product tankers and two Kamsarmax bulk carriers, with a focus on expanding the fleet opportunistically [6] - Current bookings for the first quarter of 2026 show that 73% of available days for MR product tankers are booked at an average estimated daily time charter equivalent rate of $23,100 per vessel, while 27% of available days for dry bulkers are booked at $12,000 [8] Market Conditions - Market conditions for both product tankers and dry bulk sectors remain reasonably healthy despite some seasonal softness, influenced by geopolitical developments [5]