Pyxis Tankers (US:PXS)2022-11-15 01:26Financial Performance - Time charter equivalent revenues reached $12.0 million, a 248% increase compared to Q3 2021[6] - Net income was $5.3 million, resulting in an income per share of $0.48 basic and $0.42 diluted[6] - Adjusted EBITDA was $8.0 million, a $9.2 million increase from Q3 2021[6] - For Q3 2022, the daily TCE for MR2s was $29,062[6] Fleet and Employment - As of November 10th, 82% of available days for Q4 2022 were booked at an estimated average MR2 TCE rate of $36,800 per day[6] - Approximately 79% of the remaining days of 2022 are covered[8] - "Pyxis Lamda" is fixed on a time charter for 6 months at $40,000 per day[9] - "Pyxis Epsilon" is fixed on a time charter for 12 months at $30,000 per day[9] - "Pyxis Karteria" is fixed on a time charter for min 4, max 6 months at $30,000 per day[9] Market Dynamics - The EU ban on Russian refined products starting in early February 2023 could add an incremental 8% growth in vessel demand[12] - A leading research firm estimated demand growth in seaborne trade of refined products at 6% for 2023[15]