Pyxis Tankers (US:PXS)2025-06-16 12:17Financial Performance - Time charter equivalent revenues were $84 million, a 174% decrease compared to Q1 2024[5] - Net income was $08 million, resulting in $007 EPS (basic and diluted)[5] - Adjusted EBITDA was $35 million, down $25 million from Q1 2024[5] Fleet and Chartering - In Q1 2025, the fleet TCE was $18,692, with MR2 tankers reporting an average daily TCE of $23,593 and bulkers at $13,013[5] - As of May 20, 2025, 100% of available MR days for Q2 were booked at an estimated average TCE rate of $21,600/day, and 62% of Q2 days for dry-bulk carriers were booked at an estimated average TCE rate of $12,300/day[5] - Approximately 38% of the remaining days of 2025 are covered by existing charters[6] Market Conditions and Outlook - Increasing pace of scheduled new build deliveries starting in the second half of the year through 2026 is expected to lead to significant supply growth, potentially offset by scrapping of older vessels[5] - Major regional conflicts have contributed to constructive chartering conditions worldwide, despite moderating cargo shipments[5] - The IMF lowered its forecast for annual global GDP growth to an average of 29% for 2025-26[12] - Drewry forecasts total dry bulk demand growth of 24% for 2025, with a compounded annual growth rate (CAGR) for 2024-30 of 25%[19]