Pyxis Tankers (US:PXS)2025-08-08 13:30Financial Performance - Time charter equivalent revenues were $88 million, a 282% decrease compared to Q2 2024[6] - Net loss was $19 million, resulting in a loss per share of $019[6] - Adjusted EBITDA was $12 million, down from $8 million in Q2 2024[6] - MR2 tankers reported an average daily TCE of $20686, while bulkers reported $12840 in Q2 2025[6] - For Q3 2025, 91% of MR available days are booked at an estimated average TCE rate of $21600/day, and 66% of dry-bulk carrier days are booked at $15250/day[6] Market Conditions and Outlook - The product tanker sector faces constructive but moderating conditions due to slower economic activity and increased tanker supply[12, 14] - Global GDP growth is forecasted at approximately 3% for 2025 and 2026, impacting seaborne trade of refined products[14] - Major geopolitical events, such as the Russia-Ukraine war and Red Sea conflicts, continue to influence chartering activities and trade routes[15] - The introduction/expansion of trade restrictions, led by the U S, is developing, including the effects on the energy markets[15] Fleet and Strategy - Approximately 46% of the remaining days of 2025 are covered by existing charters[7] - The company is well-positioned for opportunistic fleet expansion with cash items and a Hunting License bank loan commitment of up to $45 million[6] MR2 Tanker Supply - The MR2 orderbook stood at 319 vessels as of June 1, 2025, representing 169% of the worldwide fleet[16] - An estimated annual net growth of 5-6% in 2025 is expected in MR2 supply[16]