Pyxis Tankers Announces Two-Year Time Charter for Pyxis Lamda at $31,000 per Day
Key Highlights
- ➤Pyxis Lamda secures 24-month CITGO charter at $31,000 per day
- ➤New charter expected to generate approximately $21.8 million net revenue
- ➤Pyxis Lamda projected to generate approximately $7.7 million annualized EBITDA
- ➤Charter rate increases $8,000 daily, adding approximately $0.27 annualized EPS
- ➤Charter starts after scheduled special survey, following current charter’s November 20 expiration
Expert Statements
Eddie Valentis, Chairman and Chief Executive Officer of Pyxis Tankers
“This charter allows us to lock in an attractive rate for approximately two years, capturing the benefits of the current strong tanker market while increasing visibility into our future cash flows and earnings. We are pleased to extend our relationship with CITGO and secure employment for Pyxis Lamda immediately following her scheduled special survey.”
Maroussi, Greece – October 6, 2026 – Pyxis Tankers Inc. (Nasdaq Capital Market: PXS) (the “Company” or “Pyxis Tankers”), an international shipping company, announced today that it has agreed to a new time charter for its 2017-built MR product tanker Pyxis Lamda with CITGO Petroleum Corporation for 24 months, plus or minus 30 days at the charterer’s option, at a gross rate of $31,000 per day.
The vessel’s current charter is expected to expire on or about November 20, 2026. Pyxis Lamda will then undergo its scheduled special survey and drydocking. The new charter is expected to commence immediately after drydocking is completed and is expected to generate approximately $21.8 million in net charter revenue after 2.5% commissions over its term, assuming 720 revenue earning days.
Get started
Create a free account to read the full story.