Pyxis Tankers has reported rising profit on the back of strong chartering markets in both segments in which it is active.
It recorded net income attributable to shareholders of $5m for the second quarter, up from $2.8m in the same period of last year.
This was mostly due to revenue rising by 46% year on year to $13.9m.
Average daily time charter equivalent rates for its three MR tankers, which are employed on short-term charters and in the spot market, rose by one-third to $32,868.
The two bulkers it owned in the period, the 82,000-dwt Konkar Asteri (built 2015) and 63,500-dwt Konkar Ormi (built 2016), earned an average of $22,333 per day.
“We anticipate the chartering environment for product tankers and dry bulk carriers to remain constructive for the near term,” said chief executive Valentios “Eddie” Valentis in an earnings release on Monday.
Pyxis, which recently expanded from MR product tankers to bulkers, reiterated that it is on the lookout for attractive tanker acquisitions.
Before doing that, however, the US-listed company expanded its bulker footprint.
As previously announced, its two bulkers were joined at the end of the second quarter by the 82,100-dwt Konkar Venture (built 2015).
Pyxis owns two of its three bulkers in cooperation with Valentis, who has a 40% stake in them.
All its three bulkers are on short-term time charters.
“Besides potential vessel acquisitions, we expect to continue to pursue additional value-enhancing transactions including the repurchase of additional common shares under our authorised programme, while maintaining operational and capital discipline,” Valentis said.
