Pyxis Tankers agrees to sell Pyxis Karteria tanker for $37 million
PXS•Pyxis Tankers agreed to sell its oldest vessel for $37 million, expecting a one-time gain of about $21 million, or $2.05 per share. Delivery is expected between November 20 and December 20, 2026.
1. Sale terms
Pyxis Tankers agreed to sell its oldest vessel, the Pyxis Karteria product tanker, to an unaffiliated buyer for $37 million. Delivery is expected between November 20 and December 20, 2026, with the gain expected to be recognized in the fourth quarter.
2. Proceeds and fleet plans
The sale is expected to generate a one-time gain of approximately $21 million, or $2.05 per share. Net cash proceeds are estimated at $25.9 million after repayment of approximately $10.7 million in vessel debt and transaction expenses. The company plans to use the proceeds to support fleet expansion and renewal, targeting younger vessels with more attractive purchase prices relative to expected earnings.
