Pyxis Tankers signs 2-year time charter for Pyxis Lamda at $31,000 a day
PXS•Pyxis Tankers signed a 24-month time charter for the Pyxis Lamda with CITGO at a gross rate of $31,000 per day. Net charter revenue is projected at about $21.8 million over the term, with annualized contribution estimated at $7.7 million in EBITDA and $0.51 per common share.
1. Charter details
The 24-month charter for the MR product tanker Pyxis Lamda is expected to start after a special survey and drydocking, following expiry of its current charter on or about Nov. 20, 2026. The $31,000 daily rate is $8,000 above the current charter.
2. Projected contribution
Pyxis Tankers projects about $21.8 million in net charter revenue over the term, assuming 720 revenue-earning days and 2.5% commissions. The company estimates the higher rate will add about $2.8 million in annualized revenue after commissions, with annualized contribution of about $7.7 million in EBITDA, $5.2 million in net income, or $0.51 per common share.
