NASDAQ PXS 1.76 +0.05 +3.06%
Volume: 2,161 November 17, 2017

We are an emerging pure-play owner of a modern fleet of product tankers engaged in the seaborne transportation of refined petroleum products and other bulk liquids. We are focused on growing our fleet of medium range product tankers, which provide operational flexibility and enhanced earnings potential due to their “eco” features or modifications. We are well positioned to opportunistically expand and maximize our fleet due to our strong customer relationships, competitive cost structure and experienced management team and founder, whose interests are squarely aligned with other shareholders. Our common shares are listed on the NASDAQ Capital Markets under the trading symbol ‘PXS.’

Our fleet is comprised of six double hull product tankers with a weighted average age of 6.7 years (based on deadweight tonnage as of November 1, 2017) and that are employed under a mix of short- and medium-term time charters and spot charters. Four of the vessels in the fleet are medium-range, or MR, product tankers, three of which have eco-efficient or eco-modified designs, and two of which are short-range tanker sister ships. Each of the vessels in the fleet is capable of transporting refined petroleum products, such as naphtha, gasoline, jet fuel, kerosene, diesel and fuel oil, as well as other liquid bulk items, such as vegetable oils and organic chemicals.

Stable Cash Flow with Upside

Our chartering strategy is intended to provide stable, visible cash flows from time charters and upside opportunity through the spot market during periods of market strength.

Our streamlined operating structure allows management to minimize costs and focus on long term shareholder value.

Focused on Growth Opportunities

In conjunction with our listing on the NASDAQ Capital Markets, we acquired in a stock-for-stock based transaction six modern product tankers from an affiliate of our founder, Chief Executive Officer and majority shareholder. We also have the opportunity to acquire in the future one MR product tanker in a related-party transaction.

Our current fleet list can be found here.

NASDAQ PXS 1.76 +0.05 +3.06%
Volume: 2,161 November 17, 2017