Pyxis Tankers reported that net revenues increased to $10 million for the three months ended March 31, 2026, up from $9.6 million in the same period of 2025.
The Greece-based shipping company reported that net income for the period rose to $2.4 million from $0.8 million in the previous year.
Adjusted EBITDA grew by $1.9 million to reach $5.4 million during the first quarter. This performance was supported by strengthening conditions in the dry-bulk market, where average daily rates for those vessels rose by over 50 per cent to $19,601.
Conversely, average daily rates for the medium-range tanker fleet declined to $18,944 due to softening charter rates in the product tanker sector. Overall fleet utilisation improved during the quarter, rising to 95.4 per cent compared to 88.7 per cent in the prior year.
While macroeconomic and geopolitical risks remain elevated, Chief Executive Officer Valentios Valentis noted that, "The safety of our crews and vessels remains our primary consideration."
He added that the medium-range tanker Pyxis Karteria continues to operate safely in the Persian Gulf under an existing charter.
