Pyxis Tankers Inc. (NASDAQ Capital Markets: PXS), an international pure-play product tanker firm, announced today that it has reached an agreement to sell the Northsea Alpha and Northsea Beta, two 8,600 dwt product tankers built in 2010, for an aggregate sale price of $8.9 million as reported by Yahoo.
Vessel sales
Completion of the vessel sales, which are subject to customary closing conditions, should occur between late January 2022 and late February 2022.
After the repayment of the outstanding indebtedness securing these vessels and the payment of various transaction costs, the Company expects to receive aggregate net cash proceeds of approximately $2.8 million, which would be used for working capital purposes.
For the fiscal year ended December 31, 2021, the Company expects to recognize a non-cash loss from asset dispositions of approximately $2.0 million.
Valentios Valentis, our Chairman and CEO commented: “The sale of these non–core assets underscores our strategic focus on the eco–MR product tanker sector reduces outstanding debt and improves balance sheet liquidity.”
Moving forward, we will have a fleet of five MRs with an average age of 8.3 years.
About Pyxis Tankers Inc.
We currently own a modern fleet of seven 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 and modifications. We are positioned to opportunistically expand and maximize our fleet due to competitive cost structure, strong customer relationships and an experienced management team whose interests are aligned with those of its shareholders. For more information, visit http://www.pyxistankers.com.
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Source: Yahoo
