Full Replay of the Session
A replay of the full session of the presentation and the extensive Q&A can be accessed at:
https://www.youtube.com/watch?v=sgrzCmw6hrE
Highlights from the
Financial Highlights
During the presentation,
“We have a very competitive total daily operational cost structure,”
Market Update - Sanctions on Russian Products & China’s Reopening to Bolster Market
Generally, demand for refined petroleum products has increased in the past two years, due to post-pandemic global economic recovery as well as increased personal and commercial mobility. Impacts of the Russian-Ukrainian War and, more recently, China’s reopening have led to stronger chartering conditions for MR2s. Even though macro-economic conditions and geo-political events may create added volatility for the sector, demand for such vessels is expected to remain solid for the longer term.
When asked if the upcoming price cap on Russian refined products will impact the product tanker sector,
In terms of supply,
ESG Matters
Pyxis’ fleet is about 2.5 years younger compared to the global industry fleet. All of its vessels have eco features, which provide for lower fuel consumption and emissions than standard tankers, and fully comply with environmental regulations. Rather than fitting its vessels with scrubbers, Pyxis runs its ships on compliant low-sulphur bunker fuel. It is more than a simple economic analysis. “We have taken the decision of not installing scrubbers…a scrubber investment in an MR vessel is not an easy installation,” and can create technical problems,
“Going forward, regarding alternative fuels, we haven’t seen substantial changes in our industry,”
The debate surrounding alternative fuels and environmental technology tie into the Company’s strategy regarding newbuilds. “We will not order new vessels with existing technology. We would rather wait and see” regarding alternative fuels, the Pyxis CEO said. Rather, the preference remains the acquisition of secondhand modern eco vessels. Pyxis is focused on opportunistic fleet growth, particularly in terms of acquiring younger, eco-efficient IMO II & III MR2’s, which can “carry more types of cargoes to many ports worldwide,”
CAPITAL LINK- DISCLAIMER
Capital Link is hosting a series of online Corporate Presentations, whereby the Senior Management teams of leading listed maritime companies present their business development, strategy, growth prospects, and overall sector outlook. The presentations are approximately 45 minutes and consist of a company presentation followed by live Q&A between company management and webinar participants. All presentations in the series can be accessed at https://webinars.capitallink.com/2023/company_presentation/.
The webinars, including the ones mentioned above, are strictly for informational and educational purposes and should not be relied upon. They do not constitute an offer to buy or sell securities or investment advice or advice of any kind. The views expressed are not those of Capital Link which bears no responsibility for them.
ABOUT CAPITAL LINK
Founded in 1995, Capital Link provides Investor & Public Relations and Media services to several listed and private companies, including companies featured in the above mentioned webinars. Capital Link focuses mainly on the sectors of energy, commodities, maritime transportation, US Closed-End Funds and ETFs. Furthermore, Capital Link organizes a series of industry and investment conferences annually in key industry centers in
SUBSCRIBE TO CAPITAL LINK INSIGHTS
Stay up to date on industry news and trends by subscribing to Capital Link Insights on LinkedIn at https://www.linkedin.com/newsletters/7019377182598680576/
CONTACT
For more information on the Company Presentation Series, please email forums@capitallink.com or call +1 212 661-7566.
![](https://ml.globenewswire.com/media/OThhMTFiZTMtOTNjMS00MDdmLTgwMTItMjk0NWJlZDk5OWNmLTEwMzMxMDQ=/tiny/Capital-Link.png)
2023 GlobeNewswire, Inc., source