Pyxis Tankers Inc. reported time charter equivalent revenues of $8.9 million for the third quarter of 2025, a decrease of 23.5% compared to the same period in 2024. Net income for the quarter was $1.2 million, or $0.11 per share, while adjusted EBITDA stood at $4.2 million, reflecting a decline from the previous year. The company attributed the lower results to softer chartering conditions in both the product tanker and dry bulk sectors, though noted sequential improvement during the quarter. The total fleet time charter equivalent rate was $17,643 per day, with MR2 tankers averaging $21,085 and bulkers $13,513 per day. Pyxis Tankers' mixed chartering strategy continues to provide exposure to both spot trading and time charters. The presentation also highlighted ongoing geopolitical events, including the Russia-Ukraine conflict and related sanctions, which have influenced trade flows and supported demand for compliant tanker tonnage. The EU plans to ban refined products derived from Russian crude in 2026, with further energy import restrictions to follow in 2027. You can access the full presentation through the link below.