Greece’s Pyxis Tankers plans to take advantage of falling vessel values to grow the fleet in the near future.
The Nasdaq-listed company earned a fourth-quarter profit in deteriorating market conditions, chief executive Valentios Valentis said.
“During this recent quarter, the product tanker sector experienced decelerating chartering activity due to softening global demand for transportation fuels, seasonal refinery maintenance and moderating inventories of various refined petroleum products,” he added.
