Pyxis Tankers eked out a steady profit in the second quarter amid a softer-than-expected products tanker market.
The New York-listed shipowner reported a $407,000 in net income, which was better than the profit of $270,000 in the same period of last year.
But earnings before interest, taxes, depreciation and amortisation (ebitda) came improved by 10% to $2.61m.
Inventories pull down market
Chief executive Valentios Valentis blamed the market softness on high products inventories caused by moderating demand for fuels and fleet growth.
