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Pyxis ringing the bell for product tankers at Nasdaq

On 4 May the chairman and chief executive of Pyxis Tankers Eddie Valentis, rang the closing bell at the Nasdaq Stock Market headquarters at Times Square in midtown New York.

Barry Parker, New York Correspondent

May 8, 2016

1 Min Read
Kalyakan - stock.adobe.com

Pyxis has been listed since late October 2015, on the Nasdaq market - which is completely electronic- hence the bell is really a buzzer. The ceremony, followed by a reception at Nasdaq and then a lively dinner at a nearby restaurant, was attended by several dozen people including family members and personal friends, company management and directors, and bankers involved with the company’s bank and capital markets funding.

In his remarks, Valentis stressed that Pyxis, though small - presently with six vessels, would look closely at opportunities presented, and “would not enter into deals just for growth’s sake” but, instead, would enter into deals that made financial and strategic sense.

He told the group, “We are well positioned to opportunistically expand and maximize our fleet due to competitive cost structure, strong customer relationships and experienced management team, whose interests are aligned with those of our shareholders.”

The location of Nasdaq, at Times Square- something of a crossroads for New York, is unique, and included a big display (see picture) on the ten-storey high screen outside the headquarters.

About the Author

Barry Parker

New York Correspondent

Barry Parker is a New York-based maritime specialist and writer, associated with Seatrade since 1980. His early work was in drybulk chartering, and in the early 1990s he moved into shipping finance where he served as a deal-maker and analyst with a leading maritime merchant bank. Since the late 1990s he has worked for a group of select clients on various maritime projects, also remaining active as a writer.

Barry Parker is the author of an Eco-tanker study for CLSA and a presentation to the Baltic Exchange Freight Market User Group on the arbitrage of tanker FFAs with listed tanker equities.

 

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