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Pyxis given the okay by NASDAQ

Pyxis Tankers, a Greek backed product tanker firm, has been given the green light to continue trading on the NASDAQ in New York after its shares had managed to trade above $1 for 10 consecutive days.

Commented, Henry Williams, the firm’s CFO: “We are pleased that we regained compliance so quickly with Nasdaq’s minimum closing bid price rule.  We believe that the recent release of our solid results for the year end 2015 contributed to that positive result.  We plan to continue to emphasise how our specific sector of shipping, product tankers, is performing significantly better than many other sectors, and that we believe that Pyxis’ operating platform is comparable to or better than many of our publicly-listed product tanker peers.”

Pyxis is owned by Valentios Valentis and has six tankers on its books. It started trading on the NASDAQ last October when merged with LookSmart, an internet search engine.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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