Pyxis Tankers (PXS) 6-K 7 Aug 23 Current report (foreign) Financial data

Cover

Cover	6 Months Ended
	Jun. 30, 2023
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-37611
Entity Registrant Name	Pyxis Tankers Inc.
Entity Central Index Key	0001640043
Entity Address, Address Line One	59 K. Karamanli Street
Entity Address, City or Town	Maroussi
Entity Address, Country	GR
Entity Address, Postal Zip Code	15125
City Area Code	30
Local Phone Number	210 638 0200

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 32,048	$ 7,563
Restricted cash, current portion	400	376
Inventories	858	1,911
Trade accounts receivable, net	4,146	10,469
Prepayments and other current assets	543	204
Insurance claim receivable		608
Total current assets	37,995	21,131
FIXED ASSETS, NET:
Vessels, net	95,467	114,185
Total fixed assets, net	95,467	114,185
OTHER NON-CURRENT ASSETS:
Restricted cash, net of current portion	2,000	2,250
Financial derivative instrument		619
Deferred dry dock and special survey costs, net	1,263	794
Total other non-current assets	3,263	3,663
Total assets	136,725	138,979
CURRENT LIABILITIES:
Current portion of long-term debt, net of deferred financing costs	5,559	5,829
Trade accounts payable	2,113	2,604
Hire collected in advance	918	2,133
Accrued and other liabilities	878	967
Total current liabilities	10,546	12,561
NON-CURRENT LIABILITIES:
Long-term debt, net of current portion and deferred financing costs	53,386	59,047
Promissory note		6,000
Total non-current liabilities	53,386	65,047
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY:
Preferred stock ($0.001 par value; 50,000,000 shares authorized; of which 1,000,000 authorized Series A Convertible Preferred Shares; 449,473 Series A Convertible Preferred Shares issued and outstanding as at December 31, 2022 and 403,831 at June 30, 2023)
Common stock ($0.001 par value; 450,000,000 shares authorized; 10,614,319 shares issued and outstanding as at December 31, 2022 and 10,794,812 at June 30, 2023, respectively)	11	11
Additional paid-in capital	111,826	111,869
Accumulated deficit	(39,044)	(50,509)
Total stockholders’ equity	72,793	61,371
Total liabilities and stockholders’ equity	136,725	138,979
Related Party [Member]
CURRENT LIABILITIES:
Due to related parties	$ 1,078	$ 1,028

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	10,794,812	10,614,319
Common stock, shares outstanding	10,794,812	10,614,319
Series A Convertible Preferred Shares [Member]
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	403,831	449,473
Preferred stock, shares outstanding	403,831	449,473

Interim Consolidated Statements

Interim Consolidated Statements of Comprehensive Income / (Loss) (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenues, net	$ 21,121	$ 22,968
Expenses:
Voyage related costs and commissions	(3,273)	(7,802)
Vessel operating expenses	(5,790)	(6,324)
General and administrative expenses	(2,002)	(1,312)
Management fees, related parties	(330)	(394)
Management fees, other	(397)	(516)
Amortization of special survey costs	(176)	(175)
Depreciation	(2,634)	(3,024)
Bad debt provisions		(50)
Allowance for credit gains/(losses)	75	(4)
Gain/(Loss) from the sale of vessels, net	8,017	(466)
Operating income	14,611	2,901
Other expenses, net:
Loss from debt extinguishment	(287)	(34)
Gain/(loss) from financial derivative instruments	(59)	320
Interest and finance costs, net	(2,395)	(1,829)
Total other expenses, net	(2,741)	(1,543)
Net income	11,870	1,358
Dividend Series A Convertible Preferred Stock	(418)	(449)
Net income attributable to common shareholders	$ 11,452	$ 909
Income per common share, basic	$ 1.06	$ 0.09
Income per common share, diluted	$ 0.94	$ 0.09
Weighted average number of common shares, basic	10,754,405	10,613,424
Weighted average number of common shares, diluted	12,577,390	10,613,424

Interim Consolidated Statemen_2

Interim Consolidated Statements of Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2023 - USD ($) $ in Thousands	Series A Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2022		$ 11	$ 111,869	$ (50,509)	$ 61,371
Beginning balance, shares at Dec. 31, 2022	449,473	10,614,319
Conversion of Series A Convertible Preferred Shares to common stock
Conversion of Series A Convertible Preferred Shares to common stock, shares	(45,642)	203,924
Preferred stock dividends paid				(405)	(405)
Common stock re-purchase program			(91)		(91)
Stock repurchased during period shares		(23,431)
Restricted common stock grants			48		48
Net income				11,870	11,870
Ending balance, value at Jun. 30, 2023		$ 11	$ 111,826	$ (39,044)	$ 72,793
Ending balance, shares at Jun. 30, 2023	403,831	10,794,812

Interim Consolidated Statemen_3

Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income	$ 11,870	$ 1,358
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	2,634	3,024
Amortization and write-off of special survey costs	176	175
Allowance for credit losses	(75)	4
Amortization and write-off of financing costs	126	155
Amortization of restricted common stock grants	47
Loss from debt extinguishment	287	34
Loss/(Gain) from financial derivative instrument	59	(320)
Gain on sale of vessel, net	(8,017)
Bad debt provisions		50
Changes in assets and liabilities:
Inventories	1,053	(1,899)
Due from related parties	50	1,691
Trade accounts receivable, net	6,398	(3,602)
Prepayments and other assets	(339)	(98)
Insurance claim receivable	608	(1,933)
Special survey cost	(814)	(445)
Trade accounts payable	(491)	2,759
Hire collected in advance	(1,215)
Accrued and other liabilities	(88)	(179)
Net cash provided by operating activities	12,269	774
Cash flow from investing activities:
Proceeds from the sale of vessel, net	24,291	8,509
Payments for vessel acquisition		(2,995)
Ballast water treatment system installation		(555)
Vessel additions	(21)
Net cash provided by investing activities	24,270	4,959
Cash flows from financing activities:
Proceeds from long-term debt	15,500
Repayment of long-term debt	(21,697)	(8,930)
Repayment of promissory note	(6,000)
Financial derivative instrument	561
Payment of financing costs	(148)
Preferred stock dividends paid	(405)	(436)
Common stock re-purchase program	(91)
Net cash used in financing activities	(12,280)	(9,366)
Net (decrease)/increase in cash and cash equivalents and restricted cash	24,259	(3,633)
Cash and cash equivalents and restricted cash at the beginning of the period	10,189	9,874
Cash and cash equivalents and restricted cash at the end of the period	34,448	6,241
SUPPLEMENTAL INFORMATION:
Cash paid for interest	$ 2,598	$ 1,722

Basis of Presentation and Gener

Basis of Presentation and General Information	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and General Information	1. Basis of Presentation and General Information PYXIS TANKERS INC. (“Pyxis”) is a corporation incorporated in the Republic of the Marshall Islands on March 23, 2015. As of June 30, 2023, Pyxis owns 100 four ● SEVENTHONE CORP., established under the laws of the Republic of the Marshall Islands (“Seventhone”); ● EIGHTHONE CORP., established under the laws of the Republic of the Marshall Islands (“Eighthone”); ● TENTHONE CORP., established under the laws of the Republic of the Marshall Islands (“Tenthone”); ● ELEVENTHONE CORP., established under the laws of the Republic of the Marshall Islands (“Eleventhone” and collectively with Seventhone, Eighthone and Tenthone the “Vessel-owning companies”). We also currently own 100 % ownership interest in the following non-vessel owning companies: ● SECONDONE CORPORATION LTD, established under the laws of the Republic of the Marshal Islands (“Secondone”) that owned the vessel “Northsea Alpha” that was sold to an unaffiliated third party on January 28, 2022; ● THIRDONE CORPORATION LTD, established under the laws of the Republic of the Marshal Islands (“Thirdone”) that owned the vessel “Northsea Beta” that was sold to an unaffiliated third party on March 1, 2022; ● FOURTHONE CORPORATION LTD, established under the laws of the Republic of Malta (“Fourthone”) that owned the vessel “Pyxis Malou” that was sold to an unaffiliated third party on March 23, 2023; ● SIXTHONE CORP., established under the laws of the Republic of the Marshal Islands (“Sixthone”) that owned the vessel “Pyxis Delta” that was sold to an unaffiliated third party on January 13, 2020 and, ● MARITIME TECHNOLOGIES CORP, established under the laws of Delaware. All of the Vessel-owning companies are engaged in the marine transportation of liquid cargoes through the ownership and operation of tanker vessels, as listed below: Schedule of Ownership and Operation of Tanker Vessels Vessel-owning Company Incorporation date Vessel Dead Weight tons “DWT” Year built Acquisition date Seventhone 05/31/2011 Pyxis Theta 51,795 2013 09/16/2013 Eighthone 02/08/2013 Pyxis Epsilon 50,295 2015 01/14/2015 Tenthone 04/22/2021 Pyxis Karteria 46,652 2013 07/15/2021 Eleventhone 11/09/2021 Pyxis Lamda 50,145 2017 12/20/2021 Effective May 13, 2022, the Company effected a four-for-one reverse stock split on its issued and outstanding common stock. All share and per share amounts disclosed in the accompanying financial statements give effect to this reverse stock split retroactively, for all periods presented. The accompanying Unaudited Interim Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete annual financial statements. In the opinion of the management of the Company, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of financial position, operating results and cash flows have been included in the accompanying Unaudited Interim Condensed Consolidated Financial Statements. Interim results are not necessarily indicative of results that may be expected for the year ending December 31, 2023. These Unaudited Interim Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and footnotes for the year ended December 31, 2022, included in the Company’s Annual Report on Form 20-F filed with the SEC on April 12, 2023 (the “2022 Annual Report”). Revenues for the six month periods ended June 30, 2022 and 2023, deriving from significant charterers individually accounting for 10% or more of revenues (in percentages of total revenues), were as follows: Summary of Revenue from Significant Charterers for 10% or More of Revenue Charterer Six months ended June 30, 2022 2023 A — 50 % B 23 % 31 % C 36 % 13 % Total 59 % 94 % The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying Consolidated Balance Sheets that are presented in the accompanying interim condensed consolidated statement of cash flows for the six month periods ended June 30, 2022 and 2023. PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. dollars, except for share and per share data) 1. Basis of Presentation and General Information: -Continued: Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash June 30, 2022 2023 Cash and cash equivalents $ 3,636 $ 32,048 Restricted cash, current portion 355 400 Restricted cash, net of current portion 2,250 2,000 Total cash and cash equivalents and restricted cash $ 6,241 $ 34,448 PYXIS MARITIME CORP. (“Maritime”), a corporation established under the laws of the Republic of the Marshall Islands, which is beneficially owned by Mr. Valentios (“Eddie”) Valentis, the Company’s Chairman, Chief Executive Officer and Class I Director, provides certain ship management services to the Vessel-owning companies, as discussed in Note 3. With effect from the delivery of each vessel, the crewing and technical management of the vessels were contracted to INTERNATIONAL TANKER MANAGEMENT LTD. (“ITM”) with permission from Maritime. ITM is an unrelated third party technical manager, represented by its branch based in Dubai, UAE. Each ship-management agreement with ITM is in force until it is terminated by either party. The ship-management agreements can be cancelled either by the Company or ITM for any reason at any time upon three months’ advance notice. As of June 30, 2023, the Company had a working capital surplus of $ 27.5 As of June 30, 2023, Mr. Valentis beneficially owned approximately 53

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies The accounting policies followed in the preparation of these Unaudited Interim Condensed Consolidated Financial Statements are the same with those applied in the preparation of the Company’s Consolidated Financial Statements for the year ended December 31, 2022. See Note 2 to the Company’s Consolidated Financial Statements for the year ended December 31, 2022, included in the 2022 Annual Report. There have been no material changes to these policies in the six month period ended June 30, 2023, except of the following addition. (a) Stock Compensation

Transactions with Related Parti

Transactions with Related Parties	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Transactions with Related Parties	3. Transactions with Related Parties The following transactions with related parties occurred during the six month periods ended June 30, 2022 and 2023. (a) Maritime The following amounts were charged by Maritime pursuant to the head management and ship-management agreements with the Company, and are included in the accompanying unaudited interim Consolidated Statements of Comprehensive Income: PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 3. Transactions with Related Parties: – Continued: Schedule of Amounts Charged by Maritime Included in the Accompanying Consolidated Statements of Comprehensive Loss Six months ended June 30, 2022 2023 Included in Voyage related costs and commissions Charter hire commissions $ 289 $ 267 Included in Management fees, related parties Ship-management Fees 394 330 Included in General and administrative expenses Administration Fees 819 898 Total $ 1,502 $ 1,495 During the first quarter of 2023, we also paid a one-time performance bonus of $ 0.6 As of December 31, 2022 and June 30, 2023, the balances with Maritime were $ 1,028 and $ 1,078 , respectively, and are included in Due to related parties in the accompanying Consolidated Balance Sheets. The balances with Maritime are interest free and with no specific repayment terms. The Company uses the services of Maritime, to provide a wide range of shipping services, including but not limited to, chartering, sale and purchase, insurance, operations and dry-docking and construction supervision, all provided at a fixed daily fee per vessel (the “Head Management Agreement”). For the ship management services, Maritime charges a fee payable by each subsidiary of $ 0.325 0.450 1.25 1,600 In the event of a change of control of the Company during the management period or within 12 months after the early termination of the Head Management Agreement, then the Company will pay to Maritime an amount equal to 2.5 times the then annual Administration Fees. Pursuant to the amendment of this agreement on March 18, 2020, in the event of such change of control and termination, the Company shall also pay to Maritime an amount equal to 12 months of the then daily Ship-management Fees. The Ship-management Fees and the Administration Fees are adjusted annually according to the official inflation rate in Greece or such other country where Maritime was headquartered during the preceding year. On August 9, 2016, the Company amended the Head Management Agreement with Maritime to provide that in the event that the official inflation rate for any calendar year is deflationary, no adjustment shall be made to the Ship-management Fees and the Administration Fees, which will remain, for the particular calendar year, as per the previous calendar year. Effective January 1, 2019 and 2020, the Ship-management Fees and the Administration Fees were increased by 0.62%, and, 0.26% respectively, in line with the average inflation rate of Greece for 2018 and 2019. For 2020, the average rate in Greece was a deflation of 1.24% and, as a result, no adjustment was made to the Ship-management Fees and the Administration Fees effective January 1, 2021, which remained, for the particular calendar year, as per the previous year. Effective January 1, 2022 and 2023, the Ship-management Fees and the Administration Fees were increased by 1.23% and 9.65%, respectively, in line with the average inflation rate of Greece for 2021 and 2022. (b) Maritime Investors Corp.: On February 10, 2023 the Company repaid $ 3.0 million of the $ 6.0 million of the Amended & Restated Promissory Note due to Maritime Investors Corp. On March 13, 2023, the Company completed the debt refinancing of the “Pyxis Karteria”, our 2013 built vessel with a $ 15.5 2.7 3 6 Interest charged on the Amended & Restated Promissory Note for the six months ended June 30, 2022 and 2023, amounted to $ 223 69 nil PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 3. Transactions with Related Parties: – Continued: On May 11, Maritime Investors Corp granted with 4,000 PXS restricted share under the active Equity Incentive Plan (“EIP”). The restricted shares grant has vesting periods up to November 2024 (see note 8).

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories	4. Inventories The amounts in the accompanying Consolidated Balance Sheets are analyzed as follows: Schedule of Inventories December 31, June 30, 2022 2023 Lubricants $ 617 $ 457 Bunkers 1,294 401 Total $ 1,911 $ 858

Vessels, net

Vessels, net	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Vessels, net	5. Vessels, net The amounts in the accompanying Consolidated Balance Sheets are analyzed as follows: Schedule of Vessels Vessel Accumulated Net Book Cost Depreciation Value Balance January 1, 2023 $ 148,736 $ (34,551 ) $ 114,185 Sale of Vessel - Pyxis Malou (25,000 ) 8,894 (16,106 ) Vessel additions 22 — 22 Depreciation — (2,634 ) (2,634 ) Balance June 30, 2023 $ 123,758 $ (28,291 ) $ 95,467 On March 23, 2023, pursuant to the sale agreement that we entered into on March 1, 2023, the “Pyxis Malou” was delivered to her buyer. The aggregate gross sale price was $ 24.8 6.4 0.75 As of June 30, 2023, the Company reviewed the carrying amount in connection with the estimated recoverable amount for each of its vessels held and used. This review indicated that such carrying amounts were fully recoverable for the Company’s vessels held and used and, consequently, no impairment charge was deemed necessary for the period ended June 30, 2023. All of the Company’s vessels have been pledged as collateral to secure the bank loans discussed in Note 7.

Deferred dry dock and special s

Deferred dry dock and special survey costs, net	6 Months Ended
	Jun. 30, 2023
Deferred Dry Dock And Special Survey Costs Net
Deferred dry dock and special survey costs, net	6. Deferred dry dock and special survey costs, net The movement in deferred charges, net, in the accompanying Consolidated Balance Sheets are as follows: Schedule of Deferred Charges 2023 Balance January 1, $ 794 Additions 814 Amortization of special survey costs (176 ) Pyxis Malou write-off (169 ) Balance June 30, $ 1,263 The additions during the first half of 2023 are related manly with “Pyxis Karteria” special survey which completed on April 14, 2023. The amortization of the special survey costs is separately reflected in the accompanying unaudited interim consolidated statement of comprehensive income. PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data)

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Long-term Debt	7. Long-term Debt The amounts shown in the accompanying Consolidated Balance Sheets at December 31, 2022 and June 30, 2023, are analyzed as follows: Schedule of Long-Term Debt December 31, June 30, Vessel (Borrower) 2022 2023 (a) “Pyxis Malou” (Fourthone) $ 6,616 $ — (b) “Pyxis Theta” (Seventhone) 12,550 11,950 (c) “Pyxis Epsilon” (Eighthone) 14,900 14,300 (d) “Pyxis Karteria” (Tenthone) 11,800 15,050 (e) “Pyxis Lamda” (Eleventhone) 19,884 18,253 Total $ 65,750 $ 59,553 December 31, June 30, 2022 2023 Current portion $ 6,100 $ 5,776 Less: Current portion of deferred financing costs (271 ) (217 ) Current portion of long-term debt, net of deferred financing costs, current $ 5,829 $ 5,559 Long-term portion $ 59,650 $ 53,777 Less: Non-current portion of deferred financing costs (603 ) (391 ) Long-term debt, net of current portion and deferred financing costs, non-current $ 59,047 $ 53,386 (a)&(e) “Pyxis Malou” “Pyxis Lamda” On the same date, Fourthone drew down an amount of $ 7,320 7,320 24.8 6.4 0.75 Upon delivery of “Pyxis Lamda” 21,680 18,253 431.67 12,210 December 2026 The loan bears interest at SOFR plus a margin of 3.15 Standard loan covenants include, among others, a minimum liquidity and a minimum required Security Cover Ratio (“MSC”). The facility imposes certain customary covenants and restrictions with respect to, among other things, the borrower’s ability to distribute dividends, incur additional indebtedness, create liens, change its share capital, engage in mergers, or sell the vessel and a minimum collateral value to outstanding loan principal. Certain major covenants include, as defined in such agreements: Covenants: ● The borrower undertook to maintain minimum deposit with the bank of $ 750 500 ● The ratio of the corporate guarantor’s total liabilities (exclusive of the Promissory Note) to market adjusted total assets is not to exceed 75 34.4 40.6 ● MSC is to be at least 125 ● No change of control shall be made directly or indirectly in the ownership, beneficial ownership, control or management of any of the borrower and the corporate guarantor or any share therein or the vessels, as a result of which less than 100% of the shares and voting rights in each borrower are owned by the corporate guarantor or less than 25% of the shares and voting rights in the corporate guarantor will remain in the ultimate legal and beneficial ownership of the beneficial shareholders. PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 7. Long-term Debt: – Continued: (b) 15,250 11,293 11,950 300 9,250 July 2025 3.35 Standard loan covenants include, among others, a minimum liquidity and a MSC. The facility imposes certain customary covenants and restrictions with respect to, among other things, the borrower’s ability to distribute dividends, incur additional indebtedness, create liens, change its share capital, engage in mergers, or sell the vessel and a minimum collateral value to outstanding loan principal. Certain major covenants include, as defined in such agreement: Covenants: ● The borrower undertakes to maintain minimum deposit with the bank of $ 500 ● The ratio of the corporate guarantor’s total liabilities (exclusive of the Promissory Note) to market adjusted total assets is not to exceed 75 34.4 40.6 ● MSC is to be at least 125 ● No change shall be made directly or indirectly in the ownership, beneficial ownership, control or management of Seventhone or of the Company or any share therein or the “Pyxis Theta” (c) 14,300 300 11,000 March 2026 3.35 Standard loan covenants include, among others, a minimum liquidity and a MSC. The facility imposes certain customary covenants and restrictions with respect to, among other things, the borrower’s ability to distribute dividends, incur additional indebtedness, create liens, change its share capital, engage in mergers, or sell the vessel and a minimum collateral value to outstanding loan principal. Certain major covenants include, as defined in such agreement: ● The borrower undertakes to maintain minimum deposit with the bank of $ 500 ● The ratio of the corporate guarantor’s total liabilities (exclusive of the Promissory Note) to market adjusted total assets is not to exceed 75 34.4 40.6 ● MSC is to be at least 125 ● No change shall be made directly or indirectly in the ownership, beneficial ownership, control or management of Eighthone or of Pyxis or any share therein or the “Pyxis Epsilon” (d) 15,500 11,500 15,050 450,000 300,000 8,900 March 2028 Standard loan covenants of the Tenthone loan include, among others, a minimum liquidity and a MSC. Certain major covenants include, as defined in such agreement: ● The borrower undertakes to maintain minimum deposit with the bank of $ $ 900,000 500,000 ● The ratio of the corporate guarantor’s total liabilities (exclusive of the Promissory Note) to market adjusted total assets is not to exceed 75 34.4 40.6 ● MSC is to be at least 125 ● Minimum cash and cash equivalent shall not be less than the greater of (i) $ 2.0 million and (ii) 3 % of the total debt excluding any promissory note. PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 7. Long-term Debt: – Continued: Amounts presented in Restricted cash, current and non-current, in the Consolidated Balance Sheets are related to minimum cash and the retention account requirements imposed by the Company’s debt agreements. The annual principal payments required to be made after June 30, 2023, are as follows: Schedule of Principal Payments To June 30, Amount 2024 $ 5,777 2025 5,327 2026 24,377 2027 and thereafter 24,072 Total $ 59,553 Total interest expense on long-term debt and the Promissory Note for the six months ended June 30, 2022, and 2023, amounted to $ 1,686 2,661 4.30 8.17 As of June 30, 2023, the Company was in compliance with all of the loan covenants in its loan agreements and there was no amount available to be drawn down under the existing loan agreements.

Equity Capital Structure and Eq

Equity Capital Structure and Equity Incentive Plan	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Equity Capital Structure and Equity Incentive Plan	8. Equity Capital Structure and Equity Incentive Plan Effective May 13, 2022, the Company effected a four-for-one reverse stock split on its issued and outstanding common stock. All share and per share amounts disclosed in the accompanying financial statements give effect to this reverse stock split retroactively, for all periods presented. The Company’s authorized common and preferred stock consists of 450,000,000 50,000,000 1,000,000 As of December 31, 2022 and June 30, 2023, the Company had a total of 10,614,319 10,849,812 449,473 403,831 5.60 0.001 Furthermore, as of December 31, 2022 and June 30, 2023, the Company had outstanding warrants which amounted to 1,590,540 1,591,062 5.60 4,683 4,683 24.97 3,460 13,860 5.60 107,143 8.75 125 During the first half of 2023, an aggregate of 45,642 203,924 403,831 1,591,062 4,683 4,683 3,460 3,460 PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 8. Equity Capital Structure and Equity Incentive Plan:- Continued: In October, 2015, our Board approved, and the Company adopted the Pyxis Tankers Inc. 2015 EIP for common shares. The maximum aggregate number of shares of common stock that may be delivered pursuant to awards granted under the Plan during the ten-year Under the terms of the EIP, the Company’s Board is able to grant, (a) non-qualified stock options, (b) stock appreciation rights, (c) restricted stock, (d) restricted stock units, (e) unrestricted stock grants, (f) other equity-based or equity-related awards and (g) dividend equivalents. No award may be granted under the EIP after the tenth anniversary of the date the EIP was adopted by our Board. On May 11, our Nominating & Corporate Governance Committee signed the resolution to grant the issuance of a total of 55,000 47,000 Restricted stock during the period ended June 30, 2023 is analyzed as follows: Summary of Restricted Stock Number of Shares Weighted Average Grant Date Price Outstanding at December 31, 2022 — $ — Granted 55,000 3.68 Vested — — Forfeited or expired — — Outstanding at June 30, 2023 55,000 $ 3.68 The fair value of the restricted shares has been determined with reference to the closing price of the Company’s stock on the date the agreements were signed. The aggregate compensation cost is being recognized ratably in the consolidated statement of comprehensive income over the respective vesting periods. At June 30, 2023 the total unrecognized cost relating to restricted share awards was $ 172 0.5 During the months of January through June, 2023 the Company paid monthly cash dividends of $ 0.1615 405 5,729,730 53

Income per Common Share

Income per Common Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Income per Common Share	9. Income per Common Share Schedule of Loss Per Common Share 2022 2023 Six months ended June 30, 2022 2023 Net income available to common stockholders, basic $ 909 $ 11,452 Weighted average number of common shares, basic 10,613,424 10,754,405 Net income per common share, basic $ 0.09 $ 1.06 Net income available to common stockholders, diluted $ 909 $ 11,812 Weighted average number of common shares, diluted 10,613,424 12,577,390 Net income per common share, diluted $ 0.09 $ 0.94 As of June 30, 2022, securities that could potentially dilute basic income per share in the future that were not included in the computation of diluted income per share, because to do so would have anti-dilutive effect, were any incremental shares of the unexercised warrants, calculated with the treasury stock method, as well as shares assumed to be converted with respect to the Series A Convertible Preferred Shares calculated with the if-converted method. At June 30, 2022, there were no securities that could potentially dilute basic income per share. These securities consist of outstanding warrants which amounted to 1,590,540 5.60 4,683 4,683 24.97 4,000 4,000 5.60 107,143 8.75 125 As of June 30, 2023, securities that could potentially dilute basic income per share in the future that were not included in the computation of diluted income per share, because to do so would have anti-dilutive effect, were 1,591,062 5.60 4,683 4,683 24.97 4,000 4,000 5.60 55 403,831 5.60

Risk Management and Fair Value

Risk Management and Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Risk Management And Fair Value Measurements
Risk Management and Fair Value Measurements	10. Risk Management and Fair Value Measurements The principal financial assets of the Company consist of cash and cash equivalents, trade accounts receivable due from charterers and amounts due from related parties. The principal financial liabilities of the Company consist of long-term bank loans and trade accounts payable. Interest rate risk 10.0 3.5 July 18, 2022 9.6 2 July 8, 2025 0.5 PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 10. Risk Management and Fair Value Measurements: - Continued: Credit risk Currency risk Fair value: Schedule of Fair Value of Assets and Liabilities Carrying Fair Value Value Cash and cash equivalents (including restricted cash) $ 34,448 $ 34,448 Trade accounts receivable $ 4,146 $ 4,146 Trade accounts payable $ 2,113 $ 2,113 Long-term debt with variable interest rates, net $ 59,553 $ 59,553 Due to related parties $ 1,078 $ 1,078 The Company performs an impairment exercise whenever there are indicators of impairment. No Assets measured at fair value on a recurring basis: Interest rate cap The Company’s interest rate cap does not qualify for hedge accounting. The Company adjusts its interest rate cap contract to fair market value at the end of every period and records the resulting gain or loss during the period in the Consolidated Statements of Comprehensive Income. Information on the classification, the derivative fair value and the gain/(loss) from financial derivative instruments included in the Consolidated Financial Statements is shown below: Schedule of Financial Derivative Instrument Location December 31, June 30, Consolidated Balance Sheets – Location 2022 2023 Financial derivative instrument – Other non-current assets $ 619 $ — Schedule of Gains Losses on Derivative Instruments Consolidated Statements of Comprehensive Income – Location 2022 2023 Six months ended June 30, Consolidated Statements of Comprehensive Income – Location 2022 2023 Financial derivative instrument – Fair value at the beginning of the period $ 74 $ 619 Financial derivative instrument – Amounts received — (560 ) Financial derivative instrument – Fair value as at period end 394 — Gain/(Loss) from financial derivative instrument $ 320 $ (59 ) The derivative instrument – interest rate cap was sold on January 25, 2023 and we realized a net cash gain of $ 0.6 Assets measured at fair value on a non-recurring basis: Long lived assets held and used and held for sale As of December 31, 2022 and June 30, 2023, the Company reviewed the carrying amount in connection with the estimated recoverable amount for each of its vessels held and used. This review indicated that such carrying amount was fully recoverable for the Company’s vessels held and used. No As of December 31, 2022 and June 30, 2023, the Company did not have any other assets or liabilities measured at fair value on a non-recurring basis. PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data)

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies Minimum contractual charter revenues: Future minimum contractual charter revenues, gross of 1.25% address commission and 1.25% brokerage commissions to Maritime and of any other brokerage commissions to third parties, based on the vessels’ committed, non-cancelable, long-term time charter contracts as of June 30, 2023, are $ 3,498 Other The Company accrues for the cost of environmental and other liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. As of June 30, 2023 and as of the date of the issuance of the Unaudited Interim Condensed Consolidated Financial Statements, management is not aware of any other claims or contingent liabilities, which should be disclosed or for which a provision should be established in the accompanying Unaudited Interim Condensed Consolidated Financial Statements. The Company is covered for liabilities associated with the individual vessels’ actions to the maximum limits as provided by Protection and Indemnity (P&I) Clubs, members of the International Group of P&I Clubs.

Interest and Finance Costs, net

Interest and Finance Costs, net	6 Months Ended
	Jun. 30, 2023
Interest And Finance Costs Net
Interest and Finance Costs, net	12. Interest and Finance Costs, net The amounts in the accompanying unaudited interim Consolidated Statements of Comprehensive Income are analyzed as follows: Schedule of Interest and Finance Costs 2022 2023 Six months ended June 30, 2022 2023 Interest on long-term debt (Note 7) $ 1,463 $ 2,592 Interest on Promissory Note (Note 3) 223 69 Amortization of financing costs 155 126 Financing fees and charges (12 ) 21 Interest from time deposits — (413 ) Total $ 1,829 $ 2,395

Revenues, net

Revenues, net	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenues, net	13. Revenues, net The Company disaggregates its revenue from contracts with customers by the type of charter (time charters and spot charters). The following table presents the Company’s revenue disaggregated by revenue source for the six month periods ended June 30, 2022 and 2023: Schedule of Revenue Disaggregated by Revenue Source 2022 2023 Six months ended June 30, 2022 2023 Revenues derived from spot charters, net $ 17,194 $ 3,962 Revenues derived from time charters, net 5,774 17,159 Revenues, net $ 22,968 $ 21,121 The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less, in accordance with the optional exception in ASC 606. The following table presents the Company’s net trade accounts receivable disaggregated by revenue source as December 31, 2022 and June 30, 2023: Schedule of Accounts Receivable Disaggregated Revenue PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 13. Revenues, net: - Continued: December 31, June 30, Accounts receivable trade from spot charters $ 10,598 $ 3,852 Accounts receivable trade from time charters 35 383 Less: Bad debt provisions (26 ) (26 ) Less: Allowance for credit losses (138 ) (63 ) Total $ 10,469 $ 4,146

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events Dividend payment: 0.1615 65 0.1615 65 August 21, 2023 August 14, 2023 Formation of a 60% Drybulk Joint Venture: 6.8 million equity investment in a newly formed company, which has agreed to acquire a 2016 Japanese built 63,520 metric tons deadweight Ultramax bulk carrier from an un-affiliated third party. The Company will own 60% of this joint venture and the remaining 40% will be owned by a company related to our Chairman and Chief Executive Officer, Mr. Valentis. This scrubber-fitted eco-vessel is geared with four cargo cranes and a ballast water treatment system which provide optimal operating flexibility, lower environmental emissions and attractive fuel economics. The purchase price of the bulk carrier will be $ 28.5 million, which we anticipate will be partially funded by a $ 19.0 million five-year secured bank loan priced at SOFR plus a margin of 2.35 %. The vessel will be managed by Konkar Shipping Services, S.A., a company that is related to our Chairman and Chief Executive Officer, which is a long-time successful owner and manager of dry bulk vessels. The transaction is expected to close by late August, 2023 and is subject to the execution of definitive documentation and standard closing conditions.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Stock Compensation	(a) Stock Compensation

Basis of Presentation and Gen_2

Basis of Presentation and General Information (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Schedule of Ownership and Operation of Tanker Vessels	All of the Vessel-owning companies are engaged in the marine transportation of liquid cargoes through the ownership and operation of tanker vessels, as listed below: Schedule of Ownership and Operation of Tanker Vessels Vessel-owning Company Incorporation date Vessel Dead Weight tons “DWT” Year built Acquisition date Seventhone 05/31/2011 Pyxis Theta 51,795 2013 09/16/2013 Eighthone 02/08/2013 Pyxis Epsilon 50,295 2015 01/14/2015 Tenthone 04/22/2021 Pyxis Karteria 46,652 2013 07/15/2021 Eleventhone 11/09/2021 Pyxis Lamda 50,145 2017 12/20/2021
Summary of Revenue from Significant Charterers for 10% or More of Revenue	Revenues for the six month periods ended June 30, 2022 and 2023, deriving from significant charterers individually accounting for 10% or more of revenues (in percentages of total revenues), were as follows: Summary of Revenue from Significant Charterers for 10% or More of Revenue Charterer Six months ended June 30, 2022 2023 A — 50 % B 23 % 31 % C 36 % 13 % Total 59 % 94 %
Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying Consolidated Balance Sheets that are presented in the accompanying interim condensed consolidated statement of cash flows for the six month periods ended June 30, 2022 and 2023. PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. dollars, except for share and per share data) 1. Basis of Presentation and General Information: -Continued: Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash June 30, 2022 2023 Cash and cash equivalents $ 3,636 $ 32,048 Restricted cash, current portion 355 400 Restricted cash, net of current portion 2,250 2,000 Total cash and cash equivalents and restricted cash $ 6,241 $ 34,448

Transactions with Related Par_2

Transactions with Related Parties (Tables)	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Schedule of Amounts Charged by Maritime Included in the Accompanying Consolidated Statements of Comprehensive Loss	The following amounts were charged by Maritime pursuant to the head management and ship-management agreements with the Company, and are included in the accompanying unaudited interim Consolidated Statements of Comprehensive Income: PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 3. Transactions with Related Parties: – Continued: Schedule of Amounts Charged by Maritime Included in the Accompanying Consolidated Statements of Comprehensive Loss Six months ended June 30, 2022 2023 Included in Voyage related costs and commissions Charter hire commissions $ 289 $ 267 Included in Management fees, related parties Ship-management Fees 394 330 Included in General and administrative expenses Administration Fees 819 898 Total $ 1,502 $ 1,495

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories	The amounts in the accompanying Consolidated Balance Sheets are analyzed as follows: Schedule of Inventories December 31, June 30, 2022 2023 Lubricants $ 617 $ 457 Bunkers 1,294 401 Total $ 1,911 $ 858

Vessels, net (Tables)

Vessels, net (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Vessels	The amounts in the accompanying Consolidated Balance Sheets are analyzed as follows: Schedule of Vessels Vessel Accumulated Net Book Cost Depreciation Value Balance January 1, 2023 $ 148,736 $ (34,551 ) $ 114,185 Sale of Vessel - Pyxis Malou (25,000 ) 8,894 (16,106 ) Vessel additions 22 — 22 Depreciation — (2,634 ) (2,634 ) Balance June 30, 2023 $ 123,758 $ (28,291 ) $ 95,467

Deferred dry dock and special_2

Deferred dry dock and special survey costs, net (Tables)	6 Months Ended
	Jun. 30, 2023
Deferred Dry Dock And Special Survey Costs Net
Schedule of Deferred Charges	The movement in deferred charges, net, in the accompanying Consolidated Balance Sheets are as follows: Schedule of Deferred Charges 2023 Balance January 1, $ 794 Additions 814 Amortization of special survey costs (176 ) Pyxis Malou write-off (169 ) Balance June 30, $ 1,263

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	The amounts shown in the accompanying Consolidated Balance Sheets at December 31, 2022 and June 30, 2023, are analyzed as follows: Schedule of Long-Term Debt December 31, June 30, Vessel (Borrower) 2022 2023 (a) “Pyxis Malou” (Fourthone) $ 6,616 $ — (b) “Pyxis Theta” (Seventhone) 12,550 11,950 (c) “Pyxis Epsilon” (Eighthone) 14,900 14,300 (d) “Pyxis Karteria” (Tenthone) 11,800 15,050 (e) “Pyxis Lamda” (Eleventhone) 19,884 18,253 Total $ 65,750 $ 59,553 December 31, June 30, 2022 2023 Current portion $ 6,100 $ 5,776 Less: Current portion of deferred financing costs (271 ) (217 ) Current portion of long-term debt, net of deferred financing costs, current $ 5,829 $ 5,559 Long-term portion $ 59,650 $ 53,777 Less: Non-current portion of deferred financing costs (603 ) (391 ) Long-term debt, net of current portion and deferred financing costs, non-current $ 59,047 $ 53,386
Schedule of Principal Payments	The annual principal payments required to be made after June 30, 2023, are as follows: Schedule of Principal Payments To June 30, Amount 2024 $ 5,777 2025 5,327 2026 24,377 2027 and thereafter 24,072 Total $ 59,553

Equity Capital Structure and _2

Equity Capital Structure and Equity Incentive Plan (Tables)	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Summary of Restricted Stock	Restricted stock during the period ended June 30, 2023 is analyzed as follows: Summary of Restricted Stock Number of Shares Weighted Average Grant Date Price Outstanding at December 31, 2022 — $ — Granted 55,000 3.68 Vested — — Forfeited or expired — — Outstanding at June 30, 2023 55,000 $ 3.68

Income per Common Share (Tables

Income per Common Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Loss Per Common Share	Schedule of Loss Per Common Share 2022 2023 Six months ended June 30, 2022 2023 Net income available to common stockholders, basic $ 909 $ 11,452 Weighted average number of common shares, basic 10,613,424 10,754,405 Net income per common share, basic $ 0.09 $ 1.06 Net income available to common stockholders, diluted $ 909 $ 11,812 Weighted average number of common shares, diluted 10,613,424 12,577,390 Net income per common share, diluted $ 0.09 $ 0.94

Risk Management and Fair Valu_2

Risk Management and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Risk Management And Fair Value Measurements
Schedule of Fair Value of Assets and Liabilities	Fair value: Schedule of Fair Value of Assets and Liabilities Carrying Fair Value Value Cash and cash equivalents (including restricted cash) $ 34,448 $ 34,448 Trade accounts receivable $ 4,146 $ 4,146 Trade accounts payable $ 2,113 $ 2,113 Long-term debt with variable interest rates, net $ 59,553 $ 59,553 Due to related parties $ 1,078 $ 1,078
Schedule of Financial Derivative Instrument Location	Schedule of Financial Derivative Instrument Location December 31, June 30, Consolidated Balance Sheets – Location 2022 2023 Financial derivative instrument – Other non-current assets $ 619 $ —
Schedule of Gains Losses on Derivative Instruments	Schedule of Gains Losses on Derivative Instruments Consolidated Statements of Comprehensive Income – Location 2022 2023 Six months ended June 30, Consolidated Statements of Comprehensive Income – Location 2022 2023 Financial derivative instrument – Fair value at the beginning of the period $ 74 $ 619 Financial derivative instrument – Amounts received — (560 ) Financial derivative instrument – Fair value as at period end 394 — Gain/(Loss) from financial derivative instrument $ 320 $ (59 )

Interest and Finance Costs, n_2

Interest and Finance Costs, net (Tables)	6 Months Ended
	Jun. 30, 2023
Interest And Finance Costs Net
Schedule of Interest and Finance Costs	The amounts in the accompanying unaudited interim Consolidated Statements of Comprehensive Income are analyzed as follows: Schedule of Interest and Finance Costs 2022 2023 Six months ended June 30, 2022 2023 Interest on long-term debt (Note 7) $ 1,463 $ 2,592 Interest on Promissory Note (Note 3) 223 69 Amortization of financing costs 155 126 Financing fees and charges (12 ) 21 Interest from time deposits — (413 ) Total $ 1,829 $ 2,395

Revenues, net (Tables)

Revenues, net (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Revenue Disaggregated by Revenue Source	Schedule of Revenue Disaggregated by Revenue Source 2022 2023 Six months ended June 30, 2022 2023 Revenues derived from spot charters, net $ 17,194 $ 3,962 Revenues derived from time charters, net 5,774 17,159 Revenues, net $ 22,968 $ 21,121
Schedule of Accounts Receivable Disaggregated Revenue	The following table presents the Company’s net trade accounts receivable disaggregated by revenue source as December 31, 2022 and June 30, 2023: Schedule of Accounts Receivable Disaggregated Revenue PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 13. Revenues, net: - Continued: December 31, June 30, Accounts receivable trade from spot charters $ 10,598 $ 3,852 Accounts receivable trade from time charters 35 383 Less: Bad debt provisions (26 ) (26 ) Less: Allowance for credit losses (138 ) (63 ) Total $ 10,469 $ 4,146

Schedule of Ownership and Opera

Schedule of Ownership and Operation of Tanker Vessels (Details) - Vessels [Member] Integer in Thousands	6 Months Ended
	Jun. 30, 2023 Integer
Seventhone Corp [Member]
Property, Plant and Equipment [Line Items]
Entity incorporation date of incorporation	May 31, 2011
Vessel	Pyxis Theta
DWT	51,795
Year built	2013
Acquisition date	Sep. 16, 2013
Eighthone Corp [Member]
Property, Plant and Equipment [Line Items]
Entity incorporation date of incorporation	Feb. 08, 2013
Vessel	Pyxis Epsilon
DWT	50,295
Year built	2015
Acquisition date	Jan. 14, 2015
Tenthone Corp [Member]
Property, Plant and Equipment [Line Items]
Entity incorporation date of incorporation	Apr. 22, 2021
Vessel	Pyxis Karteria
DWT	46,652
Year built	2013
Acquisition date	Jul. 15, 2021
Eleventhone Corp [Member]
Property, Plant and Equipment [Line Items]
Entity incorporation date of incorporation	Nov. 09, 2021
Vessel	Pyxis Lamda
DWT	50,145
Year built	2017
Acquisition date	Dec. 20, 2021

Summary of Revenue from Signifi

Summary of Revenue from Significant Charterers for 10% or More of Revenue (Details) - Revenue Benchmark [Member] - Customer Concentration Risk [Member]	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Charterer A [Member]
Product Information [Line Items]
Total	50%
Charterer B [Member]
Product Information [Line Items]
Total	31%	23%
Charterer C [Member]
Product Information [Line Items]
Total	13%	36%
Charterers [Member]
Product Information [Line Items]
Total	94%	59%

Schedule of Reconciliation of C

Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 32,048	$ 7,563	$ 3,636
Restricted cash, current portion	400		355
Restricted cash, net of current portion	2,000		2,250
Total cash and cash equivalents and restricted cash	$ 34,448		$ 6,241

Basis of Presentation and Gen_3

Basis of Presentation and General Information (Details Narrative) $ in Thousands	Jun. 30, 2023 USD ($) Integer
Working capital deficit | $	$ 27,500
Mr Valentis [Member]
Percentage of beneficially owned common stock	53%
Vessel Ownership [Member]
Number of vessel ownership interest entities | Integer	4
Vessels [Member]
Entity ownership interest	100%
Non Vessels [Member]
Entity ownership interest	100%

Schedule of Amounts Charged by

Schedule of Amounts Charged by Maritime Included in the Accompanying Consolidated Statements of Comprehensive Loss (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Related Party Transaction [Line Items]
Ship-management Fees	$ 330	$ 394
Total	5,790	6,324
Related Party [Member]
Related Party Transaction [Line Items]
Charter hire commissions	267	289
Ship-management Fees	330	394
Administration Fees	898	819
Total	$ 1,495	$ 1,502

Transactions with Related Par_3

Transactions with Related Parties (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands					6 Months Ended
	May 11, 2023	Mar. 23, 2023	Mar. 13, 2023	Feb. 10, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Performance bonus					$ 600
Prepayment for loan facility		$ 6,400
Interest on debt					69	$ 223
Promissory notes outstanding amount							$ 6,000
Maritime Investors Corp [Member] | Equity Incentive Plan [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, Employee Stock Purchase Plans	4,000
Pyxis Karteria [Member]
Related Party Transaction [Line Items]
Prepayment for loan facility			$ 15,500
Pyxis Karteria [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Related Party Transaction [Line Items]
Interest rate			2.70%
Promissory Note [Member]
Related Party Transaction [Line Items]
Repayments of Debt				$ 3,000
Senior loan facility				$ 6,000
Promissory notes outstanding amount
Maritime Investors Corp [Member]
Related Party Transaction [Line Items]
Senior loan facility			$ 3,000
Prepayment for loan facility			$ 6,000
Related Party [Member]
Related Party Transaction [Line Items]
Other Liabilities					$ 1,078		$ 1,028
Pyxis Maritime Corporation [Member]
Related Party Transaction [Line Items]
Ship management services per day per vessel					$ 0.325
Charter hire agreement commission rate					1.25%
Administration fees payable to related party					$ 1,600
Head management agreement, terms and manner of settlement					In the event of a change of control of the Company during the management period or within 12 months after the early termination of the Head Management Agreement, then the Company will pay to Maritime an amount equal to 2.5 times the then annual Administration Fees. Pursuant to the amendment of this agreement on March 18, 2020, in the event of such change of control and termination, the Company shall also pay to Maritime an amount equal to 12 months of the then daily Ship-management Fees.
Ship-management and administration fees percentage increase					Effective January 1, 2019 and 2020, the Ship-management Fees and the Administration Fees were increased by 0.62%, and, 0.26% respectively, in line with the average inflation rate of Greece for 2018 and 2019. For 2020, the average rate in Greece was a deflation of 1.24% and, as a result, no adjustment was made to the Ship-management Fees and the Administration Fees effective January 1, 2021, which remained, for the particular calendar year, as per the previous year. Effective January 1, 2022 and 2023, the Ship-management Fees and the Administration Fees were increased by 1.23% and 9.65%, respectively, in line with the average inflation rate of Greece for 2021 and 2022.
Pyxis Maritime Corporation [Member] | While Vessel is Under Construction [Member]
Related Party Transaction [Line Items]
Ship management services per day per vessel					$ 0.450

Schedule of Inventories (Detail

Schedule of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory [Line Items]
Inventories	$ 858	$ 1,911
Lubricants [Member]
Inventory [Line Items]
Inventories	457	617
Bunkers [Member]
Inventory [Line Items]
Inventories	$ 401	$ 1,294

Schedule of Vessels (Details)

Schedule of Vessels (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Line Items]
Net book value beginning balance	$ 114,185
Depreciation	(2,634)	$ (3,024)
Net book value, ending balance	95,467
Vessel Cost [Member]
Property, Plant and Equipment [Line Items]
Vessel cost, beginning balance	148,736
Vessel additions	(25,000)
Vessel additions	22
Depreciation
Vessel cost, ending balance	123,758
Accumulated Depreciation [Member]
Property, Plant and Equipment [Line Items]
Accumulated depreciation, beginning balance	(34,551)
Vessel additions	8,894
Vessel additions
Depreciation	(2,634)
Accumulated depreciation, ending balance	(28,291)
Net Book Value [Member]
Property, Plant and Equipment [Line Items]
Net book value beginning balance	114,185
Vessel additions	(16,106)
Vessel additions	22
Depreciation	(2,634)
Net book value, ending balance	$ 95,467

Vessels, net (Details Narrative

Vessels, net (Details Narrative) $ in Thousands	Mar. 23, 2023 USD ($)
Property, Plant and Equipment [Abstract]
Aggregate sale price for the vessels	$ 24,800
Prepayment for loan facility	6,400
Line of credit facility average outstanding amount	$ 750

Schedule of Deferred Charges (D

Schedule of Deferred Charges (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Deferred Dry Dock And Special Survey Costs Net
Balance January 1,	$ 794
Additions	814
Amortization of special survey costs	(176)	$ (175)
Pyxis Malou write-off	(169)
Balance June 30,	$ 1,263

Schedule of Long-Term Debt (Det

Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total	$ 59,553	$ 65,750
Current portion	5,776	6,100
Less: Current portion of deferred financing costs	(217)	(271)
Current portion of long-term debt, net of deferred financing costs, current	5,559	5,829
Long-term portion	53,777	59,650
Less: Non-current portion of deferred financing costs	(391)	(603)
Long-term debt, net of current portion and deferred financing costs, non-current	53,386	59,047
Pyxis Malou [Member] | Fourthone Corporation Ltd [Member]
Property, Plant and Equipment [Line Items]
Total		6,616
Pyxis Theta Vessel [Member] | Seventhone Corp [Member]
Property, Plant and Equipment [Line Items]
Total	11,950	12,550
Pyxis Epsilon Vessel [Member] | Eighthone Corp [Member]
Property, Plant and Equipment [Line Items]
Total	14,300	14,900
Pyxis Karteria Vessel [Member] | Tenthone Corp [Member]
Property, Plant and Equipment [Line Items]
Total	15,050	11,800
Pyxis Lamda Vessel [Member] | Eleventhone Corp [Member]
Property, Plant and Equipment [Line Items]
Total	$ 18,253	$ 19,884

Schedule of Principal Payments

Schedule of Principal Payments (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 5,777
2025	5,327
2026	24,377
2027 and thereafter	24,072
Total	$ 59,553

Long-term Debt (Details Narrati

Long-term Debt (Details Narrative)						6 Months Ended
	Jun. 30, 2023 USD ($)	Mar. 23, 2023 USD ($)	Mar. 13, 2023 USD ($)	Dec. 20, 2021 USD ($)	Jul. 08, 2020 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 23, 2023	Jun. 13, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Outstanding balance	$ 59,553,000					$ 59,553,000				$ 65,750,000
Total long-term debt outstanding	$ 59,553,000					$ 59,553,000
Long-term debt, weighted average interest rate, at point in time	8.17%					8.17%	4.30%
Long Term Debt and Promissory Note [Member]
Debt Instrument [Line Items]
Interest expense on long-term debt and promissory note						$ 2,661,000	$ 1,686,000
Secured Loan Fourthone Corp [Member]
Debt Instrument [Line Items]
Minimum cash deposits.	$ 750,000					750,000
Reduced minimum cash deposits	$ 500,000					$ 500,000
Maximum required leverage ratio	75%					75%
Maximum required leverage ratio	34.40%					34.40%
Maximum required leverage ratio	40.60%					40.60%
Minimum security collateral cover required						125%
Secured Loan - Seventhone Corp. [Member]
Debt Instrument [Line Items]
Long term debt balloon payment	$ 11,000,000		$ 8,900,000		$ 9,250,000	$ 11,000,000
Maximum required leverage ratio	75%					75%		75%
Maximum required leverage ratio	34.40%					34.40%
Maximum required leverage ratio	40.60%					40.60%
Minimum security collateral cover required						125%
Total long-term debt					15,250,000
Total long-term debt outstanding	$ 11,950,000		$ 15,050,000			$ 11,950,000
Quarterly installments payable (15 installments)					$ 300,000
Maturity date	March 2026		March 2028		July 2025
Secured Loan - Seventhone Corp. [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument [Line Items]
Interest rate margin	3.35				3.35	3.35
Previous Secured Loan - Seventhone Corp [Member]
Debt Instrument [Line Items]
Total long-term debt					$ 11,293,000
Secured Loan Eightth one Corp [Member]
Debt Instrument [Line Items]
Minimum cash deposits.	$ 500,000					$ 500,000
Secured Loan Eighthone Corp [Member]
Debt Instrument [Line Items]
Minimum cash deposits.	$ 500,000					$ 500,000
Maximum required leverage ratio	75%					75%
Maximum required leverage ratio	34.40%					34.40%
Maximum required leverage ratio	40.60%					40.60%
Minimum security collateral cover required						125%
Secured Loan Tenthone Corp [Member]
Debt Instrument [Line Items]
Loan amount			$ 15,500,000
Minimum cash deposits.	$ 900,000,000					$ 900,000,000
Maximum required leverage ratio	125%					125%
Loan amount			$ 11,500,000
Minimum cash and cash equivalents	$ 2,000,000					$ 2,000,000
[custom:DebtToMarketValueOfAdjustedAssetsMinimumRequiredRatio-0]	300%					300%
Secured Loan Tenthone Corp [Member] | Minimum [Member]
Debt Instrument [Line Items]
Minimum cash deposits.	$ 500,000,000					$ 500,000,000
Fourthone [Member]
Debt Instrument [Line Items]
Loan amount				$ 7,320,000
Outstanding balance				7,320,000
Fourthone [Member] | Pyxis Malou Vessel [Member]
Debt Instrument [Line Items]
Gross proceeds		$ 24,800,000
Payment of debt		6,400,000
Fourthone [Member] | Pyxis Lamda Vessel [Member]
Debt Instrument [Line Items]
Payment of debt		$ 750,000
Eleventhone [Member]
Debt Instrument [Line Items]
Loan amount				21,680,000
Outstanding balance				$ 18,253,000
Quarterly installments	431.67					431.67
Long term debt balloon payment	12,210,000					12,210,000
Interest rate margin				3.15
Eleventhone [Member] | Pyxis Lamda Vessel [Member]
Debt Instrument [Line Items]
Long term debt balloon payment year				2026-12
Eighthone [Member]
Debt Instrument [Line Items]
Loan amount	14,300,000					14,300,000
Quarterly installments	300,000					300,000
Tenthone [Member]
Debt Instrument [Line Items]
Quarterly installments									$ 300,000,000
Tenthone [Member] | Secured Loan - Seventhone Corp. [Member]
Debt Instrument [Line Items]
Quarterly installments	$ 450,000,000					$ 450,000,000

Summary of Restricted Stock (De

Summary of Restricted Stock (Details) - Restricted Stock [Member]	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, outstanding beginning balance | shares
Weighted average grant date price, outstanding beginning balance | $ / shares
Number of shares, granted | shares	55,000
Weighted average grant date price, granted | $ / shares	$ 3.68
Number of shares, vested | shares
Weighted average grant date price, vested | $ / shares
Number of shares, forfeited or expired | shares
Weighted average grant date price, forfeited or expired | $ / shares
Number of shares, outstanding ending balance | shares	55,000
Weighted average grant date price, outstanding ending balance | $ / shares	$ 3.68

Equity Capital Structure and _3

Equity Capital Structure and Equity Incentive Plan (Details Narrative) - USD ($)		1 Months Ended	6 Months Ended
	May 11, 2023	Oct. 31, 2015	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Aug. 23, 2021
Common stock, shares authorized			450,000,000		450,000,000
Preferred stock, shares authorized			50,000,000		50,000,000
Common stock shares outstanding			10,794,812		10,614,319
Preferred stock par value			$ 0.001		$ 0.001
Warrants outstanding			1,591,062	1,590,540	1,590,540
Warrant exercise price per shares			$ 5.60	$ 5.60			$ 8.75
Number of non-tradable warrant to purchase shares of common stock							107,143
General and Administrative Expense			$ 2,002,000	$ 1,312,000
Restricted Stock [Member]
Total unrecognized cost related to restricted share awards			$ 172,000
Unrecognized total compensation cost, over weighted-average period			6 months
Equity Incentive Plan [Member]
Awards granted expiration term		10 years
Description of terms of awards		Under the terms of the EIP, the Company’s Board is able to grant, (a) non-qualified stock options, (b) stock appreciation rights, (c) restricted stock, (d) restricted stock units, (e) unrestricted stock grants, (f) other equity-based or equity-related awards and (g) dividend equivalents. No award may be granted under the EIP after the tenth anniversary of the date the EIP was adopted by our Board.
Mr Valentis [Member]
Non controling ownership percentage			53%				125%
Over-Allotment Option [Member]
Warrants outstanding			4,683	4,683
Employee Stock [Member]
General and Administrative Expense	$ 47,000
Common Stock [Member]
Common stock shares outstanding			10,849,812		10,614,319
Converted Preferred shares			203,924
Preferred shares outstanding			10,794,812		10,614,319
Series A Convertible Preferred Shares [Member]
Preferred stock shares outstanding			403,831		449,473
Preferred stock, shares issued			403,831		449,473
Preferred stock shares conversion price			$ 5.60
Converted Preferred shares			403,831
Series A Convertible Preferred Stock [Member]
Warrants outstanding			4,683
Converted Preferred shares			45,642
Preferred shares outstanding			403,831		449,473
Underwriters Warrants [Member]
Warrants outstanding			3,460
Warrants outstanding			3,460
Warrants outstanding			4,683
Series A Convertible Preferred Shares [Member]
Preferred stock, shares authorized			1,000,000		1,000,000
Preferred stock shares outstanding			403,831		449,473
Preferred stock, shares issued			403,831		449,473
Warrants outstanding						1,591,062
Preferred shares outstanding			403,831
Series A Convertible Preferred Shares and Detachable Warrants [Member]
Preferred stock, shares issued			5,729,730
Warrant exercise price per shares			$ 24.97	$ 24.97
Warrants issued to purchase of securities			4,683	4,683
Cash dividend per share			$ 0.1615
Dividend payable			$ 405,000
Underwriters Warrant [Member]
Warrants issued to purchase of securities			4,000	4,000
Warrants outstanding			3,460
Underwriters Warrants [Member]
Warrants issued to purchase of securities			13,860
Common Stock [Member]
Warrants issued to purchase of securities			4,000	4,000
Warrant exercise price increase			$ 5.60	$ 5.60
Restricted Common Shares [Member] | Employee Stock [Member]
Shares issued to employees	55,000

Schedule of Loss Per Common Sha

Schedule of Loss Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income available to common stockholders, basic	$ 11,452	$ 909
Weighted average number of common shares, basic	10,754,405	10,613,424
Net income per common share, basic	$ 1.06	$ 0.09
Net income available to common stockholders, diluted	$ 11,812	$ 909
Weighted average number of common shares, diluted	12,577,390	10,613,424
Net income per common share, diluted	$ 0.94	$ 0.09

Income per Common Share (Detail

Income per Common Share (Details Narrative) - $ / shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Aug. 23, 2021
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Warrant outstanding	1,591,062	1,590,540	1,590,540
Warrants exercise price	$ 5.60	$ 5.60		$ 8.75
Number of non-tradable warrant to purchase shares of common stock				107,143
Number of unvested warrant to purchase shares of common stock				55
Series A Convertible Preferred Shares [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Converted Preferred shares	403,831
Preferred stock shares conversion price	$ 5.60
Mr Valentis [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Subsidiary, Ownership Percentage, Noncontrolling Owner	53%			125%
Series A Convertible Preferred Shares and Detachable Warrants [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Warrants exercise price	$ 24.97	$ 24.97
Warrants issued to purchase of securities	4,683	4,683
Underwriters Warrant [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Warrants issued to purchase of securities	4,000	4,000
Common Stock [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Warrants issued to purchase of securities	4,000	4,000
Warrant exercise price increase	$ 5.60	$ 5.60
Over-Allotment Option [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Warrant outstanding	4,683	4,683

Schedule of Fair Value of Asset

Schedule of Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Trade accounts receivable	$ 4,146	$ 10,469
Trade accounts payable	2,113	$ 2,604
Carrying Value [Member]
Cash and cash equivalents (including restricted cash)	34,448
Trade accounts receivable	4,146
Trade accounts payable	2,113
Long-term debt with variable interest rates, net	59,553
Carrying Value [Member] | Related Party [Member]
Due to related parties	1,078
Fair Value [Member]
Cash and cash equivalents (including restricted cash)	34,448
Trade accounts receivable	4,146
Trade accounts payable	2,113
Long-term debt with variable interest rates, net	59,553
Fair Value [Member] | Related Party [Member]
Due to related parties	$ 1,078

Schedule of Financial Derivativ

Schedule of Financial Derivative Instrument Location (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Risk Management And Fair Value Measurements
Financial derivative instrument – Other non-current assets		$ 619

Schedule of Gains Losses on Der

Schedule of Gains Losses on Derivative Instruments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Risk Management And Fair Value Measurements
Financial derivative instrument – Fair value at the beginning of the period	$ 619	$ 74
Financial derivative instrument – Amounts received	(560)
Financial derivative instrument – Fair value as at period end		394
Gain/(Loss) from financial derivative instrument	$ (59)	$ 320

Risk Management and Fair Valu_3

Risk Management and Fair Value Measurements (Details Narrative) - USD ($)				6 Months Ended
	Jan. 25, 2023	Jul. 16, 2021	Jan. 19, 2018	Jun. 30, 2023	Jun. 30, 2022
Debt Instrument [Line Items]
Cash gain on derivatives	$ 600,000
Impairment loss				$ 0	$ 0
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Vessel Owing Company [Member]
Debt Instrument [Line Items]
Derivative, notional amount		$ 9,600,000	$ 10,000,000
Derivative, cap interest rate		2%	3.50%
Derivative, maturity date		Jul. 08, 2025	Jul. 18, 2022
Cash gain on derivatives	$ 500,000

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) $ in Thousands	Jun. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Long-term time charter contracts	$ 3,498

Schedule of Interest and Financ

Schedule of Interest and Finance Costs (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Interest And Finance Costs Net
Interest on long-term debt (Note 7)	$ 2,592	$ 1,463
Interest on Promissory Note (Note 3)	69	223
Amortization of financing costs	126	155
Financing fees and charges	21	(12)
Interest from time deposits	(413)
Total	$ 2,395	$ 1,829

Schedule of Revenue Disaggregat

Schedule of Revenue Disaggregated by Revenue Source (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues, net	$ 21,121	$ 22,968
Revenues Derived From Spot Charters [Member]
Disaggregation of Revenue [Line Items]
Revenues, net	3,962	17,194
Revenues Derived From Time Charters [Member]
Disaggregation of Revenue [Line Items]
Revenues, net	$ 17,159	$ 5,774

Schedule of Accounts Receivable

Schedule of Accounts Receivable Disaggregated Revenue (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Accounts receivable trade from spot charters	$ 3,852	$ 10,598
Accounts receivable trade from time charters	383	35
Less: Bad debt provisions	(26)	(26)
Total	4,146	10,469
Revenues Derived From Spot Charters [Member]
Disaggregation of Revenue [Line Items]
Less: Allowance for credit losses	$ (63)	$ (138)

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) $ / shares in Units, $ in Thousands		1 Months Ended		6 Months Ended
	Jul. 29, 2023 USD ($)	Aug. 31, 2023 $ / shares	Jul. 31, 2023 USD ($) t $ / shares	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jul. 30, 2023
Subsequent Event [Line Items]
Convertible preferred stock dividends paid				$ 405	$ 436
Series A Preferred Stock [Member] | Dividend Declared [Member] | Forecast [Member]
Subsequent Event [Line Items]
Dividend declared | $ / shares		$ 0.1615
Subsequent Event [Member] | Secured Loan - Seventhone Corp. [Member]
Subsequent Event [Line Items]
[custom:DebtInstrumentBasisSpreadOnVariableRatePercentage-0]						2.35
Subsequent Event [Member] | Drybulk Joint Venture [Member]
Subsequent Event [Line Items]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures			$ 6,800
[custom:UltramaxBulkCarrierTon-0] | t			63,520
Payments for Purchase of Other Assets			$ 28,500
Short-Term Bank Loans and Notes Payable			$ 19,000
Subsequent Event [Member] | Series A Preferred Stock [Member] | Dividend Paid [Member]
Subsequent Event [Line Items]
Dividend declared | $ / shares			$ 0.1615
Convertible preferred stock dividends paid			$ 65
Subsequent Event [Member] | Series A Preferred Stock [Member] | Dividend Declared [Member]
Subsequent Event [Line Items]
Convertible preferred stock dividends paid	$ 65
Dividend payable date	Aug. 21, 2023
Dividend record of date	Aug. 14, 2023