Greece’s Pyxis Tankers is preparing for its next round of fleet expansion, planning to acquire at least three ships by the end of next year as financing lines open up.

The Nasdaq-listed owner said it is keeping a cautious stance amid volatile macroeconomic and geopolitical conditions but sees attractive buying opportunities ahead in both the product tanker and dry bulk sectors.

Management said the refinancing of two tankers, set to close in December 2025, will free up an additional $10m in cash. Combined with a previously secured “hunting license” loan facility of up to $45m, Pyxis expects to have the firepower to “promptly fund the possible acquisition of at least three vessels by January 2027.”

Earlier this year, the Valentios (Eddie) Valentis-led company signalled its appetite for expansion when it secured a commitment letter for the $45m facility. At the time, Pyxis said it was targeting modern product tankers between 45,000 dwt and 115,000 dwt, or bulk carriers between 60,000 dwt and 85,000 dwt.

Pyxis currently counts six vessels in its portfolio — three product tankers and three bulkers—built between 2013 and 2017.