Globus Maritime Limited Stock Price, News & Analysis

Globus Maritime Limited (GLBS) reported a significant turnaround in its financial performance for the nine-month period ended September 30, 2021. Total revenues surged 217% to $24.8 million, driven by increased voyage revenues and time charter rates. The company achieved a comprehensive income of $4.8 million, reversing a loss of $14.5 million from the previous year. Cash and bank balances grew by 222% to $67.9 million. The Adjusted EBITDA rose to $12.2 million, indicating improved operational efficiency, despite increased vessel operating expenses. Management remains optimistic about market conditions.

Globus Maritime Limited (NASDAQ: GLBS) announced that it will release its financial results for the three- and nine-month periods ended September 30, 2021, on November 30, 2021, after market close. The company operates a fleet of eight dry bulk vessels with a total carrying capacity of 544,420 DWT and an average age of 10.6 years. Globus provides marine transportation services globally, specializing in transporting various dry bulk cargoes such as iron ore, coal, and grain.

Globus Maritime Limited (GLBS) announced a strong financial performance for H1 2021, with total revenues up 161% to $12 million compared to H1 2020. Adjusted EBITDA rose significantly, reflecting enhanced operational efficiency. The total comprehensive loss decreased by 94% to $789,000. Cash and bank balances surged 272% to $78.5 million, while outstanding borrowings fell to $34.25 million. The company also expanded its fleet with the acquisition of two vessels and plans to acquire another in Q4 2021, positioning itself to capitalize on favorable market conditions.

Globus Maritime Limited (GLBS), a dry bulk shipping company, will announce its financial results for the quarter and six months ending June 30, 2021, after the market closes on September 27, 2021. The company operates a fleet of eight dry bulk vessels with a total capacity of 544,420 DWT and an average age of 10.4 years. Globus provides marine transportation services for various cargoes globally, including iron ore, coal, and grain.

On September 23, 2021, Globus Maritime Limited (NASDAQ: GLBS) held its annual meeting of shareholders in Glyfada, Greece. Key decisions included the election of Mr. Jeffrey O. Parry as Class II director until the 2024 Annual Meeting, and the appointment of Ernst & Young (Hellas) as independent auditors for the fiscal year ending December 31, 2021. Globus operates a fleet of eight dry bulk vessels with a total carrying capacity of 544,420 DWT, primarily transporting various dry bulk cargoes worldwide.

Globus Maritime Limited (NASDAQ: GLBS) announced its annual meeting of shareholders scheduled for September 23, 2021, at 11:00 a.m. local time in Glyfada, Greece. Shareholders of record as of August 17, 2021, are entitled to vote at the meeting. The formal notice and proxy statement will be sent to shareholders and are available on the Company’s website. Globus operates a fleet of eight dry bulk vessels with a total capacity of 544,420 DWT and an average age of 10.3 years.

On August 23, 2021, Globus Maritime Limited (NASDAQ: GLBS) announced the chartering of two vessels, M/V Sun Globe and M/V Moon Globe. The M/V Sun Globe will generate gross revenue between $4.4 million and $7.3 million over a minimum of five months at a daily rate of $32,000. The M/V Moon Globe is expected to yield $4.1 million to $6.7 million at a daily rate of $29,250, also over a minimum of five months. Both contracts commenced on August 15, 2021, and are significantly higher than previous rates. CEO Athanasios Feidakis emphasized the company's focus on growth and value creation.

Globus Maritime Limited (NASDAQ: GLBS) announced on July 21, 2021, the delivery of the M/V Power Globe, a Kamsarmax dry bulk carrier acquired for $16.2 million. Built in 2011 by Universal Shipbuilding Corporation, the vessel has a carrying capacity of 80,655 DWT. This acquisition expands Globus' fleet to eight dry bulk carriers with a total capacity of 544,420 DWT and a weighted average age of 10.2 years.

Globus Maritime Limited (GLBS) announced a securities purchase agreement to issue 10 million common shares and purchase warrants for $5.00 per share, aiming for gross proceeds of approximately $50 million. The offering is set to close on June 29, 2021, subject to customary conditions. Maxim Group LLC is the placement agent for the offering, which is registered under a prior SEC statement. The company operates a fleet of seven dry bulk vessels, transporting various cargoes worldwide.