Globus Maritime Limited Stock Price, News & Analysis

Globus Maritime Limited (NASDAQ: GLBS) announced a new charter for its vessel M/V River Globe, a 53,627-deadweight ton Supramax dry bulk carrier, commencing June 21, 2021. The charter, with an unrelated party, secures a gross daily rate of $29,500 for a duration of three to five months. This is projected to yield approximately $2.74 million for the minimum period and $4.99 million if extended. CEO Athanasios Feidakis emphasized the company's focus on long-term value amidst a strong market.

Globus Maritime Limited (NASDAQ: GLBS) announced the chartering of its vessel M/V River Globe to an unrelated party. The charter began on June 21, 2021, at a gross daily rate of $29,500, with a minimum duration of three months and a maximum of five months. Expected gross revenues range from approximately $2.74 million (minimum period) to $4.07 million (maximum period). CEO Athanasios Feidakis emphasized a strong market and the company's focus on generating long-term value.

Globus Maritime Limited (NASDAQ: GLBS) reported a significant increase in Q1 2021 revenues, rising 126% to $5.2 million compared to Q1 2020. Adjusted EBITDA surged to $1.3 million, a turnaround from a loss in the same period last year. The total comprehensive loss decreased dramatically by 92% to $0.8 million. Cash and bank balances rose to $53.1 million, a 152% increase year-over-year. The fleet expanded to seven vessels, and management expressed optimism about ongoing market improvements post-COVID-19, anticipating further gains in vessel rates and financial stability in the upcoming quarters.

Globus Maritime Limited (NASDAQ: GLBS) announced it will release financial results for the three-month period ending March 31, 2021, after market close on June 18, 2021. The company operates a fleet of seven dry bulk vessels, transporting various cargoes globally, with a total carrying capacity of 463,765 Dwt and an average vessel age of 10.1 years. This release is anticipated by investors for performance insights and market trends.

On June 15, 2021, Globus Maritime Limited (NASDAQ: GLBS) announced the delivery of the M/V “Diamond Globe”, a 2018-built Kamsarmax dry bulk carrier, for $27 million. The vessel, which has a carrying capacity of 82,027 DWT, expands Globus's fleet to seven carriers with a total capacity of 463,765 DWT. The M/V “Diamond Globe” will be chartered to a third party at a daily rate of $27,250, potentially generating up to $5.45 million in gross revenue over six months. Globus also anticipates acquiring another Kamsarmax carrier by Q3 2021, raising fleet capacity to 544,420 DWT.

Globus Maritime Limited (GLBS) has successfully refinanced its fleet of six vessels via a Term Loan Facility from CIT Bank, using the majority of proceeds to repay its previous loan from EnTrust Global’s Blue Ocean Fund.

The refinancing reduces the loan margin from 8.5% to 3.75%, resulting in estimated savings of $1.5 million in 2021 and up to $2.2 million in 2022 compared to previous costs. The company's bank debt after this transaction stands at approximately $34 million, supported by total assets worth around $144 million.

On March 29, 2021, Globus Maritime Limited (NASDAQ: GLBS) filed its annual report on Form 20-F, containing audited financial statements for the fiscal year ending December 31, 2020. The report is available on the company’s website under Investor Relations. Shareholders can request a hard copy of the report at no charge via the company's Investor Relations Advisor, Capital Link Inc. Globus operates a fleet of six dry bulk vessels with a total carrying capacity of 381,738 Dwt and a weighted average age of 11.2 years.

On March 23, 2021, Globus Maritime Limited (NASDAQ: GLBS) announced its agreement to purchase a Kamsarmax vessel from Jiangsu New Yangzi Shipbuilding for $27 million. This acquisition is pending standard closing conditions and is expected to enhance the fleet during Q2 2021. Following this purchase and a previous acquisition, the fleet will expand to eight vessels, totaling 544,420 deadweight tons and decreasing the average vessel age to 9.9 years. The company aims to increase carrying capacity and fuel efficiency, reinforcing its strategic growth.

Globus Maritime Limited (NASDAQ: GLBS) announced that CEO Athanasios Feidakis will present at the Inaugural Emerging Growth Virtual Conference from March 17-19, 2021. This event, hosted by M Vest LLC and Maxim Group LLC, will feature numerous discussions with industry leaders in Shipping, Healthcare, and Technology. Attendees can join the conference by signing up for M-Vest membership. Globus operates a fleet of six dry bulk vessels, transporting various cargoes globally, with a total capacity of 381,738 Dwt.