Globus Maritime Limited reports developments for an integrated dry bulk shipping company that provides marine transportation services worldwide. Its subsidiaries own and operate dry bulk carriers, including Kamsarmax and Ultramax vessels, used to transport iron ore, coal, grain, steel products, cement, alumina and other bulk cargoes internationally.
Company news commonly covers quarterly and annual financial results, time-charter-equivalent performance, freight-rate conditions, vessel employment, fleet composition and vessel transactions. Other recurring items include financing arrangements for vessels, annual shareholder meetings, auditor appointments, share-capital proposals and environmental operating updates such as preparation for maritime regulations and completed biofuel testing.
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.
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.