Globus Maritime Ltd. Announces 3Q Results

Friday, November 16, 2007
Globus Maritime Limited (AIM:GLBS), a marine transportation company that owns and operates Handymax and Panamax dry bulk ocean-going vessels, has announced its trading update and financial highlights for the three months and nine months ended September 30, 2007. The company's fiscal year ends on December 31st. Globus Maritime Limited began operations on September 15, 2006. In June 2007 Globus successfully raised $50m by way of a placing and its shares were admitted to AIM. At the time of the IPO Globus owned 5 vessels and the net proceeds of $46.6m were utilized to fund fleet expansion. Revenues were $12.3m while operating expenses were $2.1m. The company reported an EBITDA of $8.9m and cash flow from operations of $8.1m. Net Income was $4.6m with an Average Time Charter Equivalent (TCE) rate of US$21,837 per vessel per day with an average 5.9 vessels operated. Fleet utilization rose to 100%. In September 2007, the Company paid to Shareholders on record on September 7, 2007, its first interim dividend as a public company, in the amount of $2.86 per share), or $0.82m in total. This interim dividend was based on the net income of $1.62m for the single month of June 2007, the only month during the first half of 2007 that Globus operated as a public company.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

Cenac Marine to Christen New Vessel, Donate Barge

A ceremony will be held July 29 at Cenac Marine Services headquarters in, Houma, La. To commemorate the christening of its newest vessel, M/V Quincey Cenac, as

Concordia Maritime Posts Q2 Profit

Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0769 sec (13 req/sec)