Globus Maritime to Acquire Supramax Carriers

Friday, April 09, 2010

Globus Maritime Ltd (AIM: GLBS) (LSE: GLBS), a global shipping transportation company that owns and operates Supramax and Panamax dry bulk carriers, announced that in line with its fleet renewal program it has agreed to purchase from an unaffiliated third party two geared and grab-fitted sistership 57,000 dwt Supramax vessels built at an established Chinese yard, for $32,825,000 each.

The first vessel was built in the fourth quarter of 2009 and is expected to be delivered to the company by the end of June 2010. The second vessel, a newbuilding, is currently under construction and is expected to be delivered to the Company by the end of May 2010. Upon delivery to the company both vessels will fly the Marshall Islands flag.

Both vessels will be financed from the company's existing bank facility and existing cash balances. The company is currently negotiating the employment for these vessels and it is intended that one vessel will be fixed on a one-year time charter while the second vessel will be employed on the spot market.

On completion of this acquisition, Globus' fleet will comprise a total of four modern dry bulk carriers, consisting of three Supramaxes and one Panamax, with a total carrying capacity of 240,429 dwt and a weighted average age of just over four years.

George Karageorgiou, Chief Executive of Globus Maritime, commented: "Consistent with our strategy to own modern assets and our view regarding the dry bulk market, we have today initiated our investment program by adding two new sistership Supramax vessels to our fleet. Their acquisition occurs during this low phase of the shipping cycle, and is expected to significantly enhance our earnings, while decreasing the weighted average age of our fleet. As our investment program is implemented over the next two years we are confident that Globus will generate shareholder value."
 

Maritime Today


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

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

People & Company News

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Maersk to Scrap Ships at India's Alang Beaches, NGO Dismayed

Maersk Line said on Friday it had chosen four shipbreaking yards along India's Alang beaches to handle an increase in vessels that need to be scrapped, to the dismay

Teknotherm Marine Moves HVAC Arm to Bergen

Maritime heating, ventilation and air conditioning (HVAC) firm Teknotherm Marine has established a new subsidiary is established with the name Teknotherm Marine HVAC AS.

Vessels

Nordana Sea Delivered to Symphony Shipping

After successful sea trials, M.V. Nordana Sea was delivered to Symphony Shipping on February 11, 2016. Constructed by builder Ferus-Smit in the Netherlands (yard number 419),

Maersk to Scrap Ships at India's Alang Beaches, NGO Dismayed

Maersk Line said on Friday it had chosen four shipbreaking yards along India's Alang beaches to handle an increase in vessels that need to be scrapped, to the dismay

Video: Catapult Testing on Aircraft Carrier Abraham Lincoln

U.S. shipbuilder Huntington Ingalls Industries’ (HII) Newport News Shipbuilding division has begun testing the updated catapult systems aboard the U.S. Navy aircraft

 
 
Maritime Careers / Shipboard Positions Maritime Security Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.0969 sec (10 req/sec)