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 Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Shell CEO: US Should Export Oil, Embrace Global Markets

The head of energy company Royal Dutch Shell said on Tuesday that U.S. policymakers should lift the crude oil export ban because allowing the shipments would make global energy system more stable.

SUNY Maritime Takes the Ice Bucket Challenge

Taking full advantage of one of the summer’s hottest days, twelve administrators and staff at the State University of New York (SUNY) Maritime College today took the Ice Bucket Challenge,

Fraunhofer Researchers Improve Underwater Images

Videos and images of the submarine world are important for the maritime industry. Researchers from Fraunhofer IGD will show how underwater images can be improved

Vessels

Vard Orders Parat Electric Steam & Hot Water Boilers

During the last month, PARAT Halvorsen AS has collected four new boiler plant orders from the Vard Group and their multipurpose platform ships of Vard 1 08 design.

Imtech Marine Nav/Com Partner for Groen OSV

The first newbuild ship in a series of three offshore support vessels (OSVS) for shipowner Groen (Scheveningen), 7-Oceans, was delivered at Damen Maaskant Shipyards in Stellendam,

Chloropac Anti-Fouling Selected for Largest Decommissioning Vessel

Allseas Group S.A., a global offshore pipe installation and subsea construction company, has selected Evoqua Water Technologies’ Chloropac electrochlorination system

 
 
Maritime Contracts Maritime Security Offshore Oil Pipelines Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1518 sec (7 req/sec)