Globus Maritime to Sell Dry Bulk Carrier

Friday, May 08, 2009

Globus Maritime Limited (AIM: GLBS.L), a marine transportation company that owns and operates a fleet of Handymax and Panamax dry bulk ocean-going vessels, announced that it has signed a Memorandum of Agreement with an unaffiliated third party for the sale of the M/V Island Globe, a 1995-built Panamax dry bulk carrier, for the gross price of $19.1m in cash.

Delivery to the new owners is expected to take place between June 1, 2009 and October 20, 2009, at the option of Globus.

Once the sale is concluded and taking depreciation into account, the company expects to realize a capital loss of approximately $13.5m as the vessel had been purchased in July 2007 for $37.9m. Globus intends to utilize the proceeds from this sale to repay bank debt and strengthen its liquidity.

Globus is a global provider of seaborne transportation services for dry bulk cargoes, including among others iron ore, coal, grain, cement, and fertilizers, along worldwide shipping routes. Following the delivery of the Island Globe to her new owners, the company will own and operate five Handymax vessels and one Panamax vessel, with a weighted average age of approximately 11.3 years as at April 30, 2009 and a total carrying capacity of 299,250 dwt.

(www.globusmaritime.gr)

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

Ship Sales

Kvichak-built Hovercraft for Sale

The 95’ BHT-150 hovercraft SUNAX, built by Kvichak Marine Industries and owned and operated by Aleutians East Borough, is for sale through public competitive bid.

Litigation Can Cost Shipbrokers an Arm & a Leg

A survey of London solicitors by specialist intermediaries insurer ITIC has highlighted the high cost of litigation for shipbrokers and others seeking judgment in the English courts,

Scorpio Tankers' Latest Sale & Purchase Deals

Scorpio Tankers says it recorded a gain of US$51-million from the sale of the 7 VLCC newbuilding contracts announced earlier. In March 2014, the Company received

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.0959 sec (10 req/sec)