Globus Maritime News

Dry bulk shipping company Globus Maritime has signed a contract for the construction and acquisition of one fuel-efficient bulk carrier of about 64,000 DWT. The vessel will be built at Nihon Shipyard Co. in Japan and is scheduled to be delivered during the first half of 2024. The total consideration for the vessel's construction is approximately $37.5 million, which Globus Maritime plans to finance with a combination of debt and equity. Athanasios Feidakis, President and CEO of Globus…

Dry bulk shipping company Globus Maritime has agreed to buy a 2015-built Kamsarmax vessel built by the Hudong-Zhonghua Shipbuilding shipyard, for $18.4 million, the company said Monday.While the company did not say which vessel exactly it was buying, nor from whom, it is worth noting that just a few days prior, on Friday, October 9, Scorpio Bulkers announced the sale of the SBI Conga, "a Kamsarmax vessel built in 2015, for $18.4 million." Also, SBI Conga was built by Hudong Zhonghua, which corresponds to Globus Maritime's statement, too.Both Scorpio and Globus said in their separate statement that the delivery of the vessel was expected to take place in the fourth quarter of 2020…

For the second year straight, US-based Pangaea Logistics ranks highest among dry bulk owners based on Time Charter Earnings (TCE), according to a recent market benchmarking report.Notably, the Rhode Island-headquartered shipowner's 53.7% TCE performance is well above Hong Kong's Pacific Basin Shipping Ltd. (24.3%) and Thailand's Thoresen Thai Agencies (23.5%) in second and third place respectively.The Vesselindex Performance Report by Danish maritime advisors Liengaard & Roschmann measures the TCE performance of 25 individual companies in relation to the earning potential of their respective fleets, making sure that no company is neither penalized nor getting an advantage from inferior/superior fleet compositions.

Shares of U.S.-listed shippers rose after dry bulk shipper Globus Maritime Ltd posted its first Q3 profit per share in four years. GLBS jumped 10.20 pct, Pyxis Tankers Inc soared 39 pct, nd EuroDry Ltd up 13.2 pct. GLBS says Q3 profit was helped by reducing operational costs by ~25 pct from the last quarter which did not hamper operations, and/or utilization of the fleet.GLBS also posted higher Q3 revenue helped in part by strong demand for dry bulk vessels.

Globus Maritime Limited, a dry bulk shipping company, yesterday reported its unaudited consolidated operating and financial results for the six month period ended June 30, 2017. Athanasios Feidakis, President, Chief Executive Officer and Chief Financial Officer of Globus Maritime Limited, stated: “As the year evolves we are pleased with our efforts bearing fruit. In the first half of 2017 we saw our total revenues increase by 63% compared to the same period last year, we were also able to reduce our debt by about 30% again compared to the first half of last year." He continued, adding, “In February we successfully completed a private placement transaction with a group of investors encompassing a $5 million share purchase of Company’s common shares plus warrants.

Globus Maritime Limited, a dry bulk shipping company, announced today that Dimitrios Stratikopoulos has resigned from its Board of Directors due to other recent pressing business commitments with the resignation taking effect immediately. The Board of Directors has appointed Ioannis Kazantzidis to the Board to replace  Stratikopoulos as an independent Class I, non-executive director effective today. Additionally and on the same day, Kazantzidis has been also appointed to the Company's Audit, Remuneration and Nomination Committees. Ioannis Kazantzidis has over 40 years of experience in the Information Technology Banking and Finance sector.

Shares of many shipping companies dropped in volatile trading, retracing more of their post-U.S. election gains after Seanergy Maritime Holdings on Friday became the latest shipper this week to announce a direct share offer pricing. Seanergy shares were down 28.2 percent at $2.80 after the $3.6 million offering, while shares of Top Ships were down 13.5 percent and shares of Globus Maritime lost 8.9 percent. The losses extend Thursday's decline in many of the shares after DryShips' announcement of a share sale that would give it proceeds of $20 million initially.

Shares of U.S. shipping companies shot higher again on Wednesday, causing volatility halts in a number of stocks and raising questions among investors and analysts over the extent of their sharp post-election rally. The jump in share prices and unusually heavy trading volume even surprised analysts who follow the stocks, although some said the gains appeared to result in part from optimism that commodity demand would increase under President-elect Donald Trump. At the center of the rally has been DryShips Inc…

Globus Maritime Limited, a dry bulk shipping company, announced that its Board of Directors has determined to effect a 1-for-4 reverse stock split of the Company's common shares. At the Company's annual general meeting of shareholders on September 8, 2016, the Company's shareholders approved the reverse stock split and granted the Board the authority to determine the exact reverse split ratio and proceed with the reverse stock split. The reverse stock split will take effect, and the Company's common stock will begin trading on a split-adjusted basis on the Nasdaq Capital Market, as of the opening of trading on October 20, 2016 under the existing trading symbol "GLBS." The new CUSIP number for the common stock following the reverse stock split is Y27265308.

Shipping companies transporting coal, and iron ore and other commodities are urgently seeking ways to conserve cash and withstand the worst market downturn on record as too many ships chase shrinking business. A shortage of financing - estimated at $30 billion and caused in part by banks cutting lending to sectors such as shipping - has also hurt companies, sending some to the wall. "The overall prospects for the dry bulk market are fairly dark - it seems that there is little faith in the market for a recovery. The market mood deteriorates by the day, despite the recent improvement of the Baltic Index," said Basil Karatzas, head of consultancy and brokerage Karatzas Marine Advisors & Co.

Globus Maritime Limited, a dry bulk shipping company, announced today that when Georgios Karageorgiou, a Class I director of Globus Maritime Limited  resigned on December 28, 2015, the Company’s Board of Directors  was comprised of two Class II directors, two Class III directors, and no Class I directors. The Company’s Articles of Incorporation require each class of the Board to consist, as nearly as possible, of an equal number of directors. On December 28, 2015, solely in order to provide for an equal apportionment of the members of the Board among the three classes of the Board, Mr. Athanasios (“Thanos”) Feidakis, resigned from the Board as a Class II director and…

Greek dry bulk shipowner Globus Maritime announced the resignation of Georgios Karageorgiou from the position of president, CEO and interim CFO and Director of Globus Maritime Limited. Karageorgiou is leaving for personal reasons. Athanasios Feidakis, the company's current Non-Executive Director, will replace him as president, CEO and CFO. Feidakis is the son of chairman, Georgios Feidakis. Georgios Feidakis, chairman of Globus Maritime, commented: “We thank Mr. Karageorgiou for his long service to the company and we wish him every success in his future endeavors. Globus is an integrated dry bulk shipping company that provides marine transportation services worldwide and presently owns…

Globus Maritime reported loss in Q3 results amid depressed dry bulk rates though it remains cautiously optimistic on China’s economy and expects demand for dry bulk commodities to remain strong. Total comprehensive loss for the third quarter of the year 2015 amounted to $2.5 million or $0.24 basic loss per share based on 10,264,256 weighted average number of shares, compared to total comprehensive income of $0.2 million for the same period last year or $0.02 basic earnings per share based on 10,236,134 weighted average number of shares. During the three-month period ended September 30, 2015 and 2014, its revenue reached $3.2 million and $6.3 million respectively.

Nasdaq-listed Greek dry bulk shipowner Globus Maritime has received notification from Nasdaq indicating it is in breach of Nasdaq Global Market requirements because the closing bid price of the company’s common stock has been under $1 for the last 30 consecutive business days. The Company no longer meets the minimum bid price continued listing requirement for the Nasdaq Global Market, as set forth in Nasdaq Listing Rule. Pursuant to Nasdaq Listing Rules, the applicable grace period to regain compliance is 180 days, or until May 9, 2016. The Company intends to monitor the closing bid price of its common stock between now and May 9, 2016 and is considering its options…

Greece-based dry bulk shiping company, Globus Maritime has been pushed back into the black by miserable dry bulk rates, but the company has said that it is awaiting market improvements within 2015. George Karageorgiou, President, Chief Executive Officer and Chief Financial Officer of Globus Maritime Limited, stated:  “The first quarter of 2015 was yet another challenging period for our company as our results were negatively affected by the continuation of a depressed dry bulk market with the Baltic Dry Index (BDI) reaching the lowest point in 30 years. “Despite the weak market, we reduced our weighted average debt outstanding by 10.2% to $82.1 million during the first quarter of 2015 compared to $91.4 million during the same period in 2014.

Globus Maritime Announces the Delivery of the Supramax "Sun Globe," Expanding Fleet to Seven Vessels. Globus Maritime Limited ("Globus" or the "Company"), (NASDAQ: GLBS), a dry bulk shipping company, announced that it has taken delivery of the M/V "Sun Globe," a 2007-built Supramax dry bulk carrier it acquired for a purchase price of $30.3 million, which the Company had previously announced in March 2011. The M/V "Sun Globe" was built at the Tsuneishi Heavy Industries Cebu yard and has a carrying capacity of 58,790 DWT. Following delivery, the vessel will continue her deployment under a time charter to Cosco Qingdao at the gross daily rate of $16,000 until (min) January / (max) March 2015.

Globus Maritime Limited (NASDAQ: GLBS), a dry bulk shipping company, reported its unaudited consolidated operating and financial results for the three-month period ended March 31, 2011. The Company also declared a quarterly cash dividend of $0.16 per share for the three-month period ended March 31, 2011. This is the third quarterly cash dividend declared by the Company’s Board of Directors since the listing of its common shares on the NASDAQ Global Market in November 2010. Prior to listing on the NASDAQ…

Globus Maritime Limited (AIM: GLBS) (LSE: GLBS), a company with subsidiaries that own and operate Supramax, Panamax, and Kamsarmax dry bulk vessels, reported its unaudited consolidated interim operating and financial results for the three months (Q2-10) and six months (H1-10) period ended June 30, 2010, and declares an interim cash dividend of GB 7.3 pence (US 11.29 cents) per share. All the following figures are in United States Dollars, except for the dividend which is in British Pence. Globus had five vessels at the end of June 2010 versus seven vessels at the end of June 2009. -- Fleet utilization of 98.3% (H1-09: 98.7%). -- Fleet utilization of 100% (Q2-09: 98.9%).

Globus Maritime Ltd (AIM: GLBS) (LSE: GLBS) announced that on May 19, 2010 it took delivery from an unaffiliated third party of the bulk carrier Sky Globe, the first of two sistership-vessels it had previously agreed to acquire for $32,825,000 each as announced on April 8, 2010. The M/V Sky Globe, built in 2009, is a geared and grab-fitted supramax bulk carrier with a carrying capacity of 56,855 dwt. The vessel was financed from the Company's existing bank facility and cash balances, and will fly the Marshall Islands flag. Following the delivery, the Sky Globe is employed on the spot market: for her first trip she was chartered by a first class European charterer at the gross rate of $30,000 per day.

Globus Maritime Limited (AIM: GLBS) (LSE: GLBS), a marine transportation company that owns and operates a fleet of Handymax and Panamax dry bulk ocean-going vessels, signed a Memorandum of Agreement with an unaffiliated third party for the sale of the M/V Lake Globe, a 1994-built Handymax dry bulk carrier of approximately 43,216 dwt, for the gross price of $16.5m in cash. Delivery to the new owners is expected to take place between November 1 and November 30, 2009, at the option of Globus. Taking depreciation and amortization into account the Company expects to realize a book loss of approximately $3.5m on this sale. Globus intends to utilize the cash proceeds to repay bank debt and strengthen its liquidity.

Globus Maritime Limited (AIM: GLBS) (LSE: GLBS), a marine transportation company that owns and operates Handymax and Panamax dry bulk vessels, announced that a subsidiary of the company has entered into a new time charter agreement for the M/V Tiara Globe with Transgrain Shipping at a gross rate of $20,000 per day, for a minimum of 24 to a maximum of 26 months starting sometime in February 2010. The M/V Tiara Globe is a geared Panamax bulkcarrier built in 1998 with a carrying capacity of 72,929 dwt. George Karageorgiou, Chief Executive of Globus, commented: "We are pleased to announce this new employment agreement for our Panamax vessel, Tiara Globe, which enhances the stability and predictability of our revenues and cash flows.

Globus Maritime Limited (AIM: GLBS) (LSE: GLBS), the owner and operator of Handymax and Panamax dry bulk vessels, announces that it has delivered the Handymax vessels Coral Globe (built in 1994) and Sea Globe (built in 1995) to their new owners, two unaffiliated third parties. George Karageorgiou, Chief Executive of Globus, said, "We have today concluded the sale of the last two of our vessels built in the mid-1990s. Taking advantage of the cash on our balance sheet and the available bank facilities, we will seek to acquire younger assets that will generate value for our shareholders. Elias Deftereos, Chief Financial Officer, said, "In the middle of turbulent times, Globus has today a very healthy balance sheet as our cash balances today exceed $68.4m.

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.