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Globus Maritime Limited News

05 Oct 2017

Globus Maritime Posts 63% Increase in Revenues

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, â€śIn 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.

23 Nov 2016

Globus Maritime Appoints New Non Executive Director

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.

11 Oct 2016

Globus Maritime Mulls 1-for-4 Reverse Stock Split

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.

06 Feb 2016

Globus Maritime Reclassifies Board Member

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…

29 Dec 2015

Globus Maritime CEO Steps Down

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…

02 Dec 2015

Globus Maritime Reports Loss in Q3

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.

25 Jun 2015

Globus Maritime Reports Q1 Loss

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:  â€śThe 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.

17 Sep 2011

Globus Maritime Expands Fleet to Seven with Supramax Delivery

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.

11 May 2011

Globus Maritime Limited Reports Financial Results

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…

10 Sep 2010

Globus Maritime Q2 & Six Month Results

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%).

22 Feb 2010

Globus Maritime Delivers Dry Bulk Vessels

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.

28 Jan 2010

Globus Maritime Charter for the Tiara Globe

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.

13 Oct 2009

Globus Maritime Sells Handymax Dry Bulk Carrier

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.

08 May 2009

Globus Maritime to Sell Dry Bulk Carrier

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.

16 Nov 2007

Globus Maritime Ltd. Announces 3Q Results

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.

14 Sep 2007

Globus to Expand Fleet

Globus Maritime Limited has entered into an agreement with an unaffiliated third party in order to acquire a 1998- built 72,929 dwt geared Panamax bulkcarrier, for an agreed purchase price of $66.8m. M/V Tiara Globe and will fly the Marshall Islands flag. On completion of this acquisition, Globus’ fleet will comprise a total of eight modern dry bulkcarriers, consisting of six Handymaxes and two Panamaxes, with a weighted average age of approximately 10.7 years as at December 31, 2007 and with a total carrying capacity of 415,558 dwt. The six vessels in Globus’ current trading fleet are under medium and long term charters with reputable charterers.