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Globus Maritime Limited (GLBS) is a dry bulk shipping company dedicated to providing marine transportation services on a global scale. The company owns, manages, and operates a fleet of vessels that transport a wide range of dry bulk cargo, including iron ore, coal, grain, steel products, cement, alumina, and other materials. Their fleet is optimized for efficiency and reliability, ensuring timely deliveries across international waters.
The core of their operations revolves around maximizing revenue by offering customers the use of their vessels for transporting bulk commodities. To achieve this, Globus Maritime leverages its subsidiary, which handles in-house commercial and technical management of the vessels. This integrated management approach not only enhances operational efficiency but also provides additional consulting services to an affiliated ship management company.
In recent developments, the company's Board of Directors approved the adoption of a Clawback Policy on November 8, 2023. This policy, effective from October 2, 2023, aligns with the final clawback rules adopted by the Securities and Exchange Commission and the Nasdaq Listing Rule 5608. This move underscores the company's commitment to compliance and transparency in financial matters.
Globus Maritime's current fleet deployment ensures optimal utilization of its vessels, catering to the diverse needs of its global clientele. The company continues to focus on expanding its operations and enhancing its service delivery to maintain its competitive edge in the maritime industry.
Globus Maritime reported its Q3 and 9M 2024 financial results. Q3 revenue reached $9 million with a net loss of $0.6 million, while 9M 2024 showed revenue of $26.2 million with net income of $2.4 million. The company's Time Charter Equivalent rate increased to $13,867 per day in Q3 2024, up 39% from Q3 2023. The fleet consists of nine dry bulk carriers with a total capacity of 652,432 DWT and an average age of 7.4 years. Notable developments include the delivery of a new Ultramax vessel and agreements to acquire two Kamsarmax vessels.
Globus Maritime (NASDAQ: GLBS), a global dry bulk shipping company, has announced it will release its financial results for the third quarter and nine months ended September 30, 2024, after the New York market closes on Friday, November 29, 2024. The company currently operates a fleet of nine dry bulk vessels with a total carrying capacity of 652,432 Dwt and an average age of 7.4 years. These vessels transport various cargo including iron ore, coal, grain, steel products, cement, and alumina worldwide.
Globus Maritime (NASDAQ: GLBS) has signed agreements to acquire two Kamsarmax scrubber outfitted dry bulk vessels. The first is a 2016-built vessel with 81,119 dwt capacity for $27.5 million, and the second is a 2014-built vessel with 81,817 dwt capacity for $26.5 million. Initial payments of $18.0 million and $17.0 million will be made upon delivery, with remaining balances due within one year. Both vessels are owned by entities related to the Chairman and CEO, with purchases approved by independent directors. Delivery is expected in Q4 2024, funded by cash on hand. Post-acquisition, Globus's fleet will consist of ten vessels with 734,249 dwt total capacity.
Globus Maritime (NASDAQ: GLBS), a dry bulk shipping company, announced the delivery of the M/V “Glbs Magic,” a 2024-built Ultramax dry bulk carrier, on September 20, 2024. Built at Nantong COSCO KHI Ship Engineering Co., , the vessel has a carrying capacity of approximately 64,000 DWT. This marks the third Ultramax newbuilding received by Globus this year. The M/V “Glbs Magic” has been chartered to a reputable European operator at a gross daily rate of 124% of the Baltic Supramax Index 10 TC routes for about one year. This acquisition expands Globus' fleet to eight vessels, with a total carrying capacity of around 571,313 DWT.
Globus Maritime (NASDAQ: GLBS) reported its Q2 and H1 2024 financial results. Key highlights include:
- Q2 2024 revenue: $9.5 million
- Q2 2024 net income: $3.3 million
- Q2 2024 Adjusted EBITDA: $4 million
- Q2 2024 Time Charter Equivalent (TCE): $14,578 per day
The company delivered two new Ultramax vessels in 2024: GLBS Hero (64,000 DWT) in January and GLBS Might (64,000 DWT) in August. Globus also sold its 2005-built Moon Globe for $11.5 million. The company's fleet now consists of seven dry bulk carriers with a weighted average age of 7.9 years.
Globus secured new financing, including a $28 million sale and leaseback agreement for GLBS Might and a $23 million loan facility for GLBS Hero. The company remains focused on fleet renewal and expansion with modern, fuel-efficient vessels.
Globus Maritime (NASDAQ: GLBS), a dry bulk shipping company, held its annual meeting of shareholders on September 12, 2024, in Glyfada, Greece. The shareholders approved two key proposals:
1. The election of Mr. Jeffrey O. Parry and Ms. Christina Tampourea as Class II directors, who will serve until the 2027 Annual Meeting of Shareholders.
2. The appointment of Ernst & Young (Hellas) Certified Auditors Accountants S.A. as the company's independent auditors for the fiscal year ending December 31, 2024.
These decisions reflect the company's commitment to corporate governance and financial transparency.
Globus Maritime (NASDAQ: GLBS), a dry bulk shipping company, has announced that it will release its financial results for the second quarter and first half of 2024 on Thursday, September 12, 2024, after the New York market closes. The company, based in Glyfada, Greece, operates in the dry bulk shipping sector and is listed on the NASDAQ stock exchange. This upcoming financial report will provide investors and analysts with important information about Globus Maritime's performance during the first six months of 2024, potentially impacting the company's stock price and market perception.
Globus Maritime (NASDAQ: GLBS), a dry bulk shipping company, has announced its annual meeting of shareholders. The meeting is scheduled for September 12, 2024, at 11:00 a.m. local time, and will be held at the offices of Globus Shipmanagement Corp. in Glyfada, Greece. Shareholders of record as of August 8, 2024, are eligible to receive notice and vote at the meeting. The company has made the Notice of the Annual Meeting of Shareholders and Proxy Statement available for free on their website in the investors section. Formal notice and proxy statement will be sent to shareholders in due course.
Globus Maritime (NASDAQ: GLBS) reported unaudited financial results for Q1 2024. Revenue decreased to $7.7 million from $8.6 million in Q1 2023. Adjusted EBITDA rose to $2 million from $1.3 million. TCE per day increased to $11,862 from $8,780. The fleet consists of seven dry bulk carriers. The company took delivery of a new Ultramax vessel in January 2024 and sold the Moon Globe vessel for $11.5 million. A $28 million sale and leaseback agreement was entered for another vessel. Net loss was $0.3 million compared to a net income of $2.6 million in Q1 2023. Basic and diluted loss per share was $0.01.
Globus Maritime (NASDAQ: GLBS), a dry bulk shipping company, announced it will release its financial results for Q1 2024 on June 7, 2024, after the market closes.
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