Globus Maritime Announces New Charter for the M/V River Globe

Rhea-AI Summary

Globus Maritime Limited (NASDAQ: GLBS) announced the chartering of its vessel M/V River Globe to an unrelated party. The charter began on June 21, 2021, at a gross daily rate of $29,500, with a minimum duration of three months and a maximum of five months. Expected gross revenues range from approximately $2.74 million (minimum period) to $4.07 million (maximum period). CEO Athanasios Feidakis emphasized a strong market and the company's focus on generating long-term value.

Positive

• New charter secured for M/V River Globe at $29,500 per day.
• Expected revenue between $2.74 million and $4.07 million, depending on charter duration.
• Continued strong market performance indicated by management.

Negative

• None.

GLYFADA, Greece, June 23, 2021 (GLOBE NEWSWIRE) -- Globus Maritime Limited (the “Company” or "Globus") (NASDAQ: GLBS), a dry bulk shipping company, announced today that it has secured a new charter employment for its vessel M/V River Globe (a 53,627-deadweight ton Supramax dry bulk carrier built in 2007, at the Yangzhou Dayang Shipbuilding Co. Ltd).

The vessel has been chartered to an unrelated party for a gross daily rate of $29,500. The charter commenced on June 21, 2021 and has a minimum duration of three months and a maximum duration of five months (plus 15 days) at the charterer’s option, which is expected to generate gross revenue of approximately $2.74 million assuming the charter continues for the minimum scheduled period and approximately $4.07 million if the charter continues for the maximum period, in each case assuming no offhire days.

Athanasios (“Thanos”) Feidakis, President and CEO of Globus commented:

“We have secured short term employment as we continue to experience a strong market. We are focused on generating long term value and expect to continue to take advantage of a rising market.”

About Globus Maritime Limited

Globus is an integrated dry bulk shipping company that provides marine transportation services worldwide and presently owns, operates and manages a fleet of seven dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina and other dry bulk cargoes internationally. Globus’ subsidiaries own and operate seven vessels with a total carrying capacity of 463,765 deadweight tons and a weighted average age of 10.2 years as of June 23, 2021.

Safe Harbor Statement

This communication contains “forward-looking statements” as defined under U.S. federal securities laws. Forward-looking statements provide the Company’s current expectations or forecasts of future events. Forward-looking statements include statements about the Company’s expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts or that are not present facts or conditions. Words or phrases such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “will” or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. The Company’s actual results could differ materially from those anticipated in forward-looking statements for many reasons specifically as described in the Company’s filings with the Securities and Exchange Commission. Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this communication. Globus undertakes no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this communication or to reflect the occurrence of unanticipated events. You should, however, review the factors and risks Globus describes in the reports it files from time to time with the Securities and Exchange Commission.

For further information please contact:

Globus Maritime Limited	+30 210 960 8300
Athanasios Feidakis	a.g.feidakis@globusmaritime.gr
Capital Link – New York	+1 212 661 7566
Nicolas Bornozis	globus@capitallink.com

FAQ

What is the daily charter rate for M/V River Globe?

The daily charter rate for M/V River Globe is $29,500.

When did the charter for M/V River Globe commence?

The charter for M/V River Globe commenced on June 21, 2021.

What are the expected revenues from the charter of M/V River Globe?

Expected revenues range from approximately $2.74 million to $4.07 million.

How long is the charter for M/V River Globe?

The charter has a minimum duration of three months and a maximum of five months.

Which company announced the new charter for the M/V River Globe?

The announcement was made by Globus Maritime Limited.