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

Rhea-AI Summary

Globus Maritime Limited (NASDAQ: GLBS) announced the securing of a new charter for its vessel MV Sky Globe, a Supramax dry bulk carrier. The charter commenced on March 2, 2021, with a minimum duration of four months, potentially extending to six months. This deal is projected to generate approximately $1.67 million in gross revenue for the minimum duration, and up to $3.1 million if extended to the maximum duration. The company aims to cover about 84% of its projected fleet operating expenses for 2021 through this charter.

Positive

• Secured new charter for MV Sky Globe, boosting revenue potential.
• Projected gross revenue of $1.67 million for minimum duration and $3.1 million for maximum duration of charter.
• Coverage of approximately 84% of projected fleet operating expenses for 2021.

Negative

• None.

GLYFADA, Greece, March 03, 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 MV. Sky Globe (a 56,855-deadweight ton Supramax dry bulk carrier built in 2009, at the Kouan Shipbuilding Industry Shipyard).

The vessel has been chartered to an unrelated charterer. The charter commenced on March 2, 2021 and has a minimum duration of four months (minus 15 days) and a maximum duration of six months (plus 15 days) at the charterer’s option, which is expected to generate gross revenue of approximately $1.67 million assuming the charter continues for the minimum scheduled period and approximately $3.1 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:

“Our focus for the first half of 2021 remains on taping the upside of the market, and we are delighted that we have successfully achieved that so far. At this time, we are pleased by assuming on the minimum duration of the charter, we managed to secure around 84% of our projected fleet operating expenses for 2021.”

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 six dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina and other dry bulk cargoes internationally. Globus’ subsidiaries own and operate six vessels with a total carrying capacity of 381,738 deadweight tons and a weighted average age of 11.2 years as of December 31, 2020.

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

FAQ

What is the new charter for MV Sky Globe announced by GLBS?

Globus Maritime Limited announced a new charter for MV Sky Globe that commenced on March 2, 2021, with revenues projected between $1.67 million and $3.1 million.

When did the charter for MV Sky Globe start?

The charter for MV Sky Globe started on March 2, 2021.

How much revenue is expected from the new charter by GLBS?

The new charter is expected to generate approximately $1.67 million for the minimum duration and up to $3.1 million if extended.

What percentage of operating expenses does the new charter cover for GLBS?

The new charter is expected to cover around 84% of Globus Maritime's projected fleet operating expenses for 2021.