Globus Maritime Limited Signs New Building Agreements for the Acquisition of two Fuel Efficient 64,000-DWT Motor Bulk Carriers
Globus Maritime Limited (GLBS) announced contracts for two fuel-efficient bulk carriers, each with a capacity of approximately 64,000 DWT, to be built in China. The total cost for both vessels is about $70.3 million, expected to be financed through a mix of debt and cash. The first ship is projected for delivery in Q3 2024 and the second in Q4 2024. CEO Athanasios Feidakis highlighted the strategic importance of these newbuildings, aiming to enhance shareholder value and improve the company's operational capabilities.
- Acquisition of two fuel-efficient bulk carriers enhances fleet capabilities.
- Total cost of approximately $70.3 million may provide competitive advantages in operational efficiency.
- Expected delivery in Q3 and Q4 of 2024 aligns with growth strategies.
- Financing through debt and cash may strain financial resources.
- Potential risks associated with newbuilds, including construction delays and cost overruns.
GLYFADA, Greece, May 18, 2022 (GLOBE NEWSWIRE) -- Globus Maritime Limited ("Globus," the “Company," “we,” or “our”), (NASDAQ: GLBS), a dry bulk shipping company, announced today that it has signed two contracts for the construction and purchase of two fuel efficient bulk carriers of about 64,000 DWT each. The sister ships will be built at Nantong COSCO KHI Ship Engineering Co., Ltd. in China with the first one scheduled to be delivered during the third quarter of 2024 and the second one scheduled during the fourth quarter of 2024. The total consideration for the construction of both vessels is approximately
Athanasios Feidakis President and CEO of Globus commented:
“We are pleased to announce the ordering of our second and third Ultramax newbuildings from a reputable shipbuilder. Steadily, we continue to try and enhance shareholder value and growth. Our newbuildings are being designed with what we believe to be high technological standards, which gives us comfort that the ships should be better equipped to handle challenges in our industry.”
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 nine dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina and other dry bulk cargoes internationally. Globus’ subsidiaries own and operate nine vessels with a total carrying capacity of 626,257 DWT and a weighted average age of 10.4 years as of March 31, 2022.
Forward Looking 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,” “can,” “continue,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “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 at 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 will file from time to time with the Securities and Exchange Commission after the date of this communication.
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 total cost of the new bulk carriers announced by Globus Maritime?
When are the new bulk carriers scheduled for delivery?
How will the newbuilds impact Globus Maritime's operations?
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