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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 Limited (GLBS) announced a strong financial performance for H1 2021, with total revenues up 161% to $12 million compared to H1 2020. Adjusted EBITDA rose significantly, reflecting enhanced operational efficiency. The total comprehensive loss decreased by 94% to $789,000. Cash and bank balances surged 272% to $78.5 million, while outstanding borrowings fell to $34.25 million. The company also expanded its fleet with the acquisition of two vessels and plans to acquire another in Q4 2021, positioning itself to capitalize on favorable market conditions.
Globus Maritime Limited (GLBS), a dry bulk shipping company, will announce its financial results for the quarter and six months ending June 30, 2021, after the market closes on September 27, 2021. The company operates a fleet of eight dry bulk vessels with a total capacity of 544,420 DWT and an average age of 10.4 years. Globus provides marine transportation services for various cargoes globally, including iron ore, coal, and grain.
On September 23, 2021, Globus Maritime Limited (NASDAQ: GLBS) held its annual meeting of shareholders in Glyfada, Greece. Key decisions included the election of Mr. Jeffrey O. Parry as Class II director until the 2024 Annual Meeting, and the appointment of Ernst & Young (Hellas) as independent auditors for the fiscal year ending December 31, 2021. Globus operates a fleet of eight dry bulk vessels with a total carrying capacity of 544,420 DWT, primarily transporting various dry bulk cargoes worldwide.
Globus Maritime Limited (NASDAQ: GLBS) announced its annual meeting of shareholders scheduled for September 23, 2021, at 11:00 a.m. local time in Glyfada, Greece. Shareholders of record as of August 17, 2021, are entitled to vote at the meeting. The formal notice and proxy statement will be sent to shareholders and are available on the Company’s website. Globus operates a fleet of eight dry bulk vessels with a total capacity of 544,420 DWT and an average age of 10.3 years.
On August 23, 2021, Globus Maritime Limited (NASDAQ: GLBS) announced the chartering of two vessels, M/V Sun Globe and M/V Moon Globe. The M/V Sun Globe will generate gross revenue between $4.4 million and $7.3 million over a minimum of five months at a daily rate of $32,000. The M/V Moon Globe is expected to yield $4.1 million to $6.7 million at a daily rate of $29,250, also over a minimum of five months. Both contracts commenced on August 15, 2021, and are significantly higher than previous rates. CEO Athanasios Feidakis emphasized the company's focus on growth and value creation.
Globus Maritime Limited (NASDAQ: GLBS) announced on July 21, 2021, the delivery of the M/V Power Globe, a Kamsarmax dry bulk carrier acquired for $16.2 million. Built in 2011 by Universal Shipbuilding Corporation, the vessel has a carrying capacity of 80,655 DWT. This acquisition expands Globus' fleet to eight dry bulk carriers with a total capacity of 544,420 DWT and a weighted average age of 10.2 years.
Globus Maritime Limited (GLBS) announced a securities purchase agreement to issue 10 million common shares and purchase warrants for $5.00 per share, aiming for gross proceeds of approximately $50 million. The offering is set to close on June 29, 2021, subject to customary conditions. Maxim Group LLC is the placement agent for the offering, which is registered under a prior SEC statement. The company operates a fleet of seven dry bulk vessels, transporting various cargoes worldwide.
Globus Maritime Limited (NASDAQ: GLBS) announced a new charter for its vessel M/V River Globe, a 53,627-deadweight ton Supramax dry bulk carrier, commencing June 21, 2021. The charter, with an unrelated party, secures a gross daily rate of $29,500 for a duration of three to five months. This is projected to yield approximately $2.74 million for the minimum period and $4.99 million if extended. CEO Athanasios Feidakis emphasized the company's focus on long-term value amidst a strong market.
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.
Globus Maritime Limited (NASDAQ: GLBS) reported a significant increase in Q1 2021 revenues, rising 126% to $5.2 million compared to Q1 2020. Adjusted EBITDA surged to $1.3 million, a turnaround from a loss in the same period last year. The total comprehensive loss decreased dramatically by 92% to $0.8 million. Cash and bank balances rose to $53.1 million, a 152% increase year-over-year. The fleet expanded to seven vessels, and management expressed optimism about ongoing market improvements post-COVID-19, anticipating further gains in vessel rates and financial stability in the upcoming quarters.
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