Welcome to our dedicated page for Globus Maritime news (Ticker: GLBS), a resource for investors and traders seeking the latest updates and insights on Globus Maritime stock.
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.
On June 15, 2021, Globus Maritime Limited (NASDAQ: GLBS) announced the delivery of the M/V “Diamond Globe”, a 2018-built Kamsarmax dry bulk carrier, for $27 million. The vessel, which has a carrying capacity of 82,027 DWT, expands Globus's fleet to seven carriers with a total capacity of 463,765 DWT. The M/V “Diamond Globe” will be chartered to a third party at a daily rate of $27,250, potentially generating up to $5.45 million in gross revenue over six months. Globus also anticipates acquiring another Kamsarmax carrier by Q3 2021, raising fleet capacity to 544,420 DWT.
Globus Maritime Limited (GLBS) has successfully refinanced its fleet of six vessels via a Term Loan Facility from CIT Bank, using the majority of proceeds to repay its previous loan from EnTrust Global’s Blue Ocean Fund.
The refinancing reduces the loan margin from 8.5% to 3.75%, resulting in estimated savings of $1.5 million in 2021 and up to $2.2 million in 2022 compared to previous costs. The company's bank debt after this transaction stands at approximately $34 million, supported by total assets worth around $144 million.
On March 29, 2021, Globus Maritime Limited (NASDAQ: GLBS) filed its annual report on Form 20-F, containing audited financial statements for the fiscal year ending December 31, 2020. The report is available on the company’s website under Investor Relations. Shareholders can request a hard copy of the report at no charge via the company's Investor Relations Advisor, Capital Link Inc. Globus operates a fleet of six dry bulk vessels with a total carrying capacity of 381,738 Dwt and a weighted average age of 11.2 years.
On March 23, 2021, Globus Maritime Limited (NASDAQ: GLBS) announced its agreement to purchase a Kamsarmax vessel from Jiangsu New Yangzi Shipbuilding for $27 million. This acquisition is pending standard closing conditions and is expected to enhance the fleet during Q2 2021. Following this purchase and a previous acquisition, the fleet will expand to eight vessels, totaling 544,420 deadweight tons and decreasing the average vessel age to 9.9 years. The company aims to increase carrying capacity and fuel efficiency, reinforcing its strategic growth.
Globus Maritime Limited (NASDAQ: GLBS) announced that CEO Athanasios Feidakis will present at the Inaugural Emerging Growth Virtual Conference from March 17-19, 2021. This event, hosted by M Vest LLC and Maxim Group LLC, will feature numerous discussions with industry leaders in Shipping, Healthcare, and Technology. Attendees can join the conference by signing up for M-Vest membership. Globus operates a fleet of six dry bulk vessels, transporting various cargoes globally, with a total capacity of 381,738 Dwt.
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.
On February 17, 2021, Globus Maritime Limited (NASDAQ: GLBS) successfully closed a registered direct offering of 4.8 million common shares, resulting in gross proceeds of approximately $30 million. The offering was facilitated by Maxim Group LLC. Additionally, Globus has entered into an agreement to purchase a Kamsarmax vessel for $16.5 million, with potential price adjustments based on delivery dates. Following this acquisition, Globus's fleet will grow to seven vessels with an aggregate capacity of 462,393 deadweight tons, enhancing its operational capabilities in the dry bulk shipping market.
Globus Maritime Limited (NASDAQ: GLBS) announced a registered direct offering to issue 4.8 million common shares and warrants for a total of approximately $30 million. Each common share and warrant has a purchase price of $6.25, and warrants will be exercisable immediately at the same price for five and a half years. The offering is expected to close around February 17, 2021. Maxim Group LLC acts as the placement agent. The shares are offered under an effective shelf registration statement filed with the SEC.
Globus Maritime Limited (NASDAQ: GLBS) has announced a new charter for its vessel Sun Globe, a Supramax dry bulk carrier, commencing February 1, 2021. This charter has a minimum duration of four months, with potential extension up to six months, generating estimated gross revenue of $1.25 million to $2.3 million based on duration. CEO Athanasios Feidakis noted that securing this charter covers approximately 65% of projected operating expenses for 2021.
On January 27, 2021, Globus Maritime Limited (GLBS) announced a registered direct offering involving 2.6 million common shares and warrants for an estimated gross proceeds of approximately $16.3 million. The purchase price is set at $6.25 per common share, with warrants exercisable immediately at the same price. Additionally, the exercise price of previously issued warrants has been reduced from $8.50 to $6.25. The offering is expected to close on or about January 29, 2021, subject to customary conditions. Maxim Group LLC is the sole placement agent for this transaction.
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