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

Rhea-AI Summary

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.

Positive

• Secured new charter for M/V River Globe generating gross revenue of approximately $2.74 million for minimum duration, up to $4.99 million if extended.
• The charter commenced under favorable market conditions, boosting short-term employment.

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 $4.99 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 new charter rate for M/V River Globe?

The new charter rate is $29,500 per day.

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

The charter commenced on June 21, 2021.

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, plus 15 days.

What is the estimated gross revenue from the new charter of M/V River Globe?

The estimated gross revenue is approximately $2.74 million for the minimum duration and about $4.99 million if extended.