ATHENS, GREECE--(Marketwire - May 20, 2010) - Globus Maritime Ltd ("Globus" or the "Company") (
The M/V "Sky Globe," built in 2009, is a geared and grab-fitted supramax bulk carrier with a carrying capacity of 56,855 dwt. The vessel was financed from the Company's existing bank facility and cash balances, and will fly the Marshall Islands flag.
Following the delivery, the "Sky Globe" is employed on the spot market: for her first trip she was chartered by a first class European charterer at the gross rate of US$30,000 per day.
The second vessel, a newbuilding which is currently under construction, will be named "Star Globe" upon her delivery, which is scheduled for later this month. The "Star Globe" has been time chartered to Transgrain Shipping at the gross rate of US$22,000 per day for a minimum of 11 to a maximum of 13 months.
George Karageorgiou, Chief Executive of Globus Maritime, commented: "We are pleased to have taken delivery of the 'Sky Globe,' a modern Supramax vessel, which expands our fleet to three vessels, further enhancing our ability to generate revenues and profits. This acquisition occurs during this low phase of the shipping cycle, and is expected to significantly enhance our earnings, while decreasing the weighted average age of our fleet. We continue to implement our balanced charter strategy and we have secured period employment for the 'Star Globe.' Today, our time charter coverage for the remaining of 2010 stands at 61% at the earliest expiration date (or 70% at the latest). We believe that companies with modern tonnage such us ours will continue to benefit from the improving market dynamics."
The following table represents the Company's fleet as on the date of this release:
| Vessel | Year Built | Yard |
Type(1) |
Month/Yr Delivered | DWT | FLAG |
| River Globe | 2007 | Yangzhou Dayang | Supramax | Dec 2007 | 53,500 | Marshall Islands |
| Sky Globe | 2009 | Taizhou Kouan | Supramax | May 2010 | 56,855 | Marshall Islands |
| Tiara Globe | 1998 | Hudong Zhonghua | Panamax | Dec 2007 | 72,929 | Marshall Islands |
| 183,284 | ||||||
| To be delivered | ||||||
| (tbn) Star Globe |
2010 | Taizhou Kouan | Supramax | May 2010 | 57,000 | Marshall Islands |
| 240,284 | ||||||
Note (1): All vessels are geared and fitted with grabs.
The following table represent the employment profile of our fleet as on the date of this release:
| Vessel | Charterer | Charter Expiration Date (Earliest) | Charter Expiration Date (Latest)(1) | Gross Daily rate (US$) |
| River Globe | Eastern Bulk Carriers | 9/2010 | 11/2010 | 25,000 |
| Sky Globe | Currently on Spot | 30,000 | ||
| Star Globe | Transgrain(2) | 5/2011 | 7/2011 | 22,000 |
| Tiara Globe | Transgrain | 2/2012 | 5/2012 | 20,000 |
| Note: | |
| 1. | The latest charter expiration date represents the last day on which the charterer may redeliver the vessel upon the termination of the charter assuming that all options for additional hire periods under the charter are exercised, including taking into account expected off-hire days because of scheduled dry-dockings. |
| 2. | T/C will begin following delivery from the shipyard, scheduled for late May 2010. |
Further Information -- Notes to Editors
About Globus Maritime Limited
Globus is a global provider of seaborne transportation services for dry bulk cargoes, including among others iron ore, coal, grain, cement, and fertilizers, along worldwide shipping routes. Currently, Globus owns and operates one panamax and two supramax vessels, with a weighted average age of 5.7 years (as at May 19, 2010) and a total carrying capacity of 183,284 DWT. All vessels are geared and fitted with grabs.
Globus is listed on the AIM of the London Stock Exchange under ticker GLBS. Jefferies International Limited is acting as nominated adviser and broker to the Company.
Contact Information:
For further information please contact:
Globus Maritime Limited
George Karageorgiou
CEO
+30 210 960 8300
info@globusmaritime.gr
Jefferies International Limited
Schuyler Evans
Oliver Griffiths
Anne Dovigen
+44 (0) 20 7029 8000
Capital Link - London
Annie Evangeli
+44 (0) 20 3206 1322
globus@capitallink.com
Capital Link - New York
Ramnique Grewal
+1 212 661 7566
globus@capitallink.com