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Globus Maritime Limited Reports Financial Results for the Quarter and Nine-Month Period Ended September 30, 2019
GLYFADA, Greece, Dec. 09, 2019 (GLOBE NEWSWIRE) -- Globus Maritime Limited (“Globus,” the “Company,” “we,” or “our”) (NASDAQ: GLBS), a dry bulk shipping
About this update from Globus Maritime Limited
[{"type":"text","content":"GLYFADA, Greece, Dec. 09, 2019 (GLOBE NEWSWIRE) -- Globus Maritime Limited (“Globus,” the “Company,” “we,” or “our”) (NASDAQ: GLBS), a dry bulk shipping company, today reported its unaudited consolidated operating and financial results for the quarter and nine-month period ended September 30, 2019.\n Financial Highlights Three months endedNine months ended September 30,September 30, (Expressed in thousands of U.S dollars except for daily rates and per share data)201920182019 2018 Total revenues4,9474,86111,888 12,993 Adjusted EBITDA (1)1,6392,2542,124 3,534 Total comprehensive income/(loss)280254(3,193)(2,219)Basic earnings/(loss) per share (2)0.060.08(0.82)(0.69)Daily Time charter equivalent rate (TCE) (3)9,86310,3177,539 9,254 Average operating expenses per vessel per day5,2884,4534,943 5,370 Average number of vessels5.05.05.0 5.0 (1) Adjusted EBITDA is a measure not in accordance with generally accepted accounting principles (“GAAP”). See a later section of this press release for a reconciliation of EBITDA to total comprehensive loss and net cash (used in)/ generated from operating activities, which are the most directly comparable financial measures calculated and presented in accordance with the GAAP measures.(2) The weighted average number of shares for the nine-month period ended September 30, 2019 was 3,905,305 compared to 3,198,894 shares for the nine-month period ended September 30, 2018. The weighted average number of shares for the three-month period ended September 30, 2019 was 4,422,825 compared to 3,204,271 shares for the three-month period ended September 30, 2018.(3) Daily Time charter equivalent rate (TCE) is a measure not in accordance with generally accepted accounting principles (“GAAP”). See a later section of this press release for a reconciliation of Daily TCE to Voyage revenues. Current Fleet ProfileAs of the date of this press release, Globus’ subsidiaries own and operate five dry bulk carriers, consisting of four Supramax and one Panamax. VesselYear BuiltYardTypeMonth/Year DeliveredDWTFlagMoon Globe2005Hudong-ZhonghuaPanamaxJune 201174,432 Marshall Is.Sun Globe2007Tsuneishi CebuSupramaxSept 201158,790 MaltaRiver Globe2007Yangzhou DayangSupramaxDec 200753,627 Marshall Is.Sky Globe2009Taizhou KouanSupramaxMay 201056,855 Marshall Is.Star Globe2010Taizhou KouanSupramaxMay 201056,867 Marshall Is.Weighted Av...