Business
Globus Maritime Limited Reports Financial Results for the Quarter Ended March 31, 2024
GLYFADA, Greece, June 07, 2024 (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, June 07, 2024 (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 ended March 31, 2024. Revenue $7.7 million in Q1 2024 compared to $8.6 million in Q1 2023 Adjusted EBITDA $2 million in Q1 2024 compared to $1.3 million in Q1 2023 Time Charter Equivalent $11,862 per day in Q1 2024 compared to $8,780 per day in Q1 2023 Current Fleet ProfileAs of the date of this press release, Globus’ subsidiaries own and operate seven dry bulk carriers, consisting of one Supramax, one Panamax, four Kamsarmax and one Ultramax. VesselYear BuiltYardTypeMonth/Year DeliveredDWTFlagMoon Globe2005Hudong-ZhonghuaPanamaxJune 201174,432Marshall Is.River Globe2007Yangzhou DayangSupramaxDec 200753,627Marshall Is.Galaxy Globe2015Hudong-ZhonghuaKamsarmaxOctober 202081,167Marshall Is.Diamond Globe2018Jiangsu New Yangzi Shipbuilding Co.KamsarmaxJune 202182,027Marshall Is.Power Globe2011Universal Shipbuilding CorporationKamsarmaxJuly 202180,655Marshall Is.Orion Globe2015Tsuneishi ZosenKamsarmaxNovember 202181,837Marshall Is.GLBS Hero2024Nihon Shipyard Co., Ltd.UltramaxJanuary 202463,742Marshall Is.Weighted Average Age: 10 Years as at March 31, 2024 517,487 Current Fleet Deployment All our vessels are currently operating on short-term time charters, we generally consider as spot charters, the charters that are below one year in duration and/or are chartered on index linked basis (“on spot”). Management Commentary “Our first quarter in 2024 marked a significant milestone for our company with the delivery of our first new building, m/v GLBS Hero, an Ultramax fuel-efficient vessel. After a smooth delivery process in Japan, the vessel joined our fleet at the end of January and went into employment with a European charterer at an index linked rate of 122% of BSI 58 TC for a period of about 9 to about 11 months; We wish her safe and calm seas always! Additionally, we are pleased to report that our data so far indicates that the vessel is operating very well with much lower fuel consumption than other similar older vessels we owned in the past. Furthermore, we are very excited for the upcoming delivery of our new fuel-efficient new buildings scheduled to join our fleet later in the year. ...