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Globus Maritime Limited Reports Financial Results for the Second Quarter and Six-month period ended June 30, 2024
GLYFADA, Greece, Sept. 12, 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, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Globus Maritime Limited (“Globus”, the “Company”, “we”, or “our”) (NASDAQ: GLBS), a dry bulk shipping company, today reported its unaudited consolidated financial results for the second quarter and six-month period ended June 30, 2024. Revenue $9.5 million in Q2 2024 $17.2 million in H1 2024 Net income $3.3 million net income in Q2 2024$3 million net income in H1 2024 Adjusted EBITDA $4 million in Q2 2024$6 million in H1 2024 Time Charter Equivalent $14,578 per day in Q2 2024 $13,246 per day in H1 2024 Current Fleet ProfileAs of the date of this press release, Globus’ subsidiaries own and operate seven dry bulk carriers, consisting of one Supramax, four Kamsarmax and two Ultramax. VesselYear BuiltYardTypeMonth/Year DeliveredDWTFlagRiver 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 202464,000Marshall Is.GLBS Might2024Nantong Cosco KHI Ship Engineering Co., Ltd.UltramaxAugust 202464,000Marshall Is.Weighted Average Age: 7.9 Years as at September 12, 2024 507,313 Current Fleet DeploymentAll our vessels are currently operating on short-term time charters (“on spot”). Management Commentary “We are pleased to deliver once again positive half year results whilst maintaining a healthy balance sheet and remaining committed to renew and expand our fleet with modern and fuel-efficient vessels. The chartering market so far in 2024, albeit not spectacular, has been relatively healthy. Various dynamics and cargo flows keep shifting constantly, we have managed to remain profitable and keep our operating costs at reasonable levels and the fleet utilization high. Notwithstanding the significant geopolitical challenges around the world, we are navigating through these challenges without having to forego market opportunities that may appear. 2024 so far has been a significant year for the Company, having taken delivery of two newbuilding Ultramaxes and expecting to take delivery of a third one shortly. In addition to these ve...