Globus Maritime Limited Reports Financial Results for the Year Ended December 31, 2007

Athens, Greece, March 3, 2008. Globus Maritime Limited ("Globus" or "the Company"), (AIM: GLBS), a marine transportation company that owns and operates Handymax and Panamax dry bulk vessels, today reported its operating and financial results for the three months and the twelve months ended December 31, 2007. Globus began operations on September 15, 2006. At December 31, 2006 Globus owned four vessels with a total 172,765 deadweight tons, while at December 31, 2007 Globus’ fleet included eight vessels with a total 415,558 deadweight tons, a 141% increase.

All figures which follow are in United States Dollars, except for the dividends which are in Pounds Sterling.

Full Year 2007 Financial Highlights

Time Charter (T/C) Revenues of $41 million
Net Revenues of $38.7 million
Operating Expenses of $7.6 million
EBITDA of $28 million
Net Income of $12 million
Earnings per share basic of $0.4713 calculated on 23,785,402 shares
Final Dividend (Proposed) of 7.31 pence per share
Total Dividend of 8.75 pence per share
Net Cash from Operations of $31.9 million
In total $184.8 million were invested in vessel acquisitions, which consisted of one
newbuilding and three second hand vessels.

Fourth Quarter 2007 Financial Highlights

The financial review which follows discusses the results for the three months ended December 31, 2007 (4th quarter 2007, or Q4-07) compared with the results for the period from September 15, 2006 to December 31, 2006.

Due to an increase in prevailing time charter rates and an increase in the number of vessels in the Company’s fleet:

T/C Revenues were $13.1 million, a 152% increase from $5.2 million in 2006.
Net Revenues were $12.4 million, a 153% increase from $4.9 million in 2006.
Operating Expenses were $2.4 million, a 118% increase from $1.1 million in 2006.
EBITDA were $8.6 million, a 161% increase from $3.3 million in 2006.
Net Income was $3.7 million, a 270% increase from $1 million in 2006.

Operational Highlights
Ownership days: 2,017
Available days: 1,965
Operating days: 1,837

An average of 5.5 vessels were owned and operated during the twelve months of 2007, earning an average TCE rate of $19,702 per day.

On December 31, 2007 our fleet included eight vessels, six Handymaxes and two Panamaxes, totalling 415,558 deadweight tons with an average age of 10.7 years. Seven of our eight vessels are geared.

Two vessels were delivered to Globus on 18 December 2007:

1. The newbuilding M/V “River Globe”, a geared Handymax bulkcarrier with a carrying capacity of 53,500 dwt, was delivered from the Yangzhou Dayang Shipyard in China. The Company paid $57 million for the vessel and further invested $0.5 million to upgrade the vessel with grabs.

2. The M/V “Tiara Globe”, a geared Panamax bulkcarrier with a carrying capacity of 72,929 dwt, built in 1998. The Company paid $66.8 million for this vessel.

An average of 6.3 vessels were operated during Q4-07, earning an average daily Time Charter Equivalent (TCE) rate of $22,617 as compared to an average of 2.6 vessels, earning an average daily TCE rate of $18,105 in 2006.

Fleet utilization was 99.6% in Q4-07 vs. 99.7% in 2006.

REVIEW OF THE YEAR ENDED DECEMBER 31, 2007

Fleet Expansion:
In total $184.8 million were invested in vessel acquisitions, one newbuilding and three second hand vessels during 2007 as Globus took delivery of the following vessels:
In January: the M/V “Gulf Globe”, a 1994-built 43,245 dwt Handymax vessel.
In July: the M/V “Island Globe”, a 1995-built 73,119 dwt Panamax vessel.
In December: the M/V “River Globe”, a newbuilding 53,500 dwt Handymax vessel.
In December: the M/V “Tiara Globe”, a 1998-built 72,929 dwt Panamax vessel.

Fleet Deployment:
On December 19, 2007, the M/V “Tiara Globe” began its time charter to Korea Lines Corp at the previously-agreed gross rate of $66,000 per day for a minimum of 24 to a maximum of 26 months.

The newbuilding M/V “River Globe” is currently trading on the spot market, fixed at $60,000 gross per day.

The M/V “Ocean Globe” finished its time charter with Cosco at the gross rate of $21,000 per day on 2nd February 2008 and is now trading on the spot market. Currently the vessel is fixed at $44,000 per day.

The M/V “Lake Globe” finished its time charter with Atlas Shipping at the gross rate of $24,000 per day on 17th February 2008 and is now trading on the spot market. Currently the vessel is fixed at $50,000 per day.

Fleet Deployment:
On December 19, 2007, the M/V “Tiara Globe” began its time charter to Korea Lines Corp at the previously-agreed gross rate of $66,000 per day for a minimum of 24 to a maximum of 26 months.

The newbuilding M/V “River Globe” is currently trading on the spot market, fixed at $60,000 gross per day.

The M/V “Ocean Globe” finished its time charter with Cosco at the gross rate of $21,000 per day on 2nd February 2008 and is now trading on the spot market. Currently the vessel is fixed at $44,000 per day.

The M/V “Lake Globe” finished its time charter with Atlas Shipping at the gross rate of $24,000 per day on 17th February 2008 and is now trading on the spot market. Currently the vessel is fixed at $50,000 per day.

The current charter coverage for 2008 and 2009 is 65% and 25% of the available days respectively.

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. It currently owns and operates six Handymax vessels and two Panamax vessels, with a weighted average age of approximately 10.7 years as at December 31, 2007 and a total carrying capacity of 415,558 dwt. Seven of the eight vessels are geared.

Seven out of the eight vessels in Globus’ fleet are on medium to long term time charters to reputable charterers, which is expected to provide a stable revenue and earnings base.

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.

Globus Maritime press release