Globus Maritime Announces a New 2-Year Time Charter Agreement for its Panamax Vessel “Tiara Globe”
Athens, Greece, January 28, 2010.
Globus Maritime Limited ("Globus" or the
“Company"), (AIM: GLBS), a marine transportation company that owns and operates
Handymax and Panamax dry bulk vessels, announces that a subsidiary of the Company
has entered into a new time charter agreement for the M/V “Tiara Globe” with Transgrain
Shipping at a gross rate of US$20,000 per day, for a minimum of 24 to a maximum of 26
months starting sometime in February 2010.
The M/V “Tiara Globe” is a geared Panamax bulkcarrier built in 1998 with a carrying
capacity of 72,929 dwt.
George Karageorgiou, Chief Executive of Globus, commented: “We are pleased to
announce this new employment agreement for our Panamax vessel, “Tiara Globe”, which
enhances the stability and predictability of our revenues and cash flows. Even though we
remain concerned about the effect of the large orderbook of vessels scheduled to be
delivered within 2010, we believe that Globus is strategically positioned to take advantage
of market opportunities as these occur in 2010. Taking advantage of the available bank
facilities and cash on our balance sheet, we will seek, at the appropriate time, to acquire
younger assets that will generate value for our shareholders. We remain focused in our
efforts to grow the Company.”
About Globus Maritime Limited
Following the delivery of the “Coral Globe” and the “Sea Globe” to their new owners by February 2010, Globus will own and operate one Panamax and one Handymax vessels with a weighted average age of approximately 7.6 years (as at December 31, 2009) and a total carrying capacity of 126,429 dwt.
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 Limited