Globus Maritime Limited Announces the Acquisition of a 2007-Built Supramax Dry Bulk Carrier, Expanding Fleet to Six Vessels
Athens, Greece, March 22, 2011 - Globus Maritime Limited ("Globus" or the “Company"),
(NASDAQ: GLBS), a dry bulk vessel owner and operator, announces that it has agreed to purchase
from an unaffiliated third party a 58,790 DWT Supramax dry bulk carrier for a purchase price of
$30.3 million. The vessel was delivered from the Tsuneishi Heavy Industries Cebu yard in 2007.
On completion of this acquisition, the Company’s fleet will expand to six modern dry bulk carriers with a total carrying capacity of 378,703 DWT and a weighted average age of 4.6 years (as of September 30, 2011).
George Karageorgiou, President and CEO of Globus commented: “Consistent with our strategy to own modern assets, and to seek accretive acquisitions at the proper time, we have today agreed to acquire a modern Supramax vessel at a very competitive price. This acquisition is expected to provide additional visibility to our future cash flows, as the vessel is chartered until the first quarter of 2015. We continue to look for vessels that will be accretive to our profitability and cash flows.”
About Globus Maritime Limited
Globus is a global provider of seaborne transportation services for dry bulk cargoes, including coal, grain, steel products, cement, alumina and other dry bulk cargoes along worldwide shipping routes. Currently the Company’s subsidiaries own and operate five vessels with a weighted average age of 4.0 years (as of December 31, 2010) and a total carrying capacity of 319,913 DWT. Globus has contracted to acquire another dry bulk vessel to be delivered during the third quarter of 2011.
Globus Maritime Limited