Nasdaq-listed shipowner and operator Globus Maritime (GLBS), backed by Greek George Feidakis, has sold its oldest panamax bulk carrier to make space for new tonnage in its fleet. The Athens-based Globus Maritime (GLBS) completed the sale of the 2005-built panamax bulk carrier, 74K DWT MV Moon Globe, for approximately $11.5 million. The MV Moon Globe is scheduled for delivery to the new owners in June. Currently, Globus Maritime (GLBS) operates seven bulk carriers. In January 2024, Globus Maritime (GLBS) received the first of six ultramax bulk carrier new builds, with three additional ships expected to join the fleet in the fourth quarter of 2024. Globus Maritime (GLBS) is dedicated to upgrading its fleet with only fuel-efficient, modern bulk carriers—a strategic move initiated several years ago that has significantly revamped the fleet’s profile. The bulk carriers under the control of Globus Maritime (GLBS) are managed by Athens-based Globus Shipmanagement. 11-June-2024
Nasdaq-listed Greek George Feidakis-backed shipowner and operator Globus Maritime (GLBS) is exploring sale and leaseback financing options for one of its ultramax bulk carriers, which is presently under construction in China. Athanasios Feidakis-led bulk carrier owner Globus Maritime’s (GLBS) subsidiary, Daxos Maritime, is in discussions regarding this 64K DWT ultramax bulk carrier, anticipated to be delivered in 2024 from Nantong Cosco KHI Ship Engineering. The proposed arrangement involves selling the ultramax bulk carrier to an independent third party for $28 million around 30 September 2024, coupled with a 10-year bareboat charter agreement for Daxos Maritime. During this charter period, Daxos Maritime would retain the option to purchase the 64K DWT ultramax bulk carrier and would be obligated to buy it at the end of the term for around $15.8 million. Nasdaq-listed Greek George Feidakis-backed shipowner and operator Globus Maritime (GLBS) has indicated that this transaction is contingent on various factors, including successful negotiations, agreement finalization, and approvals from all involved parties. In addition to this deal, Globus Maritime’s (GLBS) subsidiaries currently possess and manage six bulk carriers, with five (5) more ultramax bulk carriers on order. Two (2) of these ultramax bulk carriers are expected to be delivered from Nantong COSCO in the upcoming year. 17-November-2023
A languid market has nudged Nasdaq-listed Greek George Feidakis-backed shipowner and operator Globus Maritime’s (GLBS) earnings into a deficit. Globus Maritime (GLBS) witnessed a precipitous 64.5% drop in its TCE (time charter equivalent) rates over the quarter. In the Q2 2023, financial results for Globus Maritime (GLBS), proprietor of the 2007 built supramax bulk carrier 53K DWT River Globe among six (6) other midsize bulk carriers, slipped into the negative realm. Globus Maritime (GLBS) reported a quarterly loss, with its fleet of seven (7) bulk carriers experiencing substantially diminished rates in contrast to the previous year. Currently, Nasdaq-listed shipowner and operator Globus Maritime (GLBS), which possesses two (2) supramax bulk carriers, one (1) panamax bulk carrier, and four (4) kamsarmax bulk carriers, registered a loss of $1.16 million in the Q2 2023. Nasdaq-listed shipowner and operator Globus Maritime (GLBS) controlled bulk carriers are managed by Athens-based Globus Shipmanagement. 16-September-2023
Nasdaq-listed Greek George Feidakis-backed shipowner and operator Globus Maritime (GLBS) has formalized two agreements for the fabrication and acquisition of two (2) 64K DWT ultramax bulk carriers. Athanasios Feidakis-led bulk carrier owner Globus Maritime (GLBS) eloquently conveyed that these ships would be forged at a distinguished shipyard in Japan, with the anticipated delivery slated for the latter half of 2026. The comprehensive outlay for the two (2) 64K DWT ultramax bulk carriers’ construction stands at an estimated $75.5 million, encompassing various supplementary costs. Globus Maritime (GLBS) envisages financing this venture through a judicious blend of debt and equity. Nasdaq-listed shipowner and operator Globus Maritime (GLBS) declares the commissioning of our fourth and fifth ultramax new buildings from a distinguished shipbuilder. Globus Maritime (GLBS) possess and manage eight (8) bulk carriers with a cumulative carrying potential of 567K DWT. Nasdaq-listed shipowner and operator Globus Maritime (GLBS) recently divested two of its ultramax bulk carriers for an aggregate sum of $21.9 million. 2009-built ultramax bulk carrier MV Sky Globe and 2010-built ultramax bulk carrier MV Star Globe were relinquished to anonymous third-party shipowners for $10.7 million and $11.2 million respectively. In 2010, Athens-based New York-listed shipowner and operator Globus Maritime (GLBS) acquired 2009-built ultramax bulk carrier MV Sky Globe and 2010-built ultramax bulk carrier MV Star Globe for 32.8 million each from Wilmar Ship Holdings. Nasdaq-listed shipowner and operator Globus Maritime (GLBS) controlled bulk carriers are managed by Athens-based Globus Shipmanagement. 24-August-2023
Nasdaq-listed Greek George Feidakis-backed shipowner and operator Globus Maritime (GLBS) sold two (2) supramax bulk carriers for an aggregate of $21.9 million. CEO Athanasios Feidakis-led bulk carrier owner Globus Maritime (GLBS) is orchestrating the dispatch of 2009 built supramax bulk carrier 56K DWT MV Sky Globe and 2010 built supramax bulk carrier 56K DWT MV Star Globe. MV Sky Globe and MV Star Globe have been procured by unidentified third-party aficionados for $10.7 million and $11.2 respectively. In 2010, Nasdaq-listed shipowner and operator Globus Maritime (GLBS) acquired MV Sky Globe and MV Star Globe as a resale at 32.8 million apiece from the renowned Singaporean establishment, Wilmar Ship Holdings. At this juncture, Greek George Feidakis-backed shipowner and operator Globus Maritime (GLBS) boasts ownership and operation of eight (8) bulk carriers, cumulatively encompassing a staggering carrying capacity of 567K DWT, with an additional three (3) ultramax bulk carriers in the throes of construction. Earlier in March 2023, Globus Maritime (GLBS) judiciously sold 2007 built supramax bulk carrier 56K MV Sun Globe, for around $14 million. This move underscored Globus Maritime’s (GLBS) strategic intent to rejuvenate its fleet with contemporary and fuel-optimized maritime bulk carriers. Augmenting these transactions, Globus Maritime (GLBS) has fortified its fiscal standing post-forging a pact with First Citizens Bank & Trust Company. This arrangement facilitated an additional credit influx of $25 million, safeguarded by two paramount bulk carriers, the MV Diamond Globe and MV Power Globe. This maneuver amplified the credit portfolio to a resounding $77 million. Moreover, the interest burden on this financial obligation experienced a revision to the term SOFR, complemented by a trifling 0.1% annual adjustment, atop a margin of 2.70%. 21-August-2023
Nasdaq-listed Greek George Feidakis-backed shipowner and operator Globus Maritime (GLBS) contemplates a reverse stock split following Nasdaq’s notification regarding its price. CEO Athanasios Feidakis-led bulk carrier owner Globus Maritime (GLBS) emerges as the most recent shipping company listed in the US to fall below the minimum threshold of $1. Globus Maritime (GLBS) is actively working to enhance the value of its shares following a cautionary message from the Nasdaq stock exchange in the United States. Nasdaq-listed shipowner and operator Globus Maritime (GLBS) controlled bulk carriers are managed by Athens-based Globus Shipmanagement. Currently, Athens-based shipowner and operator Globus Maritime (GLBS) owns and operates three (3) supramax, one (1) panamax, and four (4) kamsarmax bulk carriers. 18-July-2023
Nasdaq-listed Greek George Feidakis-backed shipowner and operator Globus Maritime (GLBS) sold the 2007 built supramax bulk carrier 58K DWT MV Sun Globe for around $14 million. CEO Athanasios Feidakis-led Globus Maritime (GLBS) will deliver the MV Sun Globe to new Chinese shipowners in May 2023. 2007 built supramax bulk carrier 58K DWT MV Sun Globe is one of the three oldest ships in the company’s fleet. Malta-flagged MV Sun Globe was constructed at the Tsuneishi Heavy Industries (Cebu). Nasdaq-listed shipowner and operator Globus Maritime (GLBS) controlled bulk carriers are managed by Athens-based Globus Shipmanagement. Currently, Athens-based shipowner and operator Globus Maritime (GLBS) owns and operates three (3) supramax, one (1) panamax, and four (4) kamsarmax bulk carriers. 17-March-2023
Nasdaq-listed Greek George Feidakis-backed shipowner and operator Globus Maritime (GLBS) professes faith in the bulk carriers market after reporting strong quarterly results. According to Globus Maritime (GLBS), earnings in the dry bulk shipping industry are still above trend. Greek shipowner and operator Globus Maritime (GLBS) anticipates the dry bulk shipping market to continue generating promising earnings, despite a current freight rate plunge. Globus Maritime (GLBS) have bulk carrier new buildings on order in China. CEO Athanasios Feidakis-led Globus Maritime (GLBS) assume that the freight rates will remain healthy for the foreseeable future. Although Globus Maritime (GLBS) observed time charter rates easing back a bit, almost all the dry bulk shipping markets are well above trend. Currently, Athens-based shipowner and operator Globus Maritime (GLBS) owns and operates nine (9) supramax and kamsarmax bulk carriers. 22-August-2022
Nasdaq-listed Greek shipowner and operator Globus Maritime (GLBS) ordered two (2) 64K DWT fuel-efficient ultramax bulk carriers at Nantong Cosco KHI Ship Engineering. Greek George Feidakis-backed shipowner and operator Globus Maritime (GLBS) will pay around $35 million each. Globus Maritime’s fleet has been managed by subsidiary Globus Shipmanagement Corp. in Greece. CEO Athanasios Feidakis-led Globus Maritime (GLBS) will take the delivery of the first ultramax bulk carrier in Q3 2024. Globus Maritime (GLBS) will take the delivery of the second ultramax bulk carrier in Q4 2024. Nasdaq-listed Greek shipowner and operator Globus Maritime (GLBS) prepares to acquire the new building ultramax bulk carriers with a combination of debt and cash. However, the company will resume investigating the company’s best options at the appropriate financing time. Globus Maritime (GLBS) will continue to improve shareholder value and growth. CEO Athanasios Feidakis-led Globus Maritime (GLBS) ordered two (2) 64K DWT fuel-efficient ultramax bulk carriers with high technological benchmarks. New building ultramax bulk carriers will be equipped to manage challenges in the shipping industry. Last week, Greek shipowner and operator Globus Maritime (GLBS) ordered another 64K DWT fuel-efficient ultramax bulk carrier at Nihon Shipyard in Japan. This is the first new building order of Globus Maritime (GLBS) since the company’s establishment in 2006. Globus Maritime (GLBS) will pay around $37 million to Nihon Shipyard in Japan. 20-May-2022
Nasdaq-listed shipowner and operator Globus Maritime (GLBS) , under the control of the Feidakis family, is showing signs of nearing profitability, as indicated by its latest financial results. Despite the challenges posed by the pandemic, the company, which owns nine bulk carriers, reported a significantly reduced net loss for the second quarter. This improvement is a reduction to just $23,000, compared to a loss of $4.2 million in the same period last year. Furthermore, the loss for the first half of the year narrowed to $0.8 million from $13.1 million in the first half of 2020. A key factor in this turnaround has been the increase in voyage revenue, which nearly tripled year-on-year in the second quarter to $6.8 million, driven by higher freight rates. However, operating expenses for Globus Maritime also rose by 51% to $3 million, primarily due to the heightened costs of crew repatriation and rotation, as well as expenses related to testing and quarantine compliance. The pandemic has also brought additional challenges, including delays in loading, discharging, crew exchanges, spare part procurement, and repairs. Despite these hurdles, Nasdaq-listed shipowner and operator Globus Maritime (GLBS) remains optimistic about its future. The company believes that a combination of strong demand and limited ship supply will continue to support the market and keep rates elevated. As their fleet moves away from legacy charters, Nasdaq-listed shipowner and operator Globus Maritime (GLBS) expects to capitalize on these favorable market conditions. In the spot market, Globus Maritime currently operates a diverse fleet consisting of four Supramax bulk carriers, three Kamsarmax bulk carriers, and one Panamax bulk carrier. In line with its positive outlook, Globus recently expanded its fleet by acquiring the 81K DWT MV Peak Liberty (built 2015) for $28.4 million from JP Morgan-controlled Defender Holdings. Although employment for this newly acquired Japanese-built vessel has not been finalized, Globus anticipates arranging it closer to the fourth quarter, coinciding with its scheduled delivery. This acquisition is part of Greek George Feidakis-backed shipowner and operator Globus Maritime (GLBS)’s broader expansion strategy, supported by three separate share offerings over the past 12 months, through which the company raised approximately $90 million. The Feidakis family, through its ship management company Eolos, has also been active in the market, recently acquiring two Kamsarmax bulk carriers — the 81K DWT MV Nord Stellar (now renamed MV Eolos Angel, built 2016) and the 81K DWT MV Emerald Star (now renamed MV Eolos G, built 2014) — reportedly for a combined total of about $50 million. These acquisitions by Eolos were disclosed during the spring and demonstrate the family’s continued investment in the maritime sector. Nasdaq-listed shipowner and operator Globus Maritime (GLBS) controlled bulk carriers are managed by Athens-based Globus Shipmanagement. 26-September-2021
Nasdaq-listed shipowner and operator Globus Maritime (GLBS) issued 2.6 million common shares and purchase warrants to buy up to 1.95 million units at $6.25 per share. Athanasios Feidakis led shipowner and operator Globus Maritime’s BOD (Board of Directors) has also decided to lower the exercise price on warrants offered on 9 December 2020 from $8.50 per share to $6.25 per share. Greek George Feidakis-backed shipowner and operator Globus Maritime (GLBS) anticipates over $25 million from both offers. In summer 2020, Globus Maritime (GLBS) made two share offers of $12 million and $15 million after selling $14 million in shares in a separate offer. Nasdaq-listed shipowner and operator Globus Maritime (GLBS) controlled bulk carriers are managed by Athens-based Globus Shipmanagement. 27-January-2021
Nasdaq-listed Greek shipowner and operator Globus Maritime (GLBS) is going to issue $15 million through a shares sale. Athanasios Feidakis led shipowner and operator Globus Maritime is also offering warrants that can be exercised to buy up to 83 million of shares at a later time. The purchase price for a share and a warrant will be $0.18 per share. Maxim Group is serving as sole organization for offering Globus Maritime’s share sales. Maxim Group has also underwritten several share offerings for publicly listed Greek shipping companies, such as Castor Maritime, Seanergy Maritime, and TopShips among others. Globus Maritime’s chief CEO Athanasios Feidakis has acquired shares worth $150,000 in Globus Maritime. Globus Maritime has authorized the issuance of 25,000 of its Series B preferred shares to Goldenmare, an investment company controlled by Feidakis Family. 19-July-2020
Nasdaq-listed Greek George Feidakis-backed shipowner and operator Globus Maritime (GLBS) is marketing $12 million shares. Last week, Globus Maritime sold $14 million shares. Direct offerings are anticipated to close on 30 June 2020. Maxim Group is acting as a book-runner for Globus Maritime’s shares. Currently, New York-listed dry bulk operator Globus Maritime’s stocks are trading at $0.38. Globus Maritime has been aiming to acquire kamsarmax, panamax, and supramax bulk carriers. Currently, Athens based shipowner and operator Globus Maritime has a fleet of one five (5) bulk carriers. 25-June-2020
Nasdaq-listed shipowner and operator Globus Maritime (GLBS) sees freight rates dip in Q3 2019 as spike proves short-lived. In Q3 2019, Globus Maritime (GLBS) reported net earnings of $0.28 million versus 0.25 million in Q3 2018. In Q3 2019, Globus Maritime (GLBS) reported revenue of $4.9 million and operating expenses of $2.4 million. In Q3 2019, Globus Maritime (GLBS) reported an average TCE (Time Charter) rate of $9,863 per day per ship. In Q3 2019, Globus Maritime (GLBS) encountered a short-term spike in the spot dry bulk market that supported the company to experience higher than normal freight rates. Nasdaq-listed shipowner and operator Globus Maritime (GLBS) is still being affected by the negative sentiment generated by the US-China trade war, iron ore export bans in Indonesia, and the coal import quotas in China. Globus Maritime (GLBS) foresees that the dry bulk market is expected to be volatile, however Globus Maritime (GLBS) anticipates an upward trend. Currently, Nasdaq-listed shipowner and operator Globus Maritime (GLBS) has a fleet of four (4) supramaxes and one (1) panamax bulk carrier. 10-December-2019
Nasdaq-listed Greek shipowner and operator Globus Maritime (GLBS) reported a $3 million loss in Q2 2019. According to Globus Maritime (GLBS), the dry bulk freight market was under severe pressure due to the ongoing concerns in the US-China trade war and the ongoing iron ore supply disruptions. In Q2 2019, Greek George Feidakis-backed shipowner and operator Globus Maritime reported a revenue of $3.4 million and adjusted EBITDA of $110,000. According to Athanasios Feidakis led shipowner and operator Globus Maritime (GLBS), the dry bulk freight market began to increase toward the end of Q2 2019. Globus Maritime (GLBS) anticipates the dry bulk freight market to stay healthy for the remainder of 2019. In 2020, New York-listed shipowner and operator Globus Maritime (GLBS) predicts that the dry bulk freight market will strengthen even further as we move closer into 2020 due to IMO (International Maritime Organization) 2020 sulfur regulation. All the bulk carriers are managed by Athens-based subsidiary Globus Shipmanagement Corporation. 27-September-2019
Nasdaq-listed Greek shipowner and operator Globus Maritime (GLBS) reported a $0.47 million in Q1 2019. In Q1 2019, Globus Maritime (GLBS) reported a revenue of $3.5 million due to dry bulk charter rates shifting to $6,736 per day per ship after the Brazilian Vale dam disaster took millions of iron-ore tonnes from the dry bulk market. Athanasios Feidakis led shipowner and operator Globus Maritime (GLBS) is satisfied with the company’s performance during Q1 2019. Notwithstanding the challenges in the dry bulk freight market in Q1 2019, Globus Maritime (GLBS) managed to decrease the company’s operating expenses. Globus Maritime (GLBS) anticipates the dry bulk freight rates will improve during Q3 2019 due to the demand from China and IMO (International Maritime Organization) 2020 sulfur regulations. All the bulk carriers are managed by Athens based subsidiary Globus Shipmanagement Corp. Currently, Nasdaq-listed Greek shipowner and operator Globus Maritime (GLBS) has a fleet of five (5) dry bulk ships. 10-June-2019
In the face of President Donald Trump’s recent elevation of tariffs, the shipping industry exhibits robust fortitude. Today, despite the Trump administration amplifying tariffs on nearly half of Chinese imports from 10% to 25%, the equity market in various sectors remained largely unperturbed. This new tariff adjustment encompasses $250 billion of Chinese merchandise, ranging from televisions to soybeans. New York’s eminent shipping conglomerates, responsible for transporting 90% of commodities via waterways, have gracefully weathered this storm, maintaining a steady stock trajectory throughout the day. The imposed tariffs on Chinese imports may not detrimentally affect the demand for dry bulk, given that its flow predominantly moves eastward, according to Poe Fratt of Noble Capital Markets. However, potential retaliatory actions by China, which may entail sourcing grains, inclusive of soybeans, from alternative countries besides the US, could indeed influence the dry bulk demand. Shares of the dry bulk entity, Seanergy Maritime, saw a modest decline of less than 4% to $1.78 by late afternoon, while its counterpart, Globus Maritime, experienced a 2% decrement to $2.88. In contrast, International Seaways observed an augmentation of nearly 4% in its stock value, reaching $20.18, and Scorpio Tankers ascended by over 3% to $27.58. The recent tariff threats unleashed by President DonaldTrump left some analysts apprehensive about a pervasive negative impact on shipping. Conversely, some opined that President Donald Trump might eschew actualizing these tariffs, proposing that his social media declarations were merely stratagems to expedite trade discussions with China. Poe Fratt highlighted that the dry bulk market is profoundly influenced by the regulated iron ore supply from Brazil, a consequence of the Vale mine catastrophe. Additionally, China’s curtailing of coal imports has contributed to market dynamics, Poe Fratt mentioned. Poe Fratt further elaborated that the somewhat languid freight rates observed in February have undergone a mild resurgence, contingent on the resolution of trade disputes and the velocity of iron-ore and coal deliveries into China. Analyst Jon Chappell of Evercore ISI remarked that the tariff developments predictably cast an adverse shadow on dry bulk equities, with some diminishing by a substantial 12.5% over the week. Yet, the overarching concern remains the possible detrimental repercussions on China’s economy and the subsequent influence on its commodity import demand. The influx of steel from China is unlikely to suffer, as the primary steel suppliers for the US are domestic, supplemented by Canada and Mexico, noted Jefferies analyst Randy Giveans. Given the limited crude oil, LNG, or LPG imports from China to the US, the overall trade of dry bulk and boxship might remain largely unaffected. In culmination, there is a prevailing anticipation of a trade agreement materializing in the ensuing months. It’s expected that China will consent to a substantial procurement of a diverse array of products from the US, ameliorating the trade disequilibrium between the nations, which would augur well for both shipping revenues and equities. 9-May-2019
Nasdaq-listed shipowner and operator Globus Maritime (GLBS) reported a net loss of $1.3 million in Q4 2018. In Q4 2018, Globus Maritime (GLBS) reported revenue of $4.4 million and operating costs of $2.6 million. Athanasios Feidakis led shipowner and operator Globus Maritime (GLBS) reported a total revenue of $14.4 million for 2018. Globus Maritime (GLBS) is pleased with the company’s overall performance during 2018. Globus Maritime (GLBS) believes that the US-China trade war difficulties will be resolved this year. According to Globus Maritime (GLBS) Greek George Feidakis-backed shipowner and operator Globus Maritime, the US-China trade war, Brexit, Chinese New Year curbed the dry bulk carrier demand which scattered over onto the dry bulk charter rates. All the bulk carriers are managed by Athens-based subsidiary Globus Shipmanagement Corp. 13-March-2019
Nasdaq-listed Greek shipowner and operator Globus Maritime (GLBS) lowered its losses in Q4 2017. New York-listed dry bulk operator Globus Maritime’s revenue for Q4 2017 increased to $3 million as the daily TCE (Time Charter Equivalent) rate increased to $8,112. Higher charter out rates resulting in more revenue. Globus Maritime reported a net loss of $1.2 million in Q4 2017. CEO Athanasios Feidakis is comfortable about the dry bulk market future. Globus Maritime’s approach is to charter out dry bulk carriers on short-medium term contracts. Globus Maritime is endeavoring fleet renewals in 2018. Furthermore, Globus Maritime has lowered its debt to DVB Bank and HSH Nordbank. Currently, New York-listed dry bulk operator Globus Maritime has a fleet of 4 supramax dry bulk carriers and 1 panamax dry bulk carrier. All the bulk carriers are managed by Athens based subsidiary Globus Shipmanagement Corp. 18-March-2018
Nasdaq-listed Greek shipowner and operator Globus Maritime (GLBS) sealed a deal with a private investor to sell a convertible notes issue worth $5 million. According to Greek George Feidakis-backed shipowner and operator Globus Maritime (GLBS), $5 million worth of convertible notes will strengthen Globus Maritime’s (GLBS) balance sheet. $5 million worth of convertible notes can be redeemed at any time by the Globus Maritime (GLBS). Globus Maritime (GLBS) may not issue shares to the investor that would see it own more than 9.99% of the company. Globus Maritime (GLBS) is going to use $5 million worth of convertible notes for general corporate purposes and working capital. In November 2018, Athanasios Feidakis led shipowner and operator Globus Maritime (GLBS) has secured a $15 million revolving credit facility from affiliated company Firment Shipping. All the bulk carriers are managed by Athens-based subsidiary Globus Shipmanagement Corp. 13-March-2019
Greek George Feidakis-backed shipowner and operator Globus Maritime signed a settlement with moneylenders DVB Bank and HSH Nordbank. After loan improvements, Greek Globus Maritime decreased its working capital deficit to $9 million. Globus Maritime’s fleet has been managed by subsidiary Globus Shipmanagement Corp. in Greece. 12-April-2017