Delivery of the Supramax Dry Bulk Carrier “Sky Globe”.

News Release Globus Maritime Ltd. May 21, 2010

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Athens, Greece, May 20, 2010. Globus Maritime Ltd
("Globus" or
the “Company") (AIM: GLBS), a
global shipping transportation company that owns and operates
Supramax and Panamax dry bulk
carriers, announces that on May 19, 2010 it took delivery from an
unaffiliated third party of the bulk
carrier “Sky Globe”, the first of two sistership-vessels it had
previously agreed to acquire for
US$32,825,000 each as announced on April 8, 2010.
The M/V “Sky Globe”, built in 2009, is a geared and grab-fitted
supramax bulk carrier with a carrying
capacity of 56,855 dwt. The vessel was financed from the Company’s
existing bank facility and cash
balances, and will fly the Marshall Islands flag.
Following the delivery the “Sky Globe” is employed on the spot
market: for her first trip she was
chartered by a first class European charterer at the gross rate of
US$30,000 per day.
The second vessel, a newbuilding which is currently under
construction, will be named “Star Globe”
upon her delivery, which is scheduled for later this month. The
“Star Globe” has been time chartered
to Transgrain Shipping at the gross rate of US$22,000 per day for
a minimum of 11 to a maximum of
13 months.
George Karageorgiou, Chief Executive of Globus Maritime,
commented: “We are pleased to have
taken delivery of the “Sky Globe”, a modern Supramax vessel, which
expands our fleet to three
vessels, further enhancing our ability to generate revenues and
profits. This acquisition occurs during
this low phase of the shipping cycle, and is expected to
significantly enhance our earnings, while
decreasing the weighted average age of our fleet. We continue to
implement our balanced charter
strategy and we have secured period employment for the “Star
Globe”. Today, our time charter
coverage for the remaining of 2010 stands at 61% at the earliest
expiration date (or 70% at the latest).
We believe that companies with modern tonnage such us ours will
continue to benefit from the
improving market dynamics.”
The following table represents the Company’s fleet as on the date
of this release:
Vessel
Year
Built Yard Type(1)
Month/Yr
Delivered DWT FLAG
River Globe 2007 Yangzhou
Dayang Supramax Dec 2007 53,500 Marshall
Islands
Sky Globe 2009 Taizhou
Kouan Supramax May 2010 56,855 Marshall
Islands
Tiara Globe 1998 Hudong
Zhonghua Panamax Dec 2007 72,929 Marshall
Islands
183,284
To be delivered
(tbn)
Star Globe
2010 Taizhou
Kouan Supramax May 2010 57,000 Marshall
Islands
240,284
Note (1): All vessels are geared and fitted with
grabs.
Registered office: Walker House, PO Box 498, 28-34 Hill Street,
St. Helier, Jersey JE4 5TF
Comminucations Address: c/o Globus Shipmanagement Corp.
128 Vouliagmenis Avenue, 3rd Floor, 166 74 Glyfada, Greece
Tel: +30 210 9608300, Fax:+30 210 9608359,
email:info@globusmaritime.gr
www.globusmaritime.gr
The following table represent the employment profile of our fleet
as on the date of this release:
Vessel Charterer
Charter Expiration
Date (Earliest)
Charter Expiration
Date (Latest)(1)
Gross Daily
rate (US$)
River Globe Eastern Bulk Carriers 9/2010 11/2010 25,000
Sky Globe Currently on Spot 30,000
Star Globe Transgrain(2) 5/2011 7/2011 22,000
Tiara Globe Transgrain 2/2012 5/2012 20,000
Note:
(1) The latest charter expiration date represents the last day on
which the charterer may redeliver
the vessel upon the termination of the charter assuming that all
options for additional hire
periods under the charter are exercised, including taking into
account expected off-hire days
because of scheduled dry-dockings.
(2) T/C will begin following delivery from the shipyard, scheduled
for late May 2010.
For further information please contact:
Globus Maritime Limited +30 210 960 8300
George Karageorgiou, CEO info@globusmaritime.gr
Jefferies International Limited +44 (0) 20 7029 8000
Schuyler Evans
Oliver Griffiths
Anne Dovigen
Capital Link – London +44 (0) 20 3206 1322 / globus@capitallink.com
Annie Evangeli
Capital Link – New York +1 212 661 7566 / globus@capitallink.com
Ramnique Grewal</DIV></BODY></HTML>