Globus Maritime Ltd Enters into Agreement to Acquire a 2010-Built Kamsarmax Dry Bulk Carrier Expanding Fleet to Five Vessels.

News Release Globus Maritime Ltd. June 24, 2010

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Athens, Greece, June 23, 2010. Globus Maritime Ltd
("Globus"
or the “Company")
(AIM: GLBS), a global shipping transportation company that owns
and operates dry bulk
carriers, announces that in line with its fleet renewal programme
it has agreed to purchase
for US$41,112,000 from an unaffiliated third party a 79,800 DWT
Kamsarmax Bulk Carrier
built in 2010 at an established Chinese yard.
The vessel is expected to be delivered to the Company by the end
of June 2010. Upon her
delivery to the Company she will fly the flag of Panama, and
continue her deployment
under a bareboat charter for a period of 5 years (plus 1 year at
Bareboat Charterers’
option plus another year at Globus’ option) to a Far Eastern
shipping entity.
On completion of this acquisition, Globus’ fleet will comprise a
total of five modern dry
bulk carriers with a total carrying capacity of 319,952 dwt and a
weighted average age of
just 3.4 years, well below the industry average.
George Karageorgiou, Chief Executive of Globus Maritime,
commented: “Consistent with
our strategy to own modern assets and seek accretive acquisitions
at the proper time, we
have today agreed to add a new Kamsarmax vessel to our fleet. This
acquisition is
expected to significantly enhance our revenue and earnings
capacity, while further
decreasing the weighted average age of our fleet.”
The following table represents the Company’s fleet as on the date
of this release:
Vessel
Year
Built Yard Type
Month/Yr
Delivered DWT FLAG
River Globe 2007 Yangzhou
Dayang Supramax(1) Dec 2007 53,500 Marshall
Islands
Sky Globe 2009 Taizhou
Kouan Supramax(1) May 2010 56,855 Marshall
Islands
Star Globe 2010 Taizhou
Kouan Supramax(1) May 2010 56,868 Marshall
Islands
Tiara Globe 1998 Hudong
Zhonghua Panamax(1) Dec 2007 72,929 Marshall
Islands
To be delivered
Kamsarmax 2010 Chinese yard Kamsarmax June 2010 79,800 Panama
Weighted Average Age at 30/06/2010 3.4 years 319,952
Note (1): The vessel is 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 represents the employment profile of the fleet
as of the date of this release:
Vessel Charterer Type Charter Expiration
Date (Earliest)
Charter Expiration
Date (Latest)(1)
Gross Daily
rate (US$)
River Globe Eastern Bulk Carriers T/C 9/2010 11/2010
25,000
Sky Globe Currently on Spot n/a n/a 30,000
Star Globe Transgrain T/C 5/2011 7/2011
22,000
Tiara Globe Transgrain T/C 2/2012 5/2012
20,000
Kamsarmax Far East Charterer B/B 1/2015 1/2017 14,250
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.</DIV></BODY></HTML>