Globus Maritime (GLBS) Announces Acquisition of a 2018-Built "Eco" Kamsarmax Dry Bulk Carrier

March 23, 2021 9:03 AM EDT

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Globus Maritime Limited (the “Company” or "Globus") (NASDAQ: GLBS), a dry bulk shipping company, announced today that it has entered into, through a separate wholly owned subsidiary, an agreement with an unaffiliated third party to purchase a 2018-built “Eco” (i.e., with certain fuel efficiency design features) Kamsarmax vessel built by the Jiangsu New Yangzi Shipbuilding yard, for $27 million. The purchase agreement is subject to standard closing conditions and requirements.

The vessel is expected to be delivered to Globus during the second quarter of 2021.

On completion of this acquisition and the acquisition of the Kamsarmax vessel that the Company previously agreed to acquire and announced on February 18, 2021, which is also subject to standard closing conditions and requirements, the fleet of Globus is expected to expand to eight modern dry bulk carriers with a total carrying capacity of 544,420 deadweight tons and a weighted average age of 9.9 years (as of March 22, 2021).

Athanasios (“Thanos”) Feidakis, President and CEO of Globus commented:

“We are very pleased to announce yet another agreement to purchase a modern vessel resulting in an increase of our fleet carrying capacity and a decrease of the average age of the fleet.

We are excited to welcome the new vessel into our fleet and operations and believe that its expected long operating life will add value to the Company and contribute significantly to our long-term success. The vessel is modern and fuel efficient, and fits our strategy and expansion plans.”

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News

Related Entities

Definitive Agreement