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Globus Maritime Limited Trading Update and Financial Highlights for the Three Months Ended March 31, 2009.
Athens, Greece, May 27, 2009. Globus Maritime Limited ("Globus" or the “Company") (AIM: GLBS), an owner and operator of Handymax and Panamax dry bulk vessels, announced today a trading update and unaudited financial highlights for the three months (“Q1-09”) ended March 31, 2009.
First Quarter 2009 Highlights
• Gross Revenues of US$11.8 million versus US$24.0 million in Q1-08;
• Net Revenues of US$10.7 million versus US$22.7 million in Q1-08;
• Operating Expenses of US$2.8 million versus US$3.3 million in Q1-08;
• EBITDA of US$7.0 million versus US$18.8 million in Q1-08;
• Cash flow from operations of US$7.7 million versus US$17.3 million in Q1-08;
• Net Income of US$2.5 million versus US$11.6 million in Q1-08;
• Average Time Charter Equivalent (TCE) rate of US$16,919 per vessel per day with an average 7.0 vessels operated, versus an average TCE of US$31,979 per vessel per day with an average of 8.0 vessels operated during Q1-08;
• Fleet utilization of 98.4% versus 98.3% in Q1-08.
Fleet
Globus’ fleet comprises a total of seven modern dry bulk carriers, consisting of five Handymaxes and two Panamaxes, with a weighted average age of approximately 11.9 years as at April 30, 2009 and a total carrying capacity of 372,369 dwt.
On April 29, 2009, the Company entered into a Memorandum of Agreement with an unaffiliated third party for the sale of the “Island Globe” for the gross price of US$19.1 million in cash. The vessel is expected to be delivered to her new owners sometime between June 1 and October 21, 2009, at the option of the Company.
Following the delivery of the “Island Globe” to her new owners the Company will own and operate five Handymax vessels and one Panamax vessel, with a weighted average age of approximately 11.3 years as at April 30, 2009 and a total carrying capacity of299,250 dwt. All six vessels are geared.
Hele rapporten:
http://www.globusmaritime.gr/press/globus270509.pdf
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website:
http://www.globusmaritime.gr/home.html
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http://www.nordic-drybulk.info/?England_-_UK
Globus Maritime Limited Trading Update and Financial Highlights for the Three Months Ended March 31, 2009.
Athens, Greece, May 27, 2009. Globus Maritime Limited ("Globus" or the “Company") (AIM: GLBS), an owner and operator of Handymax and Panamax dry bulk vessels, announced today a trading update and unaudited financial highlights for the three months (“Q1-09”) ended March 31, 2009.
First Quarter 2009 Highlights
• Gross Revenues of US$11.8 million versus US$24.0 million in Q1-08;
• Net Revenues of US$10.7 million versus US$22.7 million in Q1-08;
• Operating Expenses of US$2.8 million versus US$3.3 million in Q1-08;
• EBITDA of US$7.0 million versus US$18.8 million in Q1-08;
• Cash flow from operations of US$7.7 million versus US$17.3 million in Q1-08;
• Net Income of US$2.5 million versus US$11.6 million in Q1-08;
• Average Time Charter Equivalent (TCE) rate of US$16,919 per vessel per day with an average 7.0 vessels operated, versus an average TCE of US$31,979 per vessel per day with an average of 8.0 vessels operated during Q1-08;
• Fleet utilization of 98.4% versus 98.3% in Q1-08.
Fleet
Globus’ fleet comprises a total of seven modern dry bulk carriers, consisting of five Handymaxes and two Panamaxes, with a weighted average age of approximately 11.9 years as at April 30, 2009 and a total carrying capacity of 372,369 dwt.
On April 29, 2009, the Company entered into a Memorandum of Agreement with an unaffiliated third party for the sale of the “Island Globe” for the gross price of US$19.1 million in cash. The vessel is expected to be delivered to her new owners sometime between June 1 and October 21, 2009, at the option of the Company.
Following the delivery of the “Island Globe” to her new owners the Company will own and operate five Handymax vessels and one Panamax vessel, with a weighted average age of approximately 11.3 years as at April 30, 2009 and a total carrying capacity of299,250 dwt. All six vessels are geared.
Hele rapporten:
http://www.globusmaritime.gr/press/globus270509.pdf
-------------------------------------------
website:
http://www.globusmaritime.gr/home.html
---------------------------------------------
http://www.nordic-drybulk.info/?England_-_UK
