Globus Maritime Limited Reports Financial Results for the Quarter Ended March 31, 2025
GLYFADA, Greece, June 16, 2025 (GLOBE NEWSWIRE) -- Globus Maritime Limited ("Globus", the "Company", "we", or "our") (NASDAQ:GLBS), a dry bulk shipping company, today reported its unaudited consolidated operating and financial results for the quarter ended March 31, 2025.
Revenue
$8.6 million in Q1 2025 compared to $7.7 million in Q1 2024
Adjusted EBITDA
$2 million in both Q1 2025 and Q1 2024
Time Charter Equivalent
$9,225 per day in Q1 2025 compared to $11,862 per day in Q1 2024
Current Fleet ProfileAs of the date of this press release, Globus' subsidiaries own and operate nine dry bulk carriers, consisting of six Kamsarmax and three Ultramax.
Vessel
Year Built
Yard
Type
Month/Year Delivered
DWT
Flag
Galaxy Globe
2015
Hudong-Zhonghua
Kamsarmax
October 2020
81,167
Marshall Is.
Diamond Globe
2018
Jiangsu New Yangzi Shipbuilding Co.
Kamsarmax
June 2021
82,027
Marshall Is.
Power Globe
2011
Universal Shipbuilding Corporation
Kamsarmax
July 2021
80,655
Cyprus
Orion Globe
2015
Tsuneishi Zosen
Kamsarmax
November 2021
81,837
Marshall Is.
GLBS Hero
2024
Nihon Shipyard Co., Ltd.
Ultramax
January 2024
64,000
Marshall Is.
GLBS Might
2024
Nantong Cosco KHI Ship Engineering Co., Ltd.
Ultramax
August 2024
64,000
Marshall Is.
GLBS Magic
2024
Nantong Cosco KHI Ship Engineering Co., Ltd.
Ultramax
September 2024
64,000
Marshall Is.
GLBS Angel
2016
Hudong-Zhonghua
Kamsarmax
November 2024
81,119
Marshall Is.
GLBS Gigi
2014
Tsuneishi Hi Cebu
Kamsarmax
December 2024
81,817
Marshall Is.
Weighted Average Age: 7.5 Years as of June 16, 2025
680,622
Current Fleet Deployment
All our vessels are currently operating on short-term time charters, we generally consider as spot charters, the charters that are below one year in duration and/or are chartered on index linked basis ("on spot").
Management Commentary
The first quarter of 2025 was weak with the seasonally weak quarter further affected by geopolitical and economic factors around the world. However, we are now operating a much younger, more fuel-efficient fleet that allows us to ...