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 ...