Globus Maritime Limited announces that it has signed a Memorandum of Agreement for the sale of the M/V Lake Globe for the gross price of US$16.5 million in cash.
Globus Maritime Limited, a marine transportation company that owns and operates a fleet of Handymax and Panamax dry bulk ocean-going vessels, announces that it has signed a Memorandum of Agreement with an unaffiliated third party for the sale of the M/V "Lake Globe", a 1994-built Handymax dry bulk carrier of approximately 43,216 dwt, for the gross price of US$16.5 million in cash. Delivery to the new owners is expected to take place between November 1 and November 30, 2009, at the option of Globus. Taking depreciation and amortization into account the Company expects to realize a book loss of approximately US$3.5 million on this sale.
Globus intends to utilize the cash proceeds to repay bank debt and strengthen its liquidity.
Globus is a global provider of seaborne transportation services for dry bulk cargoes, including among others iron ore, coal, grain, cement, and fertilizers, along worldwide shipping routes. On September 30, 2009, Globus owned one Panamax and five Handymax vessels, with a weighted average age of approximately 11.7 years and a total carrying capacity of 299,250 DWT.
Following the delivery of the ?Gulf Globe? and the ?Lake Globe? to her new owners, the Company will own and operate one Panamax and three Handymax vessels with a weighted average age of approximately 11.2 years (as at September 30, 2009) and a total carrying capacity of 212,789 dwt. All the vessels are geared.
Globus is listed on the AIM of the London Stock Exchange under ticker GLBS. Jefferies International Limited is acting as nominated adviser and broker to the Company.