Globus Maritime Ltd Reports Delivery of the Vessels "Coral Globe" and "Sea Globe".
Globus Maritime, the owner and operator of Handymax and Panamax dry bulk vessels, announces that it has delivered the Handymax vessels "Coral Globe" (built in 1994) and "Sea Globe" (built in 1995) to their new owners, two unaffiliated third parties. George Karageorgiou, Chief Executive of Globus, commented
"We have today concluded the sale of the last two of our vessels built in the mid-1990s. Taking advantage of the cash on our balance sheet and the available bank facilities, we will seek to acquire younger assets that will generate value for our shareholders. We remain focused in our efforts to grow the Company."
Elias Deftereos, Chief Financial Officer, added: "In the middle of turbulent times, Globus has today a very healthy balance sheet as our cash balances today exceed USD 68.40 million. We are confident that Globus is thus strategically positioned to take advantage of market opportunities as these occur in 2010 and 2011."
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. Globus owns and operates one Panamax and one Handymax vessels, with a weighted average age of 7.7 years (as at January 31, 2010) and a total carrying capacity of 126,429 DWT. Both 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.