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Globus Maritime Announces Agreement to Sell Handymax Dry Bulk Carrier |
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Wednesday, 01 July 2009 |
 Globus Maritime Limited, a marine transportation company that owns and operates a fleet of Handymax and Panamax dry bulk ocean-going vessels, announced that it has signed a Memorandum of Agreement with an unaffiliated third party for the sale of the M/V "Gulf Globe," a 1994-built Handymax dry bulk carrier of approximately 43,245 dwt, for the gross price of US$16 million in cash.
Delivery to the new owners is expected to take place between August 15, 2009 and October 30, 2009, at the option of Globus.
Taking depreciation and amortization into account the Company expects
to realize a book loss of approximately US$4.2 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 June 30, 2009, Globus
owned seven vessels with a total carrying capacity of 372,369 dwt and a
weighted average age of approximately 12.1 years.
Following the delivery of the "Island Globe" and the "Gulf Globe" to
their respective new owners, the Company will own and operate four
Handymax vessels and one Panamax vessel, with a weighted average age of
approximately 10.9 years (as at June 30, 2009) and a total carrying
capacity of 256,005 dwt. All five vessels are geared.
Globus is listed on the AIM of the London Stock Exchange under ticker GLBS.
Source: Globus Maritime Ltd.
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