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Tag: GLBS

  • Here is why Globus Maritime Ltd (GLBS) stock ended the week on positive performance?

    Here is why Globus Maritime Ltd (GLBS) stock ended the week on positive performance?

    Globus Maritime Limited (GLBS) shares gained 13.64% in after-hours on Friday, June 18, 2021, and close the week at $5.75 per share. Earlier in the morning session on Friday, GLBS’s stock gained 0.80% to close the session at $5.06. GLBS shares have fallen 86.75% over the last 12 months, and they have moved down 2.69% in the past week. Over the past three months, the stock has gained 2.43%, while over the past six months, it has lost 16.23%.

    Let’s have a look at its recent news and developments.

    Recent financial results announcement

    On June 18, 2021, Globus Maritime Limited announced its unaudited consolidated operating and financial results for the quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • Globus Maritime Limited reported revenue of $5.17 million for Q1 2021 compared to $2.3 million for Q1 2020
    • Adjusted EBITDA was $1.3 million in Q1 2021 compared to $1.6 million in Q1 2020.
    • The company suffered a comprehensive loss of $0.8 million or $0.11 basic and diluted loss per share in Q1 2021 compared to a total comprehensive loss of $9 million for the same period last year or $154.85 basic and diluted loss per share in Q1 2020.
    • The company had cash and bank balances and bank deposits (including restricted cash) of $53.1 million as of March 31, 2021, compared to $21.1 million on December 31, 2020.

    Delivery & charter of the M/V Diamond Globe

     

    On June 15, 2021, Globus Maritime Limited took delivery of the M/V “Diamond Globe”, a 2018-built “Eco” Kamsarmax dry bulk carrier it acquired for a purchase price of $27 million, which the Company previously announced on March 23, 2021.

    Now the Company’s fleet has seven dry bulk carriers with a total carrying capacity of 463,765 DWT.

    M/V Diamond Globe has been successfully charted to an unrelated third party at a daily rate of $27,250. The charter is expected to commence at the earliest on June 16, 2021, and has a minimum duration of four months. 

    Closing of $34.25 million loan

    On May 12, 2021, Globus Maritime Limited completed the refinancing of its six vessels through a Term Loan Facility with CIT Bank, and the majority proceeds of which were used to repay the Company’s loan facility with EnTrust Global’s Blue Ocean Fund. 

    Conclusion

    The financial results announcement on Friday was the reason behind its surging in the after-hours on Friday. we can expect GLBS to continue its momentum on Monday as well.

  • Why Globus Maritime Limited (NASDAQ: GLBS) Stocks Soaring Today?

    Why Globus Maritime Limited (NASDAQ: GLBS) Stocks Soaring Today?

    Globus Maritime Limited (NASDAQ: GLBS) shares soared 22.03% after the company has announced the financial results for the six months period ended June 30, 2020. The company has reported total revenue of 4,589 compared to the 6,942 revenue for six months period ended on June 30, 2019. Its revenue for the three months period ended June 30, 2020, was 2,299 compared to the revenue of 3,399 for the three-month period ended June 30, 2019.

    The weighted average number of shares for the six-month period ended June 30, 2020, of the company was 8,339,137 as compared to 3,642,256 shares for the six-month period ended June 30, 2019. The weighted average number of shares for the three-month period ended June 30, 2020 was 10,861,371 compared to 4,070,153 shares for the three-month period ended June 30, 2019.

    The fist half of 2020 was very difficult period for the company as it has experienced the major hit because the marine shipping has badly affected.

    Globus Maritime Limited (NASDAQ: GLBS) shares were trading up 22.03% at $0.14 at the time of writing on Monday. Globus Maritime Limited (GLBS) share price went from a low point around $0.10 to briefly over $3.10 in past 52 weeks, though shares have since pulled back to $0.14. It has moved up 33.33% from its 52-weeks low and -95.46% from its 52-weeks high. GLBS market cap has remained high, hitting $18.42 Million at the time of writing.

    Globus Maritime Limited is planning to expand its fleet after raising significant capital via offerings and private placements. Company revealed that it has enough cash and debt financing support to be able to buy additional vessels, however the company has not met any suitable candidate.

    It has also revealed that its subsidiaries has owned and operate five dry bulk carriers, including four Supramax and one Panamax. All of its vessels are currently working on short-term time charters. Globus Maritime has revealed that when it decides to buy the vessels, the company first analyze that it has right technical and commercial aspect or not. It has no intention to only increase the number of vessels in the water.