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Tuesday, April 24, 2018

Globus Maritime Limited News

Photo: Globus Maritime

Globus Maritime CEO Steps Down

Greek dry bulk shipowner Globus Maritime announced the resignation of Georgios Karageorgiou from the position of president, CEO and interim CFO and Director of Globus Maritime Limited. Karageorgiou is leaving for personal reasons. Athanasios Feidakis, the company's current Non-Executive Director, will replace him as president, CEO and CFO. Feidakis is the son of chairman, Georgios Feidakis. Georgios Feidakis, chairman of Globus Maritime, commented: “We thank Mr. Karageorgiou for his long service to the company and we wish him every success in his future endeavors.

Globus Maritime Expands Fleet to Seven with Supramax Delivery

Globus Maritime Announces the Delivery of the Supramax "Sun Globe," Expanding Fleet to Seven Vessels. Globus Maritime Limited ("Globus" or the "Company"), (NASDAQ: GLBS), a dry bulk shipping company, announced that it has taken delivery of the M/V "Sun Globe," a 2007-built Supramax dry bulk carrier it acquired for a purchase price of $30.3 million, which the Company had previously announced in March 2011. The M/V "Sun Globe" was built at the Tsuneishi Heavy Industries Cebu yard and has a carrying capacity of 58,790 DWT.

Globus Maritime Delivers Dry Bulk Vessels

Globus Maritime Limited (AIM: GLBS) (LSE: GLBS), 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, said, "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.

Globus Maritime Sells Handymax Dry Bulk Carrier

Globus Maritime Limited (AIM: GLBS) (LSE: GLBS), a marine transportation company that owns and operates a fleet of Handymax and Panamax dry bulk ocean-going vessels, 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 $16.5m in cash. Delivery to the new owners is expected to take place between November 1 and November 30, 2009, at the option of Globus.

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Globus Maritime Reclassifies Board Member

Globus Maritime Limited, a dry bulk shipping company, announced today that when Georgios Karageorgiou, a Class I director of Globus Maritime Limited  resigned on December 28, 2015, the Company’s Board of Directors  was comprised of two Class II directors, two Class III directors, and no Class I directors. The Company’s Articles of Incorporation require each class of the Board to consist, as nearly as possible, of an equal number of directors. On December 28, 2015, solely in order to provide for an equal apportionment of the members of the Board among the three classes of the Board, Mr.

M/V River Globe Photo: Globus Maritime Limited

Globus Maritime Posts 63% Increase in Revenues

Globus Maritime Limited, a dry bulk shipping company, yesterday reported its unaudited consolidated operating and financial results for the six month period ended June 30, 2017. Athanasios Feidakis, President, Chief Executive Officer and Chief Financial Officer of Globus Maritime Limited, stated: “As the year evolves we are pleased with our efforts bearing fruit. In the first half of 2017 we saw our total revenues increase by 63% compared to the same period last year, we were also able to reduce our debt by about 30% again compared to the first half of last year." He continued…

Globus Maritime Charter for the Tiara Globe

Globus Maritime Limited (AIM: GLBS) (LSE: GLBS), a marine transportation company that owns and operates Handymax and Panamax dry bulk vessels, announced that a subsidiary of the company has entered into a new time charter agreement for the M/V Tiara Globe with Transgrain Shipping at a gross rate of $20,000 per day, for a minimum of 24 to a maximum of 26 months starting sometime in February 2010. The M/V Tiara Globe is a geared Panamax bulkcarrier built in 1998 with a carrying capacity of 72,929 dwt.

Globus Maritime Limited Reports Financial Results

Globus Maritime Limited (NASDAQ: GLBS), a dry bulk shipping company, reported its unaudited consolidated operating and financial results for the three-month period ended March 31, 2011. The Company also declared a quarterly cash dividend of $0.16 per share for the three-month period ended March 31, 2011. This is the third quarterly cash dividend declared by the Company’s Board of Directors since the listing of its common shares on the NASDAQ Global Market in November 2010. Prior to listing on the NASDAQ…

Photo: Globus Maritime Limited

Globus Maritime Reports Loss in Q3

Globus Maritime reported loss in Q3 results amid depressed dry bulk rates though it remains cautiously optimistic on China’s economy and expects demand for dry bulk commodities to remain strong. Total comprehensive loss for the third quarter of the year 2015 amounted to $2.5 million or $0.24 basic loss per share based on 10,264,256 weighted average number of shares, compared to total comprehensive income of $0.2 million for the same period last year or $0.02 basic earnings per share based on 10,236,134 weighted average number of shares.

Image: Globus Maritime Limited

Globus Maritime Reports Q1 Loss

Greece-based dry bulk shiping company, Globus Maritime has been pushed back into the black by miserable dry bulk rates, but the company has said that it is awaiting market improvements within 2015. George Karageorgiou, President, Chief Executive Officer and Chief Financial Officer of Globus Maritime Limited, stated:  “The first quarter of 2015 was yet another challenging period for our company as our results were negatively affected by the continuation of a depressed dry bulk market with the Baltic Dry Index (BDI) reaching the lowest point in 30 years.

Globus Maritime to Acquire Supramax Carriers

Globus Maritime Ltd (AIM: GLBS) (LSE: GLBS), a global shipping transportation company that owns and operates Supramax and Panamax dry bulk carriers, announced that in line with its fleet renewal program it has agreed to purchase from an unaffiliated third party two geared and grab-fitted sistership 57,000 dwt Supramax vessels built at an established Chinese yard, for $32,825,000 each. The first vessel was built in the fourth quarter of 2009 and is expected to be delivered to the company by the end of June 2010.

Photo: Globus Maritime

Nasdaq's Second Delisting Warning to Globus Maritime

Nasdaq-listed Greek dry bulk shipowner Globus Maritime has received notification from Nasdaq indicating it is in breach of Nasdaq Global Market requirements because the closing bid price of the company’s common stock has been under $1 for the last 30 consecutive business days. The Company no longer meets the minimum bid price continued listing requirement for the Nasdaq Global Market, as set forth in Nasdaq Listing Rule. Pursuant to Nasdaq Listing Rules, the applicable grace period to regain compliance is 180 days, or until May 9, 2016.

Globus Maritime Receives Drybulk Carrier Sky Globe

Globus Maritime Ltd (AIM: GLBS) (LSE: GLBS) announced that on May 19, 2010 it took delivery from an unaffiliated third party of the bulk carrier Sky Globe, the first of two sistership-vessels it had previously agreed to acquire for $32,825,000 each as announced on April 8, 2010. The M/V Sky Globe, built in 2009, is a geared and grab-fitted supramax bulk carrier with a carrying capacity of 56,855 dwt. The vessel was financed from the Company's existing bank facility and cash balances, and will fly the Marshall Islands flag.

© Kara  / Adobe Stock

IMO Reaches Deal to Cut CO2 Emissions

The United Nations shipping agency reached an agreement on Friday to cut carbon emissions, following years of slow progress. The compromise plan, which will cut emissions by at least 50 percent by 2050 compared with 2008 levels, fell short of more ambitious targets. Kitack Lim, Secretary-General of the International Maritime Organization (IMO), said the adoption of the strategy "would allow future IMO work on climate change to be rooted in a solid basis". The IMO said it would also be pursuing efforts towards phasing out CO2 emissions entirely.

File photo: Diana Containerships

US Post-election Shipping Rally Raises Interest, Questions

Shares of U.S. shipping companies shot higher again on Wednesday, causing volatility halts in a number of stocks and raising questions among investors and analysts over the extent of their sharp post-election rally. The jump in share prices and unusually heavy trading volume even surprised analysts who follow the stocks, although some said the gains appeared to result in part from optimism that commodity demand would increase under President-elect Donald Trump. At the center of the rally has been DryShips Inc…

Left to right: Nirmala Maharaj, David Ramjohn, Kevin Ramnarine, Dr. Zaffar Khan, Prof. Miguel Carrillo, Wilfred de Gannes, Michael Burke, Lucyann Henry, Capt. Tore Torsteinson and Stephanie Lezama-Rogers.(Photo: TTSR)

Partners Target Improved Maritime Efficiency

On May 25, 2016, The University of the West Indies Arthur Lok Jack Graduate School of Business (UWI-ALJGSB) together with the Trinidad and Tobago Shipbuilding & Repair Maritime Cluster (TTSR) signed a Memorandum of Understanding to undertake maritime project initiatives involving research, the sharing of knowledge and showcase technologies in the context of improving energy efficiency and reducing CO2 emissions in the maritime sector. One such initiative involves an Expression…

Map: Standard Club

Reduction in High Risk Area for Piracy Now in Force

As of 1 December 2015, the reduction to the High Risk Area (HRA) as defined in Best Management Practices 4, has taken effect. Further information may be found in our earlier web alert, published on 9 October 2015 and available. In response to the reduction in the HRA, the United Kingdom Hydrographic Office has published a revised version of Maritime Security Chart Q6099 which incorporates the changes. The club considers that the risk of piracy remains and recommends that members continue to exercise vigilance when trading to and through affected regions.

The collected data is disseminated publicly through the St. Lawrence Global Observatory website  Photo courtesy Green Marine

Oceanex Joins Fleet of Trained Whale Watchers

The intermodal transportation firm Oceanex has swelled the ranks of sailors volunteering as whale observers for the Réseau d’observation de mammifères marine (ROMM). The crews of the Oceanex Sanderling, the Oceanex Connaigra and the Oceanex Avalon will be given special training to qualify them to gather whale observation data during their voyages. Véronique Nolet, a biologist and Green Marine program manager, will conduct the onboard training starting tomorrow. "Oceanex is proud…

Attorneys Obtain Top Florida Compensation for Maersk Chief Mate

International maritime lawyers Jason R. Margulies and Michael A. Winkleman, of Lipcon, Margulies, Alsina & Winkleman, P.A. , have secured the top verdict in Florida for admiralty and maritime law in 2012 for the case: William C. Skye v. Maersk Line Limited Corporation, doing business as Maersk Line Limited. The verdict was published in the 'Daily Business Review' a legal and business periodical that ranks and publishes Florida Top Verdicts. Attorneys Margulies and Winkleman secured the successful verdict on May 16…

LISW15 Lines Up Speakers

London International Shipping Week 2015 (LISW15) is pleased to announce the line up, so far, of high level government and industry speakers for the official LISW15 Conference being held at the Grosvenor House Hotel on London’s Park Lane, on Thursday 10th September. The conference will begin with Jeremy Penn, Chairman of the LISW15 Steering Group and Chief Executive of The Baltic Exchange, formally welcoming everyone to the event before handing over to The Rt Honourable The Lord Mayor of the City of London…

President Joko Widodo (Courtesy: Republik Indonesia)

Jokowi's Vision of Indonesia as a Maritime Power

President Joko Widodo, popularly known as Jokowi, roadmap for Indonesia as a maritime power in the Indo-Pacific region, has been lauded by the international community, with several countries offering to cooperate with the government to realize this vision, according to a report in the Jakarta Post. Coordinating Maritime Affairs Minister Indroyono Susilo revealed that when the President attended the APEC Summit in Beijing and the G-20 Summit in Australia leaders of top countries…

David Loosley - Chief Executive of the Institute of Marine Engineering, Science and Technology - has been appointed to a maritime panel by Transport Secretary, Rt Hon Chris Grayling. Photo: The Institute of Marine Engineering, Science and Technology

IMarEST CEO David Loosley Appointed to Government Maritime Panel

Working in partnership with industry, the government aims to challenge the sector to think about what it will look like in 2050. This vision will reinforce the development of Maritime 2050, a long-term strategy by the end of 2018 that emphasises the opportunities for the UK maritime sector. The expert panel will offer advice and look strategically at the issues that will be of critical importance to the maritime industry, and all the industries it sustains, up to 2050. David leads the Institute…

Partnership Seeks to Boost Maritime VSAT for China

SpeedCast International Limited, a global satellite communications and network service provider, and Beijing Marine Communications and Navigation Co. Ltd (MCN), a subsidiary of the China Transport Telecommunications & Information Centre (CTTIC), have signed a Memorandum of Understanding for Strategic Cooperation (MOU). Under the MOU, MCN and SpeedCast will form a strategic partnership by integrating MCN’s VSAT network in Asia Pacific and SpeedCast’s global VSAT networks to provide global connectivity to the maritime industry.

Dubai Maritime City Steams Forward

Dubai’s vision as a global maritime hub took another major step forward with the launch of the mixed-use Business District at Dubai Maritime City (DMC) under the patronage of HH Sheikh Ahmed Bin Saeed Al Maktoum, Chairman, Dubai World. HE Mohammed Al Shaibani, the Director General of HH The Ruler’s Court, Government of Dubai, Khamis Juma Buamim, Chairman Drydocks and Maritime World, senior company executives, government officials, representatives of developers participating in the project…

Rear Admiral Wendi B. Carpenter, USN (Ret.) President of State University of New York Maritime College.

INSIGHTS: Maritime Education

Rear Admiral Wendi B. Carpenter, USN (Ret.) President of State University of New York Maritime College weighs in. Rear Admiral Wendi Carpenter assumed the position President at of SUNY Maritime College less than 6 months ago. Already, however, she is showing the collective maritime world her own unique brand of leadership, in many different ways. As the first woman to serve as SUNY Maritime College President, she also aims to be trailblazer in other, perhaps more significant roles. Follow along as she shares her vision for what a modern maritime academy should be, and why.

Image courtesy  Institute of High Performance Computing (IHPC)

Singapore Sets Out to Curb Ship Collisions

Singapore is set to get new technology to help in preventing ship collisions.The Maritime and Port Authority of Singapore (MPA) said it has engaged the services of the Agency for Science, Technology and Research's Institute of High Performance Computing (IHPC), Singapore Management University (SMU) and Fujitsu to develop new predictive technologies for maritime vessel traffic management. These predictive technologies will tap the power of artificial intelligence and big data analytics, to enhance navigational safety within the Port of Singapore.