Globus Maritime Sells Handymax Dry Bulk Carrier

October 13, 2009

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. Taking depreciation and amortization into account the Company expects to realize a book loss of approximately $3.5m on this sale. Globus intends to utilize the cash proceeds to repay bank debt and strengthen its liquidity.

Logistics News

Major Port Investment in Atlantic Canada

DP World Marks Record 8.3% Growth in Container Handling for 2024

DP World Marks Record 8.3% Growth in Container Handling for 2024

Lithuanian Port Goes Forward with Quay Reconstruction for Offshore Wind

Lithuanian Port Goes Forward with Quay Reconstruction for Offshore Wind

Smuggled Horses Intercepted at Port

Smuggled Horses Intercepted at Port

Subscribe for Maritime Logistics Professional E‑News

Maguire: Europe's gas-use pace could slow down as the coal switchover kicks in.
Enterprise Products lacks customers to export US crude oil
Syria signs new contract with CMA CGM for the operation of Latakia Port Container Terminal