Globus Maritime Ltd Delivery of the Vessel "Jin Star"


 

TIDMGLBS 
 
RNS Number : 4298O 
Globus Maritime Ltd 
29 June 2010 
 

 
Globus Maritime Ltd Announces the Delivery of the 2010-Built Kamsarmax Dry Bulk 
Carrier "Jin Star" 
 
 
Athens, Greece, June 29, 2010. Globus Maritime Ltd("Globus" or the "Company") 
(AIM: GLBS), a global shipping transportation company that owns and operates dry 
bulk carriers, announces that it took delivery today from an unaffiliated third 
party of the bulk carrier "Jin Star", a 79,800 DWT Kamsarmax Bulk Carrier built 
in 2010 by Jiangsu Eastern Heavy Industry Co. in China, which it had previously 
agreed to acquire as announced on June 23, 2010. 
 
The vessel will fly the flag of Panama, and will continue her deployment under a 
bareboat charter for a period of 5 years (plus 1 year at Bareboat Charterers' 
option plus another year at Globus' option) to a Far Eastern shipping entity. 
 
The vessel was financed from a new bank facility that the Company agreed with 
Deutsche Schiffsbank AG, and cash balances. 
 
Globus' fleet today comprises of a total of five modern dry bulk carriers with a 
total carrying capacity of 319,952 dwt and a weighted average age of just 3.4 
years, well below the industry average. 
The following table represents the Company's fleet as on the date of this 
release: 
+---------+-------+----------+-------------+-----------+---------+----------+ 
| Vessel  | Year  |          |             | Month/Yr  |  DWT    | FLAG     | 
|         |Built  | Yard     | Type        |Delivered  |         |          | 
+---------+-------+----------+-------------+-----------+---------+----------+ 
| River   | 2007  | Yangzhou | Supramax(1) |    Dec    |  53,500 | Marshall | 
| Globe   |       | Dayang   |             |   2007    |         | Islands  | 
+---------+-------+----------+-------------+-----------+---------+----------+ 
| Sky     | 2009  | Taizhou  | Supramax(1) |    May    |  56,855 | Marshall | 
| Globe   |       | Kouan    |             |   2010    |         | Islands  | 
+---------+-------+----------+-------------+-----------+---------+----------+ 
| Star    | 2010  | Taizhou  | Supramax(1) |    May    |  56,868 | Marshall | 
| Globe   |       | Kouan    |             |   2010    |         | Islands  | 
+---------+-------+----------+-------------+-----------+---------+----------+ 
| Tiara   | 1998  | Hudong   | Panamax(1)  |    Dec    |  72,929 | Marshall | 
| Globe   |       | Zhonghua |             |   2007    |         | Islands  | 
+---------+-------+----------+-------------+-----------+---------+----------+ 
| Jin     | 2010  | Jiangsu  | Kamsarmax   | June      |  79,800 | Panama   | 
| Star    |       | Eastern  |             | 2010      |         |          | 
+---------+-------+----------+-------------+-----------+---------+----------+ 
| Weighted Average Age at    | 3.4         |           | 319,952 |          | 
| 30/06/2010                 | years       |           |         |          | 
+---------+-------+----------+-------------+-----------+---------+----------+ 
Note (1): The vessel is geared and fitted with grabs. 
 The following table represents the employment profile of the fleet as of the 
date of this release: 
+------------+---------------+------+------------+-------------+--------+ 
| Vessel     | Charterer     | Type | Charter    | Charter     | Gross  | 
|            |               |      | Expiration | Expiration  | Daily  | 
|            |               |      | Date       | Date        | rate   | 
|            |               |      | (Earliest) | (Latest)(1) | (US$)  | 
+------------+---------------+------+------------+-------------+--------+ 
| River      | Eastern Bulk  | T/C  |  9/2010    |  11/2010    |25,000  | 
| Globe      | Carriers      |      |            |             |        | 
+------------+---------------+------+------------+-------------+--------+ 
| Sky Globe  | Currently on  |      |    n/a     |    n/a      |30,000  | 
|            | Spot          |      |            |             |        | 
+------------+---------------+------+------------+-------------+--------+ 
| Star Globe | Transgrain    | T/C  |  5/2011    |   7/2011    |22,000  | 
+------------+---------------+------+------------+-------------+--------+ 
| Tiara      | Transgrain    | T/C  |  2/2012    |   5/2012    |20,000  | 
| Globe      |               |      |            |             |        | 
+------------+---------------+------+------------+-------------+--------+ 
| Jin Star   | Far East      | B/B  |  1/2015    |   1/2017    |14,250  | 
|            | Charterer     |      |            |             |        | 
+------------+---------------+------+------------+-------------+--------+ 
Note: 
(1)        The latest charter expiration date represents the last day on which 
the charterer may redeliver the vessel upon the termination of the charter 
assuming that all options for additional hire periods under the charter are 
exercised, including taking into account expected off-hire days because of 
scheduled dry-dockings. 
 
                                    - ENDS - 
 
For further information please contact: 
 
Globus Maritime Limited                   +30 210 960 8300 
George Karageorgiou, CEO               info@globusmaritime.gr 
 
Jefferies International Limited            +44 (0) 20 7029 8000 
Schuyler Evans 
Oliver Griffiths 
Anne Dovigen 
 
Capital Link - London                       +44 (0) 20 3206 1322 / 
globus@capitallink.com 
Annie Evangeli 
 
Capital Link - New York                   +1 212 661 7566 / 
globus@capitallink.com 
Ramnique Grewal 
 
Further Information - Notes to Editors 
 
About Globus Maritime Limited 
 
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. Currently, Globus owns one panamax, one 
Kamsarmax, and three supramax vessels, with a weighted average age of 3.4 years 
(as at June 30, 2010) and a total carrying capacity of 319,952 DWT. 
 
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. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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