Globus Maritime Announces the Acquisition of a 2007-Built Supramax Dry Bulk Carrier

Globus Maritime Limited, a dry bulk vessel owner and operator, announced that it has agreed to purchase from an unaffiliated third party a 58,790 DWT Supramax dry bulk carrier for a purchase price of $30.3 million. The vessel was delivered from the Tsuneishi Heavy Industries Cebu yard in 2007.
The vessel is expected to be delivered to the Company during the third quarter of 2011. Upon her delivery to Globus she will continue her deployment under a time charter to Cosco Qingdao at the gross daily rate of $16,000 until the first quarter of 2015.
On completion of this acquisition, the Company's fleet will expand to six modern dry bulk carriers with a total carrying capacity of 378,703 DWT and a weighted average age of 4.6 years (as of September 30, 2011).
George Karageorgiou, President and CEO of Globus commented: "Consistent with our strategy to own modern assets, and to seek accretive acquisitions at the proper time, we have today agreed to acquire a modern Supramax vessel at a very competitive price. This acquisition is expected to provide additional visibility to our future cash flows, as the vessel is chartered until the first quarter of 2015. We continue to look for vessels that will be accretive to our profitability and cash flows."
Source: Globus Maritime