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.
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.