Globus Maritime Reports Q1 Financial Shift

Globus Maritime (GLBS) has released an update.

Globus Maritime Limited reported a net loss of $0.3 million for Q1 2024, a noticeable shift from the $2.6 million net income in Q1 2023, with revenue dropping to $7.7 million from $8.6 million. Despite the decline, the company saw an increase in its Time Charter Equivalent rate and took delivery of a new fuel-efficient Ultramax vessel, while continuing to modernize its fleet with upcoming deliveries. These strategic expansions and the healthy charter market outlook reflect the company’s effort to strengthen its fleet and shareholder value.

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