Globus Maritime’s Earnings Reflect Fleet Expansion

Globus Maritime ( (GLBS) ) has released its Q3 earnings. Here is a breakdown of the information Globus Maritime presented to its investors.

Globus Maritime Limited, an integrated dry bulk shipping company, operates a fleet of vessels providing marine transportation services worldwide, specializing in transporting commodities such as iron ore and grain. In its latest earnings report, Globus Maritime revealed a revenue of $9 million for Q3 2024 and $26.2 million for the nine-month period ending September 30, 2024. Despite a net loss of $0.6 million in Q3, the company posted a net income of $2.4 million for the nine-month period, indicating a positive trajectory when compared to the previous year. Key financial metrics highlighted an adjusted EBITDA of $2.9 million for Q3 and $8.9 million for the nine-month period, alongside a time charter equivalent rate of $13,867 per day in Q3. Notably, Globus Maritime has been expanding its fleet, having taken delivery of several new vessels, including the m/v GLBS Angel, and is committed to enhancing its fleet’s efficiency in line with new environmental regulations. Looking forward, the company aims to capitalize on the market’s positive trends and regulatory developments by maintaining a focus on fleet modernization and fuel efficiency to create long-term value for shareholders.