We will examine the market and hopefully find lucrative business for the vessel when the scheduled maintenance is completed.
Additionally, we have recently announced the delivery of our new vessel m/v Power Globe joining our fleet which immediately performed a short trip at about $31,000 gross per day before proceeding to drydocking for her scheduled maintenance. As previously communicated, the vessel assumed a charter cover until about the end of the year. “In early June we have taken delivery of m/v Diamond Globe, further expanding and modernizing our fleet. We feel that the new refinancing and new relationship with a respectable financial institution provides the Company with a good base for the future. We have managed to refinance and reduce our bank debt at much lower levels compared to our previous loan agreements with the effects to be visible in the following quarters and years. “During the second Quarter we continued to improve our balance sheet and build up our fleet. Since we expect the market to remain strong for the medium term and as our fleet comes out from legacy charters, we will be able to take advantage of the strong rates by positioning it accordingly. The combined effect of a healthy demand and a limit on the supply of ships helps the market and elevates rates.
There is significant congestion in ports all around the globe mainly due to COVID-19 related delays and complications. On the demand side, we see a healthy demand of commodities both on the major as well as the minor bulks. We are pleased to see increased rates across all sectors, the factors being demand as well as supply driven. “During the second quarter we have seen the market gaining momentum. See a later section of this press release for a reconciliation of Daily TCE to Voyage revenues.Īs of the date of this press release, Globus’ subsidiaries own and operate seven dry bulk carriers, consisting of four Supramax, one Panamax and two Kamsarmax.Īll our vessels are currently operating on short-term time charters (“on spot”). The weighted average number of shares for the three-month period ended Jwas 10,774,058 compared to 108,577 shares for the three-month period ended June 30, 2020.ĭaily Time charter equivalent rate (“TCE”) is a measure not in accordance with generally accepted accounting principles (“GAAP”). The weighted average number of shares for the six-month period ended Jwas 9,001,704 compared to 83,354 shares for the six-month period ended June 30, 2020. See a later section of this press release for a reconciliation of Adjusted EBITDA to total comprehensive loss and net cash used in operating activities, which are the most directly comparable financial measures calculated and presented in accordance with the GAAP measures. dollars except for daily rates and per share data)ĭaily Time charter equivalent rate (“TCE”) (3)Īverage operating expenses per vessel per dayĪdjusted EBITDA is a measure not in accordance with generally accepted accounting principles (“GAAP”).
0 kommentar(er)
