Globus Maritime Announces Agreement to Sell Handymax Dry Bulk Carrier

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Tue Jun 30, 2009 11:49am EDT 

  ATHENS, GREECE, Jun 30 (MARKET WIRE) -- 
Globus Maritime Limited ("Globus" or the "Company") (AIM: GLBS) (LSE:
GLBS), a marine transportation company that owns and operates a fleet of
Handymax and Panamax dry bulk ocean-going vessels, announces that it has
signed a Memorandum of Agreement with an unaffiliated third party for the
sale of the M/V "Gulf Globe," a 1994-built Handymax dry bulk carrier of
approximately 43,245 dwt, for the gross price of US$16 million in cash.

    Delivery to the new owners is expected to take place between August 15,
2009 and October 30, 2009, at the option of Globus.

    Taking depreciation and amortization into account the Company expects to
realize a book loss of approximately US$4.2 million on this sale. Globus
intends to utilize the cash proceeds to repay bank debt and strengthen its
liquidity.

    Further Information - Notes to Editors

    About Globus Maritime Limited

    Globus is a global provider of seaborne transportation services for dry
bulk cargoes, including among others iron ore, coal, grain, cement, and
fertilizers, along worldwide shipping routes. On June 30, 2009, Globus
owned seven vessels with a total carrying capacity of 372,369 dwt and a
weighted average age of approximately 12.1 years.

    Following the delivery of the "Island Globe" and the "Gulf Globe" to their
respective new owners, the Company will own and operate four Handymax
vessels and one Panamax vessel, with a weighted average age of
approximately 10.9 years (as at June 30, 2009) and a total carrying
capacity of 256,005 dwt. All five vessels are geared.

    Globus is listed on the AIM of the London Stock Exchange under ticker
GLBS. Jefferies International Limited is acting as nominated adviser and
broker to the Company.

    

For further information please contact:

Globus Maritime Limited
George Karageorgiou
CEO
+30 210 960 8300
info@globusmaritime.gr

Jefferies International Limited
Schuyler Evans
Anne Dovigen
+44 (0) 20 7029 8000

Capital Link - London
Annie Evangeli
+44 (0) 20 3206 1322
globus@capitallink.com

Capital Link - New York
Ramnique Grewal
+1 212 661 7566
globus@capitallink.com

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