Globus Maritime Expands Fleet to Seven with Supramax Delivery

press release September 17, 2011

Globus Maritime Announces the Delivery of the Supramax "Sun Globe," Expanding Fleet to Seven Vessels.

Globus Maritime Limited ("Globus" or the "Company"), (NASDAQ: GLBS), a dry bulk shipping company, announced that it has taken delivery of the M/V "Sun Globe," a 2007-built Supramax dry bulk carrier it acquired for a purchase price of $30.3 million, which the Company had previously announced in March 2011.

The M/V "Sun Globe" was built at the Tsuneishi Heavy Industries Cebu yard and has a carrying capacity of 58,790 DWT. Following delivery, the vessel will continue her deployment under a time charter to Cosco Qingdao at the gross daily rate of $16,000 until (min) January / (max) March 2015. Following this acquisition, the fleet of Globus comprises of seven modern dry bulk carriers with a total carrying capacity of 452,886 DWT and a weighted average age of 4.8 years as of September 15, 2011.