Globus Maritime Limited report its unaudited consolidated financial results for the second quarter and six-month period ended June 30, 2025:
Revenue
- US$9.5 million in Q2 2025
- US$18.2 million in H1 2025
Adjusted EBITDA
- US$3.2 million in Q2 2025
- US$5.2 million in H1 2025
Time charter equivalent
- US$11 444 per day in Q2 2025
- US$10 274 per day in H1 2025
Current fleet profile
As of the date of this press release, Globus’ subsidiaries own and operate nine dry bulk carriers, consisting of six Kamsarmax and three Ultramax.
Management commentary
“During the second quarter of 2025, rates edged higher compared to the softer averages of the first quarter, though they remained somewhat subdued overall. The quarter was marked by significant volatility in both freight rates and asset pricing – particularly for older vessels. Much of this fluctuation and weakness can be attributed to regulatory and geopolitical developments that dampened market confidence midway through the quarter, resulting in a temporary loss of momentum.
Toward the end of the quarter, however, we observed a gradual recovery in rates. This positive trend gained traction, supporting both stronger freight levels and firmer asset values. As of this writing, rates are standing at very healthy levels.
With the majority of our fleet employed in the spot market or with index-linked exposure, we are well positioned to capture the current upside. Our outlook for the short to medium term remains constructive. We are confident that our modern fleet will continue to benefit from favourable market dynamics, underpinned by healthy cargo flows, supportive ton-mile developments, and a relatively modest newbuilding orderbook.
In line with our fleet renewal and growth strategy, we expect delivery of two additional fuel-efficient Ultramaxes currently under construction in Japan, scheduled for in about a year from now.
We are also in active discussions with both existing and prospective financial institutions to secure competitive financing for our fleet and newbuildings. Our priority remains to maintain a strong balance sheet while keeping funding costs at reasonable levels."
Click here for free registration to Dry Bulk