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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. Weighted Average Age: 10.4 Years as of September 27, 2021Īll our vessels are currently operating on short-term time charters (“on spot”). 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. 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”).