GLOBUS MARITIME LTD (GLBS) Form 6-K — Jun 10, 2026
Globus Maritime Limited (GLBS) reported a strong first quarter of 2026, turning a $1.5 million net loss in Q1 2025 into a $1.1 million net income. Revenue surged 42% year-over-year to $12.2 million, primarily driven by a 68% increase in daily Time Charter Equivalent (TCE) rates, which rose from $9,370 to $15,706 per vessel per day. The company maintained high fleet utilization at 98.5% across its nine-vessel dry bulk fleet and generated $4.9 million in operating cash flow. As of March 31, 2026, Globus held $30.0 million in cash and equivalents against $107.3 million in total debt, remaining in compliance with all debt covenants.
Key figures
- Eps
- 0.05
- Revenue
- 12248000
- Net Income
- 1089000
- Total Debt
- 107330000
- Revenue Yoy
- 42%
- Cash Position
- 30035000
- Tce Rate Per Day
- 15706
- Adjusted Ebitda
- 6198000
- Average Vessels
- 9
- Fleet Utilization
- 98.5%
- Operating Cash Flow
- 4858000
- Tce Rate Per Day Prior Year
- 9370
AI analysis
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