ATHENS, GREECE--(Marketwire -02/22/12)- Globus Maritime Limited ("Globus" or the "Company"), (NASDAQ: GLBS - News), a dry bulk shipping company, announced today that the M/V Star Globe, a 2010-built 56,867 DWT Supramax bulkcarrier, (the "Vessel"), was arrested in Panama by a bunker supplier who had not been paid by Allied Maritime Inc., the previous charterer of the Vessel (the "Charterer"). To secure the Vessel's release from arrest, the Company paid the bunker supplier's invoice in full, plus legal costs. Furthermore, the Company has paid an overdue invoice, plus legal costs, of a second bunker supplier, who had also not been paid by the Charterer, and who had threatened to arrest the Vessel. Following these payments amounting to $593,537 in total, the arrest of the Vessel has been lifted. The Company is currently considering its legal options to recover the amounts paid, in addition to all other amounts owed by the Charterer.
About Globus Maritime Limited
Globus is an integrated dry bulk shipping company that provides marine transportation services worldwide and presently owns, operates and manages a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina and other dry bulk cargoes internationally. Globus' subsidiaries own and operate seven vessels with a total carrying capacity of 452,886 DWT and a weighted average age of 5.1 years as of December 31, 2011.
Safe Harbor Statement
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