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GLOBUS MARITIME LIMITED Globus Maritime Limited Reports Financial Results for the Quarter Ended March 31 , 2021 Glyfada , Greece , June 18 , 2021 , Globus Maritime Limited ( " Globus " , the " Company " , " we " , or " our " ) ( NASDAQ : GLBS ) , a dry bulk shipping company , today reported its unaudited consolidated operating and financial results for the quarter ended March 31 , 2021 . Financial Highlights . In Q1 2021 , Total revenues increased by about 126 % compared to Q1 2020 . • The Adjusted EBITDA for Q1 2021 increased by 2.97 million or 1.8 times compared to Q1 2020 . • • • As of March 31 , 2021 and December 31 , 2020 , our cash and bank balances and bank deposits ( including restricted cash ) were $ 53.1 and $ 21.1 million , respectively , an increase of 152 % . The Total comprehensive loss for Q1 2021 decreased by about 92 % compared to Q1 2020 . As of March 31 , 2021 , the total outstanding borrowings under our Loan agreements decreased to $ 31 million compared to $ 40 million as of March 31 , 2020 , gross of unamortized debt discount , a decrease of about 23 % . Three months ended March 31 , ( Expressed in thousands of U.S dollars except for daily rates and per share data ) 2021 2020 Total revenues Total comprehensive loss Adjusted EBITDA ( 1 ) Basic loss per share ( 2 ) 5,167 2,290 ( 766 ) ( 9,002 ) 1,306 ( 1,664 ) ( 0.11 ) ( 154,85 ) Daily Time charter equivalent rate ( " TCE " ) ( 3 ) 9,857 2,173 5,698 4,521 6.0 5.0 Average operating expenses per vessel per day Average number of vessels ( 1 ) Adjusted EBITDA is a measure not in accordance with generally accepted accounting principles ( " GAAP " ) . 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 . ( 2 ) The weighted average number of shares for the three - month period ended March 31 , 2021 was 7,209,657 compared to 58,132 shares for the three - month period ended March 31 , 2020 . ( 3 ) Daily Time charter equivalent rate ( " TCE " ) is a measure not in accordance with generally accepted accounting principles ( " GAAP " ) . See a later section of this press release for a reconciliation of Daily TCE to Voyage revenues . Current Fleet Profile As 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 . Year Vessel Yard Type Built Month / Year Delivered DWT Flag Moon Globe 2005 Hudong - Zhonghua Panamax June 2011 74,432 Marshall Is . Sun Globe 2007 Tsuneishi Cebu Supramax Sept 2011 58,790 Malta River Globe 2007 Yangzhou Dayang Supramax Dec 2007 53,627 Marshall Is . Sky Globe 2009 Taizhou Kouan Supramax May 2010 56,855 Marshall Is . Star Globe 2010 Taizhou Kouan Supramax May 2010 56,867 Marshall Is . Galaxy Globe 2015 Hudong - Zhonghua Kamsarmax October 2020 81,167 Marshall Is . Diamond Globe 2018 Jiangsu New Yangzi Shipbuilding Co. Kamsarmax June 2021 82,027 Marshall Is . Weighted Average Age : 10.1 Years as of June 18 , 2021 463,765 Registered office : Trust Company Complex , Ajeltake Road , Ajeltake Island , P.O. Box 1405 , Majuro , Marshall Islands MH 96960 Comminucations Address : c / o Globus Shipmanagement Corp. 128 Vouliagmenis Avenue , 3rd Floor , 166 74 Glyfada , Greece Tel : +30 210 9608300 , Fax : +30 210 9608359 , e - mail : info@globusmaritime.gr www.globusmaritime.gr GLBS NASDAQ LISTED