Globus Maritime Limited operates as an integrated dry bulk shipping company, providing marine transportation services on a worldwide basis.
The company 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. The operations of the vessels are managed by Globus Shipmanagement Corp. (the Manager), a wholly owned Marshall Islands corporation.
The company’s operations are managed by its...
Globus Maritime Limited operates as an integrated dry bulk shipping company, providing marine transportation services on a worldwide basis.
The company 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. The operations of the vessels are managed by Globus Shipmanagement Corp. (the Manager), a wholly owned Marshall Islands corporation.
The company’s operations are managed by its Glyfada, Greece-based wholly owned subsidiary, Globus Shipmanagement Corp., which it refers to as its Manager, which provides in-house commercial and technical management for its vessels and provided consulting services for an affiliated ship-management company. The company’s Manager has entered into a ship management agreement with each of its wholly owned vessel-owning (or bareboat chartering in through financial arrangements) subsidiaries to provide services that include managing day-to-day vessel operations, such as supervising the crewing, supplying, maintaining of vessels and other services.
The company owns or charters in each of its vessels through separate, wholly owned subsidiaries, all of which are incorporated in the Marshall Islands. The company’s Supramax vessel is geared. In addition to the above vessels, the company has contracted for the construction of four additional Ultramaxes.
The company owns or charters in each of its vessels through separate, wholly owned subsidiaries, all of which are incorporated in the Marshall Islands. The company’s Supramax vessel is geared. The company and its Manager have developed relationships with a number of international charterers, vessel brokers, financial institutions, insurers and shipbuilders. The company has also developed a network of relationships with vessel brokers who help facilitate vessel charters and acquisitions.
Customers
The company generally charters its vessels to operators, trading houses (including commodities traders), shipping companies and producers and government-owned entities and generally avoid chartering its vessels to companies it focuses to be speculative or undercapitalized entities.
Since its operations began in September 2006, the company’s customers have included Hyundai Glovis Co. Ltd., Dampskibsselskabet NORDEN A/S, NYK Bulk & Projects Carriers Ltd. and Olam Global Agri Pte Ltd. In addition, during the periods when some of the company’s vessels were trading on the spot market, they have been chartered to charterers, such as Cargill International SA, Oldendorff GmbH & Co KG, Western Bulk Pte. Ltd., Ausca Shipping HK Limited and others, thus expanding its customer base.
Seasonality
The company’s fleet consists of dry bulk vessels that operate in markets that have historically exhibited seasonal variations in demand and, as a result, in charter rates.
Environmental and Other Regulations
The conventions, laws and regulations to which the company is subject include the International Maritime Organization (IMO); the Safety of Life at Sea Convention of 1974, as amended; the International Convention for the Prevention of Pollution from Ships 1973 as amended by the 1978 Protocol; the U.S. Environmental Protection Agency; the International Convention on the Control of Harmful Anti-fouling Systems on Ships; an International Convention for the Control and Management of Ships’ Ballast Water and Sediments; the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships adopted by the IMO in 2009; the International Convention on Oil Pollution Preparedness, Response and Co-operation, 1990; European Regulations; the United Nations Convention on the Law of the Sea; the U.S. Oil Pollution Act 1990, as amended; the Comprehensive Environmental Response, Compensation, and Liability Act; the United States Clean Water Act; the U.S. Coast Guard and Customs and Border Protection; the International Convention on Civil Liability for Oil Pollution Damage of 1969, as amended by the 1992 Protocol and further amended in 2000; the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage 1971, as amended; and International Labour Organization’s Maritime Labour Convention was adopted in 2006.
The vessels that the company operates maintain ISM and ISPS certifications for safety and security of operations.
History
Globus Maritime Limited was founded in 2006. The company was incorporated in 2006 pursuant to the Companies (Jersey) Law 1991 (as amended). In 2010, the company was redomiciled into the Marshall Islands pursuant to the Marshall Islands Business Corporations Act.