Globus Maritime Limited
- Open
- 2.93
- Day high
- 3.15
- Day low
- 2.93
- Prev close
- 2.99
- Volume
- 28K
- Mkt cap
- $68M
- P/E (TTM)
- 88.2
- EPS (TTM)
- $0.04
- P/B
- 0.4
- P/S
- 1.4
- Yield
- —
- Per share
- —
Globus Maritime Limited (GLBS) is a Industrials company listed on NASDAQ. The stock is up 156% over the past year.
Globus Maritime Limited (GLBS) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
GLBS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 10, 2026 | $-0.05 | $0.05 | +200.0% | $12M | +17.8% |
| Mar 16, 2026 | $-0.09 | $0.05 | +155.6% | $13M | +16.0% |
| Nov 28, 2025 | $-0.12 | $0.04 | +133.3% | $13M | +20.0% |
| Sep 19, 2025 | $-0.18 | $-0.09 | +50.0% | $10M | +0.4% |
| Jun 16, 2025 | $-0.09 | $-0.07 | +22.2% | $9M | -19.4% |
| Mar 14, 2025 | $-0.09 | $-0.10 | -11.1% | $9M | -4.5% |
| Nov 29, 2024 | $-0.10 | $-0.03 | +70.0% | $9M | -1.6% |
| Sep 12, 2024 | $0.02 | $0.09 | +300.0% | $10M | +22.0% |
| Jun 7, 2024 | $-0.01 | $-0.01 | -49.9% | $8M | -3.6% |
| Mar 15, 2024 | $-0.10 | $0.02 | +120.0% | $7M | -11.1% |
| Nov 16, 2023 | $0.03 | $0.17 | +466.7% | $8M | +0.0% |
| Sep 12, 2023 | $0.38 | $-0.06 | -115.8% | $8M | -27.5% |
GLBS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Mar 31, 2026 | Feidakis Georgiosdirector | Buy | 15,395 | $1.93 |
| Mar 26, 2026 | Feidakis Georgiosdirector | Buy | 11,100 | $1.80 |
| Mar 25, 2026 | Feidakis Georgiosdirector | Buy | 11,007 | $1.75 |
| Mar 25, 2026 | Feidakis Georgiosdirector | Buy | 22,542 | $1.74 |
| Mar 25, 2026 | Feidakis Georgiosdirector | Buy | 7,536 | $1.75 |
| Mar 25, 2026 | Feidakis Georgiosdirector | Buy | 38,947 | $1.79 |
Source: GLBS SEC Form 4 filings, latest Mar 31, 2026. For informational purposes only — not investment advice.
See the full GLBS insider & 13F page →Globus Maritime Limited company profile
Overview
Globus Maritime Limited (NASDAQ:GLBS) is a Greek-based integrated dry bulk shipping company that has been operating in the global maritime transport industry since its incorporation in 2006. The company went public in 2008 and operates as a subsidiary of Firment Trading Limited. Headquartered in Athens, Greece, Globus Maritime owns and operates a fleet of dry bulk vessels that transport essential commodities across international waters, serving customers worldwide including major trading houses, shipping companies, and government entities.
Business
Globus Maritime operates in the dry bulk shipping industry, a critical segment of global maritime transportation that moves essential raw materials and commodities around the world. The company's core business involves owning, operating, and managing a fleet of specialized cargo vessels designed to transport dry bulk commodities. The company's fleet consists of nine vessels with a combined carrying capacity of 626,257 deadweight tonnage (DWT). These ships are specifically designed to transport various types of dry bulk cargoes, which are unpackaged goods that are loaded directly into a ship's cargo holds. The primary commodities transported include iron ore (used in steel production), coal (for energy generation), grain (agricultural products like wheat, corn, and soybeans), steel products, cement (for construction), alumina (used in aluminum production), and other industrial raw materials. Dry bulk shipping is fundamentally different from container shipping or tanker operations. Unlike containerized cargo that comes in standardized boxes, or liquid cargo transported in tankers, dry bulk commodities are loaded loose into the ship's cargo holds using specialized port equipment like conveyor belts, grabs, or pneumatic systems. The vessels themselves are designed with large, open cargo holds and deck-mounted cranes or conveyor systems to facilitate loading and unloading operations. The company operates as an integrated shipping service provider, meaning it handles multiple aspects of the transportation process rather than just owning vessels. This includes vessel management, crew management, technical maintenance, and commercial operations to secure cargo contracts and optimize vessel utilization.
Revenue model
Globus Maritime generates revenue primarily through time charter agreements and voyage charter contracts with its customers. In time charter arrangements, customers lease the entire vessel for a specified period (typically months to years) and pay a daily charter rate, while the charterer is responsible for fuel costs, port expenses, and cargo operations. In voyage charters, the company is paid a lump sum to transport cargo from one port to another, with Globus bearing the voyage costs including fuel and port charges. The company's paying customers include commodity trading houses (companies that buy and sell raw materials globally), other shipping companies that need additional vessel capacity, industrial producers who need to transport their products, and government-owned entities that require shipping services for strategic commodities. Recent financial data shows annual revenues of approximately $35 million in 2024, down from $62 million in 2022, reflecting the cyclical nature of the dry bulk market. Several factors significantly impact the company's profitability margins. Charter rates, which are the prices customers pay for shipping services, fluctuate based on global supply and demand dynamics for both vessels and the commodities being transported. When global trade volumes increase or when there's a shortage of available vessels, charter rates rise, improving margins. Conversely, economic slowdowns or oversupply of shipping capacity depress rates. Fuel costs represent a major expense, particularly for voyage charters where Globus bears these costs. Oil price volatility directly impacts profitability, though some of this risk can be hedged through fuel price contracts. Vessel operating expenses including crew costs, maintenance, insurance, and regulatory compliance create a fixed cost base that must be covered regardless of charter rates. The company's margins are also affected by vessel utilization rates - the percentage of time ships are employed versus sitting idle. Market conditions, seasonal demand patterns for certain commodities, and the company's commercial management effectiveness all influence utilization. Additionally, dry-docking requirements for mandatory vessel maintenance and inspections create periodic revenue interruptions and significant capital expenditures that impact cash flow timing.
Competitive moat
Globus Maritime operates in the highly competitive and cyclical dry bulk shipping industry, where sustainable competitive advantages are limited. The company's moat is relatively narrow and primarily consists of operational efficiency and strategic fleet positioning rather than structural barriers to competition. The company's main competitive advantages include its experienced management team with deep knowledge of Greek shipping traditions and global maritime operations, and its strategic fleet composition focused on versatile vessel sizes that can access a wide range of ports and cargo types. The company's relatively small size allows for more nimble decision-making compared to larger shipping conglomerates, potentially enabling quicker responses to market opportunities. However, the dry bulk shipping industry is characterized by low barriers to entry and commodity-like services where price competition is intense. Vessels can be easily redeployed between different trade routes and cargo types, making customer loyalty minimal. The industry faces constant pressure from new vessel deliveries that increase global capacity, and older vessels can remain economically viable for decades with proper maintenance. Significant competitive threats come from larger, better-capitalized shipping companies that can offer more comprehensive services, achieve better economies of scale, and weather market downturns more effectively. Additionally, shipowners from countries with lower operating costs or favorable regulatory environments can offer more competitive charter rates. The rise of digital platforms for charter booking and the increasing consolidation among commodity traders also intensify competitive pressures. The company's small fleet size limits its ability to offer comprehensive logistics solutions to large customers who prefer dealing with fewer, larger suppliers. This structural disadvantage becomes more pronounced during market downturns when customers consolidate their shipping relationships with financially stronger counterparts.
Risks & safety
Globus Maritime presents moderate financial risk with some concerning liquidity trends but reasonable debt levels. • Cash position: Strong cash reserves of $46.8 million as of Q4 2024, though declining from $74.2 million in 2023, indicating potential cash burn concerns • Debt levels: Debt-to-equity ratio of 0.78 as of Q4 2024, up from 0.30 in early 2024, suggesting increased leverage but still manageable levels • Solvency risk: Current ratio of 1.53 provides adequate short-term liquidity coverage, though significantly lower than the 8.35 ratio in 2023 • Cash flow: Negative free cash flow of $101.9 million in 2024 primarily due to vessel acquisitions and capital expenditures, with operating cash flow positive at $11.3 million • Valuation metrics: EV/EBITDA of 5.6x appears reasonable for the shipping industry, though earnings volatility makes P/E ratios less meaningful • Cyclical risks: Highly exposed to dry bulk market cycles with revenue declining from $62 million in 2022 to $35 million in 2024, demonstrating significant earnings volatility inherent to the shipping industry
Recent development
Based on the available financial data, Globus Maritime has undergone significant fleet expansion and capital investment over the past few years. The company's negative free cash flows of over $100 million in 2024, combined with substantial increases in total assets from $225 million in 2022 to $321 million in 2024, indicate major vessel acquisitions or upgrades during this period. The company appears to have been opportunistically expanding its fleet during a period of market volatility, as evidenced by the significant capital expenditures that drove free cash flow deeply negative despite positive operating cash flows. This strategy suggests management's confidence in long-term dry bulk market fundamentals, even as near-term charter rates have declined. Financial restructuring has also been evident, with the debt-to-equity ratio increasing substantially from 0.30 to 0.78 between early 2024 and year-end, indicating the company has taken on additional financing to fund its expansion activities. The company has maintained strong cash positions throughout this expansion phase, though cash reserves have declined from over $74 million to under $47 million. The operational performance has shown mixed results, with quarterly revenues fluctuating between $7.7 million and $9.5 million in 2024, reflecting the volatile nature of charter markets. Despite revenue challenges, the company has maintained positive EBITDA in most quarters, suggesting disciplined cost management during the expansion phase.
GLBS company profile · for informational purposes only — not investment advice.
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