Globus Maritime Explores Sale and Leaseback Financing for Ultramax Vessel in Strategic Maritime Move

Nasdaq-Listed Greek Operator Delves into Financial Optimization, Initiates Negotiations for 64,000 DWT Unit from Nantong Cosco KHI Ship Engineering


Nasdaq-listed Greek dry bulk operator Globus Maritime is actively exploring the utilization of sale and leaseback financing arrangements for one of its upcoming ultramax vessels currently under construction in China.

Globus Maritime’s subsidiary, Daxos Maritime, is presently engaged in negotiations pertaining to a 64,000 deadweight tonnage (dwt) unit, anticipated to be delivered in 2024 by Nantong Cosco KHI Ship Engineering. The proposed transaction contemplates a sale to an independent third party at an agreed purchase price of $28 million, scheduled for completion on or around September 30 of the following year. Following the sale, a bareboat charter arrangement is envisaged, extending over a ten-year term and involving Daxos as the charterer.

Under the terms of the agreement, Daxos Maritime retains the option to exercise a purchase of the vessel during the charter period, coupled with a binding obligation to acquire the vessel at the termination of the charter for a predetermined sum of $15.81 million. It is noteworthy that the consummation of this transaction is contingent upon the satisfaction of various conditions, necessitating negotiation, agreement, and approval from all concerned parties.

Presently, Globus Maritime’s subsidiaries oversee the ownership and operation of a fleet comprising six bulk carriers, complemented by an additional five ultramaxes on order, two of which are scheduled for delivery from Nantong COSCO in the coming year. This strategic move aligns with the company’s broader financial and operational objectives, demonstrating a proactive approach in optimizing its fleet composition and financial structure within the dynamic maritime sector.

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