Cover
Cover | 6 Months Ended |
Jun. 30, 2021 | |
Cover [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2021 |
Document Fiscal Period Focus | Q2 |
Document Fiscal Year Focus | 2021 |
Current Fiscal Year End Date | --12-31 |
Entity File Number | 001-34985 |
Entity Registrant Name | Globus Maritime Limited |
Entity Central Index Key | 0001499780 |
Entity Address, Address Line One | 128 Vouliagmenis Avenue |
Entity Address, City or Town | Glyfada, Attica |
Entity Address, Country | GR |
Entity Address, Postal Zip Code | 166 74 |
Unaudited Interim Condensed Con
Unaudited Interim Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
REVENUES: | ||
Voyage revenues | $ 11,996 | $ 4,589 |
Total Revenues | 11,996 | 4,589 |
EXPENSES & OTHER OPERATING INCOME: | ||
Voyage expenses | (294) | (1,975) |
Vessel operating expenses | (6,060) | (4,038) |
Depreciation | (1,492) | (1,176) |
Depreciation of dry-docking costs | (1,115) | (856) |
Administrative expenses | (1,075) | (820) |
Administrative expenses payable to related parties | (309) | (184) |
Share-based payments | (20) | (20) |
Impairment loss | 0 | (4,615) |
Other income, net | 123 | 1 |
Operating profit/(loss) | 1,754 | (9,094) |
Interest income | 3 | 12 |
Interest expense and finance costs | (2,510) | (2,242) |
Loss on derivative financial instruments | (65) | (1,868) |
Foreign exchange gains/(losses), net | 29 | (7) |
TOTAL LOSS FOR THE PERIOD | (789) | (13,199) |
Other Comprehensive Income | 0 | 0 |
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD | $ (789) | $ (13,199) |
Loss per share (U.S.$): | ||
- Basic and Diluted loss per share for the period | $ (0.09) | $ (158.35) |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Financial Position - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
NON-CURRENT ASSETS | ||
Vessels, net | $ 88,152 | $ 62,350 |
Advances for vessels acquisition | 1,631 | 0 |
Office furniture and equipment | 95 | 100 |
Right of use asset | 393 | 450 |
Restricted cash | 3,466 | 1,250 |
Fair value of derivative financial instruments | 111 | 0 |
Other non-current assets | 10 | 10 |
Total non-current assets | 93,858 | 64,160 |
CURRENT ASSETS | ||
Trade receivables, net | 11 | 153 |
Inventories | 468 | 1,248 |
Prepayments and other assets | 934 | 1,027 |
Insurance claims | 336 | 0 |
Restricted cash | 275 | 816 |
Cash and cash equivalents | 74,770 | 19,037 |
Total current assets | 76,794 | 22,281 |
TOTAL ASSETS | 170,652 | 86,441 |
EQUITY | ||
Issued share capital | 80 | 12 |
Share premium | 284,383 | 195,102 |
Accumulated deficit | (153,809) | (153,020) |
Total equity | 130,654 | 42,094 |
NON-CURRENT LIABILITIES | ||
Long-term borrowings, net of current portion | 28,872 | 30,887 |
Provision for staff retirement indemnities | 21 | 31 |
Lease liabilities | 309 | 367 |
Total non-current liabilities | 29,202 | 31,285 |
CURRENT LIABILITIES | ||
Current portion of long-term borrowings | 4,855 | 5,665 |
Trade accounts payable | 1,923 | 4,758 |
Accrued liabilities and other payables | 2,970 | 2,159 |
Current portion of lease liabilities | 161 | 195 |
Current portion of fair value of derivative financial instruments | 176 | 0 |
Deferred revenue | 711 | 285 |
Total current liabilities | 10,796 | 13,062 |
TOTAL LIABILITIES | 39,998 | 44,347 |
TOTAL EQUITY AND LIABILITIES | $ 170,652 | $ 86,441 |
Unaudited Interim Condensed C_2
Unaudited Interim Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Thousands | Issued capital [member] | Share premium [member] | Retained earnings [member] | Total [member] | ||
Balance at Dec. 31, 2019 | $ 0 | [1] | $ 145,527 | $ (135,648) | $ 9,879 | |
Total comprehensive loss for the period | 0 | 0 | (13,199) | (13,199) | ||
Issuance of common shares due to conversion | 0 | 815 | 0 | 815 | ||
Issuance of new common shares (Note 6) | 4 | [1] | 24,203 | 0 | 24,207 | |
Issuance of new common shares due to exercise of Warrants (Note 6) | 0 | 194 | 0 | 194 | ||
Issuance of Class B preferred shares (Note 6) | 0 | 150 | 0 | 150 | ||
Transaction costs on issue of new common shares | 0 | (532) | 0 | (532) | ||
Share-based payments (Note 9) | 0 | 10 | [2] | 0 | 10 | |
Balance at Jun. 30, 2020 | 4 | [1] | 170,367 | (148,847) | 21,524 | |
Balance at Dec. 31, 2020 | 12 | [1] | 195,102 | (153,020) | 42,094 | |
Total comprehensive loss for the period | 0 | 0 | (789) | (789) | ||
Issuance of new common shares (Note 6) | 60 | [1] | 89,520 | 0 | 89,580 | |
Issuance of new common shares due to exercise of Warrants (Note 6) | 8 | [1] | 12 | 0 | 20 | |
Issuance of Class B preferred shares (Note 6) | 130 | 0 | 130 | |||
Transaction costs on issue of new common shares | 0 | (401) | 0 | (401) | ||
Share-based payments (Note 9) | 0 | 20 | 0 | 20 | ||
Balance at Jun. 30, 2021 | $ 80 | [1] | $ 284,383 | $ (153,809) | $ 130,654 | |
[1] | All amounts reflect the reverse stock split effected on October 21, 2020. | |||||
[2] | The second quarter of 2020 share based payment was effected on July 9, 2020. A total of 130 shares were issued for the amount of $10. |
Unaudited Interim Condensed C_3
Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Operating activities | ||
Loss for the period | $ (789) | $ (13,199) |
Adjustments for: | ||
Depreciation | 1,492 | 1,176 |
Depreciation of deferred dry-docking costs | 1,115 | 856 |
Payment of deferred dry-docking costs | (2,225) | (493) |
Provision for staff retirement indemnities | (10) | 3 |
Impairment loss | 0 | 4,615 |
Loss on derivative financial instruments | 65 | 1,868 |
Interest expense and finance costs | 2,510 | 2,242 |
Interest income | (3) | (12) |
Foreign exchange gains, net | (53) | 4 |
Share based payment | 20 | 20 |
Trade receivables, net | 142 | (394) |
Inventories | 780 | 1,079 |
Prepayments and other assets | 93 | (320) |
Insurance claims | (336) | 0 |
Trade accounts payable | (1,372) | (720) |
Accrued liabilities and other payables | 227 | (694) |
Deferred revenue | 426 | 0 |
Net cash generated from / (used in) operating activities | 2,082 | (3,969) |
Cash flows from investing activities: | ||
Vessel acquisition | (27,000) | 0 |
Improvements | (83) | 0 |
Advance for vessel acquisition | (1,631) | 0 |
Purchases of office furniture and equipment | (14) | 0 |
Interest received | 3 | 12 |
Net cash (used in) / generated from investing activities | (28,725) | 12 |
Cash flows from financing activities: | ||
Proceeds from loans | 34,250 | 0 |
Repayment of long-term debt | (1,493) | 0 |
Prepayment of long-term debt | (35,507) | (2,240) |
Proceeds from issuance of share capital | 89,580 | 24,207 |
Proceeds from exercise of Warrants | 20 | 194 |
Transaction costs on issue of new common shares | (401) | (532) |
Increase in restricted cash | (1,675) | (83) |
Repayment of lease liability | (80) | 0 |
Payment of financing costs | (545) | 0 |
Interest paid | (1,773) | (1,728) |
Net cash generated from financing activities | 82,376 | 19,818 |
Net increase in cash and cash equivalents | 55,733 | 15,861 |
Cash and cash equivalents at the beginning of the period | 19,037 | 2,366 |
Cash and cash equivalents at the end of the period | $ 74,770 | $ 18,227 |
Basis of presentation and gener
Basis of presentation and general information | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of subsidiaries [abstract] | |
Basis of presentation and general information | 1. Basis of presentation and general information The accompanying unaudited interim condensed consolidated financial statements include the financial statements of Globus Maritime Limited Marshall Islands The address of the registered office of Globus is: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. The principal business of the Company is the ownership and operation of a fleet of dry bulk motor vessels (“m/v”), providing maritime services for the transportation of dry cargo products on a worldwide basis. The operations of the vessels are managed by Globus Shipmanagement Corp. (the “Manager”), a wholly owned Marshall Islands corporation. The Manager has an office in Greece, located at 128 Vouliagmenis Avenue, 166 74 Glyfada, Greece and provides the commercial, technical, cash management and accounting services necessary for the operation of the fleet in exchange for a management fee. The management fee is eliminated on consolidation. The consolidated financial statements include the financial statements of Globus and its subsidiaries listed below, all wholly owned by Globus as of June 30, 2021: Basis of presentation and general information Company Country of Incorporation Vessel Delivery Date Vessel Owned Globus Shipmanagement Corp. Marshall Islands — Management Co. Devocean Maritime Ltd. Marshall Islands December 18, 2007 m/v River Globe Domina Maritime Ltd. Marshall Islands May 19, 2010 m/v Sky Globe Dulac Maritime S.A. Marshall Islands May 25, 2010 m/v Star Globe Artful Shipholding S.A. Marshall Islands June 22, 2011 m/v Moon Globe Longevity Maritime Limited Malta September 15, 2011 m/v Sun Globe Serena Maritime Limited Marshall Islands October 29, 2020 m/v Galaxy Globe Talisman Maritime Limited (1) Marshall Islands — — Argo Maritime Limited Marshall Islands June 9, 2021 m/v Diamond Globe Calypso Shipholding S.A. Marshall Islands — — Daxos Maritime Limited Marshall Islands — — Olympia Shipholding S.A. Marshall Islands — — Paralus Shipholding S.A. Marshall Islands — — Salaminia Maritime Limited Marshall Islands — — (1) On July 20, 2021, the Company took delivery of the m/v “Power Globe”, a 2011-built Kamsarmax dry bulk carrier, through its subsidiary, Talisman Maritime Limited. These unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of the management, reflect all normal recurring adjustments considered necessary for a fair presentation of the Company’s comprehensive loss, financial position and cash flows for the periods presented. Operating results for the six-month period ended June 30, 2021, are not necessarily indicative of the results that might be expected for the fiscal year ending December 31, 2021. The unaudited interim condensed consolidated financial statements as of and for the six months ended June 30, 2021, have been prepared in accordance with IAS 34 The unaudited interim condensed consolidated financial statements presented in this report do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the consolidated financial statements as of December 31, 2020 and for the year then ended included in the Company’s Annual Report on Form 20-F for the year ended December 31, 2020 (the “2020 Annual Report”). 1. Unless otherwise defined herein, capitalized words and expressions used herein shall have the same meanings ascribed to them in the 2020 Annual Report. The unaudited interim condensed consolidated financial statements as of June 30, 2021 and for the six months then ended, were approved for issuance by the Board of Directors on September 22, 2021. Going Concern basis of accounting: As of December 31, 2020, the Company reported a working capital surplus of $ 9.2 Subsequently, on January 29, 2021, February 17, 2021 and June 25, 2021, the Company completed additional follow-on equity offerings that provided the Company with further liquidity (refer to Note 6). As of June 30, 2021, the Company reported a working capital surplus of $ 66 Impact of COVID-19 on the Company’s Business The impact of the COVID-19 pandemic continues to unfold and may continue to have a negative effect on the Company’s business, financial performance and the results of its operations. As a result, many of the Company’s estimates and assumptions required increased judgment and carry a higher degree of variability and volatility. As events continue to evolve and additional information becomes available, the Company’s estimates may change in future periods. Besides reducing demand for cargo, coronavirus may functionally limit the amount of cargo that the Company and its competitors are able to move because countries worldwide have imposed quarantine checks on arriving vessels, which have caused delays in loading and delivery of cargoes. The Company has evaluated the impact of the current economic situation on the recoverability of the carrying amount of its vessels. During the first quarter of 2020, the Company concluded that events and circumstances triggered the existence of potential impairment of its vessels. These indicators included volatility in the charter market as well as the potential impact the then current marketplace could have on the future operations. As a result, the Company performed an impairment assessment of the Company’s vessels by comparing the discounted projected net operating cash flows for each vessel to its carrying values. For the first half of 2020, the Company concluded that the recoverable amounts of the vessels were lower than their respective carrying amounts and an impairment loss of approximately $4.6 million was recorded (Note 5). As of June 30, 2021, no indicators of impairment or reversal of previously recognized impairment have been identified and the Company concluded that no further impairment of its vessels should be recorded or previously recognized impairment should be reversed. |
Significant Accounting Policies
Significant Accounting Policies and recent accounting pronouncements | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of initial application of standards or interpretations [abstract] | |
Significant Accounting Policies and recent accounting pronouncements | 2. Significant Accounting Policies and recent accounting pronouncements A summary of the Company’s significant accounting policies and recent accounting pronouncements is included in Note 2 to the Company’s consolidated financial statements included in the 2020 Annual Report. The accounting policies adopted are consistent with those of the previous financial year except for the following accounting policies and amended IFRSs which have been adopted by the Company as of January 1, 2021: Interest Rate Benchmark Reform · Interest Rate Benchmark Reform – Phase 2 – IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 (Amendments) In August 2020, the IASB published Interest Rate Benchmark Reform – Phase 2, Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, completing its work in response to IBOR reform. The amendments provide temporary reliefs which address the financial reporting effects when an interbank offered rate (IBOR) is replaced with an alternative nearly risk-free interest rate (RFR). In particular, the amendments provide for a practical expedient when accounting for changes in the basis for determining the contractual cash flows of financial assets and liabilities, to require the effective interest rate to be adjusted, equivalent to a movement in a market rate of interest. Also, the amendments introduce reliefs from discontinuing hedge relationships including a temporary relief from having to meet the separately identifiable requirement when an RFR instrument is designated as a hedge of a risk component. There are also amendments to IFRS 7 Financial Instruments: Disclosures to enable users of financial statements to understand the effect of interest rate benchmark reform on an entity’s financial instruments and risk management strategy. While application is retrospective, an entity is not required to restate prior periods. Management has assessed that these amendments had no impact on the Company’s financial position or performance. Advances for vessels acquisition : Interest Rate Swap : The fair value of the Interest Rate Swaps is classified under “Fair value of derivative financial instruments” either under assets or liabilities in the statement of financial position. In the event that the respective asset or liability is expected to be materialized within the next twelve months, is classified as current asset or liability. Otherwise, the respective asset or liability is classified as non-current asset or liability. The change in fair value deriving from the valuation of the Interest Rate Swap at the end of each reporting period is classified under “Loss on derivative financial instruments” in the statement of comprehensive loss. Realized gains or losses resulting from interest rate swaps are recognized in profit or loss under “Loss on derivative financial instruments” in the statement of comprehensive loss. Standards issued but not yet effective and not early adopted : · IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies (Amendments): The Amendments are effective for annual periods beginning on or after January 1, 2023 with earlier application permitted. The amendments provide guidance on the application of materiality judgements to accounting policy disclosures. In particular, the amendments to IAS 1 replace the requirement to disclose “significant” accounting policies with a requirement to disclose “material” accounting policies. Also, guidance and illustrative examples are added in the Practice Statement to assist in the application of the materiality concept when making judgements about accounting policy disclosures. Management is in process of assessing these amendments for possible impact on the Company’s disclosures. · IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates (Amendments): The amendments become effective for annual reporting periods beginning on or after January 1, 2023 with earlier application permitted and apply to changes in accounting policies and changes in accounting estimates that occur on or after the start of that period. The amendments introduce a new definition of accounting estimates, defined as monetary amounts in financial statements that are subject to measurement uncertainty. Also, the amendments clarify what changes in accounting estimates are and how these differ from changes in accounting policies and corrections of errors. Management is in process of assessing these amendments for possible impact on the Company’s financial position or performance. |
Cash and cash equivalents and R
Cash and cash equivalents and Restricted cash | 6 Months Ended |
Jun. 30, 2021 | |
Cash and cash equivalents [abstract] | |
Cash and cash equivalents and Restricted cash | 3. Cash and cash equivalents and Restricted cash For the purpose of the interim condensed consolidated statement of financial position, cash and cash equivalents comprise the following: Cash and cash equivalents and Restricted cash June 30, 2021 December 31, 2020 Cash on hand 36 13 Cash at banks 74,734 19,024 Total 74,770 19,037 Cash held in banks earns interest at floating rates based on daily bank deposit rates. Bank deposits are made for varying periods of between one day and three months, depending on the immediate cash requirements of the Company and earn interest at the respective bank deposit rates. As at June 30, 2021, in order to fulfil the collateral requirements contained in the loan agreement (Note 8), the Company has pledged an aggregate amount of $ 3,741 2,066 275 816 3,466 1,250 |
Transactions with Related Parti
Transactions with Related Parties | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of transactions between related parties [abstract] | |
Transactions with Related Parties | 4. Transactions with Related Parties Details of the Company’s transactions with related parties did not change in the six-month period ended June 30, 2021 and are discussed in Note 4 to the Company’s consolidated financial statements as of and for the year ended December 31, 2020, included in the 2020 Annual Report except for the transactions described below. On March 2, 2021, the Company entered into a stock purchase agreement and issued 10,000 0.001 130 As of June 30, 2021, Goldenmare Limited owns 10,300 |
Vessels, net
Vessels, net | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Vessels, net | 5. Vessels, net The amounts in the interim condensed consolidated statement of financial position are analysed as follows: Vessels, net - Consolidated statement of financial position Vessels cost Vessels depreciation Dry docking costs Depreciation of dry-docking costs Net Book Value Balance at January 1, 2021 162,992 (104,111) 11,883 (8,414) 62,350 Additions 26,431 — 1,904 — 28,335 Depreciation & Amortization — (1,418) — (1,115) (2,533) Balance at June 30, 2021 189,423 (105,529) 13,787 (9,529) 88,152 On February 18, 2021, the Company entered into a memorandum of agreement with an unrelated third party, for the acquisition of the m/v “Nord Venus”, a 2011 Kamsarmax 16.5 16.2 80,655 1,620 10 July 20, 2021 5. Vessels, net (continued) On March 19, 2021, the Company entered into a memorandum of agreement with an unrelated third party, for the acquisition of the m/v “Yangze 11”, a 2018 Kamsarmax 27 26.4 0.6 82,027 June 9, 2021 No 4,615 |
Share Capital and Share Premium
Share Capital and Share Premium | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of classes of share capital [abstract] | |
Share Capital and Share Premium | 6. Share Capital and Share Premium The authorised share capital of Globus consisted of the following: Share Capital and Share Premium - Authorised share capital June 30, December 31, 2021 2020 Authorised share capital: 500,000,000 0.004 2,000 2,000 100,000,000 0.001 100 100 100,000,000 0.001 100 100 Total authorised share capital 2,200 2,200 Holders of the Company’s common shares and Class B shares have equivalent economic rights, but holders of Company’s common shares are entitled to one vote per share and holders of the Company’s Class B shares are entitled to twenty votes per share. Each holder of Class B shares may convert, at its option, any or all of the Class B shares held by such holder into an equal number of common shares. Share Capital and Share Premium - Common shares issued and fully paid Common Shares issued and fully paid Number of shares Issued Share Capital As of January 1, 2021 3,040,123 12 Issued during the period for share based compensation (Note 9) 4,012 — Issuance of new common stocks 14,905,000 60 Issuance of common stock due to exercise of pre-funded warrants 2,075,000 8 As of June 30, 2021 20,024,135 80 Common Shares issued and fully paid Number of shares Issued Share Capital As of January 1, 2020 52,235 — Issued during the period for share based compensation (Note 9) 217 — Issuance of common stocks due conversion of loan (Note 8) 11,678 — Issuance of new common stocks 852,750 4 Issuance of common stock due to exercise of pre-funded warrants 5,550 — As of June 30, 2020 922,430 4 On March 2, 2021, the Company entered into a stock purchase agreement and issued 10,000 0.001 130 The issuance of the Series B preferred shares to Goldenmare Limited were approved by an independent committee of the Company’s Board of Directors. As of June 30, 2021, the Company had no 10,300 6. Share Capital and Share Premium (continued) Share premium includes the contribution of Globus’ shareholders for the acquisition of the Company’s vessels. Additionally, share premium includes the effects of the acquisition of non-controlling interest, the effects of the Globus initial and follow-on public offerings and the effects of the share-based payments described in Note 9. At June 30, 2021 and December 31, 2020, Globus share premium amounted to $ 284,383 195,102 On January 13, 2021, the remaining pre-funded warrants from the December 2020 Pre-Funded Warrants were exercised and 130,000 0.004 On January 27, 2021, the Company entered into a securities purchase agreement with certain unaffiliated institutional investors to issue (a) 2,155,000 0.004 445,000 0.004 1,950,000 0.004 6.25 15,108 120 445,000 5 The January 2021 Warrants are exercisable for a period of five and one-half years commencing on the date of issuance. The warrants will be exercisable, at the option of each holder, in whole or in part by delivering to the Company a duly executed exercise notice with payment in full in immediately available funds for the number of common shares purchased upon such exercise. If a registration statement registering the issuance of the common shares underlying the warrants under the Securities Act is not effective, the holder may, in its sole discretion, elect to exercise the warrant through a cashless exercise, in which case the holder would receive upon such exercise the net number of common shares determined according to the formula set forth in the warrant. If the Company does not issue the shares in a timely fashion, the warrant contains certain liquidated damages provisions. On February 12, 2021, the Company entered into a securities purchase agreement with certain unaffiliated institutional investors to issue (a) 3,850,000 0.004 950,000 0.004 4,800,000 0.004 6.25 27,891 152 950,000 10 The February 2021 Warrants are exercisable for a period of five and one-half years commencing on the date of issuance. The warrants will be exercisable, at the option of each holder, in whole or in part by delivering to the Company a duly executed exercise notice with payment in full in immediately available funds for the number of common shares purchased upon such exercise. If a registration statement registering the issuance of the common shares underlying the warrants under the Securities Act is not effective, the holder may, in its sole discretion, elect to exercise the warrant through a cashless exercise, in which case the holder would receive upon such exercise the net number of common shares determined according to the formula set forth in the warrant. If the Company does not issue the shares in a timely fashion, the warrant contains certain liquidated damages provisions. On June 25, 2021, the Company entered into a securities purchase agreement with certain unaffiliated institutional investors to issue (a) 8,900,000 0.004 1,100,000 0.004 10,000,000 0.004 5.00 46,581 129 550,000 5 550,000 The June 2021 Warrants are exercisable for a period of five and one-half years commencing on the date of issuance. The warrants will be exercisable, at the option of each holder, in whole or in part by delivering to the Company a duly executed exercise notice with payment in full in immediately available funds for the number of common shares purchased upon such exercise. If a registration statement registering the issuance of the common shares underlying the warrants under the Securities Act is not effective, the holder may, in its sole discretion, elect to exercise the warrant through a cashless exercise, in which case the holder would receive upon such exercise the net number of common shares determined according to the formula set forth in the warrant. If the Company does not issue the shares in a timely fashion, the warrant contains certain liquidated damages provisions. As of June 30, 2021, the Company had issued 5,550 388,700 388,700 6. Share Capital and Share Premium (continued) As of June 30, 2021, no PP Warrants as defined in the 2020 Annual Report had been exercised and the Company had 1,291,833 1,291,833 The Company’s warrants are classified in equity, following the Company’s assessment that warrants meet the equity classification criteria as per IAS 32. |
Loss per Share
Loss per Share | 6 Months Ended |
Jun. 30, 2021 | |
Earnings per share [abstract] | |
Loss per Share | 7. Loss per Share Basic earnings/(loss) per share (“EPS”/‘‘LPS’’) is calculated by dividing the net profit/(loss) for the period attributable to Globus shareholders by the weighted average number of shares issued, paid and outstanding. Diluted earnings/(loss) per share is calculated by dividing the net profit/(loss) attributable to common equity holders of the parent by the weighted average shares outstanding during the period plus the weighted average number of common shares that would be issued on the conversion of dilutive potential common shares into common shares. The incremental shares (the difference between the number of shares assumed issued and the number of shares assumed purchased) are included in the denominator of the diluted earnings/(loss) per share computation unless such inclusion would be anti-dilutive. As the Company reported losses for the periods ended June 30, 2021 and 2020, the effect of any incremental shares would be anti-diluted and thus excluded from the computation of the LPS The following reflects the loss and share data used in the basic and diluted loss per share computations: Loss per Share For the six-month period ended June 30, 2021 2020 Loss attributable to common equity holders (789) (13,199) Weighted average number of shares for basic and diluted LPS 9,001,704 83,354 |
Long-Term Debt, net
Long-Term Debt, net | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of detailed information about borrowings [abstract] | |
Long-Term Debt, net | 8. Long-Term Debt, net Long-term debt in the consolidated statement of financial position is analysed as follows: Long-Term Debt, net - Consolidated statement of financial position Borrower Loan Balance Unamortized Debt Discount Total Borrowings (a) Devocean Maritime LTD., Domina Maritime LTD., Dulac Maritime S.A., Artful Shipholding S.A., Longevity Maritime Limited & Serena Maritime Limited 34,250 (523) 33,727 Total at June 30, 2021 34,250 (523) 33,727 Less: Current Portion (5,000) 145 (4,855) Long-Term Portion 29,250 (378) 28,872 Total at December 31, 2020 37,000 (448) 36,552 Less: Current Portion (5,970) 305 (5,665) Long-Term Portion 31,030 (143) 30,887 Details of the Company’s credit facilities and debt securities are discussed in Note 11 of the Company’s consolidated financial statements for the year ended December 31, 2020, included in the 2020 Annual Report. As of June 30, 2021, the Company was in compliance with the loan covenants of the agreement with the lenders. 8. Long-Term Debt, net (continued) In more detail: (a) In May 2021, Globus through its wholly owned subsidiaries, Devocean Maritime Ltd.(the “Borrower A”), Domina Maritime Ltd. (the “Borrower B”), Dulac Maritime S.A. (the “Borrower C”), Artful Shipholding S.A. (the “Borrower D”), Longevity Maritime Limited (the “Borrower E”) and Serena Maritime Limited (the “Borrower F”), vessel owning companies of m/v River Globe, m/v Sky Globe, m/v Star Globe, m/v Moon Globe, m/v Sun Globe and m/v Galaxy Globe, respectively, entered a new term loan facility for up to $ 34,250 LIBOR 3.75 On May 10, 2021, the Company drew down $ 34,250 six Among the other financial covenants in CiT loan facility it is included the following covenant: At all times the Parent Guarantor (i.e., Globus) shall maintain, on a consolidated basis, cash in an amount of not less than $ 150 The Company was in compliance with the covenants of CiT loan facility as of June 30, 2021. (b) In June 2019, Globus through its wholly owned subsidiaries, Devocean Maritime Ltd.(the “Borrower A”), Domina Maritime Ltd. (the “Borrower B”), Dulac Maritime S.A. (the “Borrower C”), Artful Shipholding S.A. (the “Borrower D”) and Longevity Maritime Limited (the “Borrower E”), vessel owning companies of m/v River Globe, m/v Sky Globe, m/v Star Globe, m/v Moon Globe and m/v Sun Globe, respectively, entered a new term loan facility for up to $ 37,000 LIBOR 8.50 10.5 In March 2021, the Company prepaid $ 6 (c) On July 27, 2020, the Company repaid the total outstanding principal and interest of the Firment Shipping Credit Facility amounting to $ 863 As of June 30, 2021, and 2020, there was an amount of $ 14,200 October 31, 2021 The Firment Shipping Credit Facility requires that Athanasios Feidakis remains Chief Executive Officer and that Firment Shipping maintains at least a 40 As of June 30, 2021, and December 31, 2020, the Company is in compliance with the loan covenants of the Firment Shipping Credit Facility. (d) On March 13, 2019, the Company signed a securities purchase agreement with a private investor and on the same date issued, for gross proceeds of $ 5 0.004 8. Long-Term Debt, net (continued) The Convertible Note provided for interest to accrue at 10 As per the conversion clause included in the Convertible Note, the Company had recognized this agreement as a hybrid agreement which included an embedded derivative. This embedded derivative was separated to the derivative component and the non-derivative host. The derivative component was shown separately from the non-derivative host in the consolidated statement of financial position at fair value. The changes in the fair value of the derivative financial instrument were recognized in the consolidated statement of comprehensive loss. The initial amount drawn with respect to the Convertible Note was $ 5,000 1,783 3,217 On June 25, 2020, the Company repaid the total outstanding principal and interest of the Convertible Note amounting to $ 2,528 1,343 The contractual annual loan principal payments to CiT Bank N.A. facility to be made subsequent to June 30, 2021, were as follows: Long-Term Debt, net - Annual loan principal payments June 30, CiT Bank N.A. 2022 5,000 2023 5,000 2024 5,000 2025 5,000 2026 14,250 Total 34,250 |
Share Based Payment
Share Based Payment | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Share Based Payment | 9. Share Based Payment Share based payment comprise the following: Share Based Payment Period from January 1 to June 30, 2021 Number of common shares Number of preferred shares Issued share Capital Share premium Non-executive directors payment 4,012 — — 20 Total at June 30, 2021 4,012 — — 20 Period from January 1 to June 30, 2020 Number of common shares Number of preferred shares Issued share Capital Share premium Non-executive directors payment 217 — — 10 * Total at June 30, 2020 217 — — 10 * * The second quarter of 2020 share based payment was effected on July 9, 2020. A total of 130 shares were issued for the amount of $10. |
Contingencies
Contingencies | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of contingent liabilities [abstract] | |
Contingencies | 10. Contingencies Various claims, suits and complaints, including those involving government regulations, arise in the ordinary course of the shipping business. In addition, losses may arise from disputes with charterers, environmental claims, agents, and insurers and from claims with suppliers relating to the operations of the Company’s vessels. Currently, management is not aware of any such claims or contingent liabilities, which are material for disclosure. |
Commitments
Commitments | 6 Months Ended |
Jun. 30, 2021 | |
Commitments | |
Commitments | 11. Commitments The Company enters into time charter arrangements on its vessels. These non-cancellable arrangements had remaining terms between forty days to approximately three months as of June 30, 2021, assuming redelivery at the earliest possible date. As of December 31, 2020, the non-cancellable arrangements had remaining terms between nine days to eight months, assuming redelivery at the earliest possible date. Future net minimum lease revenues receivable under non-cancellable operating leases as of June 30, 2021 and December 31, 2020, were as follows (vessel off-hires and dry-docking days that could occur but are not currently known are not taken into consideration; in addition early delivery of the vessels by the charterers is not accounted for): Commitments - Future minimum lease revenues receivable under non-cancellable operating leases June 30, 2021 December 31, 2020 Within one year 8,323 3,078 Total 8,323 3,078 These amounts include consideration for other elements of the arrangement apart from the right to use the vessel such as maintenance and crewing and its related costs. For time charters that qualify as leases, the Company is required to disclose lease and non-lease components of lease revenue. The revenue earned under time charters is not negotiated in its two separate components, but as a whole. For purposes of determining the standalone selling price of the vessel lease and technical management service components of the Company’s time charters, the Company concluded that the residual approach would be the most appropriate method to use given that vessel lease rates are highly variable depending on shipping market conditions, the duration of such charters and the age of the vessel. The Company believes that the standalone transaction price attributable to the technical management service component, including crewing services, is more readily determinable than the price of the lease component and, accordingly, the price of the service component is estimated using data provided by its technical department, which consist of the crew expenses, maintenance and consumable costs and was approximately $ 6,208 4,246 5,788 343 As further discussed in note 4 of the 2020 Annual Report, on January 1, 2019, following the adoption of IFRS 16, the Company recognised a right of use asset and a corresponding liability of approximately $ 674 56 20 23 At June 30, 2021 and December 31, 2020, the current lease liabilities amounted to $ 161 195 309 367 The Company assumed a commitment amounting to $ 28.4 |
Fair values
Fair values | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of fair value measurement of assets [abstract] | |
Fair values | 12. Fair values Carrying amounts and fair values The following table shows the carrying amounts and fair values of assets and liabilities measured at fair value, including their levels in the fair value hierarchy (as defined in note 2.28 of the 2020 Annual Report). It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value, such as cash and cash equivalents, restricted cash, trade receivables, trade payables and claims receivables. Fair values - Fair value measurement Fair value June 30, 2021 Carrying amount Level 1 Level 2 Level 3 Total Other financial assets Financial assets measured at fair value Derivative financial instruments 111 — 111 — 111 111 Other financial liabilities Financial liabilities measured at fair value Derivative financial instruments 176 — 176 — 176 176 Financial liabilities not measured at fair value Long-term borrowings 34,250 — 34,430 — 34,430 34,250 Fair value December 31, 2020 Carrying amoun Level 1 Level 2 Level 3 Total Other financial liabilities Financial liabilities not measured at fair value Long-term borrowings 37,000 — 37,961 — 37,961 37,000 12. Fair values (continued) Measurement of fair values Valuation techniques and significant unobservable inputs The following tables show the valuation techniques used in measuring Level 1, Level 2 and Level 3 fair values, as well as the significant unobservable inputs used. Fair values - Valuation techniques and significant unobservable inputs Financial instruments measured at fair value Type Valuation Techniques Significant unobservable inputs Derivative financial instruments: Interest Rate Swap Discounted cash flow Discount rate Financial instruments not measured at fair value Asset and liabilities not measured at fair value Type Valuation Techniques Significant unobservable inputs Long-term borrowings Discounted cash flow Discount rate Transfers between Level 1, 2 and 3 There have been no transfers between Level 1, Level 2 and Level 3 during the period. |
Events after the reporting date
Events after the reporting date | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Events after the reporting date | 13. Events after the reporting date Consultancy Agreement On July 15, 2021, Globus Maritime Limited entered into a consultancy agreement with Eolos Shipmanagement S.A., a related party, for the purpose of providing consultancy services to Eolos Shipmanagement S.A. For these services the Company receives a daily fee of $ 1 Rental Agreement On August 5, 2021, the Company entered into a new rental agreement for 902 square metres of office space for its operations within a building owned by Cyberonica S.A. (an affiliate of Globus’s chairman) at a monthly rate of Euro 26,000 Acquisition of new vessels On July 20, 2021, the Company took delivery of the m/v “Power Globe”, a 2011 Kamsarmax 16.2 80,655 On September 22, 2021, the Company entered into a memorandum of agreement with an unrelated third party, for the acquisition of the m/v “Peak Liberty”, a 2015 Kamsarmax 28.4 81,837 4th quarter of 2021 |
Significant Accounting Polici_2
Significant Accounting Policies and recent accounting pronouncements (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of initial application of standards or interpretations [abstract] | |
Interest Rate Benchmark Reform | Interest Rate Benchmark Reform · Interest Rate Benchmark Reform – Phase 2 – IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 (Amendments) In August 2020, the IASB published Interest Rate Benchmark Reform – Phase 2, Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, completing its work in response to IBOR reform. The amendments provide temporary reliefs which address the financial reporting effects when an interbank offered rate (IBOR) is replaced with an alternative nearly risk-free interest rate (RFR). In particular, the amendments provide for a practical expedient when accounting for changes in the basis for determining the contractual cash flows of financial assets and liabilities, to require the effective interest rate to be adjusted, equivalent to a movement in a market rate of interest. Also, the amendments introduce reliefs from discontinuing hedge relationships including a temporary relief from having to meet the separately identifiable requirement when an RFR instrument is designated as a hedge of a risk component. There are also amendments to IFRS 7 Financial Instruments: Disclosures to enable users of financial statements to understand the effect of interest rate benchmark reform on an entity’s financial instruments and risk management strategy. While application is retrospective, an entity is not required to restate prior periods. Management has assessed that these amendments had no impact on the Company’s financial position or performance. |
Advances for vessels acquisition | Advances for vessels acquisition : |
Interest Rate Swap | Interest Rate Swap : The fair value of the Interest Rate Swaps is classified under “Fair value of derivative financial instruments” either under assets or liabilities in the statement of financial position. In the event that the respective asset or liability is expected to be materialized within the next twelve months, is classified as current asset or liability. Otherwise, the respective asset or liability is classified as non-current asset or liability. The change in fair value deriving from the valuation of the Interest Rate Swap at the end of each reporting period is classified under “Loss on derivative financial instruments” in the statement of comprehensive loss. Realized gains or losses resulting from interest rate swaps are recognized in profit or loss under “Loss on derivative financial instruments” in the statement of comprehensive loss. |
Standards issued but not yet effective and not early adopted | Standards issued but not yet effective and not early adopted : · IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies (Amendments): The Amendments are effective for annual periods beginning on or after January 1, 2023 with earlier application permitted. The amendments provide guidance on the application of materiality judgements to accounting policy disclosures. In particular, the amendments to IAS 1 replace the requirement to disclose “significant” accounting policies with a requirement to disclose “material” accounting policies. Also, guidance and illustrative examples are added in the Practice Statement to assist in the application of the materiality concept when making judgements about accounting policy disclosures. Management is in process of assessing these amendments for possible impact on the Company’s disclosures. · IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates (Amendments): The amendments become effective for annual reporting periods beginning on or after January 1, 2023 with earlier application permitted and apply to changes in accounting policies and changes in accounting estimates that occur on or after the start of that period. The amendments introduce a new definition of accounting estimates, defined as monetary amounts in financial statements that are subject to measurement uncertainty. Also, the amendments clarify what changes in accounting estimates are and how these differ from changes in accounting policies and corrections of errors. Management is in process of assessing these amendments for possible impact on the Company’s financial position or performance. |
Basis of presentation and gen_2
Basis of presentation and general information (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of subsidiaries [abstract] | |
Basis of presentation and general information | Basis of presentation and general information Company Country of Incorporation Vessel Delivery Date Vessel Owned Globus Shipmanagement Corp. Marshall Islands — Management Co. Devocean Maritime Ltd. Marshall Islands December 18, 2007 m/v River Globe Domina Maritime Ltd. Marshall Islands May 19, 2010 m/v Sky Globe Dulac Maritime S.A. Marshall Islands May 25, 2010 m/v Star Globe Artful Shipholding S.A. Marshall Islands June 22, 2011 m/v Moon Globe Longevity Maritime Limited Malta September 15, 2011 m/v Sun Globe Serena Maritime Limited Marshall Islands October 29, 2020 m/v Galaxy Globe Talisman Maritime Limited (1) Marshall Islands — — Argo Maritime Limited Marshall Islands June 9, 2021 m/v Diamond Globe Calypso Shipholding S.A. Marshall Islands — — Daxos Maritime Limited Marshall Islands — — Olympia Shipholding S.A. Marshall Islands — — Paralus Shipholding S.A. Marshall Islands — — Salaminia Maritime Limited Marshall Islands — — (1) On July 20, 2021, the Company took delivery of the m/v “Power Globe”, a 2011-built Kamsarmax dry bulk carrier, through its subsidiary, Talisman Maritime Limited. |
Cash and cash equivalents and_2
Cash and cash equivalents and Restricted cash (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Cash and cash equivalents [abstract] | |
Cash and cash equivalents and Restricted cash | Cash and cash equivalents and Restricted cash June 30, 2021 December 31, 2020 Cash on hand 36 13 Cash at banks 74,734 19,024 Total 74,770 19,037 |
Vessels, net (Tables)
Vessels, net (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Vessels, net - Consolidated statement of financial position | Vessels, net - Consolidated statement of financial position Vessels cost Vessels depreciation Dry docking costs Depreciation of dry-docking costs Net Book Value Balance at January 1, 2021 162,992 (104,111) 11,883 (8,414) 62,350 Additions 26,431 — 1,904 — 28,335 Depreciation & Amortization — (1,418) — (1,115) (2,533) Balance at June 30, 2021 189,423 (105,529) 13,787 (9,529) 88,152 |
Share Capital and Share Premi_2
Share Capital and Share Premium (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of classes of share capital [abstract] | |
Share Capital and Share Premium - Authorised share capital | Share Capital and Share Premium - Authorised share capital June 30, December 31, 2021 2020 Authorised share capital: 500,000,000 0.004 2,000 2,000 100,000,000 0.001 100 100 100,000,000 0.001 100 100 Total authorised share capital 2,200 2,200 |
Share Capital and Share Premium - Common shares issued and fully paid | Share Capital and Share Premium - Common shares issued and fully paid Common Shares issued and fully paid Number of shares Issued Share Capital As of January 1, 2021 3,040,123 12 Issued during the period for share based compensation (Note 9) 4,012 — Issuance of new common stocks 14,905,000 60 Issuance of common stock due to exercise of pre-funded warrants 2,075,000 8 As of June 30, 2021 20,024,135 80 Common Shares issued and fully paid Number of shares Issued Share Capital As of January 1, 2020 52,235 — Issued during the period for share based compensation (Note 9) 217 — Issuance of common stocks due conversion of loan (Note 8) 11,678 — Issuance of new common stocks 852,750 4 Issuance of common stock due to exercise of pre-funded warrants 5,550 — As of June 30, 2020 922,430 4 |
Loss per Share (Tables)
Loss per Share (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Earnings per share [abstract] | |
Loss per Share | Loss per Share For the six-month period ended June 30, 2021 2020 Loss attributable to common equity holders (789) (13,199) Weighted average number of shares for basic and diluted LPS 9,001,704 83,354 |
Long-Term Debt, net (Tables)
Long-Term Debt, net (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of detailed information about borrowings [abstract] | |
Long-Term Debt, net - Consolidated statement of financial position | Long-Term Debt, net - Consolidated statement of financial position Borrower Loan Balance Unamortized Debt Discount Total Borrowings (a) Devocean Maritime LTD., Domina Maritime LTD., Dulac Maritime S.A., Artful Shipholding S.A., Longevity Maritime Limited & Serena Maritime Limited 34,250 (523) 33,727 Total at June 30, 2021 34,250 (523) 33,727 Less: Current Portion (5,000) 145 (4,855) Long-Term Portion 29,250 (378) 28,872 Total at December 31, 2020 37,000 (448) 36,552 Less: Current Portion (5,970) 305 (5,665) Long-Term Portion 31,030 (143) 30,887 |
Long-Term Debt, net - Annual loan principal payments | Long-Term Debt, net - Annual loan principal payments June 30, CiT Bank N.A. 2022 5,000 2023 5,000 2024 5,000 2025 5,000 2026 14,250 Total 34,250 |
Share Based Payment (Tables)
Share Based Payment (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Share Based Payment | Share Based Payment Period from January 1 to June 30, 2021 Number of common shares Number of preferred shares Issued share Capital Share premium Non-executive directors payment 4,012 — — 20 Total at June 30, 2021 4,012 — — 20 Period from January 1 to June 30, 2020 Number of common shares Number of preferred shares Issued share Capital Share premium Non-executive directors payment 217 — — 10 * Total at June 30, 2020 217 — — 10 * * The second quarter of 2020 share based payment was effected on July 9, 2020. A total of 130 shares were issued for the amount of $10. |
Commitments (Tables)
Commitments (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Commitments | |
Commitments - Future minimum lease revenues receivable under non-cancellable operating leases | Commitments - Future minimum lease revenues receivable under non-cancellable operating leases June 30, 2021 December 31, 2020 Within one year 8,323 3,078 Total 8,323 3,078 |
Fair values (Tables)
Fair values (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of fair value measurement of assets [abstract] | |
Fair values - Fair value measurement | Fair values - Fair value measurement Fair value June 30, 2021 Carrying amount Level 1 Level 2 Level 3 Total Other financial assets Financial assets measured at fair value Derivative financial instruments 111 — 111 — 111 111 Other financial liabilities Financial liabilities measured at fair value Derivative financial instruments 176 — 176 — 176 176 Financial liabilities not measured at fair value Long-term borrowings 34,250 — 34,430 — 34,430 34,250 Fair value December 31, 2020 Carrying amoun Level 1 Level 2 Level 3 Total Other financial liabilities Financial liabilities not measured at fair value Long-term borrowings 37,000 — 37,961 — 37,961 37,000 |
Fair values - Valuation techniques and significant unobservable inputs | Fair values - Valuation techniques and significant unobservable inputs Financial instruments measured at fair value Type Valuation Techniques Significant unobservable inputs Derivative financial instruments: Interest Rate Swap Discounted cash flow Discount rate Financial instruments not measured at fair value Asset and liabilities not measured at fair value Type Valuation Techniques Significant unobservable inputs Long-term borrowings Discounted cash flow Discount rate |
Basis of presentation and gen_3
Basis of presentation and general information (Details) | 6 Months Ended | |
Jun. 30, 2021 | ||
Globus Shipmanagement Corp. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation of subsidiary | Marshall Islands | |
Vessel Delivery Date | ||
Name of subsidiary | Management Co. | |
Devocean Maritime Ltd. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation of subsidiary | Marshall Islands | |
Vessel Delivery Date | December 18, 2007 | |
Name of subsidiary | m/v River Globe | |
Domina Maritime Ltd. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation of subsidiary | Marshall Islands | |
Vessel Delivery Date | May 19, 2010 | |
Name of subsidiary | m/v Sky Globe | |
Dulac Maritime S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation of subsidiary | Marshall Islands | |
Vessel Delivery Date | May 25, 2010 | |
Name of subsidiary | m/v Star Globe | |
Artful Shipholding S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation of subsidiary | Marshall Islands | |
Vessel Delivery Date | June 22, 2011 | |
Name of subsidiary | m/v Moon Globe | |
Longevity Maritime Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation of subsidiary | Malta | |
Vessel Delivery Date | September 15, 2011 | |
Name of subsidiary | m/v Sun Globe | |
Serena Maritime Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation of subsidiary | Marshall Islands | |
Vessel Delivery Date | October 29, 2020 | |
Name of subsidiary | m/v Galaxy Globe | |
Talisman Maritime Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation of subsidiary | Marshall Islands | [1] |
Vessel Delivery Date | [1] | |
Name of subsidiary | [1] | |
Argo Maritime Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation of subsidiary | Marshall Islands | |
Vessel Delivery Date | June 9, 2021 | |
Name of subsidiary | m/v Diamond Globe | |
Calypso Shipholding S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation of subsidiary | Marshall Islands | |
Vessel Delivery Date | ||
Name of subsidiary | ||
Daxos Maritime Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation of subsidiary | Marshall Islands | |
Vessel Delivery Date | ||
Name of subsidiary | ||
Olympia Shipholding S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation of subsidiary | Marshall Islands | |
Vessel Delivery Date | ||
Name of subsidiary | ||
Paralus Shipholding S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation of subsidiary | Marshall Islands | |
Vessel Delivery Date | ||
Name of subsidiary | ||
Salaminia Maritime Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation of subsidiary | Marshall Islands | |
Vessel Delivery Date | ||
Name of subsidiary | ||
[1] | On July 20, 2021, the Company took delivery of the m/v “Power Globe”, a 2011-built Kamsarmax dry bulk carrier, through its subsidiary, Talisman Maritime Limited. |
Basis of presentation and gen_4
Basis of presentation and general information (Details Narrative) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Dec. 31, 2020 | |
Disclosure of subsidiaries [abstract] | ||
Domicile of entity | Marshall Islands | |
Description of nature of entity's operations and principal activities | The principal business of the Company is the ownership and operation of a fleet of dry bulk motor vessels (“m/v”), providing maritime services for the transportation of dry cargo products on a worldwide basis. | |
Description of compliance with IFRS financial report | IAS 34 | |
Working capital surplus | $ 66,000,000 | $ 9,200,000 |
Cash and cash equivalents and_3
Cash and cash equivalents and Restricted cash (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Cash and cash equivalents [abstract] | ||||
Cash on hand | $ 36 | $ 13 | ||
Cash at banks | 74,734 | 19,024 | ||
Total | $ 74,770 | $ 19,037 | $ 18,227 | $ 2,366 |
Cash and cash equivalents and_4
Cash and cash equivalents and Restricted cash (Details Narrative) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Cash and cash equivalents [abstract] | ||
Restricted cash and cash equivalents | $ 3,741 | $ 2,066 |
Current restricted cash and cash equivalents | 275 | 816 |
Non-current restricted cash and cash equivalents | $ 3,466 | $ 1,250 |
Transactions with Related Par_2
Transactions with Related Parties (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands | 2 Months Ended | 6 Months Ended | |
Mar. 02, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | |
Disclosure of transactions between related parties [line items] | |||
Voting Rights | Holders of the Company’s common shares and Class B shares have equivalent economic rights, but holders of Company’s common shares are entitled to one vote per share and holders of the Company’s Class B shares are entitled to twenty votes per share. Each holder of Class B shares may convert, at its option, any or all of the Class B shares held by such holder into an equal number of common shares. | ||
Preference shares [member] | |||
Disclosure of transactions between related parties [line items] | |||
Par value per share | $ 0.001 | $ 0.001 | |
Preference shares [member] | Goldenmare Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Increase (decrease) in number of shares outstanding | 10,000 | ||
Par value per share | $ 0.001 | ||
Issuance of Class B preferred shares | $ 130 | ||
Voting Rights | As of June 30, 2021, Goldenmare Limited owns 10,300 of the Company’s Series B preferred shares. Each Series B preferred share has 25,000 votes, provided that no holder of Series B preferred shares may exercise voting rights pursuant to Series B preferred shares that would result in the aggregate voting power of the beneficial owner of any such holder of Series B preferred shares, together with its affiliates, exceeding 49.99% of the total number of votes eligible to be cast on any matter submitted to a vote of shareholders. | ||
Number of shares in entity held by entity or by its subsidiaries or associates | 10,300 |
Vessels, net - Consolidated sta
Vessels, net - Consolidated statement of financial position (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2021USD ($) | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Balance | $ 62,350 |
Balance | 88,152 |
Carrying Amount [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Balance | 62,350 |
Additions | 28,335 |
Depreciation & Amortization | (2,533) |
Balance | 88,152 |
Ships [member] | Gross carrying amount [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Balance | 162,992 |
Additions | 26,431 |
Balance | 189,423 |
Ships [member] | Accumulated depreciation, amortisation and impairment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Balance | (104,111) |
Depreciation & Amortization | (1,418) |
Balance | (105,529) |
Dry Docking [member] | Gross carrying amount [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Balance | 11,883 |
Additions | 1,904 |
Balance | 13,787 |
Dry Docking [member] | Accumulated depreciation, amortisation and impairment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Balance | (8,414) |
Depreciation & Amortization | (1,115) |
Balance | $ (9,529) |
Vessels, net (Details Narrative
Vessels, net (Details Narrative) | 2 Months Ended | 3 Months Ended | 6 Months Ended | |
Feb. 18, 2021USD ($) | Mar. 19, 2021USD ($) | Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Purchase price | $ 27,000,000 | $ 0 | ||
Cash advances and loans made to other parties, classified as investing activities | 1,631,000 | 0 | ||
Impairment loss | 0 | $ 4,615,000 | ||
Nord Venus [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Vessel year built | 2011 | |||
Vessel type | Kamsarmax | |||
Vessel Capacity | 80,655 | |||
Cash advances and loans made to other parties, classified as investing activities | $ 1,620,000 | |||
Percentatge of purchase price | 10.00% | |||
Vessel Delivery Date | July 20, 2021 | |||
Nord Venus [member] | Delivery date up to May 31, 2021 [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Purchase price | $ 16,500,000 | |||
Nord Venus [member] | Delivery date between June 1, 2021 and August 15, 2021 [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Purchase price | $ 16,200,000 | |||
Yangze 11 [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Vessel year built | 2018 | |||
Vessel type | Kamsarmax | |||
Purchase price | $ 27,000,000 | |||
Vessel Capacity | 82,027 | |||
Vessel Delivery Date | June 9, 2021 | |||
Vessel cost | $ 26,400,000 | |||
Dry-docking cost | $ 600,000 |
Share Capital and Share Premi_3
Share Capital and Share Premium - Authorised share capital (Details) - USD ($) $ / shares in Units, $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Disclosure of classes of share capital [line items] | ||
Value of shares authorised | $ 2,200 | $ 2,200 |
Ordinary shares [member] | ||
Disclosure of classes of share capital [line items] | ||
Number of shares authorised | 500,000,000 | 500,000,000 |
Par value per share | $ 0.004 | $ 0.004 |
Value of shares authorised | $ 2,000 | $ 2,000 |
Class B Common Shares [member] | ||
Disclosure of classes of share capital [line items] | ||
Number of shares authorised | 100,000,000 | 100,000,000 |
Par value per share | $ 0.001 | $ 0.001 |
Value of shares authorised | $ 100 | $ 100 |
Preference shares [member] | ||
Disclosure of classes of share capital [line items] | ||
Number of shares authorised | 100,000,000 | 100,000,000 |
Par value per share | $ 0.001 | $ 0.001 |
Value of shares authorised | $ 100 | $ 100 |
Share Capital and Share Premi_4
Share Capital and Share Premium - Common shares issued and fully paid (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Balance | $ 12 | |
Balance | $ 80 | |
Ordinary shares [member] | ||
Balance | 3,040,123 | 52,235 |
Issued during the period for share based compensation (Note 9) | 4,012 | 217 |
Issuance of common stocks due conversion of loan (Note 8) | 11,678 | |
Issuance of new common stocks | 14,905,000 | 852,750 |
Issuance of common stock due to exercise of pre-funded warrants | 2,075,000 | 5,550 |
Balance | 20,024,135 | 922,430 |
Issued capital [member] | ||
Balance | $ 12 | $ 0 |
Issuance of new common stocks | 60 | 4 |
Issuance of common stock due to exercise of pre-funded warrants | 8 | 0 |
Balance | $ 80 | $ 4 |
Share Capital and Share Premi_5
Share Capital and Share Premium (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands | Jan. 13, 2021 | Feb. 12, 2021 | Jan. 27, 2021 | Mar. 02, 2021 | Jun. 25, 2021 | Jun. 30, 2021 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 |
Disclosure of classes of share capital [line items] | |||||||||
Voting Rights | Holders of the Company’s common shares and Class B shares have equivalent economic rights, but holders of Company’s common shares are entitled to one vote per share and holders of the Company’s Class B shares are entitled to twenty votes per share. Each holder of Class B shares may convert, at its option, any or all of the Class B shares held by such holder into an equal number of common shares. | ||||||||
Share premium | $ 284,383 | $ 284,383 | $ 195,102 | ||||||
Proceeds from issuing shares | $ 89,580 | $ 24,207 | |||||||
Pre-funded warrants [member] | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Par value per share | $ / shares | $ 0.004 | ||||||||
Issuance of common stock due to exercise of warrants | 130,000 | ||||||||
Class A Warrants [member] | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Issuance of common stock due to exercise of warrants | 5,550 | ||||||||
Number of shares called by warrants | 388,700 | 388,700 | |||||||
Number of outstanding warrants | 388,700 | 388,700 | |||||||
PP Warrants [member] | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Number of shares called by warrants | 1,291,833 | 1,291,833 | |||||||
Number of outstanding warrants | 1,291,833 | 1,291,833 | |||||||
Institutional investors [member] | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Increase (decrease) in number of shares outstanding | 3,850,000 | 2,155,000 | 8,900,000 | ||||||
Par value per share | $ / shares | $ 0.004 | $ 0.004 | $ 0.004 | ||||||
Proceeds from issuing shares | $ 27,891 | $ 15,108 | $ 46,581 | ||||||
Share issue related cost | $ 152 | $ 120 | $ 129 | ||||||
Institutional investors [member] | Pre-funded warrants [member] | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Par value per share | $ / shares | $ 0.004 | $ 0.004 | $ 0.004 | ||||||
Number of shares called by warrants | 950,000 | 445,000 | 1,100,000 | 550,000 | 550,000 | ||||
Proceeds from issuing shares | $ 10 | $ 5 | $ 5 | ||||||
Institutional investors [member] | Pre-funded warrants [member] | Subsequent pre-funded warrants [member] | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Number of shares called by warrants | 550,000 | 550,000 | |||||||
Institutional investors [member] | January 2021 Warrants [member] | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Par value per share | $ / shares | $ 0.004 | ||||||||
Number of shares called by warrants | 1,950,000 | ||||||||
Exercise price of outstanding share options | $ 6.25 | ||||||||
Institutional investors [member] | February 2021 Warrants [member] | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Par value per share | $ / shares | $ 0.004 | ||||||||
Number of shares called by warrants | 4,800,000 | ||||||||
Exercise price of outstanding share options | $ 6.25 | ||||||||
Institutional investors [member] | June 2021 Warrants [member] | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Par value per share | $ / shares | $ 0.004 | ||||||||
Number of shares called by warrants | 10,000,000 | ||||||||
Exercise price of outstanding share options | $ 5 | ||||||||
Preference shares [member] | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Par value per share | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | ||||||
Number of shares outstanding | 10,300 | 10,300 | |||||||
Preference shares [member] | Goldenmare Limited [member] | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Voting Rights | As of June 30, 2021, Goldenmare Limited owns 10,300 of the Company’s Series B preferred shares. Each Series B preferred share has 25,000 votes, provided that no holder of Series B preferred shares may exercise voting rights pursuant to Series B preferred shares that would result in the aggregate voting power of the beneficial owner of any such holder of Series B preferred shares, together with its affiliates, exceeding 49.99% of the total number of votes eligible to be cast on any matter submitted to a vote of shareholders. | ||||||||
Increase (decrease) in number of shares outstanding | 10,000 | ||||||||
Par value per share | $ / shares | $ 0.001 | ||||||||
Issuance of preferred shares | $ 130 | ||||||||
Class B Common Shares [member] | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Par value per share | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | ||||||
Number of shares outstanding | 0 | 0 |
Loss per Share (Details)
Loss per Share (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Earnings per share [abstract] | ||
Loss attributable to common equity holders | $ (789) | $ (13,199) |
Weighted average number of shares for basic and diluted LPS | 9,001,704 | 83,354 |
Long-Term Debt, net - Consolida
Long-Term Debt, net - Consolidated statement of financial position (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about borrowings [line items] | ||
Loan Balance | $ 34,250 | $ 37,000 |
Unamortized Debt Discount | (523) | (448) |
Total Borrowings | 33,727 | 36,552 |
Loan Balance - Current Portion | (5,000) | (5,970) |
Unamortized Debt Discount- Current Portion | 145 | 305 |
Total Borrowings - Current Portion | (4,855) | (5,665) |
Loan Balance - Long-Term Portion | 29,250 | 31,030 |
Unamortized Debt Discount - Long-Term Portion | (378) | (143) |
Total Borrowings - Long-Term Portion | 28,872 | $ 30,887 |
Devocean Maritime LTD., Domina Maritime LTD., Dulac Maritime S.A., Artful Shipholding S.A., Longevity Maritime Limited & Serena Maritime Limited [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loan Balance | 34,250 | |
Unamortized Debt Discount | (523) | |
Total Borrowings | $ 33,727 |
Long-Term Debt, net - Annual lo
Long-Term Debt, net - Annual loan principal payments (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about borrowings [line items] | ||
Loan Balance | $ 34,250 | $ 37,000 |
CiT Bank N.A. loan facility [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loan Balance | 34,250 | |
Later than one year and not later than two years [member] | CiT Bank N.A. loan facility [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loan Balance | 5,000 | |
Later than two year and not later than three years [member] | CiT Bank N.A. loan facility [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loan Balance | 5,000 | |
Later than three year and not later than four years [member] | CiT Bank N.A. loan facility [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loan Balance | 5,000 | |
Later than four year and not later than five years [member] | CiT Bank N.A. loan facility [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loan Balance | 5,000 | |
Later than five year and not later than six years [member] | CiT Bank N.A. loan facility [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loan Balance | $ 14,250 |
Long-Term Debt, net (Details Na
Long-Term Debt, net (Details Narrative) - USD ($) | 2 Months Ended | 3 Months Ended | 4 Months Ended | 5 Months Ended | 6 Months Ended | 7 Months Ended | |||||
Mar. 13, 2019 | Mar. 31, 2021 | May 10, 2021 | May 31, 2021 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 25, 2020 | Jun. 30, 2019 | Jul. 27, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about borrowings [line items] | |||||||||||
Prepayment of long-term debt | $ 35,507,000 | $ 2,240,000 | |||||||||
Cash and cash equivalents | 74,770,000 | 18,227,000 | $ 19,037,000 | $ 2,366,000 | |||||||
Proceeds from borrowings | 34,250,000 | 0 | |||||||||
Long -term borrowings | 34,250,000 | $ 37,000,000 | |||||||||
Gains (losses) on change in fair value of derivatives | $ 65,000 | 1,868,000 | |||||||||
Firment Shipping Inc [member] | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Repayments of current borrowings | $ 863,000 | ||||||||||
Bottom of range [member] | Firment Shipping Inc [member] | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Percentage of ownership in Globus Maritime Ltd. | 40.00% | ||||||||||
CiT loan facility [member] | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Notional amount | $ 34,250,000 | ||||||||||
Borrowings, interest rate basis | LIBOR | ||||||||||
Borrowings, adjustment to interest rate basis | 3.75% | ||||||||||
Number of loan tranches | 6 | ||||||||||
CiT loan facility [member] | Bottom of range [member] | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Cash and cash equivalents | $ 150,000 | ||||||||||
EnTrust loan facility [member] | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Notional amount | $ 37,000,000 | ||||||||||
Borrowings, interest rate basis | LIBOR | ||||||||||
Borrowings, adjustment to interest rate basis | 8.50% | ||||||||||
Prepayment of long-term debt | $ 6,000,000 | $ 34,250,000 | |||||||||
Borrowings Default Interest Rate | 10.50% | ||||||||||
Amended And Restated Agreement [Member] | Firment Shipping Inc [member] | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Undrawn borrowing facilities | $ 14,200,000 | $ 14,200,000 | |||||||||
Borrowings, maturity | October 31, 2021 | ||||||||||
Convertible Note [member] | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Notes issued | $ 5,000,000 | ||||||||||
Debt Instrument Convertible Conversion Price | $ 0.004 | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||||||||||
Proceeds from borrowings | $ 5,000,000 | ||||||||||
Long -term borrowings | 1,783,000 | ||||||||||
Non-current derivative financial liabilities | $ 3,217,000 | ||||||||||
Repayments of bonds, notes and debentures | $ 2,528,000 | ||||||||||
Gains (losses) on change in fair value of derivatives | $ 1,343,000 |
Share Based Payment (Details)
Share Based Payment (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | ||
Share premium [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Increase (decrease) through share-based payment transactions, equity | $ 20 | $ 10 | [1] |
Non Executive Directors [member] | Share premium [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Increase (decrease) through share-based payment transactions, equity | $ 20 | $ 10 | [1] |
Number of Ordinary Shares [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Increase (decrease) in number of ordinary shares issued | 4,012 | 217 | |
Number of Ordinary Shares [member] | Non Executive Directors [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Increase (decrease) in number of ordinary shares issued | 4,012 | 217 | |
[1] | The second quarter of 2020 share based payment was effected on July 9, 2020. A total of 130 shares were issued for the amount of $10. |
Commitments - Future minimum le
Commitments - Future minimum lease revenues receivable under non-cancellable operating leases (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems [Line Items] | ||
Total | $ 8,323 | $ 3,078 |
Not later than one year [member] | ||
DisclosureOfFinanceLeaseAndOperatingLeaseByLessorLineItems [Line Items] | ||
Total | $ 8,323 | $ 3,078 |
Commitments (Details Narrative)
Commitments (Details Narrative) - USD ($) | 6 Months Ended | 9 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Sep. 22, 2021 | Dec. 31, 2020 | Dec. 31, 2018 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Revenue from rendering of services | $ 11,996,000 | $ 4,589,000 | |||
Right-of-use assets | 393,000 | $ 450,000 | $ 674,000 | ||
Lease liabilities | $ 674,000 | ||||
Depreciation, right-of-use assets | 56,000 | 56,000 | |||
Interest expense on lease liabilities | 20,000 | 23,000 | |||
Current lease liabilities | 161,000 | 195,000 | |||
Non-current lease liabilities | 309,000 | $ 367,000 | |||
Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities | 27,000,000 | 0 | |||
Peak Liberty [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities | $ 28,400,000 | ||||
Property, plant and equipment subject to operating leases [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Revenue from rendering of services | 6,208,000 | 4,246,000 | |||
Operating lease income | $ 5,788,000 | $ 343,000 |
Fair values - Fair value measur
Fair values - Fair value measurement (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Disclosure of fair value measurement of assets [line items] | ||
Non-current derivative financial assets | $ 111 | $ 0 |
Long -term borrowings | 34,250 | 37,000 |
Financial assets at fair value, class [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Non-current derivative financial assets | 111 | |
Financial liabilities at fair value, class [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Non-current derivative financial liabilities | 176 | |
Financial liabilities, at fair value | 176 | |
At fair value [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long -term borrowings | 34,430 | 37,961 |
At fair value [member] | Financial assets at fair value, class [member] | Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Non-current derivative financial assets | 111 | |
At fair value [member] | Financial liabilities at fair value, class [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Non-current derivative financial liabilities | 176 | |
At fair value [member] | Financial liabilities at fair value, class [member] | Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Non-current derivative financial liabilities | 176 | |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long -term borrowings | 34,250 | 37,000 |
Financial liabilities | 34,250 | 37,000 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long -term borrowings | 34,430 | $ 37,961 |
Financial assets at fair value, class [member] | At fair value [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Non-current derivative financial assets | $ 111 |
Events after the reporting da_2
Events after the reporting date (Details Narrative) | 6 Months Ended | 7 Months Ended | 9 Months Ended | |||
Jul. 15, 2021USD ($) | Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | Aug. 05, 2021EUR (€) | Jul. 20, 2021USD ($) | Sep. 22, 2021USD ($) | |
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Purchase price | $ 27,000,000 | $ 0 | ||||
Power Globe [member] | ||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Vessel year built | 2011 | |||||
Vessel type | Kamsarmax | |||||
Purchase price | $ 16,200,000 | |||||
Vessel Capacity | 80,655 | |||||
Peak Liberty [member] | ||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Vessel year built | 2015 | |||||
Vessel type | Kamsarmax | |||||
Purchase price | $ 28,400,000 | |||||
Vessel Capacity | 81,837 | |||||
Expected delivery date | 4th quarter of 2021 | |||||
Eolos Shipmanagement S.A. [member] | ||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Daily fee of consultancy | $ 1 | |||||
New Rental Agreement with Cyberonica S.A. [member] | New office building [member] | ||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Monthly Rental Expense | € | € 26,000 |