Cover
Cover | 6 Months Ended |
Jun. 30, 2023 | |
Cover [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2023 |
Document Fiscal Period Focus | Q2 |
Document Fiscal Year Focus | 2023 |
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, Address Line Two | 3rd Floor |
Entity Address, Address Line Three | Glyfada |
Entity Address, City or Town | Attica |
Entity Address, Country | GR |
Entity Address, Postal Zip Code | 166 74 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income/(Loss) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
REVENUES: | ||||
Voyage revenues | $ 7,744 | $ 19,051 | $ 16,233 | $ 37,402 |
Management & consulting fee income | 91 | 91 | 181 | 181 |
Total Revenues | 7,835 | 19,142 | 16,414 | 37,583 |
EXPENSES & OTHER OPERATING INCOME: | ||||
Voyage expenses, net | (1,581) | (526) | (3,195) | (875) |
Gain on sale of bunkers, net | 0 | 179 | 0 | 1,328 |
Vessel operating expenses | (4,334) | (4,137) | (8,853) | (8,492) |
Depreciation | (1,218) | (1,422) | (2,493) | (2,826) |
Depreciation of dry-docking costs | (1,111) | (1,102) | (2,274) | (2,053) |
Administrative expenses | (819) | (713) | (1,763) | (1,429) |
Administrative expenses payable to related parties | (179) | (353) | (349) | (712) |
Reversal of impairment | 0 | 0 | 4,400 | 0 |
Gain from sale of vessel | 71 | 0 | 71 | 0 |
Other expenses, net | (15) | (11) | (6) | (1) |
Operating (loss)/ income | (1,351) | 11,057 | 1,952 | 22,523 |
Interest income | 474 | 3 | 922 | 8 |
Interest expense and finance costs | (960) | (426) | (1,880) | (815) |
Gain on derivative financial instruments, net | 693 | 303 | 482 | 1,270 |
Foreign exchange (losses) /gains, net | (17) | 78 | (51) | 112 |
NET INCOME/(LOSS) FOR THE PERIOD | (1,161) | 11,015 | 1,425 | 23,098 |
Other Comprehensive Income | 0 | 0 | 0 | 0 |
NET COMPREHENSIVE INCOME/(LOSS) FOR THE PERIOD | $ (1,161) | $ 11,015 | $ 1,425 | $ 23,098 |
Income/(Loss) per share (U.S.$): | ||||
-Basic income per share for the period | $ (0.06) | $ 0.53 | $ 0.07 | $ 1.12 |
-Diluted income per share for the period | $ (0.06) | $ 0.53 | $ 0.07 | $ 1.12 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
NON-CURRENT ASSETS | ||
Vessels, net | $ 120,661 | $ 129,461 |
Advances for vessel purchase | 31,918 | 28,172 |
Office furniture and equipment | 98 | 90 |
Right of use asset | 337 | 493 |
Restricted cash | 3,135 | 3,590 |
Fair value of derivative financial instruments | 1,014 | 1,315 |
Other non-current assets | 10 | 10 |
Total non-current assets | 157,173 | 163,131 |
CURRENT ASSETS | ||
Current portion of fair value of derivative financial instruments | 1,028 | 1,092 |
Trade receivables, net | 611 | 109 |
Inventories | 2,271 | 3,028 |
Prepayments and other assets | 2,155 | 2,887 |
Restricted cash | 850 | 2,378 |
Cash and cash equivalents | 53,234 | 52,833 |
Total current assets | 60,149 | 62,327 |
TOTAL ASSETS | 217,322 | 225,458 |
EQUITY | ||
Issued share capital | 82 | 82 |
Share premium | 284,406 | 284,406 |
Accumulated deficit | (112,365) | (113,790) |
Total equity | 172,123 | 170,698 |
NON-CURRENT LIABILITIES | ||
Long-term borrowings, net of current portion | 31,460 | 37,522 |
Provision for staff retirement indemnities | 174 | 148 |
Lease liabilities | 27 | 188 |
Total non-current liabilities | 31,661 | 37,858 |
CURRENT LIABILITIES | ||
Current portion of long-term borrowings | 6,044 | 6,803 |
Trade accounts payable | 3,198 | 3,548 |
Accrued liabilities and other payables | 3,789 | 5,814 |
Current portion of lease liabilities | 324 | 321 |
Deferred revenue | 183 | 416 |
Total current liabilities | 13,538 | 16,902 |
TOTAL LIABILITIES | 45,199 | 54,760 |
TOTAL EQUITY AND LIABILITIES | $ 217,322 | $ 225,458 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - USD ($) $ in Thousands | Issued capital [member] | Share premium [member] | Accumulated Deficit [member] | Total Equity [member] |
Balance at Dec. 31, 2021 | $ 82 | $ 284,406 | $ (138,070) | $ 146,418 |
Net income for the period | 0 | 0 | 23,098 | 23,098 |
Other comprehensive income | 0 | 0 | 0 | 0 |
Total comprehensive income for the period | 0 | 0 | 23,098 | 23,098 |
Balance at Jun. 30, 2022 | 82 | 284,406 | (114,972) | 169,516 |
Balance at Dec. 31, 2022 | 82 | 284,406 | (113,790) | 170,698 |
Net income for the period | 0 | 0 | 1,425 | 1,425 |
Other comprehensive income | 0 | 0 | 0 | 0 |
Total comprehensive income for the period | 0 | 0 | 1,425 | 1,425 |
Balance at Jun. 30, 2023 | $ 82 | $ 284,406 | $ (112,365) | $ 172,123 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Operating activities | ||
Income for the period | $ 1,425 | $ 23,098 |
Adjustments for: | ||
Depreciation | 2,493 | 2,826 |
Depreciation of deferred dry-docking costs | 2,274 | 2,053 |
Payment of deferred dry-docking costs | (6,387) | (890) |
Reversal of impairment | (4,400) | 0 |
Provision for staff retirement indemnities | 26 | (5) |
Gain on derivative financial instruments | (482) | (1,270) |
Gain on sale of vessel | (71) | 0 |
Interest expense and finance costs | 1,880 | 815 |
Interest income | (922) | (8) |
Foreign exchange losses/(gains), net | 34 | (54) |
Trade receivables, net | (502) | (1,149) |
Inventories | 757 | (554) |
Prepayments and other assets | 733 | (1,246) |
Insurance claims | 0 | (333) |
Trade accounts payable | (1,238) | 1,345 |
Accrued liabilities and other payables | 390 | (295) |
Deferred revenue | (234) | (147) |
Net cash (used in)/generated from operating activities | (4,224) | 24,186 |
Cash flows from investing activities: | ||
Net Proceeds from sale of vessel | 13,694 | 0 |
Advance for vessel acquisition | (3,747) | (21,220) |
Improvements | (133) | (176) |
Purchases of office furniture and equipment | (31) | (7) |
Interest received | 922 | 8 |
Net cash generated from / (used in) investing activities | 10,705 | (21,395) |
Cash flows from financing activities: | ||
Repayment of long-term debt | (3,250) | (2,500) |
Prepayment of long-term debt | (3,674) | 0 |
Decrease/(Increase) in restricted cash | 1,983 | (1,008) |
Repayment of lease liability | (158) | (123) |
Interest paid | (981) | (735) |
Net cash used in financing activities | (6,080) | (4,366) |
Net increase/(decrease) in cash and cash equivalents | 401 | (1,575) |
Cash and cash equivalents at the beginning of the period | 52,833 | 45,213 |
Cash and cash equivalents at the end of the period | $ 53,234 | $ 43,638 |
Basis of presentation and gener
Basis of presentation and general information | 6 Months Ended |
Jun. 30, 2023 | |
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 (“Globus”) and its wholly owned subsidiaries (collectively the “Company”). Globus was formed on July 26, 2006, under the laws of Jersey. On June 1, 2007, Globus concluded its initial public offering in the United Kingdom and its shares were admitted for trading on the Alternative Investment Market (“AIM”). On November 24, 2010, Globus was redomiciled to the Marshall Islands and its shares were admitted for trading in the United States (NASDAQ Global Market) under the Securities Act of 1933, as amended. On November 26, 2010, Globus shares were effectively delisted from AIM. 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 Company conducts its operations through its vessel owning subsidiaries. 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 unaudited interim condensed consolidated financial statements include the financial statements of Globus and its subsidiaries listed below, all wholly owned by Globus as at June 30, 2023: 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 – ** Serena Maritime Limited Marshall Islands October 29,2020 m/v Galaxy Globe Talisman Maritime Limited Marshall Islands July 20,2011 m/v Power Globe Argo Maritime Limited Marshall Islands June 9, 2021 m/v Diamond Globe Calypso Shipholding S.A. Marshall Islands – Hull No: S-1885 * Daxos Maritime Limited Marshall Islands – Hull No: NE-442 * Olympia Shipholding S.A. Marshall Islands – – Paralus Shipholding S.A. Marshall Islands – Hull No: NE-443 * Salaminia Maritime Limited Marshall Islands November 29, 2021 m/v Orion Globe Thalia Shipholding S.A. Marshall Islands – – * New building vessels ** m/v Sun Globe sold and delivered to her new owners on June 5, 2023 (Note 5) Except for the changes disclosed in note 2. These unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements. The operating results for the six-month period ended June 30, 2023, are not necessarily indicative of the results that might be expected for the fiscal year ending December 31, 2023. The unaudited interim condensed consolidated financial statements as at and for the six months ended June 30, 2023, have been prepared in accordance with IAS 34 Interim Financial Reporting. 1. 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 at December 31, 2022 and for the year then ended included in the Company’s Annual Report on Form 20-F for the year ended December 31, 2022 (the “2021 Annual Report”). Unless otherwise defined herein, capitalized words and expressions used herein shall have the same meanings ascribed to them in the 2022 Annual Report. The unaudited interim condensed consolidated financial statements as at June 30, 2023 and for the six months then ended, were approved for issuance by the Board of Directors on September 11, 2023. Going Concern basis of accounting: The Company performs on a regular basis an assessment to evaluate its ability to continue as a going concern. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future, which is at least, but is not limited to, twelve months from the end of the reporting period. The degree of consideration depends on the facts in each case and depends on the Company’s profitability and ready access to financial resources, In certain cases, management may need to consider a wide range of factors relating to current and expected profitability, debt repayment schedules, compliance with the financial and security collateral cover ratio covenants under its existing debt agreements and potential sources of replacement financing before it can satisfy itself that the going concern basis is appropriate. The Company may need to develop detailed cash flow projections as part of its assessment in such cases. In developing estimates of future cash flows, the Company makes assumptions about the vessels’ future performance, with the significant assumptions relating to time charter equivalent rates, vessels’ operating expenses, vessels’ capital expenditures, fleet utilization, Company’s general and administrative expenses and cash flow requirements for debt servicing. The assumptions used to develop estimates of future cash flows are based on historical trends as well as future expectations. As at June 30, 2023, the Company reported a total comprehensive income of $ 1,425 for the six-month period ended June 30, 2023, Cash and cash equivalents of $ 53,234 , a working capital surplus of $ 46.6 million (absolute amount) and was in compliance with its debt covenants. The above conditions indicate that the Company is expected to be able to operate as a going concern and these consolidated financial statements were prepared under this assumption. The conflict between Russia and Ukraine, which commenced in February 2022, has disrupted supply chains and caused instability and significant volatility in the global economy. Much uncertainty remains regarding the global impact of the conflict in Ukraine, and it is possible that such instability, uncertainty and resulting volatility could significantly increase the costs of the Company and adversely affect its business, including the ability to secure charters and financing on attractive terms, and as a result, adversely affect the Company’s business, financial condition, results of operation and cash flows. Currently there is no effect on the Company’s operations. |
Changes in Accounting policies
Changes in Accounting policies and Recent accounting pronouncements | 6 Months Ended |
Jun. 30, 2023 | |
Changes In Accounting Policies And Recent Accounting Pronouncements | |
Changes in Accounting policies and Recent accounting pronouncements | 2. Changes in Accounting policies and Recent accounting pronouncements The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Company’s annual consolidated financial statements for the year ended 31 December 2022, as included in Note 2 to the Company’s consolidated financial statements included in the 2022 Annual Report. There have been no changes to the Company’s accounting policies and recent accounting pronouncements in the six-month period ended June 30, 2023 other than the following IFRS amendments which have been adopted by the Company as of 1 January 2023: Changes in Accounting policies and Recent accounting pronouncements · IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies (Amendments). · IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates (Amendments). 2. Changes in Accounting policies and Recent accounting pronouncements (continued) · IAS 12 Income taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments). · Amendment to IAS 12 Income taxes: International Tax Reform – Pillar Two Model Rules. The amendments had no impact on the financial statements of the Company. In addition to the recent accounting pronouncements issued, but not yet effective and not adopted by the Company, as disclosed in Note 2 to the Company’s consolidated financial statements included in the 2022 Annual Report, there are the following accounting pronouncements issued, but not yet effective and not early adopted by the Company: · Amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures: Supplier Finance Arrangements. The Company has not early adopted the above amendments and is in process of assessing the potential impact on the financial statements. |
Cash and cash equivalents and R
Cash and cash equivalents and Restricted cash | 6 Months Ended |
Jun. 30, 2023 | |
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, 2023 December 31, 2022 Cash on hand 53 36 Cash at banks 53,181 52,797 Total 53,234 52,833 Cash held in banks earns interest at floating rates based on daily bank deposit rates. The fair value of cash and cash equivalents as at June 30, 2023 and December 31, 2022, was $ 53,234 and $ 52,833 , respectively. As at June 30, 2023 and December 31, 2022, the Company had pledged an amount of $ 3,985 and $ 5,968 , respectively, in order to fulfil collateral requirements. The fair value of the restricted cash as at June 30, 2023 was $ 3,985 , $ 3,135 included in non-current assets and $ 850 included in current assets. The fair value of the restricted cash as at December 31, 2022 was $ 5,968 , $ 3,590 included in non-current assets and $ 2,378 included in current assets as at December 31, 2022. The cash and cash equivalents are held with reputable bank and financial institution counterparties with high ratings. |
Transactions with Related Parti
Transactions with Related Parties | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of transactions between related parties [abstract] | |
Transactions with Related Parties | 4 Transactions with Related Parties Details and nature of the Company’s transactions with related parties did not change in the six-month period ended June 30, 2023 and are discussed in Note 4 of the Company’s consolidated financial statements as at and for the year ended December 31, 2022, included in the 2022 Annual Report. As of June 30, 2023 the balance due to Related parties was $ 1,505 ($ 2,197 as of December 31, 2022) and are included in Trade accounts payables in the accompanying Statement of Financial Position. |
Vessels, net and Advances for v
Vessels, net and Advances for vessel acquisition | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Vessels, net and Advances for vessel acquisition | 5 Vessels, net and Advances for vessel acquisition 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, 2023 234,916 (113,009) 23,365 (15,811) 129,461 Additions 131 – 4,879 – 5,010 Reversal of Impairment 4,400 – – – 4,400 Depreciation & Amortization – (2,315) – (2,274) (4,589) Sale of vessel (22,996) 10,423 (3,522) 2,473 (13,622) Balance at June 30, 2023 216,451 (104,901) 24,723 (15,612) 120,661 For the purpose of the unaudited condensed consolidated statement of comprehensive income, depreciation, as stated in the income statement component, comprises the following: Vessels, net - Consolidated Statement of Comprehensive Income/ (loss) For the Three months ended June 30, 2023 For the Six months ended June 30, 2023 Vessels` depreciation 1,128 2,315 Depreciation on office furniture and equipment 12 22 Depreciation of right of use asset 78 156 Total 1,218 2,493 On March 6, 2023, the Company, through a wholly owned subsidiary, entered into an agreement to sell the 2007-built Sun Globe for a gross price of $ 14.1 Following the agreement to sell Sun Globe and given the significant increase in the vessel’s market value, the Company assessed that there were indications that impairment losses recognised in the previous periods with respect to this vessel have decreased. Therefore, the carrying amount of the vessel was increased to its recoverable amount, determined based on selling price less cost to sell, and the Company recorded reversal of impairment amounting $ 4,400 , during the first quarter of 2023. The vessel was delivered to its new owners on June 5, 2023 and the Company recorded a gain of $ 71 which is classified in the unaudited condensed consolidated statement of comprehensive income. No |
Share Capital and Share Premium
Share Capital and Share Premium | 6 Months Ended |
Jun. 30, 2023 | |
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, 2023 2022 Authorised share capital: 500,000,000 Common Shares of par value $ 0.004 each 2,000 2,000 100,000,000 Class B common shares of par value $ 0.001 each 100 100 100,000,000 Preferred shares of par value $ 0.001 each 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. As at June 30, 2023 and 2022 the Company had 20,582,301 issued and fully paid. During the periods ended June 30, 2023 and 2022 no As at June 30, 2023, the Company had no Class B common shares and 10,300 Series B Preferred Shares outstanding. 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, 2023 and December 31, 2022, Globus share premium amounted to $ 284,406 . 6 Share Capital and Share Premium (continued) As at June 30, 2023 and December 31, 2022, the Company had issued 5,550 common shares pursuant to exercise of outstanding Class A Warrants as defined in the 2022 Annual Report and had 388,700 Class A Warrants outstanding to purchase an aggregate of 388,700 common shares. As at June 30, 2023 and December 31, 2022, no PP Warrants, as defined in the 2022 Annual Report, had been exercised and the Company had 1,291,833 PP Warrants outstanding to purchase an aggregate of 1,291,833 common shares. As at June 30, 2023 and December 31, 2022, no December 2020 Warrants, as defined in the 2022 Annual Report, had been exercised and the Company had December 2020 Warrants outstanding to purchase an aggregate of 1,270,587 common shares. As at June 30, 2023 and December 31, 2022, no January 2021 Warrants, as defined in the 2022 Annual Report, had been exercised and the Company had January 2021 Warrants outstanding to purchase an aggregate of 1,950,000 common shares. As at June 30, 2023 and December 31, 2022, no February 2021 Warrants, as defined in the 2022 Annual Report, had been exercised and the Company had February 2021 Warrants outstanding to purchase an aggregate of 4,800,000 common shares. As at June 30, 2023 and December 31, 2022, no June 2021 Warrants, as defined in the 2022 Annual Report, had been exercised and the Company had June 2021 Warrants outstanding to purchase an aggregate of 10,000,000 common shares. The Company’s warrants are classified in equity, following the Company’s assessment that warrants meet the equity classification criteria as per IAS 32. The total outstanding number of warrants as at June 30, 2023, was 19,701,120 to purchase an aggregate of 19,701,120 common shares. |
Earnings_(Loss) per Share
Earnings/(Loss) per Share | 6 Months Ended |
Jun. 30, 2023 | |
Earnings per share [abstract] | |
Earnings/(Loss) per Share | 7 Earnings/(Loss) per Share Basic earnings / (loss) per share (“EPS” / “LPS”) is calculated by dividing the net income / (loss) for the period attributable to Globus shareholders by the weighted average number of shares issued, paid and outstanding Diluted earnings per share is calculated by dividing the net income / (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 all the 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/(losses) per share computation unless such inclusion would be anti-dilutive. As the Company reported losses for the three-month ended June 30, 2023 the effect of any incremental shares would be antidilutive and thus excluded from the computation of the LPS. As for the three-month ended June 30, 2022, the securities that could potentially dilute basic EPS in the future are any incremental shares of unexercised warrants (Note 6). As the warrants were out-of-the money during the three-month period ended March 31, 2022, these were not included in the computation of diluted EPS, because to do so would have anti-dilutive effect. As for the six-month ended June 30, 2023 and 2022, the securities that could potentially dilute basic EPS in the future are any incremental shares of unexercised warrants (Note 6). As the warrants were out-of-the money during the six-month periods ended June 30, 2023 and 2022, these were not included in the computation of diluted EPS, because to do so would have anti-dilutive effect. 7 Earnings/(Loss) per Share (continued) The following reflects the net income per common share: Earnings/(Loss) per Share For the Three months ended June 30, For the Six months ended June 30, 2023 2022 2023 2022 Income / (Loss) attributable to common equity holders (1,161) 11,015 1,425 23,098 Weighted average number of shares - basic and diluted 20,582,301 20,582,301 20,582,301 Net income/(loss) per common share - basic and diluted $ (0.06) $ 0.53 $ 0.07 $ 1.12 |
Long-Term Debt, net
Long-Term Debt, net | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of detailed information about borrowings [abstract] | |
Long-Term Debt, net | 8 Long-Term Debt, net Long-term debt in the condensed consolidated statement of financial position is analysed as follows: Long-Term Debt, net - Consolidated statement of financial position Borrower Loan Balance Unamortized Debt Discount Accrued Interest Total Borrowings Devocean Maritime LTD., Domina Maritime LTD., Dulac Maritime S.A., Artful Shipholding S.A., Longevity Maritime Limited, Serena Maritime Limited and Salaminia Maritime Limited. 37,451 (408) 461 37,504 Total at June 30, 2023 37,451 (408) 461 37,504 Less: Current Portion (5,743) 160 (461) (6,044) Long-Term Portion 31,708 (248) – 31,460 Total at December 31, 2022 44,375 (541) 491 44,325 Less: Current Portion (6,500) 188 (491) (6,803) Long-Term Portion 37,875 (353) – 37,522 Details of the Company’s credit facilities are discussed in Note 11 of the Company’s consolidated financial statements for the year ended December 31, 2022, included in the 2022 Annual Report. In more detail: 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 with First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) for the purpose of refinancing the existing indebtedness secured on the ships. The loan facility is in the names of Devocean Maritime Ltd., Domina Maritime Ltd, Dulac Maritime S.A., Artful Shipholding S.A., Longevity Maritime Limited and Serena Maritime Limited as the borrowers and is guaranteed by Globus. This loan facility is referred to as the “CIT loan facility”. The loan facility bore interest at LIBOR plus a margin 3.75 % for interest periods of three months. Following the agreement reached in August 2022 the benchmark rate was amended from LIBOR to SOFR and the applicable margin was decreased from 3.75% to 3.35 %. This amendment to the loan agreement falls within the scope of Interest Rate Benchmark Reform – Phase 2, Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 (“Amendments”), which have been published by IASB in August 2020 and adopted by the Company as of January 1, 2021. In particular, the Company applied the practical expedient available under the Amendments and adjusted the effective interest rate when accounting for changes in the basis for determining the contractual cash flows under CIT loan facility. No adjustment to the carrying amount of the loan was necessary. The Company has also amended its interest rate swap agreement with First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) and replaced the respective benchmark rate from LIBOR to SOFR in order to depict the change of base rate of the CIT loan facility. 8 Long-Term Debt, net (continued) In August 2022, the Company reached an agreement with First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) for a deed of accession, amendment and restatement of the CIT loan facility by the accession of an additional borrower in order to increase the loan facility from a total of $34.25 million to $ 52.25 million, by a top up loan amount of $18 million for the purpose of financing vessel Orion Globe and for general corporate and working capital purposes of all the borrowers and Globus . The CIT loan facility (including the new top up loan amount) became further secured by a first preferred mortgage over the vessel Orion Globe. Furthermore, the loan facility bears interest at SOFR plus a margin 3.35 % for the whole CIT loan facility. The Company also entered into a new swap agreement in order for the additional borrower to enter into hedging transactions (separately from those entered by the other borrowers) with First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.). On August 10, 2022, the Company drew down $ 18 million, paid approximately $ 259 of borrowing costs incurred, which were deferred over the duration of the loan facility. As previously stated (see Note 2 & Note 5) on March 6, 2023, the Company, through a wholly owned subsidiary, entered into an agreement to sell the 2007-built Sun Globe. On May 10, 2023 the Company prepaid the total remaining amount of $ 3,674 of the loan of Longevity Maritime Limited (the owning company of the vessel Sun Globe) in order to be able to conclude the sale and delivery of the vessel to the new owners which took place on June 5, 2023 . The Company was in compliance with the covenants of CIT loan facility as at June 30, 2023. The contractual annual loan principal payments to First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) loan facility to be made subsequent to June 30, 2023, were as follows: Long-Term Debt, net - Annual loan principal payments June 30, First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) 2024 5,742 2025 5,742 May 10, 2026 25,967 Total 37,451 |
Contingencies
Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of contingent liabilities [abstract] | |
Contingencies | 9 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, 2023 | |
Commitments | |
Commitments | 10 Commitments Voyage revenue The Company enters into time charter arrangements on its vessels. These non-cancellable arrangements had remaining terms between nil days to approximately eleven months as at June 30, 2023, assuming redelivery at the earliest possible date. As at December 31, 2022, the non-cancellable arrangements had remaining terms between nil days to eight and a half months, assuming redelivery at the earliest possible date. Future net minimum revenues receivable under non-cancellable operating leases as at June 30, 2023 and December 31, 2022, 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, 2023 December 31, 2022 Within one year 7,699 6,675 Total 7,699 6,675 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. 10 Commitments (continued) 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 $ 4,441 4,267 9,062 and $ 8,712 for the six-month periods ended June 30, 2023 and 2022, respectively. The lease component that is disclosed then is calculated as the difference between total revenue and the non-lease component revenue and was $ 3,303 14,784 7,171 and $ 28,690 for the six-month periods ended June 30, 2023 and 2022, respectively. Office lease contract As further discussed in Note 4 of the 2022 Annual Report the Company has recognised a right of use asset and a corresponding liability with respect to the rental agreement of office space for its operations within a building leased by FG Europe (an affiliate of Globus’s chairman). The depreciation charge for right-of-use assets for the three-month period ended June 30, 2023 and 2022, was approximately $ 78 and $ 86 , respectively and for the six-month period ended June 30, 2023 and 2022, was approximately $ 156 and $ 171 respectively, and the interest expense on lease liability for the three-month period ended June 30, 2023 and 2022, was approximately $ 8 and $ 15 , respectively and for the period ended June 30, 2023 and 2022, was approximately $ 17 and $ 31 , respectively, and recognised in the income statement component of the condensed consolidated statement of comprehensive income under depreciation and interest expense and finance costs, respectively. At June 30, 2023 and December 31, 2022, the current lease liabilities amounted to $ 324 and $ 321 , respectively, and the non-current lease liabilities amounted to $ 27 and $ 188 , respectively, and are included in the accompanying condensed consolidated statements of financial position. Commitments under shipbuilding contracts On April 29, 2022, the Company entered into a contract, through its subsidiary, Calypso Shipholding S.A., for the construction and purchase of one fuel efficient bulk carrier of about 64,000 dwt vessel. The vessel will be built at Nihon Shipyard Co. in Japan and is scheduled to be delivered during the first half of 2024 . The total consideration for the construction of the vessel is approximately $ 37.5 million (absolute amount), which the Company intends to finance with a combination of debt and equity. In May 2022 the Company paid the 1st instalment of $ 7.4 million (absolute amount) and in March 2023 paid the 2nd instalment of $ 3.8 million (absolute amount), which are both included under Advances for vessel purchase in the condensed consolidated statement of financial position. On May 13, 2022, the Company has signed two contracts, through its subsidiaries, Daxos Maritime Limited and Paralus Shipholding S.A., for the construction and purchase of two fuel efficient bulk carrier of about 64,000 dwt each. The sister vessels will be built at Nantong COSCO KHI Ship Engineering Co. in China with the first one scheduled to be delivered during the third quarter of 2024 and the second one scheduled during the fourth quarter of 2024 . The total consideration for the construction of both vessels is approximately $ 70.3 million (absolute amount), which the Company intends to finance with a combination of debt and equity. In May 2022 the Company paid the 1st instalment of $ 13.8 million (absolute amount) and in November 2022 paid the 2nd instalment of $ 6.9 million (absolute amount) for both vessels under construction. Both instalments are included under Advances for vessel purchase in the condensed consolidated statement of financial position. The contractual annual payments per subsidiary to be made subsequent to June 30, 2023, were as follows: Commitments - Future minimum contractual obligations Calypso Shipholding S.A. Daxos Maritime Limited Paralus Shipholding S.A. July 1, 2023 to June 30, 2024 3,455 3,455 July 1, 2024 to December 31, 2024 – 21,330 21,330 Total 25,900 24,785 24,785 |
Fair values
Fair values | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of fair value measurement of assets [abstract] | |
Fair values | 11 Fair values Carrying amounts and fair values The following table shows the carrying amounts and fair values of assets and liabilities measured or disclosed at fair value, including their levels in the fair value hierarchy (as defined in note 2.25 of the 2022 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 and trade payables. Fair values measurement Carrying amount Fair value Level 1 Level 2 Level 3 Total June 30, 2023 Financial assets Financial assets measured at fair value Non-current portion of fair value of derivative financial instruments 1,014 – 1,014 – 1,014 Current portion of fair value of derivative financial instruments 1,028 – 1,028 – 1,028 2,042 Financial liabilities Financial liabilities not measured at fair value Long-term borrowings 37,451 – 38,535 – 38,535 37,451 Carrying amount Fair value Level 1 Level 2 Level 3 Total December 31, 2022 Financial assets Financial assets measured at fair value Non-current portion of fair value of derivative financial instruments 1,315 – 1,315 – 1,315 Current portion of fair value of derivative financial instruments 1,092 – 1,092 – 1,092 2,407 Financial liabilities Financial liabilities not measured at fair value Long-term borrowings 44,375 – 45,549 – 45,549 44,375 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. 11 Fair values (continued) 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, 2023 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Events after the reporting date | 12 Events after the reporting date Debt financing In August 2023, the Company reached an agreement with First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) for a deed of accession, amendment and restatement of the CIT loan facility by the accession of an additional borrower in order to increase the loan facility from a total of $52.25 million to $ 77.25 million, by a top up loan amount of $ 25 million for the purpose of financing vessels Diamond Globe and Power Globe and for general corporate and working capital purposes of all the borrowers and Globus . The CIT loan facility (including the new top up loan amount) is now further secured by a first preferred mortgage over the vessels Diamond Globe and Power Globe . Furthermore, the applicable margin was amended from 3.35% to 2.70 % for the whole CIT loan facility. On August 10, 2023, the Company drew down $ 25 million. Sale of vessels On August 11, 2023, the Company, through a wholly owned subsidiary, entered into an agreement to sell the 2009-built 10.7 2.2 On August 16, 2023, the Company, through a wholly owned subsidiary, entered into an agreement to sell the 2010-built 11.2 1.6 Contract for new building vessels On August 18, 2023, the Company signed two contracts for the construction and purchase of two fuel efficient bulk carrier of about 64,000 dwt each. The two vessels will be built at a reputable shipyard in Japan and are scheduled to be delivered during the second half of 2026 . The total consideration for the construction of both vessels is approximately $ 75.5 million, which the Company intends to finance with a combination of debt and equity. In August 2023 the Company paid the 1 st 7.5 million for both vessels under construction. 12 Events after the reporting date (continued) Receipt of Nasdaq Notice of Deficiency On July 14, 2023, the Company received written notification from The Nasdaq Stock Market dated July 12, 2023, indicating that because the closing bid price of our common stock for the last 30 consecutive business days was below $1.00 per share, we no longer meet the minimum bid price continued listing requirement for the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5450(a)(1). Pursuant to Nasdaq Listing Rules, the applicable grace period to regain compliance is 180 days, or until January 8, 2024. The Company intends to monitor the closing bid price of its common stock between now and January 8, 2024 and is considering its options, including a potential reverse stock split, in order to regain compliance with the Nasdaq Capital Market minimum bid price requirement. The Company can cure this deficiency if the closing bid price of its common stock is $1.00 per share or higher for at least ten consecutive business days during the grace period. In the event the Company does not regain compliance within the 180-day grace period, and it meets all other listing standards and requirements it may be eligible for an additional 180-day grace period. The Company intends to cure the deficiency within the prescribed grace period. During this time, the Company’s common stock will continue to be listed and trade on the Nasdaq Capital Market. |
Changes in Accounting policie_2
Changes in Accounting policies and Recent accounting pronouncements (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Changes In Accounting Policies And Recent Accounting Pronouncements | |
Changes in Accounting policies and Recent accounting pronouncements | Changes in Accounting policies and Recent accounting pronouncements · IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies (Amendments). · IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates (Amendments). 2. Changes in Accounting policies and Recent accounting pronouncements (continued) · IAS 12 Income taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments). · Amendment to IAS 12 Income taxes: International Tax Reform – Pillar Two Model Rules. The amendments had no impact on the financial statements of the Company. In addition to the recent accounting pronouncements issued, but not yet effective and not adopted by the Company, as disclosed in Note 2 to the Company’s consolidated financial statements included in the 2022 Annual Report, there are the following accounting pronouncements issued, but not yet effective and not early adopted by the Company: · Amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures: Supplier Finance Arrangements. The Company has not early adopted the above amendments and is in process of assessing the potential impact on the financial statements. |
Basis of presentation and gen_2
Basis of presentation and general information (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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 – ** Serena Maritime Limited Marshall Islands October 29,2020 m/v Galaxy Globe Talisman Maritime Limited Marshall Islands July 20,2011 m/v Power Globe Argo Maritime Limited Marshall Islands June 9, 2021 m/v Diamond Globe Calypso Shipholding S.A. Marshall Islands – Hull No: S-1885 * Daxos Maritime Limited Marshall Islands – Hull No: NE-442 * Olympia Shipholding S.A. Marshall Islands – – Paralus Shipholding S.A. Marshall Islands – Hull No: NE-443 * Salaminia Maritime Limited Marshall Islands November 29, 2021 m/v Orion Globe Thalia Shipholding S.A. Marshall Islands – – * New building vessels ** m/v Sun Globe sold and delivered to her new owners on June 5, 2023 (Note 5) |
Cash and cash equivalents and_2
Cash and cash equivalents and Restricted cash (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Cash and cash equivalents [abstract] | |
Cash and cash equivalents and Restricted cash | Cash and cash equivalents and Restricted cash June 30, 2023 December 31, 2022 Cash on hand 53 36 Cash at banks 53,181 52,797 Total 53,234 52,833 |
Vessels, net and Advances for_2
Vessels, net and Advances for vessel acquisition (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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, 2023 234,916 (113,009) 23,365 (15,811) 129,461 Additions 131 – 4,879 – 5,010 Reversal of Impairment 4,400 – – – 4,400 Depreciation & Amortization – (2,315) – (2,274) (4,589) Sale of vessel (22,996) 10,423 (3,522) 2,473 (13,622) Balance at June 30, 2023 216,451 (104,901) 24,723 (15,612) 120,661 |
Vessels, net - Consolidated Statement of Comprehensive Income/ (loss) | Vessels, net - Consolidated Statement of Comprehensive Income/ (loss) For the Three months ended June 30, 2023 For the Six months ended June 30, 2023 Vessels` depreciation 1,128 2,315 Depreciation on office furniture and equipment 12 22 Depreciation of right of use asset 78 156 Total 1,218 2,493 |
Share Capital and Share Premi_2
Share Capital and Share Premium (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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, 2023 2022 Authorised share capital: 500,000,000 Common Shares of par value $ 0.004 each 2,000 2,000 100,000,000 Class B common shares of par value $ 0.001 each 100 100 100,000,000 Preferred shares of par value $ 0.001 each 100 100 Total authorised share capital 2,200 2,200 |
Earnings_(Loss) per Share (Tabl
Earnings/(Loss) per Share (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Earnings per share [abstract] | |
Earnings/(Loss) per Share | Earnings/(Loss) per Share For the Three months ended June 30, For the Six months ended June 30, 2023 2022 2023 2022 Income / (Loss) attributable to common equity holders (1,161) 11,015 1,425 23,098 Weighted average number of shares - basic and diluted 20,582,301 20,582,301 20,582,301 Net income/(loss) per common share - basic and diluted $ (0.06) $ 0.53 $ 0.07 $ 1.12 |
Long-Term Debt, net (Tables)
Long-Term Debt, net (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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 Accrued Interest Total Borrowings Devocean Maritime LTD., Domina Maritime LTD., Dulac Maritime S.A., Artful Shipholding S.A., Longevity Maritime Limited, Serena Maritime Limited and Salaminia Maritime Limited. 37,451 (408) 461 37,504 Total at June 30, 2023 37,451 (408) 461 37,504 Less: Current Portion (5,743) 160 (461) (6,044) Long-Term Portion 31,708 (248) – 31,460 Total at December 31, 2022 44,375 (541) 491 44,325 Less: Current Portion (6,500) 188 (491) (6,803) Long-Term Portion 37,875 (353) – 37,522 |
Long-Term Debt, net - Annual loan principal payments | Long-Term Debt, net - Annual loan principal payments June 30, First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) 2024 5,742 2025 5,742 May 10, 2026 25,967 Total 37,451 |
Commitments (Tables)
Commitments (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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, 2023 December 31, 2022 Within one year 7,699 6,675 Total 7,699 6,675 |
Commitments - Future minimum contractual obligations | Commitments - Future minimum contractual obligations Calypso Shipholding S.A. Daxos Maritime Limited Paralus Shipholding S.A. July 1, 2023 to June 30, 2024 3,455 3,455 July 1, 2024 to December 31, 2024 – 21,330 21,330 Total 25,900 24,785 24,785 |
Fair values (Tables)
Fair values (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of fair value measurement of assets [abstract] | |
Fair values measurement | Fair values measurement Carrying amount Fair value Level 1 Level 2 Level 3 Total June 30, 2023 Financial assets Financial assets measured at fair value Non-current portion of fair value of derivative financial instruments 1,014 – 1,014 – 1,014 Current portion of fair value of derivative financial instruments 1,028 – 1,028 – 1,028 2,042 Financial liabilities Financial liabilities not measured at fair value Long-term borrowings 37,451 – 38,535 – 38,535 37,451 Carrying amount Fair value Level 1 Level 2 Level 3 Total December 31, 2022 Financial assets Financial assets measured at fair value Non-current portion of fair value of derivative financial instruments 1,315 – 1,315 – 1,315 Current portion of fair value of derivative financial instruments 1,092 – 1,092 – 1,092 2,407 Financial liabilities Financial liabilities not measured at fair value Long-term borrowings 44,375 – 45,549 – 45,549 44,375 |
Valuation techniques and significant unobservable inputs | 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, 2023 | ||
Globus Shipmanagement Corp. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of Incorporation | Marshall Islands | |
Vessel Delivery Date | ||
Vessel Owned | Management Co. | |
Devocean Maritime Ltd. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of Incorporation | Marshall Islands | |
Vessel Delivery Date | Dec. 18, 2007 | |
Vessel Owned | m/v River Globe | |
Domina Maritime Ltd. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of Incorporation | Marshall Islands | |
Vessel Delivery Date | May 19, 2010 | |
Vessel Owned | m/v Sky Globe | |
Dulac Maritime S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of Incorporation | Marshall Islands | |
Vessel Delivery Date | May 25, 2010 | |
Vessel Owned | m/v Star Globe | |
Artful Shipholding S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of Incorporation | Marshall Islands | |
Vessel Delivery Date | Jun. 22, 2011 | |
Vessel Owned | m/v Moon Globe | |
Longevity Maritime Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of Incorporation | Malta | [1] |
Vessel Delivery Date | Sep. 15, 2011 | [1] |
Vessel Owned | –** | [1] |
Serena Maritime Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of Incorporation | Marshall Islands | |
Vessel Delivery Date | Oct. 29, 2020 | |
Vessel Owned | m/v Galaxy Globe | |
Talisman Maritime Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of Incorporation | Marshall Islands | |
Vessel Delivery Date | Jul. 20, 2011 | |
Vessel Owned | m/v Power Globe | |
Argo Maritime Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of Incorporation | Marshall Islands | |
Vessel Delivery Date | Jun. 09, 2021 | |
Vessel Owned | m/v Diamond Globe | |
Calypso Shipholding S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of Incorporation | Marshall Islands | [2] |
Vessel Delivery Date | [2] | |
Vessel Owned | Hull No: S-1885* | [2] |
Daxos Maritime Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of Incorporation | Marshall Islands | [2] |
Vessel Delivery Date | [2] | |
Vessel Owned | Hull No: NE-442* | [2] |
Olympia Shipholding S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of Incorporation | Marshall Islands | |
Vessel Delivery Date | ||
Vessel Owned | ||
Paralus Shipholding S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of Incorporation | Marshall Islands | [2] |
Vessel Delivery Date | [2] | |
Vessel Owned | Hull No: NE-443* | [2] |
Salaminia Maritime Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of Incorporation | Marshall Islands | |
Vessel Delivery Date | Nov. 29, 2021 | |
Vessel Owned | m/v Orion Globe | |
Thalia Shipholding S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of Incorporation | Marshall Islands | |
Vessel Delivery Date | ||
Vessel Owned | ||
[1]m/v Sun Globe sold and delivered to her new owners on June 5, 2023 (Note 5)[2]New building vessels |
Basis of presentation and gen_4
Basis of presentation and general information (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of subsidiaries [abstract] | ||||||
Name of reporting entity or other means of identification | Globus Maritime Limited | |||||
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 IFRSs if applied for interim financial report | IAS 34 | |||||
Comprehensive income | $ (1,161,000) | $ 11,015,000 | $ 1,425,000 | $ 23,098,000 | ||
Cash and cash equivalents | $ 53,234,000 | $ 43,638,000 | 53,234,000 | $ 43,638,000 | $ 52,833,000 | $ 45,213,000 |
Working capital surplus | $ 46,600,000 |
Cash and cash equivalents and_3
Cash and cash equivalents and Restricted cash (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Cash and cash equivalents [abstract] | ||||
Cash on hand | $ 53 | $ 36 | ||
Cash at banks | 53,181 | 52,797 | ||
Total | $ 53,234 | $ 52,833 | $ 43,638 | $ 45,213 |
Cash and cash equivalents and_4
Cash and cash equivalents and Restricted cash (Details Narrative) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Cash and cash equivalents [abstract] | ||
Cash and cash equivalents at fair value | $ 53,234 | $ 52,833 |
Amount pledged as collaterals | 3,985 | 5,968 |
Restricted cash at fair value | 3,985 | 5,968 |
Non current restricted cash | 3,135 | 3,590 |
Current restricted cash | $ 850 | $ 2,378 |
Transactions with Related Par_2
Transactions with Related Parties (Details Narrative) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of transactions between related parties [abstract] | ||
Balance due to related parties | $ 1,505 | $ 2,197 |
Vessels, net - Consolidated Sta
Vessels, net - Consolidated Statement of Financial Position (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Reversal of Impairment | $ 0 | $ 0 | $ 4,400 | $ 0 |
Ships [member] | Vessels cost [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance of the period | 234,916 | |||
Additions | 131 | |||
Reversal of Impairment | 4,400 | |||
Sale of vessel | (22,996) | |||
Ending balance of period | 216,451 | 216,451 | ||
Ships [member] | Vessels depreciation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance of the period | (113,009) | |||
Depreciation & Amortization | (2,315) | |||
Sale of vessel | 10,423 | |||
Ending balance of period | (104,901) | (104,901) | ||
Ships [member] | Dry docking costs [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance of the period | 23,365 | |||
Additions | 4,879 | |||
Sale of vessel | (3,522) | |||
Ending balance of period | 24,723 | 24,723 | ||
Ships [member] | Depreciation of dry-docking costs [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance of the period | (15,811) | |||
Depreciation & Amortization | (2,274) | |||
Sale of vessel | 2,473 | |||
Ending balance of period | (15,612) | (15,612) | ||
Ships [member] | Net Book Value [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance of the period | 129,461 | |||
Additions | 5,010 | |||
Reversal of Impairment | 4,400 | |||
Depreciation & Amortization | (4,589) | |||
Sale of vessel | (13,622) | |||
Ending balance of period | $ 120,661 | $ 120,661 |
Vessels, net - Consolidated S_2
Vessels, net - Consolidated Statement of Comprehensive Income/ (loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Depreciation amount | $ 1,218 | $ 1,422 | $ 2,493 | $ 2,826 |
Ships [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Depreciation amount | 1,128 | 2,315 | ||
Office equipment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Depreciation amount | 12 | 22 | ||
Property, plant and equipment subject to operating leases [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Depreciation amount | 78 | 156 | ||
Total depreciation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Depreciation amount | $ 1,218 | $ 2,493 |
Vessels, net and Advances for_3
Vessels, net and Advances for vessel acquisition (Details Narrative) - USD ($) | 2 Months Ended | 3 Months Ended | 6 Months Ended | ||
Mar. 06, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Vessel sale gross price | $ 13,694,000 | $ 0 | |||
Reversal of impairment loss recognised in profit or loss, property, plant and equipment | $ 0 | $ 0 | $ 4,400,000 | 0 | |
Sun Globe [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Vessel year built | 2007-built | ||||
Vessel sale gross price | $ 14,100,000 | ||||
Reversal of impairment loss recognised in profit or loss, property, plant and equipment | $ 4,400 | $ 0 | |||
Vessel Delivery Date | Jun. 05, 2023 | ||||
Gains on disposals of non-current assets | $ 71 |
Share Capital and Share Premi_3
Share Capital and Share Premium - Authorised share capital (Details) - USD ($) $ / shares in Units, $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of classes of share capital [line items] | ||
Value Of Shares Authorised | $ 2,200 | $ 2,200 |
Common 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 |
Preferred 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 (Details Narrative) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | |
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 | $ 284,406 | $ 284,406 | |
Number of outstanding warrants | 19,701,120 | ||
Number of shares called by warrants | 19,701,120 | ||
Common Shares [member] | |||
Disclosure of classes of share capital [line items] | |||
Number of shares issued and fully paid | 20,582,301 | 20,582,301 | |
Number of shares issued | 0 | 0 | |
Class B Common Shares [member] | |||
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding | 0 | ||
Preference shares [member] | |||
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding | 10,300 | ||
Class A Warrants [member] | |||
Disclosure of classes of share capital [line items] | |||
Increase Decrease In Number Of Ordinary Shares Issued Through Exercise Of Warrants Equity | 5,550 | 5,550 | |
Number of outstanding warrants | 388,700 | 388,700 | |
Number of shares called by warrants | 388,700 | 388,700 | |
PP Warrants [member] | |||
Disclosure of classes of share capital [line items] | |||
Number of outstanding warrants | 1,291,833 | 1,291,833 | |
Number of shares called by warrants | 1,291,833 | 1,291,833 | |
December Warrants [member] | Institutional investors [member] | |||
Disclosure of classes of share capital [line items] | |||
Number of outstanding warrants | 1,270,587 | 1,270,587 | |
Number of shares called by warrants | 1,270,587 | 1,270,587 | |
January 2021 Warrants [member] | Institutional investors [member] | |||
Disclosure of classes of share capital [line items] | |||
Number of outstanding warrants | 1,950,000 | 1,950,000 | |
Number of shares called by warrants | 1,950,000 | 1,950,000 | |
February 2021 Warrants [member] | Institutional investors [member] | |||
Disclosure of classes of share capital [line items] | |||
Number of outstanding warrants | 4,800,000 | 4,800,000 | |
Number of shares called by warrants | 4,800,000 | 4,800,000 | |
June 2021 Warrants [member] | |||
Disclosure of classes of share capital [line items] | |||
Number of outstanding warrants | 10,000,000 | 10,000,000 | |
Number of shares called by warrants | 10,000,000 | 10,000,000 |
Earnings_(Loss) per Share (Deta
Earnings/(Loss) per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Earnings per share [abstract] | ||||
Income / (Loss) attributable to common equity holders | $ (1,161) | $ 11,015 | $ 1,425 | $ 23,098 |
Weighted average number of shares - basic and diluted | 20,582,301 | 20,582,301 | 20,582,301 | 20,582,301 |
Basic earnings (loss) per share | $ (0.06) | $ 0.53 | $ 0.07 | $ 1.12 |
Diluted earnings (loss) per share | $ (0.06) | $ 0.53 | $ 0.07 | $ 1.12 |
Long-Term Debt, net - Consolida
Long-Term Debt, net - Consolidated statement of financial position (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about borrowings [line items] | ||
Total Borrowings | $ 37,504 | $ 44,325 |
Total Borrowings - Current Portion | (6,044) | (6,803) |
Total Borrowings - Long-Term Portion | 31,460 | 37,522 |
Loan Balance [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total Borrowings | 37,451 | 44,375 |
Loan Balance - Current Portion | (5,743) | (6,500) |
Loan Balance - Long-Term Portion | 31,708 | 37,875 |
Unamortized Debt Discount [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Unamortized Debt Discount | (408) | (541) |
Unamortized Debt Discount- Current Portion | 160 | 188 |
Unamortized Debt Discount - Long-Term Portion | (248) | (353) |
Accrued Interest [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Accrued Interest | 461 | 491 |
Accrued Interest - Current Portion | (461) | (491) |
Accrued Interest - Long-Term Portion | 0 | $ 0 |
Devocean Maritime LTD., Domina Maritime LTD., Dulac Maritime S.A., Artful Shipholding S.A., Longevity Maritime Limited, Serena Maritime Limited and Salaminia Maritime Limited [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total Borrowings | 37,451 | |
Unamortized Debt Discount | (408) | |
Accrued Interest | 461 | |
Total Borrowings | $ 37,504 |
Long-Term Debt, net - Annual lo
Long-Term Debt, net - Annual loan principal payments (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about borrowings [line items] | ||
Loan Balance | $ 37,504 | $ 44,325 |
First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loan Balance | 37,451 | |
Later than one year and not later than two years [member] | First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loan Balance | 5,742 | |
Later than two years and not later than three years [member] | First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loan Balance | 5,742 | |
Later than three years and not later than four years [member] | First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loan Balance | $ 25,967 |
Long-Term Debt, net (Details Na
Long-Term Debt, net (Details Narrative) - USD ($) | 2 Months Ended | 4 Months Ended | 6 Months Ended | 7 Months Ended | |
Mar. 06, 2023 | May 10, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | Aug. 10, 2022 | |
Disclosure of detailed information about borrowings [line items] | |||||
Prepayments of borrowing | $ 3,674,000 | $ 0 | |||
Sun Globe [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Vessel year built | 2007-built | ||||
Prepayments of borrowing | $ 3,674,000 | ||||
Vessel Delivery Date | Jun. 05, 2023 | ||||
CIT Loan Facility [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Line of Credit Facility, Initiation Date | May 2021 | ||||
Line Of Credit Facility Borrowing Capacity | $ 34,250,000 | ||||
Description of borrowings | for the purpose of refinancing the existing indebtedness secured on the ships. | ||||
Borrowings, interest rate basis | LIBOR plus a margin | ||||
Borrowings, adjustment to interest rate basis | 3.75% | ||||
CIT Loan Facility [member] | August 2022 Agreement [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Line Of Credit Facility Borrowing Capacity | $ 52,250,000 | ||||
Description of borrowings | for the purpose of financing vessel Orion Globe and for general corporate and working capital purposes of all the borrowers and Globus | ||||
Borrowings, interest rate basis | SOFR plus a margin | ||||
Borrowings, adjustment to interest rate basis | 3.35% | ||||
Proceeds from borrowings, classified as financing activities | $ 18,000,000 | ||||
Borrowing costs incurred | $ 259,000 |
Commitments - Future minimum le
Commitments - Future minimum lease revenues receivable under non-cancellable operating leases (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of maturity analysis of operating lease payments [line items] | ||
Total | $ 7,699 | $ 6,675 |
Not later than one year [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Total | $ 7,699 | $ 6,675 |
Commitments - Future minimum co
Commitments - Future minimum contractual obligations (Details) $ in Thousands | Jun. 30, 2023 USD ($) |
Calypso Shipholding S.A. [member] | |
IfrsStatementLineItems [Line Items] | |
July 1, 2023 to June 30, 2024 | $ 25,900 |
July 1, 2024 to December 31, 2024 | 0 |
Total | 25,900 |
Daxos Maritime Limited [member] | |
IfrsStatementLineItems [Line Items] | |
July 1, 2023 to June 30, 2024 | 3,455 |
July 1, 2024 to December 31, 2024 | 21,330 |
Total | 24,785 |
Paralus Shipholding S.A. [member] | |
IfrsStatementLineItems [Line Items] | |
July 1, 2023 to June 30, 2024 | 3,455 |
July 1, 2024 to December 31, 2024 | 21,330 |
Total | $ 24,785 |
Commitments (Details Narrative)
Commitments (Details Narrative) | 3 Months Ended | 4 Months Ended | 5 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2023 USD ($) | Mar. 31, 2023 USD ($) | Jun. 30, 2022 USD ($) | May 13, 2022 USD ($) | Apr. 29, 2022 USD ($) | May 31, 2022 USD ($) | Jun. 30, 2023 USD ($) | Nov. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||
Revenue from rendering of services | $ 7,744,000 | $ 19,051,000 | $ 16,233,000 | $ 37,402,000 | ||||||
Current lease liabilities | 324,000 | 324,000 | $ 321,000 | |||||||
Non-current lease liabilities | 27,000 | 27,000 | $ 188,000 | |||||||
Calypso Shipholding S.A. [member] | ||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||
Vessel type | bulk carrier | |||||||||
Vessel Capacity | 64,000 | |||||||||
Vessel Delivery Date | during the first half of 2024 | |||||||||
Consideration amount | $ 37,500,000 | |||||||||
Instalment amount | $ 3,800,000 | $ 7,400,000 | ||||||||
Paralus Shipholding S.A. [member] | ||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||
Vessel type | bulk carrier | |||||||||
Vessel Capacity | 64,000 | |||||||||
Vessel Delivery Date | during the fourth quarter of 2024 | |||||||||
Daxos Maritime Limited [member] | ||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||
Vessel type | bulk carrier | |||||||||
Vessel Capacity | 64,000 | |||||||||
Vessel Delivery Date | during the third quarter of 2024 | |||||||||
Daxos Maritime Limited and Paralus Shipholding S.A. [member] | ||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||
Consideration amount | $ 70,300,000 | |||||||||
Instalment amount | $ 13,800,000 | $ 6,900,000 | ||||||||
Office Lease Contract [member] | ||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||
Depreciation, right-of-use assets | 78,000 | 86,000 | 156,000 | 171,000 | ||||||
Interest expense on lease liabilities | 8,000 | 15,000 | 17,000 | 31,000 | ||||||
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 | 4,441,000 | 4,267,000 | 9,062,000 | 8,712,000 | ||||||
Operating lease income | $ 3,303,000 | $ 14,784,000 | $ 7,171,000 | $ 28,690,000 |
Fair values measurement (Detail
Fair values measurement (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of fair value measurement of assets [line items] | ||
Non-current portion of fair value of derivative financial instruments | $ 1,014 | $ 1,315 |
Current portion of fair value of derivative financial instruments | 1,028 | 1,092 |
Long-term borrowings | 37,504 | 44,325 |
At fair value [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long-term borrowings | 38,535 | 45,549 |
Financial liabilities not measured at fair value [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long-term borrowings | 37,451 | 44,375 |
Financial liabilities | 37,451 | 44,375 |
Financial assets measured at fair value total [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Non-current portion of fair value of derivative financial instruments | 1,014 | 1,315 |
Current portion of fair value of derivative financial instruments | 1,028 | 1,092 |
Financial assets, at fair value | 2,042 | 2,407 |
Financial assets measured at fair value total [member] | At fair value [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Non-current portion of fair value of derivative financial instruments | 1,014 | 1,315 |
Current portion of fair value of derivative financial instruments | 1,028 | 1,092 |
Financial assets measured at fair value total [member] | At fair value [member] | Level 1 [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Non-current portion of fair value of derivative financial instruments | 0 | 0 |
Current portion of fair value of derivative financial instruments | 0 | 0 |
Financial assets measured at fair value total [member] | At fair value [member] | Level 2 [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Non-current portion of fair value of derivative financial instruments | 1,014 | 1,315 |
Current portion of fair value of derivative financial instruments | 1,028 | 1,092 |
Financial assets measured at fair value total [member] | At fair value [member] | Level 3 [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Non-current portion of fair value of derivative financial instruments | 0 | 0 |
Current portion of fair value of derivative financial instruments | 0 | 0 |
Financial liabilities not measured at fair value [member] | At fair value [member] | Level 1 [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long-term borrowings | 0 | 0 |
Financial liabilities not measured at fair value [member] | At fair value [member] | Level 2 [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long-term borrowings | 38,535 | 45,549 |
Financial liabilities not measured at fair value [member] | At fair value [member] | Level 3 [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long-term borrowings | $ 0 | $ 0 |
Events after the reporting da_2
Events after the reporting date (Details Narrative) | 6 Months Ended | 7 Months Ended | 8 Months Ended | ||||
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Aug. 11, 2023 USD ($) | Aug. 10, 2023 USD ($) | Aug. 31, 2023 USD ($) | Aug. 18, 2023 USD ($) | Aug. 16, 2023 USD ($) | |
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Vessel sale gross price | $ 13,694,000 | $ 0 | |||||
Instalment (absolute amount) | $ 3,747,000 | $ 21,220,000 | |||||
Sky Globe [member] | |||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Vessel year built | 2009-built | ||||||
Vessel sale gross price | $ 10,700,000 | ||||||
Gains on disposals of investment properties | $ 2,200,000 | ||||||
Star Globe [member] | |||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Vessel year built | 2010-built | ||||||
Vessel sale gross price | $ 11,200,000 | ||||||
Gains on disposals of investment properties | $ 1,600,000 | ||||||
Two newbuild bulk carriers [member] | |||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Vessel type | bulk carrier | ||||||
Vessel Capacity | 64,000 | ||||||
Vessel Delivery Date | second half of 2026 | ||||||
Purchase of property, plant and equipment, classified as investing activities | $ 75,500,000 | ||||||
Instalment (absolute amount) | $ 7,500,000 | ||||||
CiT Loan facility [member] | August 2023 Agreement [member] | |||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Line Of Credit Facility Borrowing Capacity | 77,250,000 | ||||||
Increase (decrease) in exposure to credit risk on loan commitments and financial guarantee contracts | $ 25,000,000 | ||||||
Description of borrowings | for the purpose of financing vessels Diamond Globe and Power Globe and for general corporate and working capital purposes of all the borrowers and Globus | ||||||
Assets pledged as collateral | Diamond Globe and Power Globe | ||||||
Borrowings, adjustment to interest rate basis | 2.70% | ||||||
Proceeds from borrowings, classified as financing activities | $ 25,000,000 |