GLOBUS
Delivery of the Handymax bulk carrier “Ocean Globe”

NOV, 13.2008

To Handymax «Ocean Globe»

Globus Maritime Ltd, listed on the AIM of the London Stock Exchange, (George Karageorgiou, CEO), on November 12, 2008, delivered the M/V “Ocean Globe”, a Handymax bulk carrier of approximately 43,189 dwt, built in 1995 in South Korea, to its new owners Romanos Maritime Ltd, an unaffiliated third party.

The company has received the amount of USD 37m in cash before broker’s commissions and other costs related to the sale. Taking depreciation into account, the Company has realized a capital gain of approximately USD 15m as the vessel was purchased in July 2006 for USD 25m.

Globus repaid USD 16.1m to Deutsche Schiffsbank, reducing the outstanding bank loan to USD 64.4m, and intends to retain the balance of the proceeds from this sale in cash to further strengthen its Balance Sheet.

• Globus is a global provider of seaborne transportation services for dry bulk cargoes, including among others iron ore, coal, grain, cement, and fertilizers, along worldwide shipping routes. The Company owns and operates 5 Handymax and 2 Panamax vessels, with a weighted average age of approximately 11.4 years as at November 12, 2008 and a total carrying capacity of 372,369 dwt. Jefferies International Ltd is acting as nominated adviser and broker to the company.