Globus Enters into Agreement to Acquire a Panamax Bulkcarrier

Globus Maritime Limited, a marine transportation company that owns and operates Handymax and Panamax dry bulk ocean-going vessels, today announces that it has entered into an agreement with an unaffiliated third party in order to acquire a 1998- built 72,929 dwt geared Panamax bulkcarrier, for an agreed purchase price of US$ 66.8 million. The vessel is expected to be delivered by mid-December 2007, will be renamed M/V ‘Tiara Globe’ and will fly the Marshall Islands flag. On completion of this acquisition, Globus’ fleet will comprise a total of eight modern dry bulkcarriers, consisting of six Handymaxes and two Panamaxes