Globus Maritime Limited reported a net loss of $1.5 million for the first quarter of 2025, or $0.07 basic and diluted loss per share, compared to a net loss of $0.3 million, or $0.01 basic and diluted loss per share, for the same period in 2024. Voyage revenues for Q1 2025 increased by 13% to $8.6 million, up from $7.6 million in Q1 2024.
The increase in voyage revenues was primarily attributed to an increase in the average number of vessels operated, rising from 6.7 in Q1 2024 to 9.8 in Q1 2025. However, this revenue growth was counterbalanced by a 22% decrease in the daily Time Charter Equivalent (TCE) rate, which fell to $9,225 per vessel per day in Q1 2025 from $11,862 per vessel per day in Q1 2024.
Management noted that the first quarter of 2025 was weak due to seasonal factors and geopolitical and economic influences. Despite the challenging market, the company is operating a younger, more fuel-efficient fleet and continues its expansion and renewal efforts with two Ultramaxes under construction in Japan, scheduled for delivery in 2026.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.