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Sep 30, 2025
Globus Q3 2025 Earnings Report
Globus reported revenue of $12.6 million and net income of $0.7 million in Q3 2025, showing improved market conditions and operational efficiency.
Key Takeaways
Globus Maritime delivered a profitable Q3 2025, benefiting from rising charter rates and increased fleet size. Strong EBITDA and fleet utilization reflect effective management despite dry-docking disruptions.
Revenue for Q3 2025 reached $12.6 million, driven by higher vessel count and improved charter rates.
Net income came in at $0.7 million, reversing a loss in the same period last year.
Adjusted EBITDA rose to $5.5 million, nearly doubling year-over-year.
Fleet utilization remained strong at 98.7%, despite a vessel undergoing dry-docking.
Forward Guidance
Globus Maritime expressed optimism about Q4 and beyond, citing favorable charter market conditions, successful financing, and continued fleet enhancements.
Positive Outlook
- Charter rates for midsize bulk carriers improved to $15,000–$18,000 per day.
- Short-term and index-linked charter strategy provides upside in a rising market.
- Secured financing for two newbuild vessels with favorable terms.
- Reduced margin and extended maturity on existing loan facility.
- New fuel-efficient vessels scheduled for 2026 delivery to enhance flexibility.
Challenges Ahead
- Dry-docking of one vessel temporarily reduced utilization during Q3.
- Operating costs remain elevated due to maintenance and dry-docking.
- Market still recovering from weak first half of 2025.
- Revenue growth reliant on continued strength in market rates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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