SEAS - Globus Maritime - Uninvestable But Potentially Worth A Rebound Trade
Note:
I have covered Globus Maritime (GLBS) previously, so investors should view this as an update to my earlier articles on the company.
Six months ago, I discussed the terms of another toxic financing transaction entered into by small, Greek-based drybulk shipper Globus Maritime.
The company's fleet currently consists of five drybulk carriers, four Supramaxes, and one Panamax, all trading in the spot market. The average vessel age is 11.5 years.
Picture: Supramax drybulk carrier "Sky Globe" - Source: vesseltracker.com
The company is controlled by its founder and principal shareholder, Georgios Feidakis and