Greek dry bulk shipping company Globus Maritime reported a revenue of $12.2 million for the first quarter ended March 31, 2026, marking a rise from the $8.6 million recorded during the same period in the previous year.
This growth was driven by the daily time charter equivalent rate climbing 68 per cent to $15,706, up from $9,370 during the first quarter of 2025.
The company achieved a net income of $1.1 million for the quarter, recovering from a net loss of $1.5 million in the prior year's corresponding period. Adjusted EBITDA reached $6.2 million, which is a rise from the $2 million recorded in the first quarter of 2025.
Globus currently owns and operates nine dry bulk carriers, consisting of six Kamsarmax and three Ultramax vessels. The company stated that it expects to take delivery of two Ultramax vessels currently under construction in Japan later this year.
Regarding regional challenges, Globus reported that the conflict in the Persian Gulf has caused disruptions to cargo movements and supply chains.
Despite these hostilities causing a significant rise in bunker fuel prices, the company concluded there was no significant impact on its operations or financial performance for the three-month period ended March 31, 2026.
"The first quarter is traditionally a seasonally weaker period for the dry bulk industry," said Chief Executive Officer Athanasios Feidakis. He noted that while market conditions were subdued at the beginning of the year, activity and sentiment improved steadily throughout the quarter.
Looking ahead, Globus stated it is focused on monitoring the bunker and lubricant markets to source supplies efficiently while maintaining its commitment to operational reliability.
The company said it expects these trade route disruptions and potential increases in regional coal consumption to provide support to dry bulk market fundamentals.
