GLYFADA, Greece, Nov. 26, 2025 (GLOBE NEWSWIRE) -- Globus Maritime Limited (“Globus” or the “Company”) (NASDAQ: GLBS), a dry bulk shipping company, announced today that it will release financial results for the three-month and nine-month periods ended September 30, 2025, after the market closes in New York on Friday, November 28, 2025. About Globus Maritime Limited Globus is an integrated dry bulk shipping company that provides marine transportation services worldwide. The Company’s operating fleet consists ...

Financial Performance - 3Q 2025 revenue reached $871.2 million, a 5% increase compared to $831.1 million in 3Q 2024[5] - Net earnings attributable to Kirby were $92.5 million in 3Q 2025, up 3% from $90.0 million in 3Q 2024[5] - Earnings per share increased by 6% year-over-year, reaching $1.65 in 3Q 2025 compared to $1.55 in 3Q 2024[5] - The company generated $160 million of free cash flow during the quarter[6] - $120 million was used to repurchase stock in the third quarter of 2025, with an additional ~$36 million repurchased so far in the fourth quarter of 2025[6] Marine Transportation - Inland barge utilization was in the mid-80% range, contributing approximately 80% of marine transportation revenues[20] - Coastal barge utilization was in the mid to high-90% range, contributing approximately 20% of marine transportation revenues[20] - Inland spot prices decreased in the low-to-mid single digits sequentially and year-over-year, while term contracts renewed flat year-over-year[11] - Coastal term contracts renewed higher in the mid-teens range, and reduced planned shipyard maintenance enhanced asset availability and supported margin expansion to ~20%[11] Distribution & Services - Power generation revenues increased by 56% year-over-year, and operating income increased by 96% year-over-year[16] - Oil and Gas revenues decreased by 38% year-over-year, but operating income increased by 5% year-over-year[16] - Full year revenues for the segment are expected to be up in the mid-single digit range year-over-year, with operating margins expected to be in the high-single digits for the full year[39]

Core Insights - Teekay Tankers Ltd. (NYSE:TNK) experienced a share price increase of 9.63% from October 10 to October 17, 2025, making it one of the top-performing energy stocks during that week [1]. Group 1: Company Performance - The surge in Teekay Tankers' stock price is attributed to the postponement of a global carbon price decision for international shipping by the International Maritime Organization (IMO) [3]. - Teekay Tankers provides marine transportation services to the oil industry, operating in Bermuda and internationally [2]. Group 2: Industry Context - The decision to delay the carbon tax was influenced by opposition from countries like Saudi Arabia and the Trump administration, which labeled the tax as a 'scam tax' [3]. - The IMO's carbon tax initiative aims to promote cleaner fuels, enhance operational efficiency, and invest in low-emission technologies, with a goal for the shipping industry to achieve net zero emissions by around 2050 [4].

Core Viewpoint - Teekay Tankers Ltd. (NYSE:TNK) experienced a 3.91% decline in share price from September 18 to September 25, 2025, making it one of the energy stocks that suffered the most during that week [1][2]. Group 1: Company Overview - Teekay Tankers Ltd. provides marine transportation services to the oil industry, operating in Bermuda and internationally [2]. Group 2: Industry Concerns - A consortium of global shipping operators has expressed serious concerns regarding the Net Zero Framework (NZF) proposed for adoption by the United Nations' International Maritime Organization (IMO) next month, which has negatively impacted shipping stocks, including Teekay Tankers [2]. - The consortium stated that the IMO NZF would not effectively support the decarbonization of the maritime industry and would fail to ensure a level playing field, calling for critical amendments before adoption [3]. - The United States has already rejected the deal and threatened tariffs, visa restrictions, and port levies on countries that support the NZF [3].

Company Overview - Globus Maritime Limited is an integrated dry bulk shipping company providing marine transportation services globally [2] - The company's fleet consists of nine dry bulk vessels with a total carrying capacity of 680,622 deadweight tons and a weighted average age of 7.8 years as of September 17, 2025 [2] Financial Results Announcement - The company will release its financial results for the quarter and six-month period ended June 30, 2025, after the market closes in New York on September 19, 2025 [1]

Financial Data and Key Metrics Changes - The second quarter results were generally in line with expectations, with a focus on future growth opportunities [5] - The company expects to generate increasing amounts of free cash flow starting in the third quarter of 2025, providing financial flexibility for stakeholders [11][18] Business Segment Data and Key Metrics Changes - The offshore pipeline transportation segment saw a sequential increase in volumes as previously impacted offshore wells were brought back online [12] - The marine transportation segment performed in line with expectations, with strong demand fundamentals for the inland fleet, while the blue water fleet faced softer demand [13][15] - The onshore transportation and services segment also performed as expected, with strong volumes through Texas and Riceland terminals [16] Market Data and Key Metrics Changes - Demand for inland transportation equipment is expected to increase as refiners begin their turnaround season, which historically drives demand [14] - The marine transportation market is experiencing some short-term challenges, but long-term fundamentals remain constructive due to limited supply additions [15] Company Strategy and Development Direction - The company is focused on the successful commissioning of the Shenandoah production facility, which has a capacity of 120,000 barrels per day, and is expected to ramp up production significantly [5][7] - Future developments include the Shenandoah South discovery and the Monument discovery, which will further enhance the company's production capabilities [9][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the projected timeline for Salamanca's initial production by the end of the third quarter, despite potential weather disruptions [21] - The company remains committed to reducing leverage and improving the balance sheet while considering capital returns to unitholders starting in 2025 [25][36] Other Important Information - The company highlighted that delays in production will not significantly impact its ability to generate free cash flow or its outlook for 2026 and beyond [18] - Management emphasized the importance of maintaining financial flexibility to pursue strategic opportunities and enhance stakeholder value [18][19] Q&A Session Summary Question: Timing on Salamanca production - Management feels confident about the projected timeline for Salamanca's initial production by the end of the third quarter, with no significant weather disruptions expected [21] Question: Capital return timing - Management indicated that capital returns could potentially start in 2025, depending on the performance of new projects [25] Question: New commercial opportunities - Management stated there are no new commercial opportunities currently identified, focusing instead on ramping up existing offshore projects [26] Question: Portfolio satisfaction and divestiture candidates - Management expressed satisfaction with the current portfolio and indicated no plans for significant divestitures, focusing on existing business lines [27] Question: Monument development timeline - Management confirmed that Monument is expected to be the next significant development after Salamanca, with additional volumes anticipated in 2026 [28] Question: Marine transportation segment trends - Management noted that while the marine transportation segment faced some short-term challenges, utilization rates remain high, supporting future rate increases [32][34] Question: Leverage ratio timeline and balancing shareholder returns - Management indicated that discussions regarding leverage ratios and shareholder returns will be more defined as 2026 approaches, with potential distributions considered in the fourth quarter of 2025 [36][37] Question: Confidence in adjusted EBITDA guidance - Management expressed cautious optimism about meeting the low end of the adjusted EBITDA guidance, based on early production results [39]

Company Overview - Globus Maritime Limited is an integrated dry bulk shipping company providing marine transportation services globally [2] - The company's fleet consists of nine dry bulk vessels with a total carrying capacity of 680,622 dead weight tons and a weighted average age of 7.5 years as of June 11, 2025 [2] Financial Results Announcement - The company will release its financial results for the three-month period ended March 31, 2025, after the market closes in New York on June 16, 2025 [1]

Core Insights - Teekay Corporation Ltd. and Teekay Tankers Ltd. have published their 2024 Sustainability Report, available on their website [1] Company Overview - Teekay is a prominent provider of international crude oil marine transportation and marine services, operating through its controlling interest in Teekay Tankers Ltd. [2] - Teekay Tankers manages approximately 59 conventional tankers and other marine assets, employing around 2,300 seagoing and shore-based employees across eight countries [2] Fleet and Operations - Teekay Tankers operates a fleet of 36 double-hull tankers, including 20 Suezmax and 16 Aframax/LR2 tankers, along with four time-chartered oil tankers [4] - The vessels are utilized through a combination of spot market trading and short- to medium-term fixed-rate time charter contracts [4] - Teekay Tankers also manages vessels for the Australian Government and owns a ship-to-ship transfer business in the U.S. Gulf and Caribbean [4]

Core Points - Globus Maritime Limited filed its annual report on Form 20-F with the Securities and Exchange Commission, which includes audited financial statements for the fiscal year ended December 31, 2024 [1] - The company operates a fleet of ten dry bulk vessels with a total carrying capacity of 734,249 dead weight tons and an average age of 8 years as of March 14, 2025 [2] Company Overview - Globus Maritime Limited is an integrated dry bulk shipping company providing marine transportation services globally [2] - The company's fleet transports various dry bulk cargoes including iron ore, coal, grain, steel products, cement, and alumina [2]