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Banks agree to give Globus Maritime a ‘breather’

Banks agree to give Globus Maritime a ‘breather’

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Globus Maritime has reached agreements with DVB Bank and HSH Nordbank on certain amendments and waivers to the terms of the original agreements from 2011 and 2015.

The dry bulk owner has won waivers and relaxations on its loan covenants as well as being able to defer instalment loan payments due in 2017.

Athanasios Feidakis, the head of the Greek line, commented, “We are very pleased that our efforts with our lenders have been fruitful. Our agreements with both DVB Bank and HSH Nordbank AG to gain waiver relaxations of our financial covenants as well as the deferrals in our installment loan payments gives the company a breather and allows us to concentrate in our operational activities and plan ahead.”

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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