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Actionable news in GLBS: Globus Maritime Limited,

Report of foreign issuer [Rules 13a-16 and 15d-16]

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 UND ER THE SECURITIES EXCHANGE ACT OF 1934

For the month of September 2015

Commission File Number: 001-34985

Globus Maritime Limited
(Translation of registrants name into English)

128 Vouliagmenis Avenue, 3rd Floor, Glyfada, Athens, Greece, 166 74
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Indicate by check mark whether the registrant by furnishing the information contained in the Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes o No x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

EXHIBIT INDEX

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Exhibit 99.1

Globus Maritime Limited Reports Financial Results for the Quarter and Six-Month Period

Ended June 30, 2015

Athens, Greece, September 24, 2015, Globus Maritime Limited ("Globus," the Company," we, or our) (NASDAQ: GLBS), a dry bulk shipping company, today reported its unaudited consolidated operating and financial results for the quarter and six-month period ended June 30, 2015.

Financial Highlights

(1)

Net revenue is computed by subtracting voyage expenses from revenue. Net revenue is not a recognized measurement under international financial reporting standards (IFRS) and should not be considered as an alternative or comparable to net income.

(2)

Adjusted (LBITDA)/EBITDA is a measure not in accordance with generally accepted accounting principles (GAAP). See a later section of this press release for a reconciliation of non-GAAP financial measures.

(3)

Adjusted for preferred dividends declared during the period under consideration.

Current Fleet Profile

As of the date of this press release, Globus subsidiaries own and operate six dry bulk carriers, consisting of four Supramax, one Panamax and one Kamsarmax.

Current Fleet Deployment

All our vessels are currently operating on short term time charters (on spot).

Management Commentary

George Karageorgiou, President, Chief Executive Officer and Chief Financial Officer of Globus Maritime Limited, stated:

We reported revenue of $3.3 million for the three-month period ended June 30, 2015, a 54% decline compared to $7.2 million for the same period in 2014. This decline was mainly attributed to 50% lower rates achieved by our vessels during the second quarter of this year compared to the same period in 2014, following the soft dry bulk market.

In this challenging environment, we maintained our focus on the Companys operational efficiency. Our voyage expenses dropped 64% to $0.4 million in the second quarter of 2015 from $1.1 million during the same time period in 2014. Furthermore, our average daily operating expenses declined 27% for the same periods.

We improved the Companys balance sheet, utilizing the proceeds from the sale of m/v Tiara Globe to fully repay the remaining loan balance of $5.0 million to Credit Suisse AG in July 2015.

We remain cautiously optimistic on dry bulk sector prospects due to restructuring of Chinas economy. The near-term outlook for the dry bulk shipping market remains grim, at least through this year. Although we have seen encouraging steps on the supply side, with high scrapping rates during the first half of 2015, low new orders and significant delivery slippage, the demand prospects remain weak until the end of this year given a slowing Chinese economy and the recent turmoil in the China equity market, though we look for another modest uptick in the historically seasonally stronger fourth quarter. Beyond this year, we do forecast that iron ore and coal seaborne demand expansion will re-accelerate in 2016 improving the dry bulk sector prospects going forward.

Management Discussion and Analysis of the Results of Operations

Second quarter of the year 2015 compared to the second quarter of the year 2014

Total comprehensive loss for the second quarter of the year 2015 amounted to $10.3 million or $1.01 basic loss per share based on 10,256,909 weighted average number of shares, compared to total comprehensive loss of $1.2 million for the same period last year or $0.14 basic loss per share based on 10,232,076 weighted average number of shares.

The following table corresponds to the breakdown of the factors that led to the increase in total comprehensive loss during the second quarter of 2015 compared to the second quarter of 2014 (expressed in $000s):

2 nd Quarter of 2015 vs 2 nd Quarter of 201 4

Revenue

During the three-month period ended June 30, 2015 and 2014, our Revenue reached $3.3 million and $7.2 million respectively. The 54% decrease in Revenue was mainly attributed to the decrease in the average time charter equivalent rates achieved by our vessels during the second quarter of 2015 compared to the same period in 2014. Time Charter Equivalent rate (TCE) for the second quarter of 2015 amounted to $4,560 per vessel per day against $9,189 per vessel per day during the same period in 2014 corresponding to a decrease of 50%.

Voyage expenses

Voyage expenses reached $0.4 million during the second quarter of 2015 compared to $1.1 million during the same period last year. Voyage expenses include commissions on revenue, port and other voyage expenses and bunker expenses. Bunker expenses mainly refer to the cost of bunkers consumed during periods that our vessels are travelling seeking employment. Voyage expenses for the second quarter of 2015 and 2014 are analyzed as follows:

Vessel operating expenses

Vessel operating expenses, which include crew costs, provisions, deck and engine stores, lubricating oils, insurance, maintenance, and repairs, decreased by $0.4 million or 15% to $2.3 million during the three month period ended June 30, 2015 compared to $2.7 million during the same period in 2014. The breakdown of our operating expenses for the quarters ended June 30, 2015 and 2014 was as follows:

Average daily operating expenses during the three-month periods ended June 30, 2015 and 2014 were $3,647 per vessel per day and $5,002 per vessel per day respectively, corresponding to a decrease of 27%. It should be noted though that the performance of the company over the cost of operating its fleet vessels should be based on longer periods of time than three-month periods. For the year ended June 30, 2015 average daily operating expenses reached $4,121 per vessel per day compared to $4,693 per vessel per day during the same period last year corresponding to a...


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