Globus Maritime Limited (GLBS) 20-F 29 Mar 21 2020 FY Annual report (foreign) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2020shares
Document Entity Information [Abstract]
Entity Registrant Name	GLOBUS MARITIME LTD
Entity Central Index Key	0001499780
Document Type	20-F
Document Period End Date	Dec. 31, 2020
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding	3,040,123
Entity Address Country	MH
Entity Interactive Data Current	Yes
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Title of 12(b) Security	Common Shares, par value $0.004 per share
Trading Symbol	GLBS
Security Exchange Name	NASDAQ

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
REVENUE:
Voyage revenues	$ 11,753	$ 15,623	$ 17,354
Total Revenues	11,753	15,623	17,354
EXPENSES & OTHER OPERATING INCOME:
Voyage expenses	(2,490)	(2,098)	(1,188)
Vessel operating expenses	(8,581)	(8,882)	(9,925)
Depreciation	(2,398)	(4,721)	(4,601)
Depreciation of dry-docking costs	(1,335)	(1,704)	(1,166)
Administrative expenses	(1,891)	(1,583)	(1,356)
Administrative expenses payable to related parties	(1,915)	(371)	(528)
Share-based payments	(40)	(40)	(40)
Impairment loss	(4,615)	(29,902)	0
Other income, net	89	29	2
Operating loss	(11,423)	(33,649)	(1,448)
Interest income	16	47	0
Interest expense and finance costs	(4,155)	(4,703)	(2,056)
Gain/(Loss) on derivative financial instruments	(1,647)	1,950	(131)
Foreign exchange gains/(losses), net	(163)	4	67
Non-operating loss	(5,949)	(2,702)	(2,120)
TOTAL LOSS FOR THE YEAR	(17,372)	(36,351)	(3,568)
Other Comprehensive Income	0	0	0
TOTAL COMPREHENSIVE LOSS FOR THE YEAR	$ (17,372)	$ (36,351)	$ (3,568)
Loss per share (U.S.$):
- Basic and Diluted loss per share for the year	$ (18.11)	$ (873.36)	$ (111.6)

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
NON-CURRENT ASSETS
Vessels, net	$ 62,350	$ 48,242
Office furniture and equipment	100	103
Right of use asset	450	562
Restricted cash	1,250	1,250
Other non-current assets	10	10
Total non-current assets	64,160	50,167
CURRENT ASSETS
Trade accounts receivable	153	240
Inventories	1,248	1,545
Prepayments and other assets	1,027	153
Restricted cash	816	1,185
Cash and cash equivalents	19,037	2,366
Total current assets	22,281	5,489
TOTAL ASSETS	86,441	55,656
EQUITY
Issued share capital	12	0
Share premium	195,102	145,527
Accumulated deficit	(153,020)	(135,648)
Total equity	42,094	9,879
NON-CURRENT LIABILITIES
Long-term borrowings, net of current portion	30,887	36,551
Provision for staff retirement indemnities	31	26
Lease liabilities	367	469
Total non-current liabilities	31,285	37,046
CURRENT LIABILITIES
Current portion of long-term borrowings	5,665	1,195
Trade accounts payable	4,758	4,735
Accrued liabilities and other payables	2,159	1,971
Current portion of lease liabilities	195	208
Fair value of derivative financial instruments	0	622
Deferred revenue	285	0
Total current liabilities	13,062	8,731
TOTAL LIABILITIES	44,347	45,777
TOTAL EQUITY AND LIABILITIES	$ 86,441	$ 55,656

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Issued Share Capital	Share Premium	(Accumulated Deficit)
As at Dec. 31, 2017	$ 43,968		$ 139,697	$ (95,729)
TOTAL COMPREHENSIVE LOSS FOR THE YEAR	(3,568)			(3,568)
Loss for the year	(3,568)			(3,568)
Other comprehensive income	0			0
Share-based payments (note 12)	50		50
Issuance of new common shares due to exercise of Warrants (note 9)	600		600
As at Dec. 31, 2018	41,050		140,347	(99,297)
TOTAL COMPREHENSIVE LOSS FOR THE YEAR	(36,351)			(36,351)
Loss for the year	(36,351)			(36,351)
Other comprehensive income	0			0
Share-based payments (note 12)	40		40
Issuance of common stock due to conversion (note 11)	5,140		5,140
As at Dec. 31, 2019	9,879		145,527	(135,648)
TOTAL COMPREHENSIVE LOSS FOR THE YEAR	(17,372)			(17,372)
Loss for the year	(17,372)			(17,372)
Other comprehensive income	0			0
Share-based payments (note 12)	40		40
Issuance of common stock due to conversion (note 11)	815		815
Issuance of new common shares (note 9)	49,317	12	49,305
Issuance of new common shares due to exercise of Warrants (note 9)	194		194
Issuance of Class B preferred shares (Note 4)	300		300
Transaction costs on issue of new common shares	(1,079)		(1,079)
As at Dec. 31, 2020	$ 42,094	$ 12	$ 195,102	$ (153,020)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities
Loss for the year	$ (17,372)	$ (36,351)	$ (3,568)
Adjustments for:
Depreciation	2,398	4,721	4,601
Depreciation of deferred dry-docking costs	1,335	1,704	1,166
Payment of deferred dry-docking costs	(2,663)	(861)	(1,204)
Provision for staff retirement indemnities	5	(61)	5
Impairment loss	4,615	29,902	0
(Gain)/Loss on derivative financial instruments	1,647	(1,950)	131
Interest expense and finance costs	4,155	4,703	2,056
Interest income	(16)	(47)	0
Foreign exchange gains, net	121	(11)	(81)
Share based payment	40	40	50
Trade accounts receivable	87	337	(400)
Inventories	297	(895)	11
Prepayments and other assets	(874)	18	255
Trade accounts payable	89	(1,013)	1,303
Accrued liabilities and other payables	(392)	63	(258)
Deferred revenue	285	(86)	(216)
Net cash (used in)/ generated from operating activities	(6,243)	213	3,851
Cash flows from investing activities:
Vessel acquisition	(18,474)	0	0
Purchase of vessel equipment	(54)	(54)	(26)
Purchases of office furniture and equipment	(30)	(13)	(100)
Interest received	16	47	0
Net cash used in investing activities	(18,542)	(20)	(126)
Cash flows from financing activities:
Proceeds from loans	0	43,700	15,700
Repayment of long-term debt	0	(1,830)	(19,497)
Prepayment of long-term debt	(3,040)	(33,833)	0
Proceeds from issuance of share capital	49,317	0	600
Proceeds from exercise of Warrants	194	0	0
Transaction costs on issuance of new common shares	(1,079)	0	0
(Increase)/decrease in restricted cash	369	(1,085)	(1,140)
Payment of financing costs	0	(880)	(203)
Payment of lease liability - principal	(159)	(30)	0
Interest paid	(4,146)	(3,915)	(1,895)
Net cash generated from/ (used in) financing activities	41,456	2,127	(6,435)
Net increase/(decrease) in cash and cash equivalents	16,671	2,320	(2,710)
Cash and cash equivalents at the beginning of the year	2,366	46	2,756
Cash and cash equivalents at the end of the year	$ 19,037	$ 2,366	$ 46

Basis of Presentation And Gener

Basis of Presentation And General Information	12 Months Ended
	Dec. 31, 2020
Disclosure of subsidiaries [abstract]
Basis of presentation and general information	1. Basis of presentation and general information The accompanying consolidated financial statements include the financial statements of Globus Maritime Limited (“Globus”) and its wholly owned subsidiaries (collectively the “Company”). Globus was formed on July 26, 2006, under the laws of Jersey. On June 1, 2007, Globus concluded its initial public offering in the United Kingdom and its shares were admitted for trading on the Alternative Investment Market (“AIM”). On November 24, 2010, Globus was redomiciled to the Marshall Islands and its shares were admitted for trading in the United States (NASDAQ Global Market) under the Securities Act of 1933, as amended. On November 26, 2010, Globus’ shares were effectively delisted from AIM. The address of the registered office of Globus is: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. The principal business of the Company is the ownership and operation of a fleet of dry bulk motor vessels (“m/v”), providing maritime services for the transportation of dry cargo products on a worldwide basis. The Company conducts its operations through its vessel owning subsidiaries. The operations of the vessels are managed by Globus Shipmanagement Corp. (the “Manager”), a wholly owned Marshall Islands corporation. The Manager has an office in Greece, located at 128 Vouliagmenis Avenue, 166 74 Glyfada, Greece and provides the commercial, technical, cash management and accounting services necessary for the operation of the fleet in exchange for a management fee. The management fee is eliminated on consolidation. The consolidated financial statements include the financial statements of Globus and its subsidiaries listed below, all wholly owned by Globus as of December 31, 2020: Company Country of Incorporation Vessel Delivery Date Vessel Owned Globus Shipmanagement Corp. Marshall Islands - Management Co. Devocean Maritime Ltd. Marshall Islands December 18, 2007 m/v River Globe Domina Maritime Ltd. Marshall Islands May 19, 2010 m/v Sky Globe Dulac Maritime S.A. Marshall Islands May 25, 2010 m/v Star Globe Artful Shipholding S.A. Marshall Islands June 22, 2011 m/v Moon Globe Longevity Maritime Limited Malta September 15, 2011 m/v Sun Globe Serena Maritime Limited Marshall Islands October 29, 2020 m/v Galaxy Globe Talisman Maritime Limited Marshall Islands - - The consolidated financial statements as of December 31, 2020 and 2019 and for the three years in the period ended December 31, 2020, were approved for issuance by the Board of Directors on March 24, 2021.

Basis of Preparation And Signif

Basis of Preparation And Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Significant Accounting Policies and Recent Accounting Pronouncements [Abstract]
Basis of Preparation and Significant Accounting Policies	2. Basis of Preparation and Significant Accounting Policies 2.1 Basis of Preparation: The consolidated financial statements have been prepared on a historical cost basis, except for financial instruments which are measured at fair value. The consolidated financial statements are presented in U.S. dollars and all values are rounded to the nearest thousand ($ 000s) except when otherwise indicated. Going concern basis of accounting: As of December 31, 2019, the Company reported a working capital deficit of $3,242 and accumulated deficit of $135,648. The low charter rates for dry bulk vessels as a result of the coronavirus outbreak and its effects on world trade and financial markets adversely affected the Company. The Company’s cash flow projections indicated that cash on hand and cash to be generated by operating activities might not be sufficient to cover the liquidity needs, including the debt obligations that became due in the twelve-month period ending following the issuance of the 2019 consolidated financial statements and the Company may not have been able to meet the minimum liquidity requirements included in the loan agreement with EnTrust at certain measurement dates falling due within the 12 month period from the issuance of the 2019 financial statements. These conditions raised substantial doubt about the entity's ability to continue as a going concern. On June 22, 2020, June 30, 2020, July 21, 2020 and December 9, 2020, the Company completed follow-on equity offerings that provided the Company with additional liquidity (refer to Note 9). As of December 31, 2020, the Company reported a working capital surplus of $9.2 million and was in compliance with its debt covenants. Subsequently, on January 29, 2021 and February 17, 2021, the Company completed additional follow-on equity offerings that provided the Company with further liquidity (refer to Note 22). The Company’s cash flow projections indicate that the Company is expected to be able to meet the debt covenants on the applicable measurement dates falling due in the twelve-month period ending following the issuance of these consolidated financial statements and that cash on hand and cash to be provided by operating activities will be sufficient to cover the liquidity needs, including the debt obligations that become due in the twelve-month period ending following the issuance of these consolidated financial statements. Impact of COVID-19 on the Company’s Business The spread of the COVID-19 virus, which has been declared a pandemic by the World Health Organization in 2020 has caused substantial disruptions in the global economy and the shipping industry, as well as significant volatility in the financial markets, the severity and duration of which remains uncertain. The impact of the COVID-19 pandemic continues to unfold and may continue to have negative effect on the Company’s business, financial performance and the results of its operations, including due to decreased demand for global seaborne dry bulk trade and dry bulk charter rates, the extent of which will depend largely on future developments. As a result, many of the Company’s estimates and assumptions required increased judgment and carry a higher degree of variability and volatility. As events continue to evolve and additional information becomes available, the Company’s estimates may change in future periods. Besides reducing demand for cargo, coronavirus may functionally limit the amount of cargo that the Company and its competitors are able to move because countries worldwide have imposed quarantine checks on arriving vessels, which have caused delays in loading and delivery of cargoes. The pandemic had a negative impact on the Company’s voyage revenues for the year ended December 31, 2020, which reached $11,753 compared to $15,623 for the same period in 2019. The decrease in voyage revenues is attributed to the low freight rates achieved during 2020 due to the outbreak of COVID-19 virus. The Company has evaluated the impact of the current economic situation on the recoverability of the carrying amount of its vessels. During the first quarter of 2020, the Company concluded that events and circumstances triggered the existence of potential impairment of its vessels. These indicators included volatility in the charter market as well as the potential impact the current marketplace may have on the future operations. As a result, the Company performed an impairment assessment of the Company’s vessels by comparing the discounted projected net operating cash flows for each vessel to its carrying values. For the first quarter of 2020, the Company concluded that the recoverable amounts of the vessels were lower than their carrying amounts and an impairment loss of $4,615 was recorded (Note 5). Subsequently, the Company has re-assessed impairment indicators and performed an impairment test on the recoverability of the carrying amount of its vessels as of December 31, 2020 using discounted projected net operating cash flows for each vessel and concluded that no further impairment of its vessels should be recorded or previously recognized impairment should be reversed. Statement of Compliance: These consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). Basis of Consolidation: The consolidated financial statements comprise the financial statements of Globus and its subsidiaries listed in note 1. The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. All inter-company balances and transactions have been eliminated upon consolidation. Subsidiaries are fully consolidated from the date on which control is transferred to the Company and cease to be consolidated from the date on which control is transferred out of the Company. Standards amendments and interpretations: The accounting policies adopted are consistent with those of previous financial year except for the following amended IFRS which have been adopted by the Company as of January 1, 2020: • Conceptual Framework in IFRS standards The IASB issued the revised Conceptual Framework for Financial Reporting on March 29, 2018. The Conceptual Framework sets out a comprehensive set of concepts for financial reporting, standard setting, guidance for preparers in developing consistent accounting policies and assistance to others in their efforts to understand and interpret the standards. IASB also issued a separate accompanying document, Amendments to References to the Conceptual Framework in IFRS Standards, which sets out the amendments to affected standards in order to update references to the revised Conceptual Framework. Its objective is to support transition to the revised Conceptual Framework for companies that develop accounting policies using the Conceptual Framework when no IFRS Standard applies to a particular transaction. For preparers who develop accounting policies based on the Conceptual Framework, it is effective for annual periods beginning on or after 1 January 2020. • IFRS 3: Business Combinations (Amendments) The IASB issued amendments in Definition of a Business (Amendments to IFRS 3) aimed at resolving the difficulties that arise when an entity determines whether it has acquired a business or a group of assets. The Amendments are effective for business combinations for which the acquisition date is in the first annual reporting period beginning on or after January 1, 2020 and to asset acquisitions that occur on or after the beginning of that period, with earlier application permitted. Management has assessed that this amendment had no impact on the Company’s financial position or performance as there were no business combinations during the year ended December 31, 2020. • IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors: Definition of ‘material’ (Amendments) The Amendments clarify the definition of material and how it should be applied. The new definition states that, “Information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity”. In addition, the explanations accompanying the definition have been improved. The Amendments also ensure that the definition of material is consistent across all IFRS Standards. Management has assessed that this amendment had no impact on the Company’s financial position or performance. • Interest Rate Benchmark Reform - IFRS 9, IAS 39 and IFRS 7 (Amendments) In September 2019, the IASB issued amendments to IFRS 9, IAS 39 and IFRS 7, which concludes phase one of its work to respond to the effects of Interbank Offered Rates (IBOR) reform on financial reporting. The amendments published, deal with issues affecting financial reporting in the period before the replacement of an existing interest rate benchmark with an alternative interest rate and address the implications for specific hedge accounting requirements in IFRS 9 Financial Instruments and IAS 39 Financial Instruments: Recognition and Measurement, which require forward-looking analysis. The amendments provide temporary reliefs, applicable to all hedging relationships that are directly affected by the interest rate benchmark reform, which enable hedge accounting to continue during the period of uncertainty before the replacement of an existing interest rate benchmark with an alternative nearly risk-free interest rate. There are also amendments to IFRS 7 Financial Instruments: Disclosures regarding additional disclosures around uncertainty arising from the interest rate benchmark reform. The amendments are effective for annual periods beginning on or after January 1, 2020 and must be applied retrospectively. Phase two (ED) focuses on issues that could affect financial reporting when an existing interest rate benchmark is replaced with a risk-free interest rate (an RFR). Management has assessed that this amendment had no impact on the Company’s financial position or performance. Standards issued but not yet effective and not early adopted: • Amendment in IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture The amendments address an acknowledged inconsistency between the requirements in IFRS 10 and those in IAS 28, in dealing with the sale or contribution of assets between an investor and its associate or joint venture. The main consequence of the amendments is that a full gain or loss is recognized when a transaction involves a business (whether it is housed in a subsidiary or not). A partial gain or loss is recognized when a transaction involves assets that do not constitute a business, even if these assets are housed in a subsidiary. In December 2015 the IASB postponed the effective date of this amendment indefinitely pending the outcome of its research project on the equity method of accounting. Management has assessed that this amendment will have no impact on the Company’s financial position or performance. • IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current (Amendments) The amendments are effective for annual reporting periods beginning on or after January 1, 2022 with earlier application permitted. However, in response to the covid-19 pandemic, the Board has deferred the effective date by one year, i.e. January 1, 2023, to provide companies with more time to implement any classification changes resulting from the amendments. The amendments aim to promote consistency in applying the requirements by helping companies determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current or non-current. The amendments affect the presentation of liabilities in the statement of financial position and do not change existing requirements around measurement or timing of recognition of any asset, liability, income or expenses, nor the information that entities disclose about those items. Also, the amendments clarify the classification requirements for debt which may be settled by the company issuing own equity instruments. Management has assessed that these amendments will have no impact on the Company’s financial position or performance. • IFRS 3 Business Combinations; IAS 16 Property, Plant and Equipment; IAS 37 Provisions, Contingent Liabilities and Contingent Assets as well as Annual Improvements 2018-2020 (Amendments) The amendments are effective for annual periods beginning on or after January 1, 2022, with earlier application permitted. The IASB has issued narrow-scope amendments to the IFRS Standards as follows: IFRS 3 Business Combinations (Amendments) update a reference in IFRS 3 to the Conceptual Framework for Financial Reporting without changing the accounting requirements for business combinations. IAS 16 Property, Plant and Equipment (Amendments) prohibit a company from deducting from the cost of property, plant and equipment amounts received from selling items produced while the company is preparing the asset for its intended use. Instead, a company will recognize such sales proceeds and related cost in profit or loss. IAS 37 Provisions, Contingent Liabilities and Contingent Assets (Amendments) specify which costs a company includes in determining the cost of fulfilling a contract for the purpose of assessing whether a contract is onerous. Annual Improvements 2018-2020 make minor amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards, IFRS 9 Financial Instruments, IAS 41 Agriculture and the Illustrative Examples accompanying IFRS 16 Leases. Management has assessed that these amendments will have no impact on the Company’s financial position or performance. • IFRS 16 Leases-Cοvid 19 Related Rent Concessions (Amendment) The amendment applies, retrospectively, to annual reporting periods beginning on or after June 1, 2020. Earlier application is permitted, including in financial statements not yet authorized for issue at May 28, 2020. IASB amended the standard to provide relief to lessees from applying IFRS 16 guidance on lease modification accounting for rent concessions arising as a direct consequence of the covid-19 pandemic. The amendment provides a practical expedient for the lessee to account for any change in lease payments resulting from the covid-19 related rent concession the same way it would account for the change under IFRS 16, if the change was not a lease modification, only if all of the following conditions are met: The change in lease payments results in revised consideration for the lease that is substantially the same as, or less than, the consideration for the lease immediately preceding the change. Any reduction in lease payments affects only payments originally due on or before June 30, 2021. There is no substantive change to other terms and conditions of the lease. Management has assessed that these amendments will have no impact on the Company’s financial position or performance. • Interest Rate Benchmark Reform – Phase 2 – IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 (Amendments) In August 2020, the IASB published Interest Rate Benchmark Reform – Phase 2, Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, completing its work in response to IBOR reform. The amendments provide temporary reliefs which address the financial reporting effects when an interbank offered rate (IBOR) is replaced with an alternative nearly risk-free interest rate (RFR). In particular, the amendments provide for a practical expedient when accounting for changes in the basis for determining the contractual cash flows of financial assets and liabilities, to require the effective interest rate to be adjusted, equivalent to a movement in a market rate of interest. Also, the amendments introduce reliefs from discontinuing hedge relationships including a temporary relief from having to meet the separately identifiable requirement when an RFR instrument is designated as a hedge of a risk component. Furthermore, the amendments to IFRS 4 are designed to allow insurers who are still applying IAS 39 to obtain the same reliefs as those provided by the amendments made to IFRS 9. There are also amendments to IFRS 7 Financial Instruments: Disclosures to enable users of financial statements to understand the effect of interest rate benchmark reform on an entity’s financial instruments and risk management strategy. The amendments are effective for annual periods beginning on or after January 1, 2021, with earlier application permitted. While application is retrospective, an entity is not required to restate prior periods. Management has assessed that these amendments will have no impact on the Company’s financial position or performance. 2.3 Significant accounting policies, judgments, estimates and assumptions: The preparation of consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the amounts of revenues and expenses recognised during the reporting period. However, uncertainty about these assumptions and estimates could result in outcomes that could require a material adjustment to the carrying amount of the asset or liability affected in the future. Judgments: In the process of applying the Company’s accounting policies, management has made the following judgments that had a significant effect on the amounts recognised in the consolidated financial statements. Allowance for doubtful trade accounts receivable: The Company measures allowance for all trade accounts receivable under the simplified model using the lifetime expected credit loss (“ECL”) approach. When estimating ECLs, the Company considers reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic conditions. Provisions for doubtful trade accounts receivable as of December 31, 2020 and 2019, were nil and $23, respectively. Estimates and assumptions: The key assumptions concerning the future and other key sources of estimation uncertainty at the financial position date, that have a significant risk of causing a significant adjustment to the carrying amount of assets and liabilities within the next financial year, are discussed below. The Company based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the assumptions when they occur. Carrying amount of vessels, net : Vessels are stated at cost, less accumulated depreciation (including depreciation of dry-docking costs and the amortization of the component attributable to favourable or unfavourable lease terms relative to market terms) and accumulated impairment losses. The estimates and assumptions that have the most significant effect on the vessels carrying amount are estimations in relation to useful lives of vessels, their residual value and estimated dry docking dates. The key assumptions used are further explained in notes 2.9 to 2.13. Impairment of Non-Financial Assets : The Company’s impairment test for non-financial assets is based on the assets’ recoverable amount, where the recoverable amount is the greater of fair value less costs to sell and value in use. The Company engaged independent valuation specialists to determine the fair value of non-financial assets as at December 31, 2020 and 2019. The value in use calculation is based on a discounted cash flow model. The value in use calculation is most sensitive to the discount rate used for the discounted cash flow model as well as the expected net cash flows. See notes 2.13 and 5. Share based payments : The Company measures the cost of equity-settled transactions with employees by reference to the fair value of the equity instruments at the date at which they are granted. Estimating fair value for share-based payment transactions may require determination of the most appropriate valuation model, which is depended on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model including, expected volatility and dividend yield and making assumptions about them. The assumptions and models used for estimating fair value for share-based payment transactions are disclosed in note 12. 2.4 Accounting for revenue and related expenses: The Company generates its revenues from charterers for the charter hire of its vessels. Vessels are chartered using time charters and bareboat, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily charter hire rate. If a time charter agreement exists and collection of the related revenue is reasonably assured, revenue is recognised on a straight-line basis over the period of the time charter. Such revenues are treated in accordance with IFRS 16 and the Company is required to disclose lease and non-lease components of lease revenue. Associated voyage expenses are recognised on a pro-rata basis over the duration of the period of the time charter. Deferred revenue relates to cash received prior to the financial position date and is related to revenue earned after such date. Interest income : interest income is recognised as interest on an accrual basis. Voyage expenses : Voyage expenses primarily consisting of port, canal and bunker expenses that are unique to a particular charter under time charter arrangements are paid by the charterer. Furthermore, voyage expenses include brokerage commission on revenue which is paid by the Company. Voyage expenses are accounted for on an accrual basis. Under a bareboat charter, the charterer assumes responsibility for all voyage expenses and risk of operation. Vessel operating expenses: Vessel operating costs include crew costs, provisions, deck and engine stores, lubricating oil, insurance, maintenance and repairs. Under bareboat charter arrangements, these expenses are paid by the charterer and by the Company under time charter and voyage charter arrangements. Vessel operating expenses are accounted for on an accrual basis. Under a bareboat charter, the charterer assumes responsibility for all vessel operating expenses and risk of operation. 2.5 Foreign currency translation: The functional currency of Globus and its subsidiaries is the U.S. dollar, which is also the presentation currency of the Company, since the Company’s vessels operate in international shipping markets, whereby the U.S. dollar is the currency used for transactions. Transactions involving other currencies during the period are converted into U.S. dollars using the exchange rates in effect at the time of the transactions. At the financial position dates, monetary assets and liabilities, which are denominated in currencies other than the U.S. dollar, are translated into the functional currency using the period-end exchange rate. Gains or losses resulting from foreign currency transactions are included in foreign exchange gains/(losses), net in the consolidated statement of comprehensive loss. 2.6 Cash and cash equivalents: The Company considers highly liquid investments such as time deposits and certificates of deposit with original maturity of three months or less to be cash and cash equivalents. 2.7 Trade accounts receivable, net : The amount shown as trade accounts receivable at each financial position date includes estimated recoveries from charterers for hire, net of an allowance for doubtful accounts. Trade accounts receivable without a significant financing component are initially measured at their transaction price and subsequently measured at amortized cost less impairment losses, which are recognized in the consolidated statement of comprehensive loss. At each financial position date, all potentially uncollectible accounts are assessed individually for the purpose of determining the appropriate allowance for doubtful accounts. The provision for doubtful accounts at December 31, 2020 was nil (2019: $23). 2.8 Inventories: Inventories consist of lubricants, bunkers and gas cylinders and are stated at the lower of cost and net realisable value. The cost is determined by the first-in, first-out method. 2.9 Vessels, net: Vessels are stated at cost, less accumulated depreciation (including depreciation of dry-docking costs and amortization of components attributable to favourable or unfavourable lease terms relative to market terms) and accumulated impairment losses. Vessel cost consists of the contract price for the vessel and any material expenses incurred upon acquisition (initial repairs, improvements and delivery expenses, interest, commissions paid and on-site supervision costs incurred during the construction periods). Subsequent expenditures for conversions and major improvements are also capitalised when the recognition criteria are met. Otherwise these amounts are charged to expenses as incurred. 2.10 Deferred dry-docking costs: Vessels are required to be dry-docked for major repairs and maintenance that cannot be performed while the vessels are operating. Dry-dockings occur approximately every 2.5 years. The costs associated with the dry-dockings are capitalised and depreciated on a straight-line basis over the period between dry-dockings, to a maximum of 2.5 years. At the date of acquisition of a vessel, management estimates the component of the cost that corresponds to the economic benefit to be derived until the first scheduled dry-docking of the vessel under the ownership of the Company and this component is depreciated on a straight-line basis over the remaining period through the estimated dry-docking date. 2.11 Depreciation: The cost of each of the Company’s vessels is depreciated on a straight-line basis over each vessel’s remaining useful economic life, after considering the estimated residual value of each vessel, beginning when the vessel is ready for its intended use. Management estimates that the useful life of new vessels is 25 years, which is consistent with industry practice. The residual value of a vessel is the product of its lightweight tonnage and estimated scrap value per lightweight ton. The residual values and useful lives are reviewed at each reporting date and adjusted prospectively. During the first quarter of 2018, the Company adjusted the scrap rate from $250/ton to $300/ton due to the increased scrap rates worldwide. This resulted to a decrease of $178 to the depreciation charge included in the consolidated statement of comprehensive loss for 2018. During 2019 and 2020 the Company maintained the same scrap rate. 2.12 Amortization of lease component: When the Company acquires a vessel subject to an operating lease; it amortizes the amount reflected in the cost of that vessel that is attributable to favourable or unfavourable lease terms relevant to market terms, over the remaining term of the lease . The amortization is included in the line “amortization of fair value of time charter attached to vessels” in the income statement component of the consolidated statement of comprehensive loss. 2.13 Impairment of non-financial assets: The Company assesses at each reporting date whether there is an indication that a vessel may be impaired. The vessel’s recoverable amount is estimated when events or changes in circumstances indicate the carrying value may not be recoverable. If such indication exists and where the carrying value exceeds the estimated recoverable amounts, the vessel is written down to its recoverable amount. The recoverable amount is the greater of fair value less costs to sell and value-in-use. In assessing value-in-use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the vessel. Impairment losses are recognised in the consolidated statement of comprehensive loss. A previously recognised impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognised. If that is the case, the carrying amount of the asset is increased to its recoverable amount. That increased amount cannot exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognised for the asset in prior years. Such reversal is recognised in the consolidated statement of comprehensive loss. After such a reversal, the depreciation charge is adjusted in future periods to allocate the asset’s revised carrying amount, less any residual value, on a systematic basis over its remaining useful life (refer to note 5). 2.14 Long-term debt: Long-term debt is initially recognised at the fair value of the consideration received net of financing costs directly attributable to the borrowing. After initial recognition, long-term debt is subsequently measured at amortized cost using the effective interest rate method. Amortized cost is calculated by taking into account any financing costs and any discount or premium on settlement. Gains and losses are recognised in the income statement component of the consolidated statement of comprehensive loss when the liabilities are derecognised or impaired, as well as through the amortization process. 2.15 Financing costs: Fees incurred for obtaining new loans or refinancing existing loans are deferred and amortized over the life of the related debt, using the effective interest rate method. Any unamortized balance of costs relating to loans repaid or refinanced is expensed in the period the repayment or refinancing is made. For the year ended December 31, 2020, the Company did not incur any financing costs. For the year ended December 31, 2019, the Company deferred financing costs of $880, which relate to the costs incurred for the loan agreement with EnTrust Global’s Blue Ocean Fund (see Note 11 for more details). For the year ended December 31, 2018, the Company deferred financing costs of $253, which relates to the costs incurred for the loan agreement with Macquarie Bank International Limited (see Note 11 for more details). 2.16 Borrowing costs: Borrowing costs consist of interest and other costs that the Company incurs in connection with the borrowing of funds. Borrowing costs are expensed to the income statement component of the consolidated statement of comprehensive loss as incurred under “interest expense and finance costs” except borrowing costs that relate to a qualifying asset. A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use. Borrowing costs that relate to qualifying assets are capitalised. 2.17 Operating segment: The Company reports financial information and evaluates its operations by charter revenues and not by other factors such as length of ship employment for its customers i.e., spot or time charters or type of vessel. The Company does not use discrete financial information to evaluate the operating results for each such type of charter. Although revenue can be identified for these types of charters, management cannot and does not identify expenses, profitability or other financial information for these charters. As a result, management, including the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet and thus the Company has determined that it operates as one operating segment. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographical information is impracticable. 2.18 Provisions and contingencies: Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events, it is probable that an

Cash and cash equivalents And R

Cash and cash equivalents And Restricted cash	12 Months Ended
	Dec. 31, 2020
Cash and cash equivalents [abstract]
Cash and cash equivalents and Restricted cash	3. Cash and cash equivalents and Restricted cash For the purpose of the consolidated statement of financial position, cash and cash equivalents comprise the following: December 31, 2020 2019 Cash on hand 13 10 Cash at banks 19,024 2,356 Total 19,037 2,366 Cash held in banks earns interest at floating rates based on daily bank deposit rates. The fair value of cash and cash equivalents as at December 31, 2020 and 2019, was $19,037 and $2,366, respectively. In addition, as of December 31, 2020, the Company had available $14,200 (2019: $11,100) of undrawn borrowing facilities (note 11). As at December 31, 2020, the Company had pledged an amount of $2,066, in order to fulfil collateral requirements. The fair value of the restricted cash as at December 31, 2020, was $2,066, $1,250 included in non-current assets and $816 included in current assets ($1,250 included in non-current assets and $1,185 included in current assets as at December 31, 2019). The cash and cash equivalents are held with reputable bank and financial institution counterparties with high ratings.

Transactions With Related Parti

Transactions With Related Parties	12 Months Ended
	Dec. 31, 2020
Disclosure of transactions between related parties [abstract]
Transactions with Related Parties	4. Transactions with Related Parties The following are the major transactions which the Company has entered into with related parties during the years ended December 31, 2020, 2019 and 2018: In August 2006, Globus entered into a rental agreement for 350 square metres of office space for its operations within a building owned by Cyberonica S.A. (an affiliate of Globus’s chairman). In 2016 the Company renewed the rental agreement at a monthly rate of Euro 10,360 (absolute amount) ($11.9) with a lease period ending January 2, 2025. The Company does not presently own any real estate. During the years ended December 31, 2020, 2019 and 2018, the rent charged amounted to $141, $139 and $147, respectively. The rental expense for the year ended December 31, 2018 was recognised under administrative expenses payable to related parties in the respective income statement component of the consolidated statement of comprehensive loss. As of January 1, 2019, following the adoption of IFRS 16, the Company identified the rental agreement with Cyberonica S.A. to give rise to a right of use asset and a corresponding liability estimated to approximately $674 (please refer to note 2.22). The depreciation charge for right-of-use asset for the years ended December 31, 2020 and 2019, was approximately $112 for both years and was recognised in the income statement component of the consolidated statement of comprehensive loss under depreciation. The interest expense on lease liabilities for the years ended December 31, 2020 and 2019, was approximately $44 and $51, respectively, and recognised under interest expense and finance costs, respectively in the income statement component of the consolidated statement of comprehensive loss. As of December 28, 2015, Athanasios Feidakis assumed the position of Chief Executive Officer (“CEO”) and Chief Financial Officer. On August 18, 2016, the Company entered into a consultancy agreement with an affiliated company (Goldenmare Limited) of its CEO, Mr. Athanasios Feidakis, for the purpose of providing consulting services to the Company in connection with the Company’s international shipping and capital raising activities, including but not limited to assisting and advising the Company’s CEO at an annual fee of Euro 200,000 (absolute amount) (approx. $224). On December 3, 2020, the Company agreed to increase the consultancy fees of Goldenmare Limited, from Euro 200,000 to Euro 400,000 (absolute amount) per annum and additionally pay a one-time cash bonus of $1.5 million (absolute amount) to the CEO pursuant to his consultancy agreement. The timing of the payment of the one-time bonus remains at the discretion of the Company. In February 2021 the Company paid the $1.0 million (absolute amount) of the $1.5 million (absolute amount) to Goldenmare Limited. The related expense for the years ended December 31, 2020, 2019 and 2018, amounted to approx. $1,772, $224 and $235, respectively. On June 12, 2020, the Company entered into a stock purchase agreement and issued 50 newly-designated Series B Preferred Shares, par value $0.001 per share, to Goldenmare Limited, an affiliated company of its CEO, Athanasios Feidakis, in return for $150, which amount was settled by reducing, on a dollar for dollar basis, the amount payable by the Company to Goldenmare Limited pursuant to a consultancy agreement. On July 27, 2020, the Company issued an additional 250 of its Series B preferred shares to Goldenmare Limited in return for $150. The $150 was settled by reducing, on a dollar for dollar basis, the amount payable by the Company to Goldenmare Limited pursuant to a consultancy agreement. The issuance of the Series B preferred shares to Goldenmare Limited were approved by an independent committee of the Company’s Board of Directors, which received fairness opinions from an independent financial advisor. As of December 31, 2020, Goldenmare Limited owns 300 of the Company’s Series B preferred shares. Each Series B preferred share has 25,000 votes, provided that no holder of Series B preferred shares may exercise voting rights pursuant to Series B preferred shares that would result in the aggregate voting power of the beneficial owner of any such holder of Series B preferred shares, together with its affiliates, exceeding 49.99% of the total number of votes eligible to be cast on any matter submitted to a vote of shareholders. Except as otherwise provided by applicable law, holders of the Company’s Series B preferred shares and the Company’s common shares vote together as a single class on all matters submitted to a vote of shareholders, including the election of directors. Athanasios Feidakis has substantial control of the Company’s voting rights and influence over the Company’s management and affairs and over matters requiring shareholder approval, including the election of directors and significant corporate transactions, through his ability to direct the vote of such Series B preferred shares. As at December 31, 2019 and 2020, Mr. George Feidakis beneficially owned 24% and 0.4%, respectively of Globus’ shares. Mr. George Feidakis (father of Mr. Athanasios Feidakis) is also the chairman of the Board of Directors of Globus. In November 2018, Globus entered into a credit facility for up to $15,000 with Firment Shipping Inc., an affiliate of the Company’s chairman, for the purpose of financing its general working capital needs (“Firment Shipping Credit Facility”). The Firment Shipping Credit Facility is unsecured and remains available until its final maturity date at April 1, 2021, as amended (Note 22). The Company has the right to draw-down any amount up to $15,000 or prepay any amount in multiples of $100. Any prepaid amount could be re-borrowed in accordance with the terms of the facility. Interest on drawn and outstanding amounts is charged at 7% per annum and no commitment fee is charged on the amounts remaining available and undrawn. Interest is payable the last day of a period of three months after the Draw-down Date, after this period in case of failure to pay any sum due, a default interest of 2% per annum above the regular interest is charged. Globus also has the right, in its sole option, to convert in whole or in part the outstanding unpaid principal amount and accrued but unpaid interest under the Firment Shipping Credit Facility into common stock. The conversion price shall equal the higher of (i) the average of the daily dollar volume-weighted average sale price for the common stock on the principal market on any trading day during the period beginning at 9.30 a.m. New York City time and ending at 4.00 p.m. (“VWAP”) over the pricing period multiplied by 80%, where the “Pricing Period” equals the ten consecutive trading days immediately preceding the date on which the conversion notice was executed or, (ii) Two Hundred Eighty US Dollars ($280.00). On April 23, 2019, the Company converted to share capital, as per the conversion clause included in the Firment Shipping Credit Facility the outstanding principal amount of $3,100 plus the accrued interest of $70 at a conversion price of $280 per share and issued 11,322 new common shares to Firment Shipping Inc. This conversion resulted to a gain of approximately $117, which was classified under “gain on derivative financial instruments” in the income statement component of the consolidated statement of comprehensive loss. For the year ended December 31, 2020, the Company recognized a loss on this derivative financial instrument amounting to $189 and for the year ended December 31, 2019, a gain on this derivative financial instrument amounting to $135, which were classified under “gain/(loss) on derivative financial instruments” in the income statements component of the consolidated statement of comprehensive loss. On July 27, 2020, the Company repaid the total outstanding principal and interest of the Firment Shipping Credit Facility amounting to $863. Furthermore, the Company recognized a gain on this derivative financial instrument amounting to $220, which was classified under “gain/(loss) on derivative financial instruments” in the income statement component of the consolidated statement of comprehensive loss. As of December 31, 2020 and 2019, the amount drawn and outstanding with respect to the Firment Shipping Credit Facility was $nil and $800, respectively and was classified under long-term borrowings, net of the current portion and the fair value of the derivative component in the consolidated statement of financial position (see Note 11). For the year ended December 31, 2020 and 2019, Globus recognised interest expense of $26 and $96, respectively classified in the income statement component of the consolidated statements of comprehensive loss under interest expense and finance costs. On May 8, 2020 the Company entered into an Amended and Restated Agreement with Firment Shipping Inc. and converted the existing Revolving Credit Facility to a Term Credit Facility, increased the available undrawn amount to $14.2 million and extended the maturity date to October 31, 2021. As of December 31, 2020, and 2019, there was an amount of $14,200 and $11,100, respectively, available to be drawn under the Firment Shipping Credit Facility. The Firment Shipping Credit Facility requires that Athanasios Feidakis remain the Company’s Chief Executive Officer and that Firment Shipping Inc. maintains at least a 40% shareholding in Globus, other than due to actions taken by Firment Shipping Inc., such as sales of shares. The Company received waivers from Firment in relation to the equity offerings completed during the year ended December 31, 2020 (Note 11). As of December 31, 2020, and 2019, the Company was in compliance with the loan covenants of the Firment Shipping Credit Facility. Compensation of Key Management Personnel of the Company: Compensation to Globus non-executive directors is analysed as follows: For the year ended December 31, 2020 2019 2018 Directors’ remuneration 143 147 145 Share-based payments 40 40 40 Total 183 187 185 As of December 31, 2020, and 2019, $80 and $318 of the compensation to non-executive directors was remaining due and unpaid, respectively. Amounts payable to non-executive directors are classified as trade accounts payable in the consolidated statements of financial position. Compensation to the Company’s executive director is analysed as follows: For the year ended December 31, 2020 2019 2018 Short-term employee benefits 1,772 224 235 Total 1,772 224 235 As of December 31, 2020, and 2019, $1,739 and $556 of the compensation to the executive director was remaining due and unpaid, respectively.

Vessels, net

Vessels, net	12 Months Ended
	Dec. 31, 2020
Vessels, net [Abstract]
Vessels, net	5. Vessels, net The amounts in the consolidated statement of financial position are analysed as follows: Vessels cost Vessels accumulated depreciation Dry docking costs Accumulated depreciation of dry-docking costs Net Book Value Balance at January 1, 2018 179,401 (92,702 ) 4,830 (4,209 ) 87,320 Additions/ Dry Docking Component 26 - 2,148 - 2,174 Depreciation expense - (4,578 ) - (1,166 ) (5,744 ) Balance at December 31, 2018 179,427 (97,280 ) 6,978 (5,375 ) 83,750 Additions/ Dry Docking Component 54 - 622 - 676 Impairment loss (29,902 ) - - - (29,902 ) Depreciation expense - (4,578 ) - (1,704 ) (6,282 ) Balance at December 31, 2019 149,579 (101,858 ) 7,600 (7,079 ) 48,242 Additions/ Dry Docking Component 18,028 - 4,283 - 22,311 Impairment loss (4,615 ) - - - (4,615 ) Depreciation expense - (2,253 ) - (1,335 ) (3,588 ) Balance at December 31, 2020 162,992 (104,111 ) 11,883 (8,414 ) 62,350 On October 29, 2020, the Company took delivery of the m/v “Galaxy Globe”, a 2015-built Kamsarmax dry bulk carrier, through its subsidiary, Serena Maritime Limited, for a purchase price of $18.4 million, free of charter party, financed with available cash. The m/v “Galaxy Globe” was built at the Hudong-Zhonghua Shipyard in China and has a carrying capacity of 81,167 dwt. Following this acquisition, the fleet of Globus comprises of six dry bulk carriers with a total carrying capacity of 381,738 dwt. Upon the acquisition of the vessel, a total amount of $500 was recorded as dry-docking component and will be amortized until the vessel’s next scheduled survey to be performed in July 2023. For the purpose of the consolidated statement of comprehensive loss, depreciation, as stated in the income statement component, comprises the following: For the year ended December 31, 2020 2019 2018 Vessels depreciation 2,253 4,578 4,578 Depreciation on office furniture and equipment 33 31 23 Depreciation of right of use asset 112 112 - Total 2,398 4,721 4,601 The Company’s vessels, except the m/v Galaxy Globe, have been pledged as collateral to secure the bank loans discussed in note 11. Impairment of non-financial assets: The Company performed an impairment exercise as of March 31, 2020 on whether there were indicators that a vessel(s) may be impaired and concluded that impairment indicators existed for all vessels. As of December 31, 2020, the Company performed an assessment on whether there were indicators that a vessel(s) may be impaired and impairment indicators were identified for two of the Company’s vessels. As impairment indicators were identified during 2020, discounted future cash flows for each vessel with impairment indicators were determined and compared to the vessel’s carrying value. For the discount factor, the Company applied the Weighted Average Cost of Capital rate that was calculated to be 4.06% as at December 31, 2020. The projected net discounted future cash flows for the first year were determined by considering an estimated daily time charter equivalent based on the most recent blended (for modern and older vessels) FFA (i.e. Forward Freight Agreements) time charter rate for the fiscal year 2021 for each type of vessel. For the remaining useful life of the vessels, the Company used the historical ten-year blended average one-year time charter rates substituting for the year 2016 that was considered as extreme values, with the year 2010. Expected outflows for scheduled vessels maintenance were taken into consideration as well as vessel operating expenses assuming an average annual increase rate of 1% based on the historical trend derived from actual results for the Company’s vessels since their delivery under the Company’s technical management. The average time charter rates used were in line with the overall chartering strategy, especially in periods/years of depressed charter rates; reflecting the full operating history of vessels of the same type and particulars with the Company’s operating fleet (Supramax and Panamax vessels with a deadweight (“dwt”) of over 50,000 and 70,000, respectively) and they covered at least one full business cycle. Effective fleet utilization was assumed at 87% and 90% (including ballast days) for the Supramaxes and the Panamaxes, respectively taking into account the period(s) each vessel is expected to undergo her scheduled maintenance (dry-docking and special surveys), as well as an estimate of the period(s) needed for finding suitable employment and off-hire for reasons other than scheduled maintenance, assumptions in line with the Company’s expectations for future fleet utilization under the current fleet deployment strategy. As of March 31, 2020, the Company concluded that the recoverable amounts of the vessels were lower than their carrying amounts and recognized an impairment loss of $4,615. As of December 31, 2020, the Company concluded that the recoverable amounts of the vessels were higher than their carrying amounts and concluded that no additional impairment loss should be recognized. As of December 31, 2019, the Company concluded that the recoverable amounts of the vessels were lower than their carrying amounts and recognized an impairment loss of $29,902. As of December 31, 2018, no impairment loss was recognized as the vessels’ recoverable amounts exceeded their carrying amounts. The impairment loss for the years ended December 31, 2020 and 2019, analysed by vessel is as follows: For the year ended December 31, Vessel 2020 2019 m/v River Globe (332 ) (6,920 ) m/v Sky Globe (1,231 ) (8,074 ) m/v Star Globe (460 ) (7,197 ) m/v Sun Globe (2,013 ) (4,797 ) m/v Moon Globe (579 ) (2,914 ) Impairment loss (4,615 ) (29,902 ) As of December 31, 2019, the recoverable amount for each vessel was as follows: December 31, Vessels 2019 Recoverable amount m/v River Globe 7,752 At fair value less costs of disposal m/v Sky Globe 8,971 At fair value less costs of disposal m/v Star Globe 9,458 At fair value less costs of disposal m/v Sun Globe 11,165 At fair value less costs of disposal m/v Moon Globe 10,896 At value in use Total: 48,242

Inventories

Inventories	12 Months Ended
	Dec. 31, 2020
Inventories [Abstract]
Inventories	6. Inventories Inventories in the consolidated statement of financial position are analysed as follows: December 31, 2020 2019 Lubricants 319 295 Gas cylinders 75 79 Bunkers 854 1,171 Total 1,248 1,545

Trade Accounts Payable

Trade Accounts Payable	12 Months Ended
	Dec. 31, 2020
Trade accounts payable [Abstract]
Trade accounts payable	7. Trade accounts payable Trade accounts payable in the consolidated statement of financial position as at December 31, 2020 and 2019, amounted to $4,758 and $4,735, respectively. Trade accounts payable are non-interest bearing.

Accrued Liabilities And Other P

Accrued Liabilities And Other Payables	12 Months Ended
	Dec. 31, 2020
Accrued liabilities and other payables [Abstract]
Accrued liabilities and other payables	8. Accrued liabilities and other payables Accrued liabilities and other payables in the consolidated statement of financial position are analysed as follows: December 31, 2020 2019 Accrued interest - 307 Accrued audit fees 63 56 Other accruals 1,953 1,435 Insurance deductibles 96 132 Other payables 47 41 Total 2,159 1,971 Loan Interest is normally settled quarterly throughout the year. Other payables are non-interest bearing.

Share Capital And Share Premium

Share Capital And Share Premium	12 Months Ended
	Dec. 31, 2020
Disclosure of classes of share capital [abstract]
Share Capital and Share Premium	9. Share Capital and Share Premium The authorised share capital of Globus consisted of the following: December 31, 2020 2019 2018 Authorised share capital: 500,000,000 Common shares of par value $0.004 each 2,000 2,000 2,000 100,000,000 Class B Common shares of par value $0.001 each 100 100 100 100,000,000 Preferred shares of par value $0.001 each 100 100 100 Total authorised share capital 2,200 2,200 2,200 Holders of the Company’s common shares and Class B shares have equivalent economic rights, but holders of Company’s common shares are entitled to one vote per share and holders of the Company’s Class B shares are entitled to twenty votes per share. Each holder of Class B shares may convert, at its option, any or all of the Class B shares held by such holder into an equal number of common shares. Common Shares issued and fully paid Number of shares USD As at January 1, 2018 31,594 - Issued during the year for share based compensation (note 12) 88 - Issuance of common stock due to exercise of warrants 375 - As at December 31, 2018 32,057 - Issued during the year for share based compensation (note 12) 180 - Issuance of common stock due to conversion of loan 19,998 - As at December 31, 2019 52,235 - Issued during the year for share based compensation (note 12) 2,812 - Issuance of common stock due to conversion of loan 11,678 - Issuance of new common stocks 2,942,848 12 Issuance of common stock due to exercise of pre-funded warrants 25,000 - Issuance of common stock due to exercise of warrants 5,550 - As at December 31, 2020 3,040,123 12 On February 8, 2017, the Company entered into a Share and Warrant Purchase Agreement (“February 2017 private placement”) pursuant to which it sold for $5,000, an aggregate of 500,000 of its common shares, par value $0.004 per share and warrants (the “February 2017 Warrants”) to purchase 25,000 of its common shares at a price of $1,600 per share to four investors in a private placement. One investor is the CEO’s sister and the daughter of its chairman. These securities were issued in transactions exempt from registration under the Securities Act. The following day, the Company entered into a registration rights agreement with those purchasers providing them with certain rights relating to registration under the Securities Act of the Shares and the common shares underlying the Warrants. In January 2018 one investor, other than Firment Shipping Inc. and Silaner Investments Limited, partially exercised its warrants, purchasing 375 of the Company’s common shares for aggregate gross proceeds to the Company of approximately $600. Each of the February 2017 Warrants were exercisable for 24 months after their respective issuance. On October 15, 2018, the Company effected a 1-10 reverse stock split which reduced number of outstanding common shares from 32,065,077 to 3,206,495 shares (adjustments were made based on fractional shares and these figures do not reflect the 1-100 reverse stock split which occurred in October 2020). On October 21, 2020, the Company effected a 1-100 reverse stock split which reduced the number of outstanding common shares from 175,675,651 to 1,756,720 shares (adjustments were made based on fractional shares). Unless otherwise noted, all historical share numbers and per share amounts, including common shares, preferred shares and warrants, have been adjusted to give effect to these reverse splits. During the years ended December 31, 2020, 2019 and 2018, Globus issued 2,812, 180 and 88 common shares, respectively (par value $0.004 per share) as share-based payments. As of December 31, 2020, 2019 and 2018, no Class B shares were outstanding. On June 12, 2020, the Company entered into a stock purchase agreement and issued 50 of newly-designated Series B Preferred Shares, par value $0.001 per share, to Goldenmare Limited, a company controlled by the Chief Executive Officer, Athanasios Feidakis, in return for $150, which amount was settled by reducing, on a dollar for dollar basis, the amount payable by the Company to Goldenmare Limited pursuant to a consultancy agreement. On July 27, 2020, the Company issued an additional 250 of its Series B preferred shares to Goldenmare Limited in return for $150. The $150 was settled by reducing, on a dollar for dollar basis, the amount payable by the Company to Goldenmare Limited pursuant to a consultancy agreement. The issuance of the Series B preferred shares to Goldenmare Limited was approved by an independent committee of the Company’s Board of Directors, which received fairness opinions from an independent financial advisor. On April 23, 2019, the outstanding principal amount of $3,100 plus the accrued interest of $70 outstanding under the Firment Shipping Inc. Credit Facility was converted to share capital at a conversion price of $280 per share and, accordingly, the Company issued 11,322 new common shares, par value $0.004 per share, to Firment Shipping Inc. During the year ended December 31, 2019, an amount of approximately $1,789, principal and accrued interest, under the senior convertible note (note 11) was converted to share capital and the Company issued 8,676 new common shares, par value $0.004 per share, to the holder of the senior convertible note. During the year ended December 31, 2020 and further to the conversion clause included into the Convertible Note (Note 11) an amount of approximately $1,168, principal and accrued interest, was converted to share capital at a conversion price of $100 per share and a total number of 11,678 new shares, par value $0.004 per share, were issued in name of the holder of the Convertible Note. On June 22, 2020, the Company issued 342,857 of its common shares, par value $0.004 per share, in an underwritten public offering at a price of $35 per unit. Each unit consisted of one common share and one Class A warrant to purchase one common share and immediately separated upon issuance. In addition, the Company granted to the underwriter a 45-day option to purchase up to an additional 51,429 common shares, par value $0.004 per share, (or pre-funded warrants in lieu thereof) and Class A warrants to purchase up to 51,429 common shares, at the public offering price less discounts and commissions. The underwriter exercised its option and purchased 51,393 common shares, par value $0.004 per share and Class A warrants to purchase 51,393 common shares. Each Class A warrant is immediately exercisable for one common share at an exercise price of $35 per share and expires five years from issuance. Total proceeds amounted to $12,695 before issuance expenses. As of December 31, 2020, the Company had issued 5,550 common shares, par value $0.004 per share, pursuant to exercise of outstanding Class A Warrants, resulting to cash proceeds of $194, and had 388,700 Class A Warrants outstanding to purchase an aggregate of 388,700 common shares, par value $0.004 per share. On June 30, 2020, the Company issued 458,500 of its common shares, par value $0.004 per share, in a registered direct offering and warrants (“PP Warrants”) to purchase 458,500 common shares in a concurrent private placement for a purchase price of $27 per common share and PP Warrant. The warrants were exercisable upon issuance and had an exercise price of $30 per share, subsequently reduced to $18 per share. Total proceeds amounted to $11,513 before issuance expenses. On July 21, 2020, the Company issued 833,333 of its common shares, par value $0.004 per share, in a registered direct offering and PP Warrants to purchase 833,333 common shares in a concurrent private placement for a purchase price of $18 per common share and PP Warrant. The exercise price of each PP Warrant was $18 per share. Concurrently with this offering the exercise price of the PP Warrants issued on June 30, 2020, were reduced to $18 per share. Total proceeds amounted to $13,950 before issuance expenses. The PP Warrants are exercisable for a period of five and one-half years commencing on the date of issuance. The warrants will be exercisable, at the option of each holder, in whole or in part by delivering to the Company a duly executed exercise notice with payment in full in immediately available funds for the number of common shares purchased upon such exercise. If a registration statement registering the resale of the common shares underlying the private placement warrants under the Securities Act is not effective or available at any time after the six month anniversary of the date of issuance of the private placement warrants, the holder may, in its sole discretion, elect to exercise the private placement warrant through a cashless exercise, in which case the holder would receive upon such exercise the net number of common shares determined according to the formula set forth in the warrant. If the Company does not issue the shares in a timely fashion, the warrant contains certain liquidated damages provisions. As of December 31, 2020, no PP Warrants had been exercised and the Company had 1,291,833 PP Warrants outstanding to purchase an aggregate of 1,291,833 common shares. On December 7, 2020, the Company entered into a securities purchase agreement with certain unaffiliated institutional investors to issue in a registered direct offering to issue (a) 1,256,765 of its common shares, par value $0.004 per share, (b) pre-funded warrants to purchase 155,000 common shares, par value $0.004 per share, (“December 2020 Pre-Funded Warrants”), and (c) warrants (“December Warrants”) to purchase 1,270,587 common shares with an exercise price of $8.50 per share. On December 9, 2020, the Company issued 1,256,765 of its common shares, par value $0.004 per share, pursuant to this agreement. Total proceeds amounted to $ 11,159 before issuance expenses. The December 2020 Pre-Funded Warrants are exercisable at any time after their original issuance until exercised in full. The Pre-Funded Warrants will be exercisable, at the option of each holder, in whole or in part by delivering to the Company a duly executed exercise notice with payment in full in immediately available funds for the number of common shares purchased upon such exercise. The exercise price for the Pre-Funded Warrants is $0.01 per share. The December 2020 Pre-Funded Warrants are exercisable at any time after their original issuance until exercised in full. As of December 31, 2020, 25,000 December 2020 Pre-Funded Warrants had been exercised, resulting to net proceeds of $0.25 and the Company had 130,000 December 2020 Pre-Funded Warrants outstanding to purchase an aggregate of 130,000 common shares. The December Warrants are exercisable for a period of five and one-half years commencing on the date of issuance. The warrants will be exercisable, at the option of each holder, in whole or in part by delivering to the Company a duly executed exercise notice with payment in full in immediately available funds for the number of common shares purchased upon such exercise. If a registration statement registering the issuance of the common shares underlying the warrants under the Securities Act is not effective, the holder may, in its sole discretion, elect to exercise the warrant through a cashless exercise, in which case the holder would receive upon such exercise the net number of common shares determined according to the formula set forth in the warrant. If the Company does not issue the shares in a timely fashion, the warrant contains certain liquidated damages provisions. As of December 31, 2020, no December Warrants had been exercised and the Company had Warrants outstanding to purchase an aggregate of 1,270,587 common shares. The Company’s warrants meet the classification criteria as per IAS 32 and, accordingly, are classified in equity. Total transaction costs for the issuance of common shares in relation to the offering described above amounted to $1,079. Share premium includes the contribution of Globus’ shareholders to the acquisition of the Company’s vessels. Additionally, share premium includes the effects of the Globus initial and follow-on public offerings, the effects of the settlement of the related party loans (note 4) with the issuance of the Company’s common shares and the effects of the share based payments described in note 12. Accordingly, at December 31, 2020, 2019 and 2018, Globus share premium amounted to $195,102, $145,527 and $140,347, respectively.

Loss per Share

Loss per Share	12 Months Ended
	Dec. 31, 2020
Loss per share [abstract]
Loss per Share	10. Loss per Share Basic loss per share (‘‘LPS’’) is calculated by dividing the net loss for the year attributable to Globus shareholders by the weighted average number of shares issued, paid and outstanding. Diluted loss per share is calculated by dividing the net loss attributable to common equity holders of the parent by the weighted average shares outstanding during the year plus the weighted average number of common shares that would be issued on the conversion of all the dilutive potential common shares into common shares. The incremental shares (the difference between the number of shares assumed issued and the number of shares assumed purchased) are included in the denominator of the diluted earnings/(losses) per share computation unless such inclusion would be anti-dilutive. As the Company reported losses for the years ended December 31, 2020, 2019 and 2018, the effect of any incremental shares would be antidilutive and thus excluded from the computation of the LPS. The following reflects the loss and share data used in the basic and diluted loss per share computations: For the year ended December 31, 2020 2019 2018 Loss attributable to common equity holders (17,372 ) (36,351 ) (3,568 ) Weighted average number of shares for basic and diluted LPS 959,157 41,622 31,972

Long-Term Debt, Net

Long-Term Debt, Net	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about borrowings [abstract]
Long-Term Debt, net	11. Long-Term Debt, net Long-term debt in the consolidated statement of financial position is analysed as follows: Borrower Loan Balance Unamortized Debt Discount Total Borrowings (a) Devocean Maritime LTD., Domina Maritime LTD., Dulac Maritime S.A., Artful Shipholding S.A. & Longevity Maritime Limited 37,000 (448 ) 36,552 Total at December 31, 2020 37,000 (448 ) 36,552 Less: Current Portion (5,970 ) 305 (5,665 ) Long-Term Portion 31,030 (143 ) 30,887 Total at December 31, 2019 38,487 (741 ) 37,746 Less: Current Portion (1,487 ) 292 (1,195 ) Long-Term Portion 37,000 (449 ) 36,551 In June 2019, Globus through its wholly owned subsidiaries, Devocean Maritime Ltd.(the “Borrower A”), Domina Maritime Ltd. (the “Borrower B”), Dulac Maritime S.A. (the “Borrower C”), Artful Shipholding S.A. (the “Borrower D”) and Longevity Maritime Limited (the “Borrower E”), vessel owning companies of m/v River Globe, m/v Sky Globe, m/v Star Globe, m/v Moon Globe and m/v Sun Globe, respectively, entered a new term loan facility for up to $37,000 with EnTrust Global’s Blue Ocean Fund for the purpose of refinancing the existing indebtedness secured on the ships and for general corporate purposes. The loan facility is in the names of Devocean Maritime Ltd., Domina Maritime Ltd, Dulac Maritime S.A., Artful Shipholding S.A. and Longevity Maritime Limited as the borrowers and is guaranteed by Globus. The loan facility bears interest at LIBOR plus a margin of 8.50% (or 10.5% default interest) for interest periods of three months. This loan facility is referred to as EnTrust loan facility. On June 24, 2019, the Company drew down $37,000 under the EnTrust loan facility and fully prepaid the existing loan facilities with Hamburg Commercial Bank AG (formerly known as HSH Nordbank AG) and Macquarie Bank International Limited. The “EnTrust” loan facility consists of five Tranches: Tranche (A) of $6,375 for the purpose of prepaying to Hamburg Commercial Bank AG the amount outstanding with respect to the m/v River Globe. The balance outstanding of tranche (A) at December 31, 2020, was $6,375 payable in 6 equal quarterly instalments of $266 starting, March 2021, as well as a balloon payment of $4,779 due together with the 6th and final instalment due in June 2022. This repayment schedule is subject to alterations depending on the amount of “Excess cash”, as described in the loan agreement, which is expected to be applied against the balloon amount. Tranche (B) of $7,375 for the purpose of prepaying to Hamburg Commercial Bank AG the amount outstanding with respect to the m/v Sky Globe. The balance outstanding of tranche (B) at December 31, 2020, was $7,375 payable in 6 equal quarterly instalments of $230 starting, March 2021, as well as a balloon payment of $5,995 due together with the 6th and final instalment due in June 2022. This repayment schedule is subject to alterations depending on the amount of “Excess cash”, as described in the loan agreement, which is expected to be applied against the balloon amount.11 Long-Term Debt, net (continued) Tranche (C) of $7,750 for the purpose of prepaying to Hamburg Commercial Bank AG the amount outstanding with respect to the m/v Star Globe. The balance outstanding of tranche (C) at December 31, 2020, was $7,750 payable in 6 equal quarterly instalments of $215 starting, March 2021, as well as a balloon payment of $6,460 due together with the 6th and final instalment due in June 2022. This repayment schedule is subject to alterations depending on the amount of “Excess cash”, as described in the loan agreement, which is expected to be applied against the balloon amount. Tranche (D) of $6,500 for the purpose of prepaying to Macquarie Bank International Limited the amount outstanding with respect to the m/v Moon Globe. The balance outstanding of tranche (D) at December 31, 2020, was $6,500 payable in 6 equal quarterly instalments of $406 starting, March 2021, as well as a balloon payment of $4,064 due together with the 6th and final instalment due in June 2022. This repayment schedule is subject to alterations depending on the amount of “Excess cash”, as described in the loan agreement, which is expected to be applied against the balloon amount. Tranche (E) of $9,000 for the purpose of prepaying to Macquarie Bank International Limited the amount outstanding with respect to the m/v Sun Globe. The balance outstanding of tranche (E) at December 31, 2020, was $9,000 payable in 6 equal quarterly instalments of $375 starting, March 2021, as well as a balloon payment of $6,750 due together with the 6th and final instalment due in June 2022. This repayment schedule is subject to alterations depending on the amount of “Excess cash”, as described in the loan agreement, which is expected to be applied against the balloon amount. The total amount of borrowing costs that were capitalized for this loan facility amounted to $880 which is being amortized over the term of this loan facility. The loan is secured by: First preferred mortgage over m/v River Globe, m/v Sky Globe, m/v Star Globe, m/v Moon Globe and m/v Sun Globe. Guarantee from Globus and joint liability of the vessel owning companies. Shares pledges respecting each borrower. Pledges of bank accounts, charter assignments, and a general assignment over each ship’s earnings, insurances and any requisition compensation in relation of that ship. The EnTrust loan facility contains various covenants requiring the vessels owning companies and/or Globus to, amongst others, ensure that: The Borrowers shall maintain a minimum liquidity at all times of not less than $250 for each mortgaged ship. The Parent Guarantor shall maintain, on a consolidated basis, at the end of each calendar quarter liquid funds in an amount, in aggregate, of not less than 5 per cent of the consolidated “Financial Indebtedness”, as described in the loan agreement, of the Group as reflected in the most recent financial statements of the Parent Guarantor. Each Borrower shall maintain in its earnings account during a “Cash Sweep Period”, which is the period commencing on the relevant Utilisation Date and ending on September 30, 2019 and each three-month period thereafter commencing on January 1, April 1, July 1 and October 1, in each financial year of that Borrower, with the last such three-month period commencing on June 30, 2020 and ending on September 30, 2020, the applicable “Buffer Amount”, which is in relation to a Borrower for a Cash Sweep Period, the product of: (a) an amount equal to the lower of: (i) $1,000; and (ii) the difference between the daily time charter equivalent rate of the Ship owned by that Borrower, as evidenced in the management accounts, and the “Break-Even Expenses”, as described in the loan agreement, of that ship for that Cash Sweep Period; and (b) the actual number of days lapsed during that Cash Sweep Period for that Borrower. Each of Borrower B, Borrower C and Borrower D shall create a reserve fund in the Reserve Account to meet the anticipated dry docking and special survey fees and expenses for the Ship owned by it, by maintaining in the Reserve Account a minimum credit balance (the "Accruing Dry Docking and Special Survey Reserves") which may not be withdrawn (other than for the purpose of covering the documented and incurred costs and expenses for the next special survey of that Ship), in an amount equal to, at each Quarter End Date, the product of: (i) $500; and (ii) the number of days elapsed from the relevant Utilisation Date until such Quarter End Date, and that Borrower shall ensure that the credit balance of the Reserve Account shall be increased to meet the required amount of the Accruing Dry Docking and Special Survey Reserves by no later than each Quarter End Date. Each of Borrower A and Borrower E shall deposit on the relevant Utilisation Date in the Reserve Account to meet the anticipated dry docking and special survey fees and expenses for Ship which is owned by it, a minimum credit balance in an amount equal to $450 which may not be withdrawn (other than for the purpose of covering the documented and incurred costs and expenses for the next special survey of that Ship). No Borrower shall incur or permit to be outstanding any Financial Indebtedness except “Permitted Financial Indebtedness”. "Permitted Financial Indebtedness" means: (a) any Financial Indebtedness incurred under the Finance Documents; (b) any Financial Indebtedness that is subordinated to all Financial Indebtedness incurred under the Finance Documents pursuant to a Subordination Agreement or otherwise and which is, in the case of any such Financial Indebtedness of the Borrower, the subject of Subordinated Debt Security; and (c) any “Permitted Trade Debt”, which is defined as any trade debt on arm's length commercial terms reasonably incurred in the ordinary course of owning, operating, trading, chartering, maintaining and repairing a Ship which remains unpaid for over 15 days of its due date and which does not exceeds $400 (or the equivalent in any other currency) per Ship at any relevant time As of December 31, 2020 and 2019, the Company was in compliance with the covenants of the EnTrust Loan Agreement. In November 2018, Globus Maritime Limited entered into a credit facility for up to $15,000 with Firment Shipping Inc., an affiliate of the Company’s chairman, for the purpose of financing its general working capital needs (Note 4). The Firment Shipping Credit Facility is unsecured and remains available until its final maturity date on October 31, 2021, as amended. The Company has the right to draw-down any amount of up to $15,000 or prepay any amount in multiples of $100. Any prepaid amount could be re-borrowed in accordance with the terms of the facility. Interest on drawn and outstanding amounts is charged at 3.5% per annum until December 31, 2020, and thereafter at 7% per annum and no commitment fee is charged on the amounts remaining available and undrawn. Interest is payable the last day of a period of three months after the draw-down date, after this period in case of failure to pay any sum due, a default interest of 2% per annum above the regular interest is charged. Globus also has the right, in its sole option, to convert in whole or in part the outstanding unpaid principal amount and accrued but unpaid interest under the Firment Shipping Credit Facility into common stock. The conversion price shall equal the higher of (i) the average of the daily dollar volume-weighted average sale price for the common stock on the principal market on any trading day during the period beginning at 9.30 a.m. New York City time and ending at 4.00 p.m. (“VWAP”) over the pricing period multiplied by 80%, where the “Pricing Period” equals the ten consecutive trading days immediately preceding the date on which the conversion notice was executed or (ii) Two hundred eighty US Dollars ($280). As per the conversion clause included in the Firment Shipping Credit Facility, the Company has recognized this agreement as a hybrid financial instrument which includes an embedded derivative. This embedded derivative component was separated from the non-derivative host. The derivative component is shown separately from the non-derivative host in the consolidated statement of financial position at fair value. The changes in the fair value of the derivative financial instrument are recognized in the income statement component of the consolidated statement of comprehensive loss. For the year ended December 31, 2020 and 2019, the amount drawn and outstanding with respect to Firment Shipping Credit Facility was nil and $800, respectively. The non-derivative host at December 31, 2019, amounted to $307 and was classified under “current portion of long-term borrowings” in the consolidated statements of financial position. The derivative component at December 31, 2019, amounted to $524 and was classified under “fair value of derivative financial instruments, current” in the consolidated statements of financial position. On April 23, 2019, the Company converted to share capital, as per the conversion clause included in the Firment Shipping Credit Facility the outstanding principal amount of $3,100 plus the accrued interest of $70 at a conversion price of $280 per share and issued 11,322 new common shares, par value $0.004 per share, on behalf of Firment Shipping Inc. This conversion resulted to a gain of approximately $117, which was classified under “gain/(loss) on derivative financial instruments” in the income statement component of the consolidated statement of comprehensive loss. For the year ended December 31, 2019 the Company recognized a gain on this derivative financial instrument amounting to $135, which was classified under “gain/(loss) on derivative financial instruments” in the income statement component of the consolidated statement of comprehensive loss. On July 27, 2020, the Company repaid the total outstanding principal and interest of the Firment Shipping Credit Facility amounting to $863. The Company recognized a gain on this derivative financial instrument amounting to $220, which was classified under “gain/(loss) on derivative financial instruments” in the income statement component of the consolidated statement of comprehensive loss. As of December 31, 2020 and 2019, there was an amount of $14,200 and $11,100, respectively, available to be drawn under the Firment Shipping Credit Facility, as amended and restated on May 8, 2020. The Amended and Restated Agreement converted the existing Revolving Credit Facility to a Term Credit Facility and extended the maturity date to October 31, 2021. The Firment Shipping Credit Facility requires that Athanasios Feidakis remains Chief Executive Officer and that Firment Shipping maintains at least a 40% shareholding in Globus, other than due to actions taken by Firment Shipping, such as sales of shares. In connection with the public offering on June 22, 2020 and the registered direct offering on June 30, 2020, July 21, 2020 and December 7, 2021 (collectively, the “Filings”), the Company obtained waivers from Firment Shipping Inc. The waivers consented to the Company making the Filings and waived the requirement to maintain at least a 40% shareholding in Globus as a result of the issuance of common shares and warrants. As of December 31, 2020 and 2019, the Company is in compliance with the loan covenants of the Firment Shipping Credit Facility. On March 13, 2019, the Company signed a securities purchase agreement with a private investor and on the same date issued, in a transaction exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), for gross proceeds of $5 million, a senior convertible note (the “Convertible Note”) that is convertible into shares of the Company’s common stock, par value $0.004 per share. The Convertible Note provided for interest to accrue at 10% annually, which interest would originally be paid on the first anniversary of the Convertible Note’s issuance unless the Convertible Note was converted or redeemed pursuant to its terms beforehand. The interest could be paid in common shares of the Company, if certain conditions described within the Convertible Note were met. With respect to the Convertible Note, the Company also signed a registration rights agreement with the private investor pursuant to which it agreed to register for resale the shares that could be issued pursuant to the Convertible Note. The registration rights agreement contained liquidated damages if the Company was unable to register for resale the shares into which the Convertible Note could be converted and maintain such registration. On March 13, 2020, Company and the holder of the Convertible Note entered into a waiver regarding the Convertible Note (the “Waiver”). The Waiver waived the Company’s obligation to repay the Convertible Note on the existing maturity date of March 13, 2020 and did not require the Company to repay the Convertible Note until March 13, 2021. As per the conversion clause included in the Convertible Note, the Company had recognized this agreement as a hybrid financial instrument which included an embedded derivative. This embedded derivative component was separated from the non-derivative host. The derivative component was shown separately from the non-derivative host in the consolidated statement of financial position at fair value. The changes in the fair value of the derivative financial instrument were recognized in the income statement component of the consolidated statement of comprehensive loss. The initial amount drawn with respect to the Convertible Note was $5,000. The non-derivative host and the derivative component that was initially recognized amounted to $1,783 and $3,217, respectively. The non-derivative host at December 31, 2019, amounted to $1,180 and was classified under “current portion of long-term borrowings” in the consolidated statement of financial position. During the year ended December 31, 2019, an amount corresponding to $ 1,691 plus the accrued interest of $97 under the Convertible Note was converted to share capital and the Company issued 8,676 new common shares to the holder of the Convertible Note. The derivative component at December 31, 2019, amounted to $98 and was classified under “fair value of derivative financial instruments - current” in the consolidated statement of financial position. As of December 31, 2019, the amount outstanding with respect to the Convertible Note was $3,309. For the year ended December 31, 2019, the Company recognized a gain on this derivative financial instrument amounting to $1,815, which was classified under “gain/(loss) on derivative financial instruments” in the income statement component of the consolidated statement of comprehensive loss. Further to the conversion clause included into the Convertible Note for the year ended December 31, 2020, a total amount of approximately $1,168, principal and accrued interest, was converted to share capital at the conversion price of $100 per share and a total number of 11,678 new shares, par value $0.004 per share, were issued in name of the holder of the Convertible Note. The Company recognized a loss on this derivative financial instrument amounting to $1,343, which was classified under “gain/(loss) on derivative financial instruments” in the income statement component of the consolidated statement of comprehensive loss. On May 8, 2020, the holder of our Convertible Note waived certain rights and temporarily reduced, until August 31, 2020, the amount the noteholder would receive upon a redemption of the Convertible Note at the Company’s option, such that the Convertible Note could have been redeemed at the Company’s option by paying the greater of (i) the aggregate amounts then outstanding pursuant to the Convertible Note (rather than 120% of such amounts) and (ii) the product of (x) the number of shares issuable upon a conversion of the Convertible Note (with respect to the amount being redeemed at the time) multiplied by (y) the greatest closing sale price of the Company’s common shares on any trading day between the date immediately preceding the first such redemption at the Company’s option and the trading day immediately prior to the final Company payment under the Convertible Note. The foregoing was subject to the Company’s redemption of all or part of the Convertible Note in cash with an amount equal to the lesser of (a) the aggregate amounts then outstanding pursuant to the Convertible Note and (b) 25% of the net proceeds of any public offering of its securities that close before August 31, 2020. On June 25, 2020, the Company repaid the total outstanding principal and interest of the Convertible Note amounting to $2,528. The Company recognized a loss on this derivative financial instrument amounting to $1,343, which was classified under “gain/(loss) on derivative financial instruments” in the income statement component of the consolidated statement of comprehensive loss. The contractual annual loan principal payments per lender to be made subsequent to December 31, 2020, were as follows: December 31, EnTrust 2021 5,970 2022 31,030 2023 and thereafter - Total 37,000 The contractual annual loan principal payments per lender to be made subsequent to December 31, 2019, were as follows: (c) December 31, (a) EnTrust (b) Firment Convertible Note Total 2020 - 800 * 3,309 * 4,109 2021 5,970 - - 5,970 2022 and thereafter 31,030 - - 31,030 Total 37,000 800 3,309 41,109 * This table represents the maturities before the waivers/extensions acquired within the first quarter of 2020. The weighted average interest rate for the years ended December 31, 2020 and 2019, was 9.44% and 8.66%, respectively.

Share Based Payment

Share Based Payment	12 Months Ended
	Dec. 31, 2020
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Share Based Payment	12. Share Based Payment Share-based payments are quarterly restrictive shares issued to the Company’s Non-executive directors for their services and in accordance with appointment letters. Share based payment comprise the following: Year 2020 Number of common shares Number of preferred shares Share premium Retained earnings Non-executive directors’ payment 2,812 - 40 - Balance at December 31, 2020 2,812 - 40 - Year 2019 Number of common shares Number of preferred shares Share premium Retained earnings Non-executive directors’ payment 180 - 40 - Balance at December 31, 2019 180 - 40 - Year 2018 Number of common shares Number of preferred shares Share premium Retained earnings Non-executive directors’ payment (1) 88 - 50 - Balance at December 31, 2018 88 - 50 - (1) These amounts relate to the shares issued in 2018, not to the shares approved for issuance for the year.

Voyage Expenses And Vessel Oper

Voyage Expenses And Vessel Operating Expenses	12 Months Ended
	Dec. 31, 2020
Voyage Expenses and Vessel Operating Expenses [Abstract]
Voyage Expenses and Vessel Operating Expenses	13. Voyage Expenses and Vessel Operating Expenses Voyage expenses and vessel operating expenses in the consolidated statements of comprehensive loss consisted of the following: Voyage expenses consisted of: For the year ended December 31, 2020 2019 2018 Commissions 160 224 281 Bunkers expenses 2,117 1,634 716 Other voyage expenses 213 240 191 Total 2,490 2,098 1,188 Vessel operating expenses consisted of: For the year ended December 31, 2020 2019 2018 Crew wages and related costs 4,865 4,670 4,766 Insurance 661 664 607 Spares, repairs and maintenance 1,574 1,884 2,721 Lubricants 434 517 501 Stores 787 820 1,000 Other 260 327 330 Total 8,581 8,882 9,925

Administrative Expenses

Administrative Expenses	12 Months Ended
	Dec. 31, 2020
Administrative Expenses [Abstract]
Administrative Expenses	14. Administrative Expenses The amount shown in the consolidated statements of comprehensive loss is analysed as follows: For the year ended December 31, 2020 2019 2018 Personnel expenses 1,013 1,006 778 Audit fees 143 98 103 Travelling expenses 1 3 5 Consulting fees 243 191 76 Communication 12 7 9 Stationery 3 2 2 Greek tax authorities (note 19) 130 116 118 Other 346 160 265 Total 1,891 1,583 1,356

Interest Expense And Finance Co

Interest Expense And Finance Costs	12 Months Ended
	Dec. 31, 2020
Interest Expense and Finance Costs [Abstract]
Interest Expense and Finance Costs	15. Interest Expense and Finance Costs The amounts in the consolidated statements of comprehensive loss are analysed as follows: For the year ended December 31, 2020 2019 2018 Interest payable on long-term borrowings 3,721 3,603 2,004 Bank charges 69 28 29 Amortization of debt discount 293 383 23 Operating lease liability interest 44 51 - Other finance expenses 28 638 - Total 4,155 4,703 2,056

Dividends

Dividends	12 Months Ended
	Dec. 31, 2020
Dividends [Abstract]
Dividends	16. Dividends No dividends were declared or paid on common shares during the years ended December 31, 2020, 2019 and 2018.

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2020
Disclosure of contingent liabilities [abstract]
Contingencies	17. Contingencies Various claims, suits and complaints, including those involving government regulations, arise in the ordinary course of the shipping business. In addition, losses may arise from disputes with charterers, environmental claims, agents, and insurers and from claims with suppliers relating to the operations of the Company’s vessels. Currently, management is not aware of any such claims or contingent liabilities, which are material for disclosure.

Commitments

Commitments	12 Months Ended
	Dec. 31, 2020
Commitments [Abstract]
Commitments	18. Commitments The Company enters into time charter and bareboat charter arrangements on its vessels. As of December 31, 2020, the non-cancellable arrangements had remaining terms between nine days to eight months, assuming redelivery at the earliest possible date. There were no non-cancellable arrangements as of December 31, 2019. Future net minimum lease revenues receivable under non-cancellable operating leases as of December 31, 2020 and 2019, were as follows (vessel off-hires and dry-docking days that could occur but are not currently known are not taken into consideration and early delivery of the vessels by the charterers is not accounted for): 2020 2019 Within one year 3,078 - Total 3,078 - These amounts include consideration for other elements of the arrangement apart from the right to use the vessel such as maintenance and crewing and its related costs. At December 31, 2020, 2019 and 2018, the Company was a party to a lease agreement as lessee (note 4). The lease relates to the rental of office premises at a monthly rate of Euro 10,360 (absolute amount) and for a lease period ending January 2, 2025. The future minimum lease payments under this agreement as of December 31, 2018, assuming a Euro: US dollar exchange rate for 2018 1:1.14, amounted to $850. Total rent expense under operating leases for the year ended December 31, 2018, amounted to $147. As further discussed in note 4, on January 1, 2019, following the adoption of IFRS 16, the Company recognised a right of use asset and a corresponding liability of approximately $674 with respect to the rental agreement. The depreciation charge for right-of-use assets for the years ended December 31, 2020 and 2019, was approximately $112 for both years and recognised under depreciation in the income statement component of the consolidated statements of comprehensive loss. The interest expense on lease liability for the years ended December 31, 2020 and 2019, was approximately $44 and $51, respectively, and recognised under interest expense and finance costs in the income statement component of the consolidated statements of comprehensive loss. At December 31, 2020 and 2019, the current lease liability amounted to $195 and $208, respectively. The non-current lease liability amounted to $367 and $469, respectively. These are included in the accompanying consolidated statements of financial position.

Income Tax

Income Tax	12 Months Ended
	Dec. 31, 2020
Income Tax [abstract]
Income Tax	19. Income Tax Under the laws of the countries of the vessel owning companies’ incorporation and / or vessels’ registration, vessel owning companies are not subject to tax on international shipping income; however, they are subject to registration and tonnage taxes, which are included in vessel operating expenses in the accompanying consolidated statements of loss. Greek Authorities Tax In January 2013, the tax Law 4110/2013 amended the provisions of art. 26 of Law 27/1975 by imposing a fixed annual tonnage tax on vessels flying a foreign (i.e., non-Greek) flag which are managed by a Law 89/67 company, establishing an identical tonnage tax regime as the one already in force for vessels flying the Greek flag. This tax varies depending on the size of the vessel, calculated in gross registered tonnage, as well as on the age of each vessel. Payment of this tonnage tax satisfies all income tax obligations of both the ship-owning company and of all its shareholders up to the ultimate beneficial owners. Any tax payable to the state of the flag of each vessel as a result of its registration with a foreign flag registry (including the Marshall Islands) is subtracted from the amount of tonnage tax due to the Greek tax authorities. As of December 31, 2020, 2019 and 2018, the tax expense under the law amounted to $130, $116 and $118, respectively and is included in administrative expenses in the consolidated statements of comprehensive loss. U.S. Federal Income Tax Globus is a foreign corporation with wholly owned subsidiaries that are foreign corporations, which derive income from the international operation of a ship or ships that may earn United States (“U.S”) source shipping income for U.S. federal income tax purposes. It is unclear whether, under § 883 of the Internal Revenue Code, Globus’s income and the income of its ship-owning subsidiaries, to the extent derived from the international operation of a ship or ships, would currently be exempt from U.S. federal income tax. No such income was earned by Globus and its ship-owning subsidiaries in 2020. The following is a summary, discussing the application of the U.S. federal income tax laws to the Company relating to income derived from the international operation of a ship or ships. The discussion and its conclusion are based upon existing U.S. federal income tax law, including the Internal Revenue Code (the “Code”) and final U.S. Treasury Regulations (the “Regs”) as currently in effect, all of which are subject to change, possibly with retroactive effect. In general, under § 883, certain non-U.S. corporations are not subject to U.S. federal income tax on their U.S. source income derived from the international operation of a ship or ships (“gross transportation income”). Absent § 883 or a tax treaty exemption, such income generally would be subject to a 4% gross basis tax, or in certain cases, to a net income tax plus a 30% branch profits tax. For this purpose, U.S. source gross transportation income includes 50% of the shipping income that is attributable to transportation that begins or ends (but that does not both begin and end) in the United States. Shipping income attributable to transportation exclusively between non-U.S. ports is generally not subject to any U.S. Federal income tax. “Shipping income” generally means income that is derived from: (a) the use of vessels; (b) the hiring or leasing of vessels for use on a time, operating or bareboat charter basis; (c) the participation in a pool, partnership, strategic alliance, joint operating agreement or other joint venture it directly or indirectly owns or participates in that generates such income; or (d) the performance of services directly related to those uses. The Regs provide that a foreign corporation will qualify for the benefits of § 883 if, in relevant part, the foreign country in which the foreign corporation is organized grants an equivalent exemption to corporations organized in the U.S. and the foreign corporation meets either the qualified shareholder test or the publicly traded test described below. Qualified Shareholder Test A foreign corporation having more than 50 percent of the value of its outstanding shares owned, directly or indirectly by application of specific attribution rules, for at least half of the number of days in the foreign corporation's taxable year by one or more qualified shareholders will meet the qualified shareholder test. In part, an individual who is a shareholder will be considered a qualified shareholder if he or she is a resident of a qualified foreign country (which means for this purpose that he or she is fully liable to tax in such country, and maintains a tax home in such country for 183 days or more in the taxable year, or certain other rules apply) and does not own his or her interest in the foreign corporation through bearer shares (except for bearer shares held in a dematerialized or immobilized book entry system), either directly or indirectly by application of the attribution rules. In addition, in order to meet the qualified shareholder test, a foreign corporation will need to obtain certifications from its qualified shareholders (including from intermediary entities) substantiating their stock ownership. Publicly Traded Test The Publicly Traded Test requires that one or more classes of equity representing more than 50% of the voting power and value in a non-United States corporation be “primarily and regularly traded” on an established securities market either in the United States or in a foreign country that grants an equivalent exemption. Among others, § 883 provides, in relevant part, that the shares of a non-United States corporation will be considered to be “primarily traded” on an established securities market in a country if the number of shares of each class of shares that are traded during any taxable year on all established securities markets in that country exceeds the number of shares in each such class that are traded during that year on established securities markets in any other single country. Notwithstanding the foregoing, § 883 provides, in relevant part, that a class of shares will not be considered to be “regularly traded” on an established securities market for any taxable year in which 50% or more of the vote and value of the outstanding shares of such class are owned, actually or constructively under specified share attribution rules, on more than half the days during the taxable year by persons who each own 5% or more of the vote and value of such class of outstanding shares which is referred as the 5 Percent Override Rule. In the event that the 5 Percent Override Rule is triggered, § 883 provides that such rule will not apply if the Company can establish that within the group of 5% shareholders, there are sufficient qualified shareholders within the meaning of § 883 to preclude non-qualified shareholders in such group from owning 50% or more of the total value of the Company’s common shares for more than half the number of days during the taxable year. For the years ended December 31, 2019 and 2018, Globus and its wholly owned subsidiaries deriving income from the operation of international ships were organized in foreign countries that grant equivalent exemptions to corporations organized in the U.S. Globus’s common shares, representing more than 50% of the voting power and value in Globus, were primarily and regularly traded on the Nasdaq Capital Market, which is an established securities market. Although Globus’s ship-owning and operating subsidiaries were not publicly traded, they should have qualified for the qualified shareholder test by virtue of their ownership by Globus. Accordingly, all of Globus’ and its ship-owning or operating subsidiaries that relied on § 883 for exempting U.S. source income from the international operation of ships should not have been subject to U.S. federal income tax for the years ended December 31, 2019 and 2018. However, for the year ended December 31, 2020, it is not clear that Globus was able to rely on the § 883 exemption, since even though its common shares, representing more than 50% of the voting power and value in Globus, were primarily and regularly traded on the Nasdaq Capital Market, the 5 Percent Override Rule may prevent application of the § 883 exemption. Nevertheless, because Globus and its subsidiaries earned no U.S. source gross transportation income (because none of Globus’s vessels made a voyage to or from the United States in 2020) neither the U.S. 4% gross basis tax nor the net income tax should be owed for 2020. If Globus were to earn U.S. source gross transportation income in 2021 or future years, and if Globus does not satisfy the requirements of the § 883 exemption in the future, Globus generally will be subject to the U.S. 4% gross basis tax on such U.S. source gross transportation income. Under the laws of the Republic of Malta, the country of incorporation of one of the Company’s vessel-owning company’s, this vessel-owning company is not liable for any income tax on its income derived from shipping operations. The Republic of Malta is a country that has an income tax treaty with the United States. Accordingly, income earned by vessel-owning companies organized under the laws of the Republic of Malta may qualify for a treaty-based exemption. Specifically, under Article 8 (Shipping and Air Transport) of the treaty sets out the relevant rule to the effect that profits of an enterprise of a Contracting State from the operation of ships in international traffic shall be taxable only in that State.

Financial risk management objec

Financial risk management objectives and policies	12 Months Ended
	Dec. 31, 2020
Financial risk management objectives and policies [abstract]
Financial risk management objectives and policies	20. Financial risk management objectives and policies The Company’s financial liabilities are long-term borrowings, trade and other payables and the financial derivative instrument. The main purpose of these financial liabilities is to assist the Company in the financing of its operations and the acquisition of vessels. The Company has various financial assets such as trade accounts receivable and cash and short-term deposits, which arise directly from its operations. The main risks arising from the Company’s financial instruments are cash flow interest rate risk, credit risk, liquidity risk and foreign currency risk. Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company’s exposure to the risk of changes in market interest rates relates primarily to the Company’s long-term debt obligations with floating interest rates. As of December 31, 2019, 10% of the Company’s long term borrowings were at a fixed rate of interest and as of December 31, 2020, the Company had no long-term borrowings at a fixed interest rate. Interest rate risk table The following table demonstrates the sensitivity to a reasonably possible change in interest rates, with all other variables held constant, of the Company’s loss. Increase/(Decrease) in basis points Effect on loss 2020 $ Libor +15 (57 ) -20 75 2019 $ Libor +15 (55 ) -20 73 Foreign currency risk The following table demonstrates the sensitivity to a reasonably possible change in the Euro exchange rate, with all other variables held constant, to the Company’s loss due to changes in the fair value of monetary assets and liabilities. The Company’s exposure to foreign currency changes for all other currencies as of December 31, 2020 and 2019, was not material. Change in rate Effect on loss 2020 +10 % (258 ) -10 % 258 2019 +10 % (255 ) -10 % 255 Credit risk The Company operates only with recognised, creditworthy third parties including major charterers, commodity traders and government owned entities. Receivable balances are monitored on an ongoing basis with the result that the Company’s exposure to impairment on trade accounts receivable is not significant. The maximum exposure is the carrying value of trade accounts receivable as indicated in the consolidated statement of financial position. With respect to the credit risk arising from other financial assets of the Company such as cash and cash equivalents, the Company’s exposure to credit risk arises from default of the counter parties, which are recognised financial institutions. The Company performs annual evaluations of the relative credit standing of these counter parties. The exposure of these financial instruments is equal to their carrying amount as indicated in the consolidated statement of financial position. Concentration of credit risk table: The following table provides information with respect to charterers who individually, accounted for approximately more than 10% of the Company’s revenue for the years ended December 31, 2020, 2019 and 2018: 2020 % 2019 % 2018 % A 751 6 % 3,476 22 % 3,679 21 % B - - - - 2,873 17 % Other 11,002 94 % 12,147 78 % 10,802 62 % Total 11,753 100 % 15,623 100 % 17,354 100 % Liquidity risk The Company mitigates liquidity risk by managing cash generated by its operations, applying cash collection targets appropriately. The vessels are normally chartered under time-charter, bareboat and spot agreements where, as per the industry practice, the charterer pays for the transportation service 15 days in advance, supporting the management of cash generation. Vessel acquisitions are carefully controlled, with authorisation limits operating up to board level and cash payback periods applied as part of the investment appraisal process. In this way, the Company maintains a good credit rating to facilitate fund raising. In its funding strategy, the Company’s objective is to maintain a balance between continuity of funding and flexibility through the use of bank loans. Excess cash used in managing liquidity is only invested in financial instruments exposed to insignificant risk of changes in market value or are being placed on interest bearing deposits with maturities fixed usually for no more than 3 months. The Company monitors its risk relating to the shortage of funds by considering the maturity of its financial liabilities and its projected cash flows from operations. The table below summarises the maturity profile of the Company’s financial liabilities (including interest) at December 31, 2020 and 2019 based on contractual undiscounted cash flows. Year ended December 31, 2020 Less than 3 months 3 to 12 months 1 to 5 years More than 5 years Total Long-term debt 2,302 6,752 32,362 - 41,416 Lease liabilities 106 106 426 - 638 Accrued liabilities and other payables 2,159 - - - 2,159 Trade accounts payables 4,758 - - - 4,758 Total 9,325 6,858 32,788 - 48,971 Year ended December 31, 2019* Less than 3 months 3 to 12 months 1 to 5 years More than 5 years Total Long-term debt 4,674 3,776 42,247 - 50,697 Lease liabilities 126 106 567 1 800 Accrued liabilities and other payables 1,971 - - - 1,971 Trade accounts payables 4,735 - - - 4,735 Total 11,506 3,882 42,814 1 58,203 * This table includes both the derivative component and the non-derivative host of the hybrid agreements of both the Firment Shipping Credit Facility and the Convertible Note (see note 11). Capital management The primary objective of the Company’s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order to support its business and maximise shareholder value. The Company manages its capital structure and makes adjustments to it, in light of changes in economic conditions. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares as well as managing the outstanding level of debt. Lenders may impose capital structure or solvency ratios (refer to note 11). No changes were made in the objectives, policies or processes during the years ended December 31, 2020 and 2019. The Company monitors capital using the ratio of net debt to book capitalisation adjusted for the market value of the Company’s vessels plus net debt. The Company includes within net debt, interest bearing loans gross of unamortized debt discount, less cash. Adjusted book capitalization refers to total equity adjusted for the market value of the Company’s vessels. December 31, 2020 2019 Interest bearing loans 37,000 38,487 Cash (including restricted cash) (21,103 ) (4,801 ) Net debt 15,897 33,686 Equity 42,094 9,879 Adjustment for the market value of vessels (charter-free) 493 (2,902 ) Adjusted book capitalization 42,587 6,977 Adjusted book capitalization plus net debt 58,484 40,663 Ratio 27 % 83 % The Company’s objective is to maintain the ratio of net debt to adjusted capitalization plus net debt to the range of 60%- 80%. Net debt as calculated above is not consistent with the International Financial Reporting Standards (“IFRS”) definition of debt. The following reconciliation is provided: December 31, 2020 2019 Debt in accordance with IFRS (long and short-term borrowings) 36,552 37,746 Add: Unamortized debt discount 448 741 37,000 38,487 Less: Cash and bank balances and bank deposits (including restricted cash) 21,103 4,801 Net debt 15,897 33,686

Fair values

Fair values	12 Months Ended
	Dec. 31, 2020
Disclosure of fair value measurement of assets [abstract]
Fair values	21. Fair values Carrying amounts and fair values The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy (as defined in note 2.27). It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value, such as cash and cash equivalents, restricted cash, trade receivables and trade payables. Fair value (in thousands of USD) Carrying amount Level 1 Level 2 Level 3 Total December 31, 2020 Other financial liabilities Financial liabilities not measured at fair value Long-term borrowings 37,000 - 37,961 - 37,961 37,000 Carrying amount Fair value (in thousands of USD) Assets Level 1 Level 2 Level 3 Total December 31, 2019 Non-financial assets measured at fair value Vessels (see also note 5) 37,346 37,346 - - 37,346 37,346 Other financial liabilities Financial liabilities measured at fair value Derivative financial instruments 622 - - 622 622 622 Financial liabilities not measured at fair value Long-term borrowings 38,487 - 39,853 - 39,853 38,487 Measurement of fair values Valuation techniques and significant unobservable inputs The following tables show the valuation techniques used in measuring Level 1, Level 2 and Level 3 fair values, as well as the significant unobservable inputs used. Financial instruments measured at fair value Type Valuation Techniques Significant unobservable inputs Vessels Quoted (unadjusted) prices in active markets for identical assets less costs of disposal - Derivative financial instruments: Firment Black-Scholes model Refer to note 2.29 Convertible Note Monte Carlo model Refer to note 2.29 Financial instruments not measured at fair value Type Valuation Techniques Significant unobservable inputs Long-term borrowings Discounted cash flow Discount rate Transfers between Level 1, 2 and 3 There were no transfers between these levels in 2019 and 2020.

Events after the reporting date

Events after the reporting date	12 Months Ended
	Dec. 31, 2020
Disclosure of non-adjusting events after reporting period [abstract]
Events after the reporting date	22. Events after the reporting date Issuance of securities On January 13, 2021, the remaining pre-funded warrants from the December 2020 Pre-Funded Warrants were exercised and 130,000 common shares, par value $0.004 per share were issued. On January 27, 2021, the Company entered into a securities purchase agreement with certain unaffiliated institutional investors to issue (a) 2,155,000 common shares, par value $0.004 per share, (b) pre-funded warrants to purchase 445,000 common shares, par value $0.004 per share and (c) warrants (the “January 2021 Warrants”) to purchase 1,950,000 common shares, par value $0.004 per share, at an exercise price of $6.25 per share. Total proceeds amounted to $15,108, before issuance expenses of approximately $150. The pre-funded warrants were all exercised subsequently. No January 2021 Warrants have been exercised as of the date hereof. The January 2021 Warrants are exercisable for a period of five and one-half years commencing on the date of issuance. The warrants will be exercisable, at the option of each holder, in whole or in part by delivering to the Company a duly executed exercise notice with payment in full in immediately available funds for the number of common shares purchased upon such exercise. If a registration statement registering the issuance of the common shares underlying the warrants under the Securities Act is not effective, the holder may, in its sole discretion, elect to exercise the warrant through a cashless exercise, in which case the holder would receive upon such exercise the net number of common shares determined according to the formula set forth in the warrant. If the Company does not issue the shares in a timely fashion, the warrant contains certain liquidated damages provisions. On February 12, 2021, the Company entered into a securities purchase agreement with certain unaffiliated institutional investors to issue (a) 3,850,000 common shares par value $0.004 per share, (b) pre-funded warrants to purchase 950,000 common shares, par value $0.004 par value, and (c) warrants (the “February 2021 Warrants”) to purchase 4,800,000 common shares, par value $0.004 per share, at an exercise price of $6.25 per share. Total proceeds amounted to $27,891, before issuance expenses of approximately $160. The pre-funded warrants were all exercised subsequently. No February 2021 Warrants have been exercised as of the date hereof. The February 2021 Warrants are exercisable for a period of five and one-half years commencing on the date of issuance. The warrants will be exercisable, at the option of each holder, in whole or in part by delivering to the Company a duly executed exercise notice with payment in full in immediately available funds for the number of common shares purchased upon such exercise. If a registration statement registering the issuance of the common shares underlying the warrants under the Securities Act is not effective, the holder may, in its sole discretion, elect to exercise the warrant through a cashless exercise, in which case the holder would receive upon such exercise the net number of common shares determined according to the formula set forth in the warrant. If the Company does not issue the shares in a timely fashion, the warrant contains certain liquidated damages provisions. In March 2021, the Company issued an additional 10,000 Series B preferred shares to Goldenmare Limited in return for $130, which was settled by reducing, on a dollar for dollar basis, the amount payable by the Company to Goldenmare Limited pursuant to a consultancy agreement. Acquisition of new vessels On February 18, 2021, the Company entered into a memorandum of agreement with an unrelated third party, for the acquisition of the m/v “Nord Venus”, a 2011-built Kamsarmax dry bulk carrier, for a purchase price of $16.5 million, if delivered up to May 31, 2021 or $16.2 if delivered between June 1, 2021 and August 15, 2021. The m/v “Nord Venus” was built at the Universal Shipbuilding Corporation in Japan and has a carrying capacity of 80,655 dwt. The agreement is subject to customary closing conditions. On March 19, 2021, the Company entered into a memorandum of agreement with an unrelated third party, for the acquisition of the m/v “Yangze 11”, a 2018-built Kamsarmax dry bulk carrier, for a purchase price of $27 million. The m/v “Yangze 11” was built at Jiangsu New Yangzi Shipbuilding Co., Ltd and has a carrying capacity of 82,027 dwt. The agreement is subject to customary closing conditions. Debt financing On March 23, 2021, we agreed on a prepayment notice for $6.0 million in relation to the Entrust loan facility, which represents all amounts that would otherwise come due during calendar year 2021. The prepayment is expected to be effected on March 31, 2021. As a result, after this pre-payment we will have an aggregate debt outstanding of $31 million, gross of unamortized debt costs, from the Entrust Loan Facility. In March 2021, the Company reached an arrangement with a financial institution for a loan facility of up to $34.25 million bearing interest at LIBOR plus a margin of 3.75% per annum. The arrangement is subject to definite documentation and customary closing conditions. The proceeds of this financing are expected to be used to repay the outstanding balance of EnTrust Loan Facility and/or for general corporate purposes.

Basis Of Preparation And Sign_2

Basis Of Preparation And Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2020
Significant Accounting Policies and Recent Accounting Pronouncements [Abstract]
Going concern basis of accounting:	2.1 Basis of Preparation: The consolidated financial statements have been prepared on a historical cost basis, except for financial instruments which are measured at fair value. The consolidated financial statements are presented in U.S. dollars and all values are rounded to the nearest thousand ($ 000s) except when otherwise indicated. Going concern basis of accounting: As of December 31, 2019, the Company reported a working capital deficit of $3,242 and accumulated deficit of $135,648. The low charter rates for dry bulk vessels as a result of the coronavirus outbreak and its effects on world trade and financial markets adversely affected the Company. The Company’s cash flow projections indicated that cash on hand and cash to be generated by operating activities might not be sufficient to cover the liquidity needs, including the debt obligations that became due in the twelve-month period ending following the issuance of the 2019 consolidated financial statements and the Company may not have been able to meet the minimum liquidity requirements included in the loan agreement with EnTrust at certain measurement dates falling due within the 12 month period from the issuance of the 2019 financial statements. These conditions raised substantial doubt about the entity's ability to continue as a going concern. On June 22, 2020, June 30, 2020, July 21, 2020 and December 9, 2020, the Company completed follow-on equity offerings that provided the Company with additional liquidity (refer to Note 9). As of December 31, 2020, the Company reported a working capital surplus of $9.2 million and was in compliance with its debt covenants. Subsequently, on January 29, 2021 and February 17, 2021, the Company completed additional follow-on equity offerings that provided the Company with further liquidity (refer to Note 22). The Company’s cash flow projections indicate that the Company is expected to be able to meet the debt covenants on the applicable measurement dates falling due in the twelve-month period ending following the issuance of these consolidated financial statements and that cash on hand and cash to be provided by operating activities will be sufficient to cover the liquidity needs, including the debt obligations that become due in the twelve-month period ending following the issuance of these consolidated financial statements. Impact of COVID-19 on the Company’s Business The spread of the COVID-19 virus, which has been declared a pandemic by the World Health Organization in 2020 has caused substantial disruptions in the global economy and the shipping industry, as well as significant volatility in the financial markets, the severity and duration of which remains uncertain. The impact of the COVID-19 pandemic continues to unfold and may continue to have negative effect on the Company’s business, financial performance and the results of its operations, including due to decreased demand for global seaborne dry bulk trade and dry bulk charter rates, the extent of which will depend largely on future developments. As a result, many of the Company’s estimates and assumptions required increased judgment and carry a higher degree of variability and volatility. As events continue to evolve and additional information becomes available, the Company’s estimates may change in future periods. Besides reducing demand for cargo, coronavirus may functionally limit the amount of cargo that the Company and its competitors are able to move because countries worldwide have imposed quarantine checks on arriving vessels, which have caused delays in loading and delivery of cargoes. The pandemic had a negative impact on the Company’s voyage revenues for the year ended December 31, 2020, which reached $11,753 compared to $15,623 for the same period in 2019. The decrease in voyage revenues is attributed to the low freight rates achieved during 2020 due to the outbreak of COVID-19 virus. The Company has evaluated the impact of the current economic situation on the recoverability of the carrying amount of its vessels. During the first quarter of 2020, the Company concluded that events and circumstances triggered the existence of potential impairment of its vessels. These indicators included volatility in the charter market as well as the potential impact the current marketplace may have on the future operations. As a result, the Company performed an impairment assessment of the Company’s vessels by comparing the discounted projected net operating cash flows for each vessel to its carrying values. For the first quarter of 2020, the Company concluded that the recoverable amounts of the vessels were lower than their carrying amounts and an impairment loss of $4,615 was recorded (Note 5). Subsequently, the Company has re-assessed impairment indicators and performed an impairment test on the recoverability of the carrying amount of its vessels as of December 31, 2020 using discounted projected net operating cash flows for each vessel and concluded that no further impairment of its vessels should be recorded or previously recognized impairment should be reversed. Statement of Compliance: These consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). Basis of Consolidation: The consolidated financial statements comprise the financial statements of Globus and its subsidiaries listed in note 1. The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. All inter-company balances and transactions have been eliminated upon consolidation. Subsidiaries are fully consolidated from the date on which control is transferred to the Company and cease to be consolidated from the date on which control is transferred out of the Company.
Standards amendments and interpretations:	2.2 Standards amendments and interpretations: The accounting policies adopted are consistent with those of previous financial year except for the following amended IFRS which have been adopted by the Company as of January 1, 2020: • Conceptual Framework in IFRS standards The IASB issued the revised Conceptual Framework for Financial Reporting on March 29, 2018. The Conceptual Framework sets out a comprehensive set of concepts for financial reporting, standard setting, guidance for preparers in developing consistent accounting policies and assistance to others in their efforts to understand and interpret the standards. IASB also issued a separate accompanying document, Amendments to References to the Conceptual Framework in IFRS Standards, which sets out the amendments to affected standards in order to update references to the revised Conceptual Framework. Its objective is to support transition to the revised Conceptual Framework for companies that develop accounting policies using the Conceptual Framework when no IFRS Standard applies to a particular transaction. For preparers who develop accounting policies based on the Conceptual Framework, it is effective for annual periods beginning on or after 1 January 2020. • IFRS 3: Business Combinations (Amendments) The IASB issued amendments in Definition of a Business (Amendments to IFRS 3) aimed at resolving the difficulties that arise when an entity determines whether it has acquired a business or a group of assets. The Amendments are effective for business combinations for which the acquisition date is in the first annual reporting period beginning on or after January 1, 2020 and to asset acquisitions that occur on or after the beginning of that period, with earlier application permitted. Management has assessed that this amendment had no impact on the Company’s financial position or performance as there were no business combinations during the year ended December 31, 2020. • IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors: Definition of ‘material’ (Amendments) The Amendments clarify the definition of material and how it should be applied. The new definition states that, “Information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity”. In addition, the explanations accompanying the definition have been improved. The Amendments also ensure that the definition of material is consistent across all IFRS Standards. Management has assessed that this amendment had no impact on the Company’s financial position or performance. • Interest Rate Benchmark Reform - IFRS 9, IAS 39 and IFRS 7 (Amendments) In September 2019, the IASB issued amendments to IFRS 9, IAS 39 and IFRS 7, which concludes phase one of its work to respond to the effects of Interbank Offered Rates (IBOR) reform on financial reporting. The amendments published, deal with issues affecting financial reporting in the period before the replacement of an existing interest rate benchmark with an alternative interest rate and address the implications for specific hedge accounting requirements in IFRS 9 Financial Instruments and IAS 39 Financial Instruments: Recognition and Measurement, which require forward-looking analysis. The amendments provide temporary reliefs, applicable to all hedging relationships that are directly affected by the interest rate benchmark reform, which enable hedge accounting to continue during the period of uncertainty before the replacement of an existing interest rate benchmark with an alternative nearly risk-free interest rate. There are also amendments to IFRS 7 Financial Instruments: Disclosures regarding additional disclosures around uncertainty arising from the interest rate benchmark reform. The amendments are effective for annual periods beginning on or after January 1, 2020 and must be applied retrospectively. Phase two (ED) focuses on issues that could affect financial reporting when an existing interest rate benchmark is replaced with a risk-free interest rate (an RFR). Management has assessed that this amendment had no impact on the Company’s financial position or performance. Standards issued but not yet effective and not early adopted: • Amendment in IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture The amendments address an acknowledged inconsistency between the requirements in IFRS 10 and those in IAS 28, in dealing with the sale or contribution of assets between an investor and its associate or joint venture. The main consequence of the amendments is that a full gain or loss is recognized when a transaction involves a business (whether it is housed in a subsidiary or not). A partial gain or loss is recognized when a transaction involves assets that do not constitute a business, even if these assets are housed in a subsidiary. In December 2015 the IASB postponed the effective date of this amendment indefinitely pending the outcome of its research project on the equity method of accounting. Management has assessed that this amendment will have no impact on the Company’s financial position or performance. • IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current (Amendments) The amendments are effective for annual reporting periods beginning on or after January 1, 2022 with earlier application permitted. However, in response to the covid-19 pandemic, the Board has deferred the effective date by one year, i.e. January 1, 2023, to provide companies with more time to implement any classification changes resulting from the amendments. The amendments aim to promote consistency in applying the requirements by helping companies determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current or non-current. The amendments affect the presentation of liabilities in the statement of financial position and do not change existing requirements around measurement or timing of recognition of any asset, liability, income or expenses, nor the information that entities disclose about those items. Also, the amendments clarify the classification requirements for debt which may be settled by the company issuing own equity instruments. Management has assessed that these amendments will have no impact on the Company’s financial position or performance. • IFRS 3 Business Combinations; IAS 16 Property, Plant and Equipment; IAS 37 Provisions, Contingent Liabilities and Contingent Assets as well as Annual Improvements 2018-2020 (Amendments) The amendments are effective for annual periods beginning on or after January 1, 2022, with earlier application permitted. The IASB has issued narrow-scope amendments to the IFRS Standards as follows: IFRS 3 Business Combinations (Amendments) update a reference in IFRS 3 to the Conceptual Framework for Financial Reporting without changing the accounting requirements for business combinations. IAS 16 Property, Plant and Equipment (Amendments) prohibit a company from deducting from the cost of property, plant and equipment amounts received from selling items produced while the company is preparing the asset for its intended use. Instead, a company will recognize such sales proceeds and related cost in profit or loss. IAS 37 Provisions, Contingent Liabilities and Contingent Assets (Amendments) specify which costs a company includes in determining the cost of fulfilling a contract for the purpose of assessing whether a contract is onerous. Annual Improvements 2018-2020 make minor amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards, IFRS 9 Financial Instruments, IAS 41 Agriculture and the Illustrative Examples accompanying IFRS 16 Leases. Management has assessed that these amendments will have no impact on the Company’s financial position or performance. • IFRS 16 Leases-Cοvid 19 Related Rent Concessions (Amendment) The amendment applies, retrospectively, to annual reporting periods beginning on or after June 1, 2020. Earlier application is permitted, including in financial statements not yet authorized for issue at May 28, 2020. IASB amended the standard to provide relief to lessees from applying IFRS 16 guidance on lease modification accounting for rent concessions arising as a direct consequence of the covid-19 pandemic. The amendment provides a practical expedient for the lessee to account for any change in lease payments resulting from the covid-19 related rent concession the same way it would account for the change under IFRS 16, if the change was not a lease modification, only if all of the following conditions are met: The change in lease payments results in revised consideration for the lease that is substantially the same as, or less than, the consideration for the lease immediately preceding the change. Any reduction in lease payments affects only payments originally due on or before June 30, 2021. There is no substantive change to other terms and conditions of the lease. Management has assessed that these amendments will have no impact on the Company’s financial position or performance. • Interest Rate Benchmark Reform – Phase 2 – IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 (Amendments) In August 2020, the IASB published Interest Rate Benchmark Reform – Phase 2, Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, completing its work in response to IBOR reform. The amendments provide temporary reliefs which address the financial reporting effects when an interbank offered rate (IBOR) is replaced with an alternative nearly risk-free interest rate (RFR). In particular, the amendments provide for a practical expedient when accounting for changes in the basis for determining the contractual cash flows of financial assets and liabilities, to require the effective interest rate to be adjusted, equivalent to a movement in a market rate of interest. Also, the amendments introduce reliefs from discontinuing hedge relationships including a temporary relief from having to meet the separately identifiable requirement when an RFR instrument is designated as a hedge of a risk component. Furthermore, the amendments to IFRS 4 are designed to allow insurers who are still applying IAS 39 to obtain the same reliefs as those provided by the amendments made to IFRS 9. There are also amendments to IFRS 7 Financial Instruments: Disclosures to enable users of financial statements to understand the effect of interest rate benchmark reform on an entity’s financial instruments and risk management strategy. The amendments are effective for annual periods beginning on or after January 1, 2021, with earlier application permitted. While application is retrospective, an entity is not required to restate prior periods. Management has assessed that these amendments will have no impact on the Company’s financial position or performance.
Significant accounting policies, judgments, estimates and assumptions:	2.3 Significant accounting policies, judgments, estimates and assumptions: The preparation of consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the amounts of revenues and expenses recognised during the reporting period. However, uncertainty about these assumptions and estimates could result in outcomes that could require a material adjustment to the carrying amount of the asset or liability affected in the future. Judgments: In the process of applying the Company’s accounting policies, management has made the following judgments that had a significant effect on the amounts recognised in the consolidated financial statements. Allowance for doubtful trade accounts receivable: The Company measures allowance for all trade accounts receivable under the simplified model using the lifetime expected credit loss (“ECL”) approach. When estimating ECLs, the Company considers reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic conditions. Provisions for doubtful trade accounts receivable as of December 31, 2020 and 2019, were nil and $23, respectively. Estimates and assumptions: The key assumptions concerning the future and other key sources of estimation uncertainty at the financial position date, that have a significant risk of causing a significant adjustment to the carrying amount of assets and liabilities within the next financial year, are discussed below. The Company based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the assumptions when they occur. Carrying amount of vessels, net : Vessels are stated at cost, less accumulated depreciation (including depreciation of dry-docking costs and the amortization of the component attributable to favourable or unfavourable lease terms relative to market terms) and accumulated impairment losses. The estimates and assumptions that have the most significant effect on the vessels carrying amount are estimations in relation to useful lives of vessels, their residual value and estimated dry docking dates. The key assumptions used are further explained in notes 2.9 to 2.13. Impairment of Non-Financial Assets : The Company’s impairment test for non-financial assets is based on the assets’ recoverable amount, where the recoverable amount is the greater of fair value less costs to sell and value in use. The Company engaged independent valuation specialists to determine the fair value of non-financial assets as at December 31, 2020 and 2019. The value in use calculation is based on a discounted cash flow model. The value in use calculation is most sensitive to the discount rate used for the discounted cash flow model as well as the expected net cash flows. See notes 2.13 and 5. Share based payments : The Company measures the cost of equity-settled transactions with employees by reference to the fair value of the equity instruments at the date at which they are granted. Estimating fair value for share-based payment transactions may require determination of the most appropriate valuation model, which is depended on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model including, expected volatility and dividend yield and making assumptions about them. The assumptions and models used for estimating fair value for share-based payment transactions are disclosed in note 12.
Accounting for revenue and related expenses:	2.4 Accounting for revenue and related expenses: The Company generates its revenues from charterers for the charter hire of its vessels. Vessels are chartered using time charters and bareboat, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily charter hire rate. If a time charter agreement exists and collection of the related revenue is reasonably assured, revenue is recognised on a straight-line basis over the period of the time charter. Such revenues are treated in accordance with IFRS 16 and the Company is required to disclose lease and non-lease components of lease revenue. Associated voyage expenses are recognised on a pro-rata basis over the duration of the period of the time charter. Deferred revenue relates to cash received prior to the financial position date and is related to revenue earned after such date. Interest income : interest income is recognised as interest on an accrual basis. Voyage expenses : Voyage expenses primarily consisting of port, canal and bunker expenses that are unique to a particular charter under time charter arrangements are paid by the charterer. Furthermore, voyage expenses include brokerage commission on revenue which is paid by the Company. Voyage expenses are accounted for on an accrual basis. Under a bareboat charter, the charterer assumes responsibility for all voyage expenses and risk of operation. Vessel operating expenses: Vessel operating costs include crew costs, provisions, deck and engine stores, lubricating oil, insurance, maintenance and repairs. Under bareboat charter arrangements, these expenses are paid by the charterer and by the Company under time charter and voyage charter arrangements. Vessel operating expenses are accounted for on an accrual basis. Under a bareboat charter, the charterer assumes responsibility for all vessel operating expenses and risk of operation.
Foreign currency translation:	2.5 Foreign currency translation: The functional currency of Globus and its subsidiaries is the U.S. dollar, which is also the presentation currency of the Company, since the Company’s vessels operate in international shipping markets, whereby the U.S. dollar is the currency used for transactions. Transactions involving other currencies during the period are converted into U.S. dollars using the exchange rates in effect at the time of the transactions. At the financial position dates, monetary assets and liabilities, which are denominated in currencies other than the U.S. dollar, are translated into the functional currency using the period-end exchange rate. Gains or losses resulting from foreign currency transactions are included in foreign exchange gains/(losses), net in the consolidated statement of comprehensive loss.
Cash and cash equivalents:	2.6 Cash and cash equivalents: The Company considers highly liquid investments such as time deposits and certificates of deposit with original maturity of three months or less to be cash and cash equivalents.
Trade accounts receivable, net:	2.7 Trade accounts receivable, net : The amount shown as trade accounts receivable at each financial position date includes estimated recoveries from charterers for hire, net of an allowance for doubtful accounts. Trade accounts receivable without a significant financing component are initially measured at their transaction price and subsequently measured at amortized cost less impairment losses, which are recognized in the consolidated statement of comprehensive loss. At each financial position date, all potentially uncollectible accounts are assessed individually for the purpose of determining the appropriate allowance for doubtful accounts. The provision for doubtful accounts at December 31, 2020 was nil (2019: $23).
Inventories:	2.8 Inventories: Inventories consist of lubricants, bunkers and gas cylinders and are stated at the lower of cost and net realisable value. The cost is determined by the first-in, first-out method.
Vessels, net:	2.9 Vessels, net: Vessels are stated at cost, less accumulated depreciation (including depreciation of dry-docking costs and amortization of components attributable to favourable or unfavourable lease terms relative to market terms) and accumulated impairment losses. Vessel cost consists of the contract price for the vessel and any material expenses incurred upon acquisition (initial repairs, improvements and delivery expenses, interest, commissions paid and on-site supervision costs incurred during the construction periods). Subsequent expenditures for conversions and major improvements are also capitalised when the recognition criteria are met. Otherwise these amounts are charged to expenses as incurred.
Deferred dry-docking costs:	2.10 Deferred dry-docking costs: Vessels are required to be dry-docked for major repairs and maintenance that cannot be performed while the vessels are operating. Dry-dockings occur approximately every 2.5 years. The costs associated with the dry-dockings are capitalised and depreciated on a straight-line basis over the period between dry-dockings, to a maximum of 2.5 years. At the date of acquisition of a vessel, management estimates the component of the cost that corresponds to the economic benefit to be derived until the first scheduled dry-docking of the vessel under the ownership of the Company and this component is depreciated on a straight-line basis over the remaining period through the estimated dry-docking date.
Depreciation:	2.11 Depreciation: The cost of each of the Company’s vessels is depreciated on a straight-line basis over each vessel’s remaining useful economic life, after considering the estimated residual value of each vessel, beginning when the vessel is ready for its intended use. Management estimates that the useful life of new vessels is 25 years, which is consistent with industry practice. The residual value of a vessel is the product of its lightweight tonnage and estimated scrap value per lightweight ton. The residual values and useful lives are reviewed at each reporting date and adjusted prospectively. During the first quarter of 2018, the Company adjusted the scrap rate from $250/ton to $300/ton due to the increased scrap rates worldwide. This resulted to a decrease of $178 to the depreciation charge included in the consolidated statement of comprehensive loss for 2018. During 2019 and 2020 the Company maintained the same scrap rate.
Amortization of lease component:	2.12 Amortization of lease component: When the Company acquires a vessel subject to an operating lease; it amortizes the amount reflected in the cost of that vessel that is attributable to favourable or unfavourable lease terms relevant to market terms, over the remaining term of the lease . The amortization is included in the line “amortization of fair value of time charter attached to vessels” in the income statement component of the consolidated statement of comprehensive loss.
Impairment of non-financial assets:	2.13 Impairment of non-financial assets: The Company assesses at each reporting date whether there is an indication that a vessel may be impaired. The vessel’s recoverable amount is estimated when events or changes in circumstances indicate the carrying value may not be recoverable. If such indication exists and where the carrying value exceeds the estimated recoverable amounts, the vessel is written down to its recoverable amount. The recoverable amount is the greater of fair value less costs to sell and value-in-use. In assessing value-in-use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the vessel. Impairment losses are recognised in the consolidated statement of comprehensive loss. A previously recognised impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognised. If that is the case, the carrying amount of the asset is increased to its recoverable amount. That increased amount cannot exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognised for the asset in prior years. Such reversal is recognised in the consolidated statement of comprehensive loss. After such a reversal, the depreciation charge is adjusted in future periods to allocate the asset’s revised carrying amount, less any residual value, on a systematic basis over its remaining useful life (refer to note 5).
Long-term debt:	2.14 Long-term debt: Long-term debt is initially recognised at the fair value of the consideration received net of financing costs directly attributable to the borrowing. After initial recognition, long-term debt is subsequently measured at amortized cost using the effective interest rate method. Amortized cost is calculated by taking into account any financing costs and any discount or premium on settlement. Gains and losses are recognised in the income statement component of the consolidated statement of comprehensive loss when the liabilities are derecognised or impaired, as well as through the amortization process.
Financing costs:	2.15 Financing costs: Fees incurred for obtaining new loans or refinancing existing loans are deferred and amortized over the life of the related debt, using the effective interest rate method. Any unamortized balance of costs relating to loans repaid or refinanced is expensed in the period the repayment or refinancing is made. For the year ended December 31, 2020, the Company did not incur any financing costs. For the year ended December 31, 2019, the Company deferred financing costs of $880, which relate to the costs incurred for the loan agreement with EnTrust Global’s Blue Ocean Fund (see Note 11 for more details). For the year ended December 31, 2018, the Company deferred financing costs of $253, which relates to the costs incurred for the loan agreement with Macquarie Bank International Limited (see Note 11 for more details).
Borrowing costs:	2.16 Borrowing costs: Borrowing costs consist of interest and other costs that the Company incurs in connection with the borrowing of funds. Borrowing costs are expensed to the income statement component of the consolidated statement of comprehensive loss as incurred under “interest expense and finance costs” except borrowing costs that relate to a qualifying asset. A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use. Borrowing costs that relate to qualifying assets are capitalised.
Operating segment:	2.17 Operating segment: The Company reports financial information and evaluates its operations by charter revenues and not by other factors such as length of ship employment for its customers i.e., spot or time charters or type of vessel. The Company does not use discrete financial information to evaluate the operating results for each such type of charter. Although revenue can be identified for these types of charters, management cannot and does not identify expenses, profitability or other financial information for these charters. As a result, management, including the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet and thus the Company has determined that it operates as one operating segment. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographical information is impracticable.
Provisions and contingencies:	2.18 Provisions and contingencies: Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and, a reliable estimate of the amount of the obligation can be made. Provisions are reviewed at each financial position date and adjusted to reflect the present value of the expenditure expected to be required to settle the obligation. Contingent liabilities are not recognized in the consolidated financial statements but are disclosed unless the possibility of an outflow of resources embodying economic benefits is remote, in which case there is no disclosure. Contingent assets are not recognized in the consolidated financial statements but are disclosed when an inflow of economic benefits is probable.
Pension and retirement benefit obligations:	2.19 Pension and retirement benefit obligations: The crew on board the vessels owned by the ship-owning companies, wholly owned subsidiaries of Globus is under short-term contracts (usually up to nine months) and, accordingly, the Company is not liable for any pension or post-retirement benefits payable to the crew. Provision for employees’ severance compensation: The Greek employees of the Company are bound by the Greek Labour law. Accordingly, compensation is payable to such employees upon dismissal or retirement. The amount of compensation is based on the number of years of service and the amount of remuneration at the date of dismissal or retirement. If the employee remains in the employment of the Company until normal retirement age, they are entitled to retirement compensation which is equal to 40% of the compensation amount that would be payable if they were dismissed at that time. The number of employees that will remain with the Company until retirement age is not known. The Company has provided for the employees’ retirement compensation liability which amounted to $31 as at December 31, 2020 (2019: $26), calculated by using the Projected Unit Credit Method and disclosed under non-current liabilities in the consolidated statement of financial position.
Offsetting of financial assets and liabilities:	2.20 Offsetting of financial assets and liabilities: Financial assets and liabilities are offset and the net amount is presented in the consolidated financial position only when the Company has a legally enforceable right to set off the recognised amounts and intend either to settle such asset and liability on a net basis or to realize the asset and settle the liability simultaneously.
Financial assets and liabilities:	2.21 Financial assets and liabilities: i. Classification and measurement of financial assets and financial liabilities On January 1, 2018, the Company adopted IFRS 9. IFRS 9 largely retains the existing requirements in IAS 39 for the classification and measurement of financial liabilities. However, it eliminates the previous IAS 39 categories for financial assets of held to maturity, loans and receivables and available for sale. Under IFRS 9, on initial recognition, a financial asset is classified as measured at: amortized cost; fair value through other comprehensive income (FVOCI) - debt investment; FVOCI - equity investment; or fair value through profit or loss (FVTPL). The classification of financial assets under IFRS 9 is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: it is held within a business model whose objective is to hold assets to collect contractual cash flows; and its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL: it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. All financial assets not classified as measured at amortized cost or FVOCI as described above are measured at FVTPL. On initial recognition, the Company may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortized cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise. A financial asset (unless it is a trade receivable without a significant financing component that is initially measured at the transaction price) is initially measured at fair value plus, for an item not at FVTPL, transaction costs that are directly attributable to its acquisition. ii. Impairment of financial assets IFRS 9 replaced the “incurred loss” model in IAS 39 with an “expected credit loss” (ECL) model. The new impairment model applies to financial assets measured at amortized cost, contract assets and debt investments at FVOCI, but not to investments in equity instruments. Under IFRS 9, credit losses are recognized earlier than under IAS 39. The financial assets at amortized cost consist of trade accounts receivable and cash and cash equivalents. Under IFRS 9, loss allowances are measured on either of the following bases: 12-month ECLs: these are ECLs that result from possible default events within the 12 months after the reporting date; and lifetime ECLs: these are ECLs that result from all possible default events over the expected life of a financial instrument. When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Company considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analyses, based on the Company's historical experience and informed credit assessment and including forward-looking information. The Company assumes that the credit risk on a financial asset has increased significantly if it is more than 180 days past due. The Company considers a financial asset to be in default when: the counterparty is unlikely to pay its contractual obligations to the Company in full, without recourse by the Company to actions such as realising security (if any is held); or the financial asset is more than 1 year past due. The maximum period considered when estimating ECLs is the maximum contractual period over which the Company is exposed to credit risk. ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls (i.e. the difference between cash flows due to the entity in accordance with the contract and cash flows that the Company expects to receive). ECLs are discounted at the effective interest rate of the financial asset. Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. The Company has determined that the application of IFRS 9's impairment requirements at January 1, 2018, did not result to any additional impairment allowance. iii. Derecognition of financial assets A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is derecognised where: the rights to receive cash flows from the asset have expired; the Company retains the right to receive cash flows from the asset, but has assumed an obligation to pay them in full without material delay to a third party under a “pass-through” arrangement; or the Company has transferred its rights to receive cash flows from the asset and either (a) has transferred substantially all the risks and rewards of the assets, or (b) has neither transferred nor retained substantially all the risks and rewards of the asset but has transferred control of the asset. Where the Company has transferred its rights to receive cash flows from an asset and has neither transferred nor retained substantially all the risks and rewards of the asset nor transferred control of the asset, the asset is recognised to the extent of the Company’s continuing involvement in the asset. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Company could be required to repay. iv. Derecognition of Financial liabilities: A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability and, the difference in the respective carrying amounts is recognised in profit or loss.
Leases - where the Company is the lessee:	2.22 Leases: IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract, i.e. the customer (“lessee”) and the supplier (“lessor”). The new standard requires lessees to recognize most leases on their financial statements. Lessees will have a single accounting model for all leases, with certain exemptions. Lessor accounting is substantially unchanged. The Company has initially adopted IFRS 16 on January 1, 2019 using the modified retrospective approach under which the comparative information presented for 2018 has not been restated and is presented as it was previously reported under IAS 17 and related interpretations. On transition, the Company has elected to apply the practical expedients available for leases with a remaining lease term of less than one year and leases of low value assets. Leases – where the Company is the lessee: The Company applies a single recognition and measurement approach for all leases, except for short term leases and leases of low value assets. The Company recognizes lease liabilities to make payments and right of use assets representing the right of use of the underlying asset. The Company recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets. If ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. At the commencement date of the lease, the Company recognises lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including any in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and any amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of penalties for terminating the lease, if the lease term reflects the Company exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset. At transition, the Company identified the rental agreement with Cyberonica S.A., to give rise to a right of use asset and a corresponding liability estimated to approximately $674 as of January 1, 2019, calculated as the present value of minimum future lease payments. The discount rate used is the incremental cost of borrowing, amounting to 8%. In addition, the nature and recognition of expenses related to those leases changed as IFRS 16 replaced the straight-line operating lease expense with a depreciation charge for right-of-use assets and interest expense on lease liabilities. The depreciation charge for right-of-use assets for the years ended December 31, 2020 and 2019 was approximately $112 for both years and the interest expense on lease liabilities for the years ended December 31, 2020 and 2019 was approximately $44 and $51, respectively. As of December 31, 2020 and 2019, the net carrying in amount of the right of use asset was $450 and $562, respectively.
Leases - where an entity is the lessor:	Leases – where an entity is the lessor: Leases of vessels where the entity does not transfer substantially all the risks and benefits of ownership of the vessel are classified as operating leases. Lease income on operating leases is recognised on a straight-line basis over the lease term. Contingent rents are recognised as revenue in the period in which they are earned. For time charters that qualify as leases, the Company is required to disclose lease and non-lease components of lease revenue. The revenue earned under time charters is not negotiated its two separate components, but as a whole. For purposes of determining the standalone selling price of the vessel lease and technical management service components of the Company’s time charters, the Company concluded that the residual approach would be the most appropriate method to use given that vessel lease rates are highly variable depending on shipping market conditions, the duration of such charters and the age of the vessel. The Company believes that the standalone transaction price attributable to the technical management service component, including crewing services, is more readily determinable than the price of the lease component and, accordingly, the price of the service component is estimated using data provided by its technical department, which consist of the crew expenses, maintenance and consumable costs and was approximately $8,985 for the year ended December 31, 2020. The lease component that is disclosed then is calculated as the difference between total revenue and the non-lease component revenue and was approximately $2,768 for the year ended December 31, 2020.
Insurance:	2.23 Insurance: The Company recognizes insurance claim recoveries for insured losses incurred on damage to vessels. Insurance claim recoveries are recorded, net of any deductible amounts, at the time the Company’s vessels suffer insured damages. They include the recoveries from the insurance companies for the claims, provided there is evidence the amounts are virtually certain to be received.
Share based compensation:	2.24 Share based compensation: Globus operates equity-settled, share-based compensation plans. The value of the service received in exchange of the grant of shares is recognized as an expense. The total amount to be expensed over the vesting period is determined by reference to the fair value of the share awards at the grant date. The relevant expense is recognized in the income statement component of the consolidated statement of comprehensive loss, with a corresponding impact in equity.
Share capital:	2.25 Share capital: Common shares and preferred shares are classified as equity. Incremental costs directly attributable to the issue of new shares are recognised in equity as a deduction from the proceeds.
Dividends:	2.26 Dividends: Dividends to shareholders are recognised in the period in which the dividends are declared and appropriately authorised and are accounted for as dividends payable until paid.
Fair value measurement:	2.27 Fair value measurement: The Company measures financial instruments, such as, derivatives and non-financial assets at fair value at each reporting date. In addition, fair values of financial instruments measured at amortised cost are disclosed in note 21. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either, a) in the principal market for the asset or the liability or b) in the absence of a principal market, in the most advantageous market for the asset or liability both being accessible by the Company. The fair value of an asset or a liability is measured using the assumptions that the market participants would use when pricing the asset or liability, assuming that the market participants act in their best economic interest. A fair value measurement of a non-financial asset takes into account the market participant’s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs. The Company uses the following hierarchy for determining and disclosing the fair value of assets and liabilities by valuation technique: Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities. Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly. Level 3: techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data. For assets and liabilities that are recognised in the consolidated financial statements on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by reassessing categorization at the end of each reporting period. The Company engaged independent valuation specialists to determine the fair value of non-financial assets.
Current versus non-current classification:	2.28 Current versus non-current classification: The Company presents assets and liabilities in the consolidated statement of financial position based on current/non-current classification. An asset as current when it is: Expected to be realised or intended to be sold or consumed in a normal operating cycle Held primarily for the purpose of trading Expected to be realised within twelve months after the reporting period Cash or cash equivalent All other assets are classified as non-current. A liability is current: It is expected to be settled in a normal operating cycle It is held primarily for the purpose of trading It is due to be settled within twelve months after the reporting period There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period. All other liabilities are classified as non-current.
Embedded Derivatives:	2.29 Embedded Derivatives: An embedded derivative is a component of a hybrid contract that also includes a non-derivative host, with the effect that some of the cash flows of the combined instrument vary in a way similar to a stand-alone derivative. An embedded derivative is separated from the host contract if, and only if (IFRS 9.4.3.3): (a) the economic characteristics and risks of the embedded derivative are not closely related to the economic characteristics and risks of the host; (b) a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and (c) the hybrid contract is not measured at fair value with changes in fair value recognised in profit or loss (i.e. a derivative that is embedded in a financial liability at fair value through profit or loss is not separated). The Company’s embedded derivatives are separated to the derivative component and the non-derivative host. The derivative component is shown separately from the non-derivative host in the consolidated statement of financial position at fair value. The changes in the fair value of the derivative financial instrument are recognized in the consolidated statement of comprehensive loss. The Company has determined there are derivative financial liabilities as of December 31, 2019 (see Note 11). The fair value of the embedded derivative instruments at December 31, 2019, was estimated using: i) the Black-Scholes option-pricing model for the embedded derivative included in the Firment Shipping Inc. Credit Facility with the following assumptions: (a) no dividend yield as the Company did not expect to pay a dividend in the foreseeable future, (b) weighted average expected volatility of 85%, (c) risk free rate of 1.59% determined by management using the applicable US Treasury Bill as of the measurement date, (d) market value of common stock of $0.99 and (e) expected life of 0.89 years as at December 31, 2019 and ii) the least squares approach on the Monte Carlo simulation for the embedded derivative included into the Convertible Note with the following assumptions: (a) the closing stock price on December 31, 2019, of $0.99, (b) the average logarithmic price change during the 6 month historical period of -0.68%, (c) the daily volatility for the 6 month period preceding the valuation date of 5.31%, (d) 10,000 iterations, (e) 50 remaining trading days as at December 31, 2019, (f) 1.535% risk free rate determined by management using the applicable 3 month US Treasury Bill as at December 31, 2019 and, (g) conversion and floor price of $100 per share. The Company fully repaid the outstanding balances not previously converted under the Firment Credit Facility and the Convertible Note in 2020.
Restricted cash	2.30 Restricted Cash: Restricted cash represents pledged cash deposits or minimum liquidity required to be maintained under the Company's borrowing arrangements. In the event that the obligation to maintain such deposits is expected to be terminated within the next twelve months, these deposits are classified as current assets. Otherwise they are classified as non-current assets.

Basis of presentation and gen_2

Basis of presentation and general information (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of subsidiaries [abstract]
Basis of presentation and general information	Company Country of Incorporation Vessel Delivery Date Vessel Owned Globus Shipmanagement Corp. Marshall Islands - Management Co. Devocean Maritime Ltd. Marshall Islands December 18, 2007 m/v River Globe Domina Maritime Ltd. Marshall Islands May 19, 2010 m/v Sky Globe Dulac Maritime S.A. Marshall Islands May 25, 2010 m/v Star Globe Artful Shipholding S.A. Marshall Islands June 22, 2011 m/v Moon Globe Longevity Maritime Limited Malta September 15, 2011 m/v Sun Globe Serena Maritime Limited Marshall Islands October 29, 2020 m/v Galaxy Globe Talisman Maritime Limited Marshall Islands - -

Cash and cash equivalents and_2

Cash and cash equivalents and Restricted cash (Tables)	12 Months Ended
	Dec. 31, 2020
Cash and cash equivalents [abstract]
Cash and cash equivalents and Restricted cash	December 31, 2020 2019 Cash on hand 13 10 Cash at banks 19,024 2,356 Total 19,037 2,366

Transactions with Related par_2

Transactions with Related parties (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of transactions between related parties [abstract]
Compensation of non-executive directors	For the year ended December 31, 2020 2019 2018 Directors’ remuneration 143 147 145 Share-based payments 40 40 40 Total 183 187 185
Compensation of executive director	For the year ended December 31, 2020 2019 2018 Short-term employee benefits 1,772 224 235 Total 1,772 224 235

Vessels, net (Tables)

Vessels, net (Tables)	12 Months Ended
	Dec. 31, 2020
Vessels, net [Abstract]
Vessels, net - Consolidated statement of financial position	Vessels cost Vessels accumulated depreciation Dry docking costs Accumulated depreciation of dry-docking costs Net Book Value Balance at January 1, 2018 179,401 (92,702 ) 4,830 (4,209 ) 87,320 Additions/ Dry Docking Component 26 - 2,148 - 2,174 Depreciation expense - (4,578 ) - (1,166 ) (5,744 ) Balance at December 31, 2018 179,427 (97,280 ) 6,978 (5,375 ) 83,750 Additions/ Dry Docking Component 54 - 622 - 676 Impairment loss (29,902 ) - - - (29,902 ) Depreciation expense - (4,578 ) - (1,704 ) (6,282 ) Balance at December 31, 2019 149,579 (101,858 ) 7,600 (7,079 ) 48,242 Additions/ Dry Docking Component 18,028 - 4,283 - 22,311 Impairment loss (4,615 ) - - - (4,615 ) Depreciation expense - (2,253 ) - (1,335 ) (3,588 ) Balance at December 31, 2020 162,992 (104,111 ) 11,883 (8,414 ) 62,350
Vessels, net - Consolidated statement of comprehensive loss	For the year ended December 31, 2020 2019 2018 Vessels depreciation 2,253 4,578 4,578 Depreciation on office furniture and equipment 33 31 23 Depreciation of right of use asset 112 112 - Total 2,398 4,721 4,601
Impairment loss	For the year ended December 31, Vessel 2020 2019 m/v River Globe (332 ) (6,920 ) m/v Sky Globe (1,231 ) (8,074 ) m/v Star Globe (460 ) (7,197 ) m/v Sun Globe (2,013 ) (4,797 ) m/v Moon Globe (579 ) (2,914 ) Impairment loss (4,615 ) (29,902 )
Recoverable amount	December 31, Vessels 2019 Recoverable amount m/v River Globe 7,752 At fair value less costs of disposal m/v Sky Globe 8,971 At fair value less costs of disposal m/v Star Globe 9,458 At fair value less costs of disposal m/v Sun Globe 11,165 At fair value less costs of disposal m/v Moon Globe 10,896 At value in use Total: 48,242

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2020
Inventories [Abstract]
Inventories	December 31, 2020 2019 Lubricants 319 295 Gas cylinders 75 79 Bunkers 854 1,171 Total 1,248 1,545

Accrued liabilities and other_2

Accrued liabilities and other payables (Tables)	12 Months Ended
	Dec. 31, 2020
Accrued liabilities and other payables [Abstract]
Accrued liabilities and other payables	December 31, 2020 2019 Accrued interest - 307 Accrued audit fees 63 56 Other accruals 1,953 1,435 Insurance deductibles 96 132 Other payables 47 41 Total 2,159 1,971

Share Capital and Share Premi_2

Share Capital and Share Premium (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of classes of share capital [abstract]
Authorised share capital	December 31, 2020 2019 2018 Authorised share capital: 500,000,000 Common shares of par value $0.004 each 2,000 2,000 2,000 100,000,000 Class B Common shares of par value $0.001 each 100 100 100 100,000,000 Preferred shares of par value $0.001 each 100 100 100 Total authorised share capital 2,200 2,200 2,200
Common shares issued and fully paid	Common Shares issued and fully paid Number of shares USD As at January 1, 2018 31,594 - Issued during the year for share based compensation (note 12) 88 - Issuance of common stock due to exercise of warrants 375 - As at December 31, 2018 32,057 - Issued during the year for share based compensation (note 12) 180 - Issuance of common stock due to conversion of loan 19,998 - As at December 31, 2019 52,235 - Issued during the year for share based compensation (note 12) 2,812 - Issuance of common stock due to conversion of loan 11,678 - Issuance of new common stocks 2,942,848 12 Issuance of common stock due to exercise of pre-funded warrants 25,000 - Issuance of common stock due to exercise of warrants 5,550 - As at December 31, 2020 3,040,123 12

Loss per share (Tables)

Loss per share (Tables)	12 Months Ended
	Dec. 31, 2020
Loss per share [abstract]
Loss per Share	For the year ended December 31, 2020 2019 2018 Loss attributable to common equity holders (17,372 ) (36,351 ) (3,568 ) Weighted average number of shares for basic and diluted LPS 959,157 41,622 31,972

Long-Term Debt, net (Tables)

Long-Term Debt, net (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about borrowings [abstract]
Long-Term Debt, net - Consolidated statement of financial position	Borrower Loan Balance Unamortized Debt Discount Total Borrowings (a) Devocean Maritime LTD., Domina Maritime LTD., Dulac Maritime S.A., Artful Shipholding S.A. & Longevity Maritime Limited 37,000 (448 ) 36,552 Total at December 31, 2020 37,000 (448 ) 36,552 Less: Current Portion (5,970 ) 305 (5,665 ) Long-Term Portion 31,030 (143 ) 30,887 Total at December 31, 2019 38,487 (741 ) 37,746 Less: Current Portion (1,487 ) 292 (1,195 ) Long-Term Portion 37,000 (449 ) 36,551
Long-Term Debt, net - Annual loan principal paymetns	December 31, EnTrust 2021 5,970 2022 31,030 2023 and thereafter - Total 37,000 (c) December 31, (a) EnTrust (b) Firment Convertible Note Total 2020 - 800 * 3,309 * 4,109 2021 5,970 - - 5,970 2022 and thereafter 31,030 - - 31,030 Total 37,000 800 3,309 41,109 * This table represents the maturities before the waivers/extensions acquired within the first quarter of 2020.

Share Based Payment (Tables)

Share Based Payment (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Share Based Payment	Year 2020 Number of common shares Number of preferred shares Share premium Retained earnings Non-executive directors’ payment 2,812 - 40 - Balance at December 31, 2020 2,812 - 40 - Year 2019 Number of common shares Number of preferred shares Share premium Retained earnings Non-executive directors’ payment 180 - 40 - Balance at December 31, 2019 180 - 40 - Year 2018 Number of common shares Number of preferred shares Share premium Retained earnings Non-executive directors’ payment (1) 88 - 50 - Balance at December 31, 2018 88 - 50 - (1) These amounts relate to the shares issued in 2018, not to the shares approved for issuance for the year.

Voyage Expenses and Vessel Op_2

Voyage Expenses and Vessel Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Voyage Expenses and Vessel Operating Expenses [Abstract]
Voyage Expenses and Vessel Operating Expenses	Voyage expenses consisted of: For the year ended December 31, 2020 2019 2018 Commissions 160 224 281 Bunkers expenses 2,117 1,634 716 Other voyage expenses 213 240 191 Total 2,490 2,098 1,188 Vessel operating expenses consisted of: For the year ended December 31, 2020 2019 2018 Crew wages and related costs 4,865 4,670 4,766 Insurance 661 664 607 Spares, repairs and maintenance 1,574 1,884 2,721 Lubricants 434 517 501 Stores 787 820 1,000 Other 260 327 330 Total 8,581 8,882 9,925

Administrative Expenses (Tables

Administrative Expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Administrative Expenses [Abstract]
Administrative Expenses	For the year ended December 31, 2020 2019 2018 Personnel expenses 1,013 1,006 778 Audit fees 143 98 103 Travelling expenses 1 3 5 Consulting fees 243 191 76 Communication 12 7 9 Stationery 3 2 2 Greek tax authorities (note 19) 130 116 118 Other 346 160 265 Total 1,891 1,583 1,356

Interest Expense and Finance _2

Interest Expense and Finance Costs (Tables)	12 Months Ended
	Dec. 31, 2020
Interest Expense and Finance Costs [Abstract]
Interest Expense and Finance Costs	For the year ended December 31, 2020 2019 2018 Interest payable on long-term borrowings 3,721 3,603 2,004 Bank charges 69 28 29 Amortization of debt discount 293 383 23 Operating lease liability interest 44 51 - Other finance expenses 28 638 - Total 4,155 4,703 2,056

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments [Abstract]
Future minimum lease revenues receivable under non-cancellable operating leases	2020 2019 Within one year 3,078 - Total 3,078 -

Financial risk management obj_2

Financial risk management objectives and policies (Tables)	12 Months Ended
	Dec. 31, 2020
Financial risk management objectives and policies [abstract]
Interest rate risk	Increase/(Decrease) in basis points Effect on loss 2020 $ Libor +15 (57 ) -20 75 2019 $ Libor +15 (55 ) -20 73
Foreign currency risk	Change in rate Effect on loss 2020 +10 % (258 ) -10 % 258 2019 +10 % (255 ) -10 % 255
Concentration of credit risk table	2020 % 2019 % 2018 % A 751 6 % 3,476 22 % 3,679 21 % B - - - - 2,873 17 % Other 11,002 94 % 12,147 78 % 10,802 62 % Total 11,753 100 % 15,623 100 % 17,354 100 %
Liquidity risk	Year ended December 31, 2020 Less than 3 months 3 to 12 months 1 to 5 years More than 5 years Total Long-term debt 2,302 6,752 32,362 - 41,416 Lease liabilities 106 106 426 - 638 Accrued liabilities and other payables 2,159 - - - 2,159 Trade accounts payables 4,758 - - - 4,758 Total 9,325 6,858 32,788 - 48,971 Year ended December 31, 2019* Less than 3 months 3 to 12 months 1 to 5 years More than 5 years Total Long-term debt 4,674 3,776 42,247 - 50,697 Lease liabilities 126 106 567 1 800 Accrued liabilities and other payables 1,971 - - - 1,971 Trade accounts payables 4,735 - - - 4,735 Total 11,506 3,882 42,814 1 58,203 * This table includes both the derivative component and the non-derivative host of the hybrid agreements of both the Firment Shipping Credit Facility and the Convertible Note (see note 11).
Capital management	December 31, 2020 2019 Interest bearing loans 37,000 38,487 Cash (including restricted cash) (21,103 ) (4,801 ) Net debt 15,897 33,686 Equity 42,094 9,879 Adjustment for the market value of vessels (charter-free) 493 (2,902 ) Adjusted book capitalization 42,587 6,977 Adjusted book capitalization plus net debt 58,484 40,663 Ratio 27 % 83 % The following reconciliation is provided: December 31, 2020 2019 Debt in accordance with IFRS (long and short-term borrowings) 36,552 37,746 Add: Unamortized debt discount 448 741 37,000 38,487 Less: Cash and bank balances and bank deposits (including restricted cash) 21,103 4,801 Net debt 15,897 33,686

Fair values (Tables)

Fair values (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of fair value measurement of assets [abstract]
Fair value measurement	Fair value (in thousands of USD) Carrying amount Level 1 Level 2 Level 3 Total December 31, 2020 Other financial liabilities Financial liabilities not measured at fair value Long-term borrowings 37,000 - 37,961 - 37,961 37,000 Carrying amount Fair value (in thousands of USD) Assets Level 1 Level 2 Level 3 Total December 31, 2019 Non-financial assets measured at fair value Vessels (see also note 5) 37,346 37,346 - - 37,346 37,346 Other financial liabilities Financial liabilities measured at fair value Derivative financial instruments 622 - - 622 622 622 Financial liabilities not measured at fair value Long-term borrowings 38,487 - 39,853 - 39,853 38,487
Valuation techniques and significant unobservable inputs	Financial instruments measured at fair value Type Valuation Techniques Significant unobservable inputs Vessels Quoted (unadjusted) prices in active markets for identical assets less costs of disposal - Derivative financial instruments: Firment Black-Scholes model Refer to note 2.29 Convertible Note Monte Carlo model Refer to note 2.29 Financial instruments not measured at fair value Type Valuation Techniques Significant unobservable inputs Long-term borrowings Discounted cash flow Discount rate

Basis of Presentation and Gen_3

Basis of Presentation and General Information (Table) (Details)	12 Months Ended
	Dec. 31, 2020
Globus Shipmanagement Corp.
Disclosure of subsidiaries
Country of Incorporation	Marshall Islands
Vessel Owned	Management Co.
Devocean Maritime Ltd.
Disclosure of subsidiaries
Country of Incorporation	Marshall Islands
Vessel Delivery Date	December 18, 2007
Vessel Owned	m/v River Globe
Domina Maritime Ltd.
Disclosure of subsidiaries
Country of Incorporation	Marshall Islands
Vessel Delivery Date	May 19, 2010
Vessel Owned	m/v Sky Globe
Dulac Maritime S.A.
Disclosure of subsidiaries
Country of Incorporation	Marshall Islands
Vessel Delivery Date	May 25, 2010
Vessel Owned	m/v Star Globe
Artful Shipholding S.A.
Disclosure of subsidiaries
Country of Incorporation	Marshall Islands
Vessel Delivery Date	June 22, 2011
Vessel Owned	m/v Moon Globe
Longevity Maritime Limited
Disclosure of subsidiaries
Country of Incorporation	Malta
Vessel Delivery Date	September 15, 2011
Vessel Owned	m/v Sun Globe
Serena Maritime Limited
Disclosure of subsidiaries
Country of Incorporation	Marshall Islands
Vessel Delivery Date	October 29, 2020
Vessel Owned	m/v Galaxy Globe
Talisman Maritime Limited
Disclosure of subsidiaries
Country of Incorporation	Marshall Islands
Vessel Delivery Date	-
Vessel Owned	-

Basis of Presentation and Gen_4

Basis of Presentation and General Information (Details)	12 Months Ended
	Dec. 31, 2020
Disclosure of non-adjusting events after reporting period [line items]
Domicile of entity	Marshall Islands
Description of nature of entity's operations and principal activities	The principal business of the Company is the ownership and operation of a fleet of dry bulk motor vessels (“m/v”), providing maritime services for the transportation of dry cargo products on a worldwide basis.

Basis of Preparation And Sign_3

Basis of Preparation And Significant Accounting Policies (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019
Basis of Preparation and Significant Accounting Policies [line items]
Working capital surplus/ (deficit)		$ 9,200,000	$ (3,242,000)
Accumulated deficit		$ (153,020,000)	(135,648,000)
Description of the nature of the benefits provided by the defined benefit plan		If the employee remains in the employment of the Company until normal retirement age, they are entitled to retirement compensation which is equal to 40% of the compensation amount that would be payable if they were dismissed at that time.
Net defined benefit liability		$ 31,000	26,000
Right of use asset		450,000	562,000
Lease liability		638,000	800,000
Depreciation charge for right-of-use assets		112,000	112,000	$ 0
Interest expense on lease liabilities		44,000	51,000	0
Revenue from rendering of services		11,753,000	15,623,000	17,354,000
Provision for doubtful trade receivables		0	23,000
Impairment loss		4,615,000	29,902,000
EnTrust
Basis of Preparation and Significant Accounting Policies [line items]
Borrowing costs capitalised		0	880,000	253,000
Cyberonica S.A.
Basis of Preparation and Significant Accounting Policies [line items]
Right of use asset		$ 450,000	562,000		$ 674,000
Lease liability					$ 674,000
Incremental cost of borrowing		8.00%
Depreciation charge for right-of-use assets		$ 112,000	112,000
Interest expense on lease liabilities		44,000	$ 51,000
Time charters leases
Basis of Preparation and Significant Accounting Policies [line items]
Revenue from rendering of services		8,985,000
Operating lease income		$ 2,768,000
Deferred dry docking costs
Basis of Preparation and Significant Accounting Policies [line items]
Depreciation method		straight-line basis
Interval between vessel drydockings / special surveys		2 years 6 months
Vessels
Basis of Preparation and Significant Accounting Policies [line items]
Depreciation method		straight-line basis
Vessels scrap rate per ton	$ 250	$ 300
Increase / (decrease) in depreciation expense due to changes in scrap rates				$ (178,000)
Useful life		25 years
Black-Scholes option pricing model
Basis of Preparation and Significant Accounting Policies [line items]
Expected dividend yield			0.00%
Historical volatility for shares, significant unobservable inputs, liabilities			85.00%
Risk free rate			1.59%
Weighted average share price			$ 0.99
Expected life			0,89 years
Monte Carlo simulation
Basis of Preparation and Significant Accounting Policies [line items]
Risk free rate			1.535%
Closing stock price			$ 0.99
Average logarithmic price change			(0.68%)
Assumed expected volatility rate			5.31%
Number of iterations			10,000
Remaining trading days			50
Floor price			$ 100

Cash and cash equivalents and_3

Cash and cash equivalents and Restricted cash (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and cash equivalents [abstract]
Cash on hand	$ 13	$ 10
Cash at banks	19,024	2,356
Total	$ 19,037	$ 2,366	$ 46	$ 2,756

Cash and cash equivalents and_4

Cash and cash equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [Line Items]
Fair value of cash and cash equivalents	$ 19,037	$ 2,366
Pledged cash	2,066
Fair value of restricted cash and cash equivalents	2,066
Fair value of non current restricted cash and cash equivalents	1,250	1,250
Fair value of current restricted cash and cash equivalents	816	1,185
Amended and restated agreement | Firment Shipping Inc.
Disclosure of detailed information about borrowings [Line Items]
Undrawn borrowing facilities	$ 14,200	$ 11,100

Transactions with Related Par_3

Transactions with Related Parties - Compensation to the Company's Non-Executive Directors (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of transactions between related parties [line items]
Share-based payments	$ 40	$ 40	$ 40
Non-Executive Directors
Disclosure of transactions between related parties [line items]
Director's remuneration	143	147	145
Share-based payments	40	40	40
Total	$ 183	$ 187	$ 185

Transactions with Related Par_4

Transactions with Related Parties - Compensation to the Company's Executive Director (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of transactions between related parties [line items]
Share-based payments	$ 40	$ 40	$ 40
Executive Director
Disclosure of transactions between related parties [line items]
Short-term employee benefits	1,772	224	235
Total	$ 1,772	$ 224	$ 235

Transactions with Related Par_5

Transactions with Related Parties (Details)	2 Months Ended	3 Months Ended	4 Months Ended	5 Months Ended	6 Months Ended	7 Months Ended	8 Months Ended		9 Months Ended	10 Months Ended	11 Months Ended		12 Months Ended
	Feb. 28, 2021USD ($)	Mar. 31, 2021USD ($)shares	Apr. 23, 2019USD ($)$ / sharesshares	Jun. 12, 2020USD ($)$ / sharesshares	Jun. 22, 2020shares	Jul. 27, 2020USD ($)shares	Aug. 18, 2016USD ($)	Aug. 18, 2016EUR (€)	Oct. 15, 2018	Oct. 21, 2020	Dec. 03, 2020EUR (€)	Nov. 30, 2018USD ($)	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2016EUR (€)	Jan. 01, 2021	Dec. 03, 2020USD ($)	May 08, 2020USD ($)	Jan. 01, 2019USD ($)
Disclosure of transactions between related parties [line items]
Consulting fees													$ 243,000	$ 191,000	$ 76,000
Borrowings													36,552,000	37,746,000
Interest expense													3,721,000	3,603,000	2,004,000
Proceeds from issuance of share capital													49,317,000	0	600,000
Shares issued during period | shares					342,857
Gains (losses) on change in fair value of derivatives													(1,647,000)	1,950,000	(131,000)
Repayments of debt													0	1,830,000	19,497,000
Issuance of new stocks													49,317,000
Issuance of preferred shares													$ 300,000
Voting Rights													Holders of the Company’s common shares and Class B shares have equivalent economic rights, but holders of Company’s common shares are entitled to one vote per share and holders of the Company’s Class B shares are entitled to twenty votes per share.
Proceeds from borrowings													$ 0	43,700,000	15,700,000
Right of use asset													450,000	562,000
Lease liability													638,000	800,000
Depreciation of right of use asset													112,000	112,000	0
Interest expense on lease liabilities													44,000	51,000	0
Reverse Stock Split Conversion Ratio									10	100
Loan Balance													37,000,000	38,487,000
Cyberonica S.A.
Disclosure of transactions between related parties [line items]
Monthly rental expense																$ 11,900	€ 10,360
Rental expense													141,000	139,000	147,000
Right of use asset																					$ 674,000
Lease liability																					$ 674,000
Depreciation of right of use asset													112,000	112,000
Interest expense on lease liabilities													44,000	51,000
Goldenmare Limited
Disclosure of transactions between related parties [line items]
Consulting fees							$ 224,000	€ 200,000			€ 400,000		1,772,000	224,000	$ 235,000
Amount of one-time cash bonus																			$ 1,500,000
Cash bonus payment	$ 1,000,000
Firment Shipping Inc.
Disclosure of transactions between related parties [line items]
Credit Facility, Maximum borrowing capacity												$ 15,000,000
Credit Facility, Drawn down amounts multiples												$ 100,000
Borrowings			$ 3,100,000
Accrued interest			$ 70,000
Interest expense													26,000	96,000
Shares issued during period | shares			11,322
Gains (losses) on change in fair value of derivatives			$ 117,000			$ 220,000							$ (189,000)	135,000
Par value per share | $ / shares			$ 0.04
Maturity date													Apr. 1, 2021
Interest rate												3.50%						7.00%
Default Interest Rate												2.00%
Conversion price | $ / shares			$ 280
Pricing period multiplied												80.00%
Repayments of current borrowings						$ 863,000
Loan Balance													$ 0	800,000
Firment Shipping Inc. | Amended and restated agreement
Disclosure of transactions between related parties [line items]
Credit Facility, Maximum borrowing capacity																				$ 14,200,000
Maturity date													Oct. 31, 2021
Undrawn borrowing facilities													$ 14,200,000	$ 11,100,000
Firment Shipping Inc. | Minimum
Disclosure of transactions between related parties [line items]
Proportion of ownership interests held by the controlling party													40.00%
Chief Executive Officer
Disclosure of transactions between related parties [line items]
Proportion of ownership interests held by the controlling party													0.40%	24.00%
Non-Executive Directors
Disclosure of transactions between related parties [line items]
Accrued compensation to directors													$ 80,000	$ 318,000
Executive Director
Disclosure of transactions between related parties [line items]
Accrued compensation to directors													$ 1,739,000	$ 556,000
Preferred shares
Disclosure of transactions between related parties [line items]
Par value per share | $ / shares													$ 0.001
Issuance of new stocks													$ 300,000
Preferred shares | Goldenmare Limited
Disclosure of transactions between related parties [line items]
Shares issued during period | shares		10,000		50		250
Par value per share | $ / shares				$ 0.001
Issuance of preferred shares		$ 130,000		$ 150,000		$ 150,000
Voting Rights													As of December 31, 2020, Goldenmare Limited owns 300 of the Company’s Series B preferred shares. Each Series B preferred share has 25,000 votes, provided that no holder of Series B preferred shares may exercise voting rights pursuant to Series B preferred shares that would result in the aggregate voting power of the beneficial owner of any such holder of Series B preferred shares, together with its affiliates, exceeding 49.99% of the total number of votes eligible to be cast on any matter submitted to a vote of shareholders.

Vessels, net - Consolidated Sta

Vessels, net - Consolidated Statement of Financial Position (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [line items]
Balance	$ 48,242
Additions/ Dry Docking Component	22,311	$ 676	$ 2,174
Impairment loss	(4,615)	(29,902)
Depreciation expense	(3,588)	(6,282)	(5,744)
Balance	62,350	48,242
Carrying Amount
Disclosure of detailed information about property, plant and equipment [line items]
Balance	48,242	83,750	87,320
Additions/ Dry Docking Component	22,311	676	2,174
Impairment loss	(4,615)	(29,902)
Depreciation expense	(3,588)	(6,282)	(5,744)
Balance	62,350	48,242	83,750
Vessels | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Balance	149,579	179,427	179,401
Additions/ Dry Docking Component	18,028	54	26
Impairment loss	(4,615)	(29,902)
Balance	162,992	149,579	179,427
Vessels | Accumulated depreciation, amortisation and impairment
Disclosure of detailed information about property, plant and equipment [line items]
Balance	(101,858)	(97,280)	(92,702)
Depreciation expense	(2,253)	(4,578)	(4,578)
Balance	(104,111)	(101,858)	(97,280)
Dry docking | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Balance	7,600	6,978	4,830
Additions/ Dry Docking Component	4,283	622	2,148
Balance	11,883	7,600	6,978
Dry docking | Accumulated depreciation, amortisation and impairment
Disclosure of detailed information about property, plant and equipment [line items]
Balance	(7,079)	(5,375)	(4,209)
Depreciation expense	(1,335)	(1,704)	(1,166)
Balance	$ (8,414)	$ (7,079)	$ (5,375)

Vessels, net - Consolidated S_2

Vessels, net - Consolidated Statement of Comprehensive Income (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Vessels, net [Abstract]
Vessels depreciation	$ 2,253	$ 4,578	$ 4,578
Depreciation on office furniture and equipment	33	31	23
Depreciation of right of use asset	112	112	0
Total	$ 2,398	$ 4,721	$ 4,601

Vessels, net - Impairment loss

Vessels, net - Impairment loss (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Impairment Loss And Reversal Of Impairment Loss [Line Items]
Impairment loss	$ (4,615)	$ (29,902)
m/v River Globe
Disclosure Of Impairment Loss And Reversal Of Impairment Loss [Line Items]
Impairment loss	(332)	(6,920)
m/v Sky Globe
Disclosure Of Impairment Loss And Reversal Of Impairment Loss [Line Items]
Impairment loss	(1,231)	(8,074)
m/v Star Globe
Disclosure Of Impairment Loss And Reversal Of Impairment Loss [Line Items]
Impairment loss	(460)	(7,197)
m/v Sun Globe
Disclosure Of Impairment Loss And Reversal Of Impairment Loss [Line Items]
Impairment loss	(2,013)	(4,797)
m/v Moon Globe
Disclosure Of Impairment Loss And Reversal Of Impairment Loss [Line Items]
Impairment loss	$ (579)	$ (2,914)

Vessels, net - Recoverable amou

Vessels, net - Recoverable amount (Table) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Disclosure of detailed information about property, plant and equipment [line items]
Recoverable amount	$ 48,242
m/v River Globe
Disclosure of detailed information about property, plant and equipment [line items]
Recoverable amount	7,752
m/v Sky Globe
Disclosure of detailed information about property, plant and equipment [line items]
Recoverable amount	8,971
m/v Star Globe
Disclosure of detailed information about property, plant and equipment [line items]
Recoverable amount	9,458
m/v Sun Globe
Disclosure of detailed information about property, plant and equipment [line items]
Recoverable amount	11,165
m/v Moon Globe
Disclosure of detailed information about property, plant and equipment [line items]
Recoverable amount	$ 10,896

Vessels, net (Details)

Vessels, net (Details) $ in Thousands	10 Months Ended	12 Months Ended
	Oct. 29, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Disclosure of detailed information about property, plant and equipment [line items]
Vessel acquisition		$ 18,474	$ 0	$ 0
Additions/ Dry Docking Component		$ 22,311	676	$ 2,174
Expected rate of inflation		1.00%
Weighted Average Cost Of Capital rate		4.06%
Time Period Considered		The Company used the historical ten-year blended average one-year time charter rates.
Impairment loss		$ 4,615	$ 29,902
Supramax
Disclosure of detailed information about property, plant and equipment [line items]
Vessel capacity		50,000
Expected fleet utilisation rate		87.00%
Panamax
Disclosure of detailed information about property, plant and equipment [line items]
Vessel capacity		70,000
Expected fleet utilisation rate		90.00%
Galaxy Globe
Disclosure of detailed information about property, plant and equipment [line items]
Vessel acquisition	$ 18,400
Additions/ Dry Docking Component	$ 500
Vessel capacity	81,167
Six dry bulk carriers
Disclosure of detailed information about property, plant and equipment [line items]
Vessel capacity		381,738

Inventories (Table) (Details)

Inventories (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Inventories [Abstract]
Lubricants	$ 319	$ 295
Gas cylinders	75	79
Bunkers	854	1,171
Total	$ 1,248	$ 1,545

Trade accounts payable (Details

Trade accounts payable (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Trade accounts payable [Abstract]
Trade accounts payable	$ 4,758	$ 4,735

Accrued liabilities and other_3

Accrued liabilities and other payables (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accrued liabilities and other payables [Abstract]
Accrued interest	$ 0	$ 307
Accrued audit fees	63	56
Other accruals	1,953	1,435
Insurance deductibles	96	132
Other payables	47	41
Total	$ 2,159	$ 1,971

Share Capital and Share Premi_3

Share Capital and Share Premium (Table) (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of classes of share capital [line items]
Value of shares authorised	$ 2,200	$ 2,200	$ 2,200
Common shares
Disclosure of classes of share capital [line items]
Value of shares authorised	$ 2,000	$ 2,000	$ 2,000
Number of shares authorised	500,000,000
Par value per share	$ 0.004	$ 0.004	$ 0.004
Class B Common shares
Disclosure of classes of share capital [line items]
Value of shares authorised	$ 100	$ 100	$ 100
Number of shares authorised	100,000,000
Par value per share	$ 0.001
Preferred shares
Disclosure of classes of share capital [line items]
Value of shares authorised	$ 100	$ 100	$ 100
Number of shares authorised	100,000,000
Par value per share	$ 0.001

Share Capital and Share Premi_4

Share Capital and Share Premium - Common Shares (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
USD
As at December 31	$ 0
Issuance of new common stocks	49,317
As at December 31	$ 12	$ 0
Common Shares issued and fully paid
Number of shares
As at December 31	52,235	32,057	31,594
Issued during the year for share based compensation (note 12)	2,812	180	88
Issuance of common stock due conversion of loan	11,678	19,998
Issuance of new common stocks	2,942,848
Issuance of common stock due to exercise of pre-funded warrants	25,000
Issuance of common stock due to exercise of warrants	5,550		375
As at December 31	3,040,123	52,235	32,057
USD
As at December 31	$ 0	$ 0	$ 0
Issuance of new common stocks	12
As at December 31	$ 12	$ 0	$ 0

Share Capital and Share Premi_5

Share Capital and Share Premium (Details) $ / shares in Units, $ in Thousands	Jan. 13, 2021shares	Feb. 12, 2021USD ($)$ / sharesshares	Jan. 27, 2021USD ($)$ / sharesshares	Jan. 31, 2018USD ($)shares	Feb. 08, 2017USD ($)$ / sharesshares	Mar. 31, 2021USD ($)shares	Apr. 23, 2019USD ($)$ / sharesshares	Jun. 12, 2020USD ($)$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 22, 2020USD ($)$ / sharesshares	Jul. 27, 2020USD ($)shares	Jul. 21, 2020USD ($)$ / sharesshares	Oct. 15, 2018shares	Oct. 21, 2020shares	Dec. 09, 2020shares	Dec. 07, 2020USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Oct. 20, 2020shares	Oct. 14, 2018shares
Disclosure of classes of share capital [line items]
Voting rights																	Holders of the Company’s common shares and Class B shares have equivalent economic rights, but holders of Company’s common shares are entitled to one vote per share and holders of the Company’s Class B shares are entitled to twenty votes per share.
Proceeds from issuance of share capital | $																	$ 49,317	$ 0	$ 600
Share premium | $																	195,102	145,527	140,347
Number of shares outstanding													3,206,495	1,756,720						175,675,651	32,065,077
Borrowings | $																	36,552	37,746
Issuance of common stock due to exercise of warrants | $																	194		600
Shares issued during period										342,857
Issuance of new common stocks | $																	49,317
Reverse Stock Split Conversion Ratio													10	100
Proceeds from exercise of Warrants | $																	194	$ 0	$ 0
Exercise price | $ / shares										$ 35
Transaction costs on issue of new common shares | $																	1,079
Issuance of preferred shares | $																	$ 300
Class A Warrants
Disclosure of classes of share capital [line items]
Issuance of common stock due to exercise of warrants																	5,550
Number of outstanding warrants																	388,700
Par value per share | $ / shares																	$ 0.004
Number of shares called by warrants																	388,700
Proceeds from exercise of Warrants | $																	$ 194
PP Warrants
Disclosure of classes of share capital [line items]
Number of outstanding warrants																	1,291,833
Shares issued during period									458,500			833,333
Par value per share | $ / shares									$ 27			$ 18
Number of shares called by warrants									458,500			833,333					1,291,833
Proceeds from exercise of Warrants | $									$ 11,513			$ 13,950
Exercise price | $ / shares									$ 18			$ 18
Pre-funded warrants
Disclosure of classes of share capital [line items]
Issuance of common stock due to exercise of warrants	130,000
Number of outstanding warrants																	130,000
Number of shares called by warrants																	130,000
Proceeds from exercise of Warrants | $																	$ 250
December Warrants
Disclosure of classes of share capital [line items]
Number of outstanding warrants																	1,270,587
Number of shares called by warrants																	1,270,587
February 2017 Private Placement
Disclosure of classes of share capital [line items]
Proceeds from issuance of share capital | $					$ 5,000
Number of shares sold					500,000
Number of warrants exercised				375
Proceeds from warrant exercises | $				$ 600
Par value per share | $ / shares					$ 0.004
Number of shares called by warrants					25,000
Warrants exercise price | $ / shares					$ 1,600
Class B common shares
Disclosure of classes of share capital [line items]
Number of shares outstanding																	0	0	0
Common shares
Disclosure of classes of share capital [line items]
Increase/decrease in number of ordinary shares issued through share based payment transactions																	2,812	180	88
Issuance of common stock due to exercise of warrants																	5,550		375
Par value per share | $ / shares																	$ 0.004	$ 0.004	$ 0.004
Issuance of new common stocks | $																	$ 12
Issuance of new common stocks																	2,942,848
Preferred shares
Disclosure of classes of share capital [line items]
Par value per share | $ / shares																	$ 0.001
Issuance of new common stocks | $																	$ 300
Firment Shipping Inc.
Disclosure of classes of share capital [line items]
Borrowings | $							$ 3,100
Conversion price | $ / shares							$ 280
Shares issued during period							11,322
Par value per share | $ / shares							$ 0.04
Accrued interest | $							$ 70
Goldenmare Limited | Preferred shares
Disclosure of classes of share capital [line items]
Voting rights																	As of December 31, 2020, Goldenmare Limited owns 300 of the Company’s Series B preferred shares. Each Series B preferred share has 25,000 votes, provided that no holder of Series B preferred shares may exercise voting rights pursuant to Series B preferred shares that would result in the aggregate voting power of the beneficial owner of any such holder of Series B preferred shares, together with its affiliates, exceeding 49.99% of the total number of votes eligible to be cast on any matter submitted to a vote of shareholders.
Shares issued during period						10,000		50			250
Par value per share | $ / shares								$ 0.001
Issuance of preferred shares | $						$ 130		$ 150			$ 150
Maxim Group LLC
Disclosure of classes of share capital [line items]
Shares issued during period										51,393
Par value per share | $ / shares										$ 0.004
Number of shares called by warrants										51,393
Proceeds from exercise of Warrants | $										$ 12,695
Warrant life in years										5
Maxim Group LLC | 45-day option
Disclosure of classes of share capital [line items]
Shares issued during period										51,429
Par value per share | $ / shares										$ 0.004
Number of shares called by warrants										51,429
Institutional investors
Disclosure of classes of share capital [line items]
Proceeds from issuance of share capital | $		$ 27,891	$ 15,108													$ 11,159
Shares issued during period		3,850,000	2,155,000												1,256,765
Par value per share | $ / shares		$ 0.004	$ 0.004
Transaction costs on issue of new common shares | $		$ 160	$ 150
Institutional investors | Pre-funded warrants
Disclosure of classes of share capital [line items]
Par value per share | $ / shares		$ 0.004	$ 0.004													$ 0.004
Number of shares called by warrants		950,000	445,000													155,000
Institutional investors | December Warrants
Disclosure of classes of share capital [line items]
Number of shares called by warrants																1,270,587
Exercise price | $ / shares																$ 8.5
Convertible Note
Disclosure of classes of share capital [line items]
Borrowings | $																	$ 1,168	$ 1,789
Conversion price | $ / shares																	$ 100
Shares issued during period																	11,678	8,676
Par value per share | $ / shares																	$ 0.004	$ 0.004
Accrued interest | $																		$ 97

Loss per Share (Table) (Details

Loss per Share (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Loss per share [abstract]
Loss attributable to common equity holders	$ (17,372)	$ (36,351)	$ (3,568)
Weighted average number of shares for basic and diluted LPS	959,157	41,622	31,972

Long-Term Debt, net (Table) (De

Long-Term Debt, net (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [Line Items]
Loan Balance	$ 37,000	$ 38,487
Loan Balance - Current Portion	(5,970)	(1,487)
Loan Balance - Long-Term Portion	31,030	37,000
Unamortized Debt Discount	(448)	(741)
Unamortized Debt Discount- Current Portion	305	292
Unamortized Debt Discount - Long-Term Portion	(143)	(449)
Total Borrowings	36,552	37,746
Total Borrowings - Current Portion	(5,665)	(1,195)
Total Borrowings - Long-Term Portion	30,887	36,551
Firment Shipping Inc.
Disclosure of detailed information about borrowings [Line Items]
Loan Balance		$ 800
Devocean Maritime LTD., Domina Maritime LTD., Dulac Maritime S.A., Artful Shipholding S.A. & Longevity Maritime Limited
Disclosure of detailed information about borrowings [Line Items]
Loan Balance	37,000
Unamortized Debt Discount	(448)
Total Borrowings	$ 36,552

Long-Term Debt, net - Annual Lo

Long-Term Debt, net - Annual Loan Principal Payments (Table) (Details) - USD ($) $ in Thousands	Mar. 23, 2021	Dec. 31, 2020	Dec. 31, 2019	Mar. 13, 2019
Disclosure of detailed information about borrowings [Line Items]
Loan Balance		$ 37,000	$ 38,487
EnTrust
Disclosure of detailed information about borrowings [Line Items]
Loan Balance	$ 31,000	37,000	37,000
Firment Shipping Inc.
Disclosure of detailed information about borrowings [Line Items]
Loan Balance			800
Convertible Note
Disclosure of detailed information about borrowings [Line Items]
Loan Balance			3,309	$ 1,783
Not later than one year
Disclosure of detailed information about borrowings [Line Items]
Loan Balance			4,109
Not later than one year | EnTrust
Disclosure of detailed information about borrowings [Line Items]
Loan Balance		5,970	0
Not later than one year | Firment Shipping Inc.
Disclosure of detailed information about borrowings [Line Items]
Loan Balance			800
Not later than one year | Convertible Note
Disclosure of detailed information about borrowings [Line Items]
Loan Balance			3,309
Later than one year and not later than two years
Disclosure of detailed information about borrowings [Line Items]
Loan Balance			5,970
Later than one year and not later than two years | EnTrust
Disclosure of detailed information about borrowings [Line Items]
Loan Balance		31,030	5,970
Later than two years
Disclosure of detailed information about borrowings [Line Items]
Loan Balance			31,030
Later than two years | EnTrust
Disclosure of detailed information about borrowings [Line Items]
Loan Balance		$ 0	$ 31,030

Long-Term Debt, Net - EnTrust L

Long-Term Debt, Net - EnTrust Loan Agreement (Details) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2019USD ($)	Jun. 24, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Disclosure of detailed information about borrowings [Line Items]
Proceeds from borrowings			$ 0	$ 43,700	$ 15,700
Borrowings			36,552	37,746
Pledged cash			$ 2,066
EnTrust
Disclosure of detailed information about borrowings [Line Items]
Loan Facility, Maximum borrowing capacity	$ 37,000
Borrowings, interest rate basis	Libor
Borrowings, adjustment to interest rate basis	8.50%
Default Interest Rate	10.50%
Proceeds from borrowings		$ 37,000
Debt Instrument Covenant Description			Each Borrower shall maintain in its earnings account during a “Cash Sweep Period”, which is the period commencing on the relevant Utilisation Date and ending on September 30, 2019 and each three-month period thereafter commencing on January 1, April 1, July 1 and October 1 in each financial year of that Borrower, with the last such three-month period commencing on June 30, 2020 and ending on September 30, 2020, the applicable “Buffer Amount”, which is in relation to a Borrower for a Cash Sweep Period, the product of: (a) an amount equal to the lower of: (i) $1,000; and (ii) the difference between the daily time charter equivalent rate of the Ship owned by that Borrower, as evidenced in the management accounts, and the “Break-Even Expenses”, as described in the loan agreement, of that ship for that Cash Sweep Period; and (b) the actual number of days lapsed during that Cash Sweep Period for that Borrower. No Borrower shall incur or permit to be outstanding any Financial Indebtedness except “Permitted Financial Indebtedness”. "Permitted Financial Indebtedness" means: (a) any Financial Indebtedness incurred under the Finance Documents; (b) any Financial Indebtedness that is subordinated to all Financial Indebtedness incurred under the Finance Documents pursuant to a Subordination Agreement or otherwise and which is, in the case of any such Financial Indebtedness of the Borrower, the subject of Subordinated Debt Security; and (c) any “Permitted Trade Debt”, which is defined as any trade debt on arm's length commercial terms reasonably incurred in the ordinary course of owning, operating, trading, chartering, maintaining and repairing a Ship which remains unpaid for over 15 days of its due date and which does not exceeds $400 (or the equivalent in any other currency) per Ship at any relevant time
Borrowing costs capitalised			$ 0	$ 880	$ 253
EnTrust | Tranche A
Disclosure of detailed information about borrowings [Line Items]
Borrowings			$ 6,375
Borrowings Number Of Periodic Payments			6
Borrowings Frequency Of Periodic Payment			quarterly
Periodic payment			$ 266
Balloon Payment to be Paid			$ 4,779
Borrowings, maturity			June 2022
EnTrust | Tranche B
Disclosure of detailed information about borrowings [Line Items]
Borrowings			$ 7,375
Borrowings Number Of Periodic Payments			6
Borrowings Frequency Of Periodic Payment			quarterly
Periodic payment			$ 230
Balloon Payment to be Paid			$ 5,995
Borrowings, maturity			June 2022
EnTrust | Tranche C
Disclosure of detailed information about borrowings [Line Items]
Borrowings			$ 7,750
Borrowings Number Of Periodic Payments			6
Borrowings Frequency Of Periodic Payment			quarterly
Periodic payment			$ 215
Balloon Payment to be Paid			$ 6,460
Borrowings, maturity			June 2022
EnTrust | Tranche D
Disclosure of detailed information about borrowings [Line Items]
Borrowings			$ 6,500
Borrowings Number Of Periodic Payments			6
Borrowings Frequency Of Periodic Payment			quarterly
Periodic payment			$ 406
Balloon Payment to be Paid			$ 4,064
Borrowings, maturity			June 2022
EnTrust | Tranche E
Disclosure of detailed information about borrowings [Line Items]
Borrowings			$ 9,000
Borrowings Number Of Periodic Payments			6
Borrowings Frequency Of Periodic Payment			quarterly
Periodic payment			$ 375
Balloon Payment to be Paid			$ 6,750
Borrowings, maturity			June 2022
EnTrust | Borrower B, C and D
Disclosure of detailed information about borrowings [Line Items]
Debt Instrument Covenant Description			Each of Borrower B, Borrower C and Borrower D shall create a reserve fund in the Reserve Account to meet the anticipated dry docking and special survey fees and expenses for the Ship owned by it, by maintaining in the Reserve Account a minimum credit balance (the "Accruing Dry Docking and Special Survey Reserves") which may not be withdrawn (other than for the purpose of covering the documented and incurred costs and expenses for the next special survey of that Ship), in an amount equal to, at each Quarter End Date, the product of: (i) $500; and (ii) the number of days elapsed from the relevant Utilisation Date such Quarter End Date, and that Borrower shall ensure that the credit balance of the Reserve Account shall be increased to meet the required amount of the Accruing Dry Docking and Special Survey Reserves by no later than each Quarter End Date.
EnTrust | Borrower A and E
Disclosure of detailed information about borrowings [Line Items]
Debt Instrument Covenant Description			Each of Borrower A and Borrower E shall deposit on the relevant Utilisation Date in the Reserve Account to meet the anticipated dry docking and special survey fees and expenses for Ship which is owned by it, a minimum credit balance in an amount equal to $450 which may not be withdrawn (other than for the purpose of covering the documented and incurred costs and expenses for the next special survey of that Ship).
Cash Segregated Under Covenant Requirements			$ 450
EnTrust | Minimum
Disclosure of detailed information about borrowings [Line Items]
Compensating Balance, Amount per vessel			$ 250
Liquidity to indebtedness ratio			5.00%

Long-Term Debt, Net - Firment S

Long-Term Debt, Net - Firment Shipping Inc. and Convertible Note (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	4 Months Ended	6 Months Ended		7 Months Ended	11 Months Ended	12 Months Ended
	Mar. 13, 2019	Apr. 23, 2019	Jun. 25, 2020	Jun. 22, 2020	Jul. 27, 2020	Nov. 30, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2021	May 08, 2020
Disclosure of detailed information about borrowings [Line Items]
Proceeds from borrowings							$ 0	$ 43,700	$ 15,700
Long-term borrowings, net of current portion							30,887	36,551
Borrowings							36,552	37,746
Loan Balance							37,000	38,487
Shares issued during period				342,857
Gain/(Loss) on derivative financial instruments							$ (1,647)	1,950	$ (131)
Firment Shipping Inc.
Disclosure of detailed information about borrowings [Line Items]
Loan Facility, Maximum borrowing capacity						$ 15,000
Line Of Credit Facility Drawndown Amounts Multiples						$ 100
Borrowings, maturity							Apr. 1, 2021
Interest rate						3.50%				7.00%
Default Interest Rate						2.00%
Pricing period multiplied						80.00%
Conversion price		$ 280
Long-term borrowings, net of current portion								307
Fair value of derivative financial instruments, net of current portion								524
Borrowings		$ 3,100
Accrued interest		$ 70
Loan Balance							$ 0	800
Shares issued during period		11,322
Gain/(Loss) on derivative financial instruments		$ 117			$ 220		$ (189)	$ 135
Repayments of current borrowings					$ 863
Weighted average
Disclosure of detailed information about borrowings [Line Items]
Interest rate							9.44%	8.66%
Minimum | Firment Shipping Inc.
Disclosure of detailed information about borrowings [Line Items]
Proportion of ownership interests held by the controlling party							40.00%
Convertible Note
Disclosure of detailed information about borrowings [Line Items]
Conversion price							$ 100
Debt instruments issued	$ 5,000
Debt Instrument, Interest Rate, Stated Percentage	10.00%
Line of Credit Facility, Frequency of Payment and Payment Terms	annually
Proceeds from borrowings	$ 5,000
Long-term borrowings, net of current portion								$ 1,180
Fair value of derivative financial instruments, net of current portion	3,217							98
Borrowings							$ 1,168	1,789
Notional amount								1,691
Accrued interest								97
Loan Balance	$ 1,783							$ 3,309
Shares issued during period							11,678	8,676
Gain/(Loss) on derivative financial instruments			$ (1,343)					$ 1,815
Repayment of notes			$ 2,528
Amended and restated agreement | Firment Shipping Inc.
Disclosure of detailed information about borrowings [Line Items]
Loan Facility, Maximum borrowing capacity											$ 14,200
Borrowings, maturity							Oct. 31, 2021
Undrawn borrowing facilities							$ 14,200	$ 11,100

Share Based Payment (Table) (De

Share Based Payment (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of terms and conditions of share-based payment arrangement [line items]
Stock issued during the year (value) - Share based compensation	$ 40	$ 40	$ 50
Number of common shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Stock issued during the year (shares) - Share based compensation	2,812	180	88
Number of common shares | Non-executive directors' payment
Disclosure of terms and conditions of share-based payment arrangement [line items]
Stock issued during the year (shares) - Share based compensation	2,812	180	88	[1]
Share Premium
Disclosure of terms and conditions of share-based payment arrangement [line items]
Stock issued during the year (value) - Share based compensation	$ 40	$ 40	$ 50
Share Premium | Non-executive directors' payment
Disclosure of terms and conditions of share-based payment arrangement [line items]
Stock issued during the year (value) - Share based compensation	$ 40	$ 40	$ 50
[1]	These amounts relate to the shares issued in 2017, not to the shares approved for issuance for the year.

Voyage Expenses and Vessel Op_3

Voyage Expenses and Vessel Operating Expenses - Voyage Expenses (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Voyage Expenses and Vessel Operating Expenses [Abstract]
Commissions	$ 160	$ 224	$ 281
Bunkers expenses	2,117	1,634	716
Other voyage expenses	213	240	191
Total	$ 2,490	$ 2,098	$ 1,188

Voyage Expenses and Vessel Op_4

Voyage Expenses and Vessel Operating Expenses - Vessel operating expenses (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Voyage Expenses and Vessel Operating Expenses [Abstract]
Crew wages and related costs	$ 4,865	$ 4,670	$ 4,766
Insurance	661	664	607
Spares, repairs and maintenance	1,574	1,884	2,721
Lubricants	434	517	501
Stores	787	820	1,000
Other	260	327	330
Total	$ 8,581	$ 8,882	$ 9,925

Administrative Expenses (Table)

Administrative Expenses (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Administrative Expenses [Abstract]
Personnel expenses	$ 1,013	$ 1,006	$ 778
Audit fees	143	98	103
Travelling expenses	1	3	5
Consulting fees	243	191	76
Communication	12	7	9
Stationery	3	2	2
Greek tax authorities (note 19)	130	116	118
Other	346	160	265
Total	$ 1,891	$ 1,583	$ 1,356

Interest Expense and Finance _3

Interest Expense and Finance Costs (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest Expense and Finance Costs [Abstract]
Interest payable on long-term borrowings	$ 3,721	$ 3,603	$ 2,004
Bank charges	69	28	29
Amortization of debt discount	293	383	23
Operating lease liability interest	44	51	0
Other finance expenses	28	638	0
Total	$ 4,155	$ 4,703	$ 2,056

Dividends (Details)

Dividends (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Dividends Payable [Line Items]
Dividends paid	$ 0	$ 0	$ 0

Commitments (Table) (Details)

Commitments (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items]
Total	$ 3,078	$ 0
Within one year
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items]
Total	$ 3,078	$ 0

Commitments (Details)

Commitments (Details)	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)€ / $	Dec. 31, 2016USD ($)	Dec. 31, 2016EUR (€)	Jan. 01, 2019USD ($)
Disclosure of transactions between related parties [line items]
Euro: US dollar exchange rate | € / $			1.14
Right of use asset	$ 450,000	$ 562,000
Lease liability	638,000	800,000
Depreciation of right of use asset	112,000	112,000	$ 0
Interest expense on lease liabilities	44,000	51,000	0
Current lease liabilities	195,000	208,000
Non-current lease liabilities	367,000	469,000
Minimum lease payments			$ 850,000
Cyberonica S.A.
Disclosure of transactions between related parties [line items]
Monthly rental expense				$ 11,900	€ 10,360
Right of use asset						$ 674,000
Lease liability						$ 674,000
Depreciation of right of use asset	112,000	112,000
Interest expense on lease liabilities	$ 44,000	$ 51,000

Income Tax (Details)

Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax [abstract]
Greek tax authorities (note 19)	$ 130	$ 116	$ 118

Financial risk management obj_3

Financial risk management objectives and policies - Interest rate risk (Table) (Details) - Interest rate risk $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of risk management strategy related to hedge accounting [line items]
Increase in Libor	15	15
Decrease in Libor	(20)	(20)
Effect on loss (Decrease in Libor)	$ 75	$ 73
Effect on loss (Increase in Libor)	$ (57)	$ (55)

Financial risk management obj_4

Financial risk management objectives and policies - Foreign currency risk (Table) (Details) - Currency risk - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of risk management strategy related to hedge accounting [line items]
Increase in Euro exchange rate	10.00%	10.00%
Decrease in Euro exchange rate	(10.00%)	(10.00%)
Effect on loss (Decrease in Euro exchange rate)	$ 258	$ 255
Effect on loss (Increase in Euro exchange rate)	$ (258)	$ (255)

Financial risk management obj_5

Financial risk management objectives and policies - Concentration of credit risk (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of credit risk exposure [line items]
Revenue	$ 11,753	$ 15,623	$ 17,354
Percentage of entity's revenue	100.00%	100.00%	100.00%
A
Disclosure of credit risk exposure [line items]
Revenue	$ 751	$ 3,476	$ 3,679
Percentage of entity's revenue	6.00%	22.00%	21.00%
B
Disclosure of credit risk exposure [line items]
Revenue	$ 0	$ 0	$ 2,873
Percentage of entity's revenue	0.00%	0.00%	17.00%
Other
Disclosure of credit risk exposure [line items]
Revenue	$ 11,002	$ 12,147	$ 10,802
Percentage of entity's revenue	94.00%	78.00%	62.00%

Financial risk management obj_6

Financial risk management objectives and policies - Liquidity risk (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial liabilities [line items]
Long-term debt	$ 41,416	$ 50,697
Lease liabilities	638	800
Accrued liabilities and other payables	2,159	1,971
Trade accounts payable	4,758	4,735
Total	48,971	58,203
Less than 3 months
Disclosure of financial liabilities [line items]
Long-term debt	2,302	4,674
Lease liabilities	106	126
Accrued liabilities and other payables	2,159	1,971
Trade accounts payable	4,758	4,735
Total	9,325	11,506
3 to 12 months
Disclosure of financial liabilities [line items]
Long-term debt	6,752	3,776
Lease liabilities	106	106
Accrued liabilities and other payables	0	0
Trade accounts payable	0	0
Total	6,858	3,882
1 to 5 years
Disclosure of financial liabilities [line items]
Long-term debt	32,362	42,247
Lease liabilities	426	567
Accrued liabilities and other payables	0	0
Trade accounts payable	0	0
Total	32,788	42,814
More than 5 years
Disclosure of financial liabilities [line items]
Long-term debt	0	0
Lease liabilities	0	1
Accrued liabilities and other payables	0	0
Trade accounts payable	0	0
Total	$ 0	$ 1

Financial risk management obj_7

Financial risk management objectives and policies - Capital management 1 (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financial risk management objectives and policies [abstract]
Interest bearing loans	$ 37,000	$ 38,487
Cash (including restricted cash)	(21,103)	(4,801)
Net debt	15,897	33,686
Equity	42,094	9,879	$ 41,050	$ 43,968
Adjustment for the market value of vessels (charter-free)	493	(2,902)
Adjusted book capitalization	42,587	6,977
Adjusted book capitalization plus net debt	$ 58,484	$ 40,663
Ratio	27.00%	83.00%

Financial risk management obj_8

Financial risk management objectives and policies - Capital management 2 (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financial risk management objectives and policies [abstract]
Debt in accordance with IFRS (long and short-term borrowings)	$ 36,552	$ 37,746
Add: Unamortized debt discount	448	741
Interest bearing loans	37,000	38,487
Less: Cash and bank balances and bank deposits (including restricted cash)	21,103	4,801
Net debt	$ 15,897	$ 33,686

Financial risk management obj_9

Financial risk management objectives and policies (Details)	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about financial instruments [line items]
Borrowings, Percentage Bearing Fixed Interest, Percentage Rate		10.00%
Net debt to adjusted book capitalisation plus net debt ratio	27.00%	83.00%
Minimum
Disclosure of detailed information about financial instruments [line items]
Net debt to adjusted book capitalisation plus net debt ratio	60.00%
Maximum
Disclosure of detailed information about financial instruments [line items]
Net debt to adjusted book capitalisation plus net debt ratio	80.00%

Fair values (Table) (Details)

Fair values (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of fair value measurement of assets [line items]
Vessels (see also note 5)	$ 62,350	$ 48,242
Long -term borrowings	37,000	38,487
Financial liabilities	48,971	58,203
At fair value | Non-financial assets at fair value
Disclosure of fair value measurement of assets [line items]
Vessels (see also note 5)		37,346
Non-financial assets at fair value		37,346
At fair value | Non-financial assets at fair value | Level 1
Disclosure of fair value measurement of assets [line items]
Vessels (see also note 5)		37,346
At fair value | Financial liabilities measured at fair value
Disclosure of fair value measurement of assets [line items]
Derivative financial instruments		622
Financial Liabilities at fair value		622
At fair value | Financial liabilities measured at fair value | Level 3
Disclosure of fair value measurement of assets [line items]
Derivative financial instruments		622
Financial liabilities not measured at fair value
Disclosure of fair value measurement of assets [line items]
Long -term borrowings	37,000	38,487
Financial liabilities	37,000	38,487
Financial liabilities not measured at fair value | Level 2
Disclosure of fair value measurement of assets [line items]
Long -term borrowings	$ 37,961	$ 39,853

Events after the reporting da_2

Events after the reporting date (Details) $ / shares in Units, $ in Thousands	Jan. 13, 2021shares	Feb. 12, 2021USD ($)$ / sharesshares	Jan. 27, 2021USD ($)$ / sharesshares	Feb. 18, 2021USD ($)	Mar. 31, 2021USD ($)shares	Mar. 23, 2021USD ($)	Mar. 19, 2021USD ($)	Jun. 12, 2020USD ($)$ / sharesshares	Jun. 22, 2020$ / sharesshares	Jun. 30, 2019USD ($)	Jul. 27, 2020USD ($)shares	Dec. 09, 2020shares	Dec. 07, 2020USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Disclosure of non-adjusting events after reporting period [line items]
Issuance of preferred shares														$ 300
Shares issued during period | shares									342,857
Exercise price | $ / shares									$ 35
Vessel acquisition														18,474	$ 0	$ 0
Proceeds from issuance of share capital														49,317	0	600
Transaction costs on issue of new common shares														1,079
Prepayment of long-term debt														3,040	33,833	$ 0
Loan Balance														37,000	38,487
Nord Venus
Disclosure of non-adjusting events after reporting period [line items]
Vessel capacity				80,655
Yangze 11
Disclosure of non-adjusting events after reporting period [line items]
Vessel capacity							82,027
Vessel acquisition							$ 27,000
EnTrust
Disclosure of non-adjusting events after reporting period [line items]
Borrowings, interest rate basis										Libor
Borrowings, adjustment to interest rate basis										8.50%
Loan Facility, Maximum borrowing capacity										$ 37,000
Prepayment of long-term debt						$ 6,000
Loan Balance						$ 31,000								$ 37,000	$ 37,000
Financial Institution
Disclosure of non-adjusting events after reporting period [line items]
Borrowings, interest rate basis					Libor
Borrowings, adjustment to interest rate basis					3.75%
Loan Facility, Maximum borrowing capacity					$ 34,250
Preferred shares
Disclosure of non-adjusting events after reporting period [line items]
Par value per share | $ / shares														$ 0.001
Pre-funded warrants
Disclosure of non-adjusting events after reporting period [line items]
Number of shares called by warrants | shares														130,000
Issuance of common stock due to exercise of warrants | shares	130,000
Delivery date up to May 31, 2021 | Nord Venus
Disclosure of non-adjusting events after reporting period [line items]
Vessel acquisition				$ 16,500
Delivery date between June 1, 2021 and August 15, 2021 | Nord Venus
Disclosure of non-adjusting events after reporting period [line items]
Vessel acquisition				$ 16,200
Goldenmare Limited | Preferred shares
Disclosure of non-adjusting events after reporting period [line items]
Par value per share | $ / shares								$ 0.001
Issuance of preferred shares					$ 130			$ 150			$ 150
Shares issued during period | shares					10,000			50			250
Institutional investors
Disclosure of non-adjusting events after reporting period [line items]
Par value per share | $ / shares		$ 0.004	$ 0.004
Shares issued during period | shares		3,850,000	2,155,000									1,256,765
Proceeds from issuance of share capital		$ 27,891	$ 15,108										$ 11,159
Transaction costs on issue of new common shares		$ 160	$ 150
Institutional investors | Pre-funded warrants
Disclosure of non-adjusting events after reporting period [line items]
Par value per share | $ / shares		$ 0.004	$ 0.004										$ 0.004
Number of shares called by warrants | shares		950,000	445,000										155,000
Institutional investors | January 2021 Warrants
Disclosure of non-adjusting events after reporting period [line items]
Par value per share | $ / shares			$ 0.004
Number of shares called by warrants | shares			1,950,000
Exercise price | $ / shares			$ 6.25
Institutional investors | February 2021 Warrants
Disclosure of non-adjusting events after reporting period [line items]
Par value per share | $ / shares		$ 0.004
Number of shares called by warrants | shares		4,800,000
Exercise price | $ / shares		$ 6.25