Globus Maritime Limited (GLBS) 20-F 11 Apr 22 2021 FY Annual report (foreign) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2021shares
Entity Addresses [Line Items]
Document Type	20-F
Amendment Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	001-34985
Entity Registrant Name	Globus Maritime Limited
Entity Central Index Key	0001499780
Entity Incorporation, State or Country Code	1T
Entity Address, Address Line One	128 Vouliagmenis Ave., 3rd Floor
Entity Address, City or Town	Glyfada, Attica
Entity Address, Country	GR
Entity Address, Postal Zip Code	166 74
Title of 12(b) Security	Common Shares, par value $0.004 per share
Trading Symbol	GLBS
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	20,582,301
ICFR Auditor Attestation Flag	true
Auditor Firm ID	1457
Auditor Name	Ernst & Young (Hellas) Certified Auditors Accountants S.A.
Auditor Location	Athens, Greece
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	128 Vouliagmenis Ave., 3rd Floor
Entity Address, City or Town	Glyfada, Attica
Entity Address, Country	GR
Entity Address, Postal Zip Code	166 74
City Area Code	+30
Local Phone Number	210 960 8300
Contact Personnel Name	Athanasios Feidakis

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income/(Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
REVENUE:
Voyage revenues	$ 43,211	$ 11,753	$ 15,623
Management & consulting fee income	170	0	0
Total Revenues	43,381	11,753	15,623
EXPENSES & OTHER OPERATING INCOME:
Voyage expenses	(1,128)	(2,490)	(2,098)
Vessel operating expenses	(13,808)	(8,581)	(8,882)
Depreciation	(3,910)	(2,398)	(4,721)
Depreciation of dry-docking costs	(2,751)	(1,335)	(1,704)
Administrative expenses	(2,610)	(1,891)	(1,583)
Administrative expenses payable to related parties	(1,361)	(1,915)	(371)
Share-based payments	(40)	(40)	(40)
Impairment loss	0	(4,615)	(29,902)
Other income, net	171	89	29
Operating income/(loss)	17,944	(11,423)	(33,649)
Interest income	8	16	47
Interest expense and finance costs	(3,262)	(4,155)	(4,703)
Gain/(loss) on derivative financial instruments	181	(1,647)	1,950
Foreign exchange gains/(losses), net	79	(163)	4
TOTAL INCOME/(LOSS) FOR THE YEAR	14,950	(17,372)	(36,351)
Other Comprehensive Income	0	0	0
TOTAL COMPREHENSIVE INCOME/(LOSS) FOR THE YEAR	$ 14,950	$ (17,372)	$ (36,351)
Earnings/(Loss) per share (U.S.$):
- Basic and Diluted income/(loss) per share for the year	$ 1.01	$ (18.11)	$ (873.36)

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
NON-CURRENT ASSETS
Vessels, net	$ 130,724	$ 62,350
Office furniture and equipment	97	100
Right of use asset	888	450
Restricted cash	3,576	1,250
Fair value of derivative financial instruments	417	0
Other non-current assets	10	10
Total non-current assets	135,712	64,160
CURRENT ASSETS
Trade accounts receivable	1,003	153
Inventories	852	1,248
Prepayments and other assets	1,224	1,027
Restricted cash	1,648	816
Cash and cash equivalents	45,213	19,037
Total current assets	49,940	22,281
TOTAL ASSETS	185,652	86,441
EQUITY
Issued share capital	82	12
Share premium	284,406	195,102
Accumulated deficit	(138,070)	(153,020)
Total equity	146,418	42,094
NON-CURRENT LIABILITIES
Long-term borrowings, net of current portion	26,438	30,887
Provision for staff retirement indemnities	114	31
Lease liabilities	556	367
Total non-current liabilities	27,108	31,285
CURRENT LIABILITIES
Current portion of long-term borrowings	4,865	5,665
Trade accounts payable	1,100	4,758
Accrued liabilities and other payables	3,676	2,159
Current portion of lease liabilities	349	195
Fair value of derivative financial instruments	92	0
Deferred revenue	2,044	285
Total current liabilities	12,126	13,062
TOTAL LIABILITIES	39,234	44,347
TOTAL EQUITY AND LIABILITIES	$ 185,652	$ 86,441

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Issued capital [member]	Share premium [member]	Accumulated Deficit [member]	Total [member]
Balance at Dec. 31, 2018	$ 0	$ 140,347	$ (99,297)	$ 41,050
Income / (Loss) for the year	0	0	(36,351)	(36,351)
Other comprehensive income	0	0	0	0
TOTAL COMPREHENSIVE INCOME/(LOSS) FOR THE YEAR	0	0	(36,351)	(36,351)
Share-based payments (note 12)	0	40	0	40
Issuance of common stock due to conversion (note 11)	0	5,140	0	5,140
Balance at Dec. 31, 2019	0	145,527	(135,648)	9,879
Income / (Loss) for the year	0	0	(17,372)	(17,372)
Other comprehensive income	0	0	0	0
TOTAL COMPREHENSIVE INCOME/(LOSS) FOR THE YEAR	0	0	(17,372)	(17,372)
Share-based payments (note 12)	0	40	0	40
Issuance of common stock due to conversion (note 11)	0	815	0	815
Issuance of new common shares (Note 9)	12	49,305	0	49,317
Issuance of new common shares due to exercise of Warrants (Note 9)	0	194	0	194
Issuance of Class B preferred shares (Note 4)	0	300	0	300
Transaction costs on issue of new common shares (Note 9)	0	(1,079)	0	(1,079)
Balance at Dec. 31, 2020	12	195,102	(153,020)	42,094
Income / (Loss) for the year	0	0	14,950	14,950
Other comprehensive income	0	0	0	0
TOTAL COMPREHENSIVE INCOME/(LOSS) FOR THE YEAR	0	0	14,950	14,950
Share-based payments (note 12)	0	40	0	40
Issuance of new common shares (Note 9)	60	89,520	0	89,580
Issuance of new common shares due to exercise of Warrants (Note 9)	10	15	0	25
Issuance of Class B preferred shares (Note 4)	0	130	0	130
Transaction costs on issue of new common shares (Note 9)	0	(401)	0	(401)
Balance at Dec. 31, 2021	$ 82	$ 284,406	$ (138,070)	$ 146,418

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating activities
Income / (Loss) for the year	$ 14,950	$ (17,372)	$ (36,351)
Adjustments for:
Depreciation	3,910	2,398	4,721
Depreciation of deferred dry-docking costs	2,751	1,335	1,704
Payment of deferred dry-docking costs	(3,664)	(2,663)	(861)
Provision for staff retirement indemnities	83	5	(61)
Impairment loss	0	4,615	29,902
(Gain)/Loss on derivative financial instruments	(181)	1,647	(1,950)
Interest expense and finance costs	3,262	4,155	4,703
Interest income	(8)	(16)	(47)
Foreign exchange gains, net	(87)	121	(11)
Share based payment	40	40	40
Trade accounts receivable	(850)	87	337
Inventories	396	297	(895)
Prepayments and other assets	(197)	(874)	18
Trade accounts payable	(1,917)	89	(1,013)
Accrued liabilities and other payables	503	(392)	63
Deferred revenue	1,759	285	(86)
Net cash generated from / (used in) operating activities	20,750	(6,243)	213
Cash flows from investing activities:
Vessels acquisition	(71,600)	(18,474)	0
Purchase of vessel equipment	(332)	(54)	(54)
Purchases of office furniture and equipment	(36)	(30)	(13)
Interest received	8	16	47
Net cash used in investing activities	(71,960)	(18,542)	(20)
Cash flows from financing activities:
Proceeds from loans	34,250	0	43,700
Repayment of long-term debt	(3,993)	0	(1,830)
Prepayment of long-term debt	(35,507)	(3,040)	(33,833)
Proceeds from issuance of share capital	89,580	49,317	0
Proceeds from exercise of Warrants	25	194	0
Transaction costs on issuance of new common shares	(401)	(1,079)	0
(Increase)/decrease in restricted cash	(3,158)	369	(1,085)
Payment of financing costs	(545)	0	(880)
Payment of lease liability - principal	(241)	(159)	(30)
Interest paid	(2,624)	(4,146)	(3,915)
Net cash generated from financing activities	77,386	41,456	2,127
Net increase in cash and cash equivalents	26,176	16,671	2,320
Cash and cash equivalents at the beginning of the year	19,037	2,366	46
Cash and cash equivalents at the end of the year	$ 45,213	$ 19,037	$ 2,366

Basis of presentation and gener

Basis of presentation and general information	12 Months Ended
	Dec. 31, 2021
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 Marshall Islands 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 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 at December 31, 2021: 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 July 20, 2021 m/v Power Globe Argo Maritime Limited Marshall Islands June 9, 2021 m/v Diamond Globe Calypso Shipholding S.A. Marshall Islands – – Daxos Maritime Limited Marshall Islands – – Olympia Shipholding S.A. Marshall Islands – – Paralus Shipholding S.A. Marshall Islands – – Salaminia Maritime Limited Marshall Islands November 29, 2021 m/v Orion Globe The consolidated financial statements as at December 31, 2021 and 2020 and for the three years in the period ended December 31, 2021, were approved for issuance by the Board of Directors on April 6, 2022.

Basis of Preparation and Signif

Basis of Preparation and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Disclosure of initial application of standards or interpretations [abstract]
Basis of Preparation and Significant Accounting Policies	2. Basis of Preparation and Significant Accounting Policies 2.1      Basis of Preparation: Going concern basis of accounting: The Company performs on a regular basis an assessment to evaluate its ability to continue as a going concern. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future, which is at least, but is not limited to, twelve months from the end of the reporting period. The degree of consideration depends on the facts in each case and depends on the Company’s profitability and ready access to financial resources, In certain cases, management may need to consider a wide range of factors relating to current and expected profitability, debt repayment schedules, compliance with the financial and security collateral cover ratio covenants under its existing debt agreements and potential sources of replacement financing before it can satisfy itself that the going concern basis is appropriate. The Company may need to develop detailed cash flow projections as part of its assessment in such cases. In developing estimates of future cash flows, the Company makes assumptions about the vessels’ future performance, with the significant assumptions relating to time charter equivalent rates, vessels’ operating expenses, vessels’ capital expenditures, fleet utilization, Company’s general and administrative expenses and cash flow requirements for debt servicing. The assumptions used to develop estimates of future cash flows are based on historical trends as well as future expectations. On January 29, 2021, February 17, 2021 and June 25, 2021 the Company completed additional follow-on equity offerings that provided the Company with further liquidity (refer to Note 9). As at December 31, 2021, the Company reported a working capital surplus of $ 37.8 The above conditions indicate that the Company is expected to be able to operate as a going concern and these consolidated financial statements were prepared under this assumption. 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 a negative effect on the Company’s business, financial performance and the results of its operations. 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 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 no 2.       Basis of Preparation and Significant Accounting Policies (continued) Statement of Compliance: International Financial Reporting Standards Basis of Consolidation: 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. 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 at January 1, 2021: IFRS 16 Leases-Cοvid 19 Related Rent Concessions (Amendment) The amendment applies, retrospectively, to annual reporting periods beginning on or after 1 June 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: Ø 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. Ø Any reduction in lease payments affects only payments originally due on or before June 30, 2021. Ø There is no substantive change to other terms and conditions of the lease. The amendment had no impact on the consolidated financial statements of the Company. 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. 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. While application is retrospective, an entity is not required to restate prior periods. Management has assessed that these amendments had no impact on the Company’s financial position or performance. Attributing Benefit to Periods of Service (IAS 19 Employee Benefits) – IFRS Interpretation Committee (IFRS IC or IFRIC) Agenda Decision issued May 2021 The International Financial Reporting Standards Interpretations Committee issued a final agenda decision in May 2021, under the title "Attributing Benefits to Periods of Service" (IAS 19), which includes explanatory material regarding the attribution of benefits in periods of service regarding a specific defined benefit plan analogous to that defined in Article 8 of Greek Law 3198/1955 regarding provision of compensation due to retirement (the "Labor Law Defined Benefit Plan"). This explanatory information differentiates the way in which the basic principles and regulations of IAS 19 have been applied in Greece in the previous years, and therefore, according to what is defined in the “IASB Due Process Handbook (par 8.6)”, entities that prepare their financial statements in accordance with IFRS are required to amend their Accounting Policy accordingly. Based on the above, the aforementioned decision is implemented in accordance with paragraphs 19-22 of IAS 8 as a change in accounting policy. The agenda decision had no impact on the consolidated financial statements of the Company. 2.       Basis of Preparation and Significant Accounting Policies (continued) 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 were initially 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. 1 January 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. In November 2021, the Board issued an exposure draft (ED), which clarifies how to treat liabilities that are subject to covenants to be complied with, at a date subsequent to the reporting period. In particular, the Board proposes narrow scope amendments to IAS 1 which effectively reverse the 2020 amendments requiring entities to classify as current, liabilities subject to covenants that must only be complied with within the next twelve months after the reporting period, if those covenants are not met at the end of the reporting period. Instead, the proposals would require entities to present separately all non-current liabilities subject to covenants to be complied with only within twelve months after the reporting period. Furthermore, if entities do not comply with such future covenants at the end of the reporting period, additional disclosures will be required. The proposals will become effective for annual reporting periods beginning on or after January 1, 2024 and will need to be applied retrospectively in accordance with IAS 8, while early adoption is permitted. The Board has also proposed to delay the effective date of the 2020 amendments accordingly, such that entities will not be required to change current practice before the proposed amendments come into effect. 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: Ø IFRS 3 Business Combinations (Amendments) Ø IAS 16 Property, Plant and Equipment (Amendments) Ø IAS 37 Provisions, Contingent Liabilities and Contingent Assets (Amendments) Ø Annual Improvements 2018-2020 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 beyond June 30, 2021 (Amendment) The Amendment applies to annual reporting periods beginning on or after April 1, 2021, with earlier application permitted, including in financial statements not yet authorized for issue at the date the amendment is issued. In March 2021, the Board amended the conditions of the practical expedient in IFRS 16 that provides relief to lessees from applying the IFRS 16 guidance on lease modifications to rent concessions arising as a direct consequence of the covid-19 pandemic. Following the amendment, the practical expedient now applies to rent concessions for which any reduction in lease payments affects only payments originally due on or before June 30, 2022, provided the other conditions for applying the practical expedient are met. Management has assessed will have no impact on the Company’s financial position or performance. 2.       Basis of Preparation and Significant Accounting Policies (continued) IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies (Amendments) The Amendments are effective for annual periods beginning on or after January 1, 2023 with earlier application permitted. The amendments provide guidance on the application of materiality judgements to accounting policy disclosures. In particular, the amendments to IAS 1 replace the requirement to disclose ‘significant’ accounting policies with a requirement to disclose ‘material’ accounting policies. Also, guidance and illustrative examples are added in the Practice Statement to assist in the application of the materiality concept when making judgements about accounting policy disclosures. Management has assessed that these amendments will have no impact on the Company’s financial position or performance. IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates (Amendments) The amendments become effective for annual reporting periods beginning on or after January 1, 2023 with earlier application permitted and apply to changes in accounting policies and changes in accounting estimates that occur on or after the start of that period. The amendments introduce a new definition of accounting estimates, defined as monetary amounts in financial statements that are subject to measurement uncertainty. Also, the amendments clarify what changes in accounting estimates are and how these differ from changes in accounting policies and corrections of errors. Management has assessed that these amendments will have no impact on the Company’s financial position or performance. IAS 12 Income taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments) The amendments are effective for annual periods beginning on or after January 1, 2023 with earlier application permitted. In May 2021, the Board issued amendments to IAS 12, which narrow the scope of the initial recognition exception under IAS 12 and specify how companies should account for deferred tax on transactions such as leases and decommissioning obligations. Under the amendments, the initial recognition exception does not apply to transactions that, on initial recognition, give rise to equal taxable and deductible temporary differences. It only applies if the recognition of a lease asset and lease liability (or decommissioning liability and decommissioning asset component) give rise to taxable and deductible temporary differences that are not equal. 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: Judgments: Ø Provision for expected credit losses: 8 0 Estimates and assumptions: Ø Carrying amount of vessels, net Ø Impairment of Non-Financial Assets and Reversal of previously recognized impairment losses 2.       Basis of Preparation and Significant Accounting Policies (continued) 2.4           Accounting for revenue and related expenses: Interest income Voyage expenses Vessel operating expenses 2.5        Foreign currency translation: 2.6        Cash and cash equivalents: 2.7        Trade accounts receivable, net : 8 2.8        Inventories: 2.9        Vessels, net: 2.       Basis of Preparation and Significant Accounting Policies (continued) 2.10        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 . 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: straight-line basis 25 years 300 380 145 2.12        Amortization of lease component: . The amortization is included in the line “amortization 2.13       Impairment of Long-Lived Assets and Reversal of previously recognized impairment losses: 2.14        Long-term debt: 2.15        Financing costs: 545 880 0 2.16        Borrowing costs: 2.       Basis of Preparation and Significant Accounting Policies (continued) 2.17        Operating segment: one 2.18        Provisions and contingencies: 2.19        Pension and retirement benefit obligations: Provision for employees’ severance compensation: 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. 114 31 2.20        Offsetting of financial assets and liabilities: 2.21        Financial assets and liabilities: i. Classification and measurement of financial assets and financial liabilities 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. 2.       Basis of Preparation and Significant Accounting Policies (continued) 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 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. 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. 2.       Basis of Preparation and Significant Accounting Policies (continued) 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. 2.22        Leases: The Company has initially adopted IFRS 16 on January 1, 2019 using the modified retrospective approach. 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: 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 8% The depreciation charge for right-of-use assets for the years ended December 31, 2021, 2020 and 2019 was approximately $ 206 112 112 52 44 51 888 450 562 2.       Basis of Preparation and Significant Accounting Policies (continued) Leases – where an entity is the lessor: 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 includes crew expenses, maintenance and consumable costs and was approximately $ 14,066 29,145 2.23        Insurance: 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 income/(loss), with a corresponding impact in equity. 2.25        Share capital and Warrants : 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. The Company’s warrants meet the classification criteria as per IAS 32 and, accordingly, are classified in equity. 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. 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. 2.       Basis of Preparation and Significant Accounting Policies (continued) 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

Cash and cash equivalents and R

Cash and cash equivalents and Restricted cash	12 Months Ended
	Dec. 31, 2021
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: Cash and cash equivalents and Restricted cash December 31, 2021 2020 Cash on hand 25 13 Cash at banks 45,188 19,024 Total 45,213 19,037 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, 2021 and 2020, was $ 45,213 and $ 19,037 , respectively. In addition, as at December 31, 2020, the Company had available undrawn amount of $ 14,200 under the facility with Firment. The facility with Firment expired on October 31, 2021 (note 11). As at December 31, 2021 and 2020, the Company had pledged an amount of $ 5,224 and $ 2,066 , respectively, in order to fulfil collateral requirements. The fair value of the restricted cash as at December 31, 2021 was $ 5,224 , $ 3,576 included in non-current assets and $ 1,648 included in current assets. 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 as at December 31, 2020. 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, 2021
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, 2021, 2020 and 2019: 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. On August 5, 2021, the Company entered into a new rental agreement for 902 square metres of office space for its operations within a building leased by Cyberonica S.A. (an affiliate of Globus’s chairman) at a monthly rate of Euro 26,000 (absolute amount) with a lease period ending August 4, 2024 . The previous rental agreement was terminated. The Company does not presently own any real estate. During the years ended December 31, 2021, 2020 and 2019, the rent charged amounted to $ 242 , $ 141 and $ 139 , respectively. As at 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). Under IFRS 16 the new contract comprises of two parts, a modification of the old lease and a new lease for the extra space of 552 square meters, compared to the 350 square meters included in the previous rental agreement. The modification of the previous rental agreement resulted to in $ 39 credit adjustment classified in the income statement component of the consolidated statement of comprehensive income/(loss) under interest and finance costs. The right of use asset and a corresponding liability of the modified part of the rental agreement was estimated to approximately $ 380 . For the additional 552 square meters that the Company are now leasing, the Company identified under IFRS 16 that the rental agreement with Cyberonica S.A. gives rise to a right of use asset and a corresponding liability estimated to approximately $ 632 . The depreciation charge for right-of-use asset for the years ended December 31, 2021, 2020 and 2019, was approximately $ 206 , $ 112 and $ 112 , respectively, and was recognised in the income statement component of the consolidated statement of comprehensive income/(loss) under depreciation. The interest expense on lease liabilities for the years ended December 31, 2021, 2020 and 2019, was approximately $ 52 , $ 44 and $ 51 , respectively, and recognised under interest expense and finance costs, respectively in the income statement component of the consolidated statement of comprehensive income/(loss). The total cash outflows for leases for the years ended December 31, 2021, 2020 and 2019, were approximately $ 314 , $ 229 and $ 47 , respectively, and were recognised in the consolidated statement of cash flows under the Payment of lease liability – principal and Interest Paid. As at 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 to the CEO pursuant to his consultancy agreement, which has been paid. Specifically, in February 2021, the Company paid to the CEO of Goldenmare Limited (Mr. Athanasios Feidakis) the amount of $ 1,000 and in September 2021 the remaining amount of $ 500 . In addition, in December 2021, the Company agreed to pay a one-time cash bonus of $ 1.5 million to Goldenmare Limited pursuant to the consultancy agreement, half of which is to be paid immediately and the other half during 2022, if at the time of the payment Mr. Athanasios Feidakis remains CEO and the consultant has not terminated its consultancy agreement. At the time of the filing of these Consolidated Financial Statements, none of the bonus approved in 2022 has been paid. The related expense for the years ended December 31, 2021, 2020 and 2019, amounted to approx. $ 1,216 , $ 1,772 and $ 224 , respectively. 4.       Transactions with Related Parties (continued) 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 was approved by an independent committee of the Company’s Board of Directors, which received fairness opinions from an independent financial advisor. On March 2, 2021, the Company entered into a stock purchase agreement and issued 10,000 Series B Preferred Shares, par value $ 0.001 per share, to Goldenmare Limited in return for $ 130 , which amount was settled by reducing, on a dollar-for-dollar basis, the amount payable as executive compensation 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. As at December 31, 2021, and 2020, Goldenmare Limited owned 10,300 300 As at December 31, 2020 and 2021, Mr. George Feidakis beneficially owned 0.4 % and 3.7 %, 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 was unsecured and remained available until its final maturity date at October 31, 2021 , as amended. The Company had 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 was charged at 7% per annum and no commitment fee was charged on the amounts remaining available and undrawn. Interest was 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 was charged. Globus also had 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 should 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 income/(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 income/(loss). 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 at December 31, 2020, there was an amount of $ 14,200 available to be drawn under the Firment Shipping Credit Facility. 4.       Transactions with Related Parties (continued) 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 income/(loss). The facility with Firment Shipping Inc. expired on October 31, 2021 . As at December 31, 2020, the amount drawn and outstanding with respect to the Firment Shipping Credit Facility was $nil. 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 income/(loss) under interest expense and finance costs. The Firment Shipping Credit Facility required that Athanasios Feidakis remain the Company’s Chief Executive Officer and that Firment Shipping Inc. maintained 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 Shipping Inc. in relation to the equity offerings completed during the year ended December 31, 2020 (Note 11). As at December 31, 2020, the Company was in compliance with the loan covenants of the Firment Shipping Credit Facility. On July 15, 2021 Globus entered into a consultancy agreement with Eolos Shipmanagement S.A. for the purpose of providing consultancy services to Eolos Shipmanagement S.A. For these services the Company receives a daily fee of $ 1,000 (absolute amount). The chairman of the board of Globus is the majority shareholder of Eolos Shipmanagement. Compensation of Key Management Personnel of the Company: Compensation to Globus non-executive directors is analysed as follows: Transactions with Related Parties - Compensation to the Company's Non-Executive Directors For the year ended December 31, 2021 2020 2019 Directors’ remuneration 145 143 147 Share-based payments (Note 12) 40 40 40 Total 185 183 187 As at December 31, 2021, and 2020, $ 105 and $ 80 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: Transactions with Related Parties - Compensation to the Company's Executive Director For the year ended December 31, 2021 2020 2019 Short-term employee benefits 1,216 1,772 224 Total 1,216 1,772 224 As at December 31, 2021, and 2020, $ 985 and $ 1,739 of the compensation to the executive director was remaining due and unpaid, respectively.

Vessels, net

Vessels, net	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [abstract]
Vessels, net	5. Vessels, net The amounts in the consolidated statement of financial position are analysed as follows: 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, 2019 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 Additions/ Dry Docking Component 70,746 —  4,044 —  74,790 Depreciation expense —  (3,665) —  (2,751) (6,416) Balance at December 31, 2021 233,738 (107,776) 15,927 (11,165) 130,724 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 is being amortized until the vessel’s next scheduled survey to be performed in July 2023. 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 $ 16.2 million. No initial dry-docking component has been recognized as the vessel underwent dry-docking subsequent to her delivery. The m/v “Nord Venus” was built at the Universal Shipbuilding Corporation in Japan and has a carrying capacity of 80,655 dwt. On July 20, 2021 , the Company took delivery of the m/v “Nord Venus” that was renamed to “Power Globe”. 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 vessel cost amounted to $ 26.4 million, and the initial dry-docking component amounted to $ 0.6 million. The m/v “Yangze 11” was built at Jiangsu New Yangzi Shipbuilding Co., Ltd and has a carrying capacity of 82,027 dwt. On June 9, 2021 , the Company took delivery of the m/v “Yangze 11” that was renamed to “Diamond Globe”. On September 22, 2021, the Company entered into a memorandum of agreement with an unrelated third party, for the acquisition of the m/v “Peak Liberty”, a 2015 -built Kamsarmax dry bulk carrier, for a purchase price of $ 28.4 million, the vessel cost amounted to $ 27.9 million, and the initial dry-docking component amounted to $ 0.5 million. The m/v “Peak Liberty” was built at Tsuneishi Zosen in Japan and has a carrying capacity of 81,837 dwt. On November 29, 2021 , the Company took delivery of the m/v “Peak Liberty” that was renamed to “Orion Globe”. For the purpose of the consolidated statement of comprehensive income/(loss), depreciation, as stated in the income statement component, comprises the following: Vessels, net - Consolidated Statement of Comprehensive Income/ (loss) For the year ended December 31, 2021 2020 2019 Vessels depreciation 3,665 2,253 4,578 Depreciation on office furniture and equipment 39 33 31 Depreciation of right of use asset 206 112 112 Total 3,910 2,398 4,721 The Company’s vessels, except the m/v Power, Diamond and Orion Globe, have been pledged as collateral to secure the bank loans discussed in note 11. 5. Vessels, net (continued) Impairment of non-financial assets: 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 at 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 at December 31, 2020, the Company concluded that no additional impairment loss should be recognized. As at 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 at December 31, 2021, the Company performed an assessment on whether there were indicators that a vessel(s) may be impaired and no impairment indicators were identified for the Company’s vessels. The impairment loss for the years ended December 31, 2020 and 2019, analysed by vessel is as follows: Vessels, net - Impairment loss Vessel For the year ended December 31, 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) Reversal of previously recognized impairment: Ø Observable indications that the vessel’s value has increased significantly and will be sustained. Ø Significant favourable changes in the technological, economic or legal environment incurred or are expected to be incurred and positively affect vessel’s value or increase its revenue generating ability. Ø Market interest rates of return on investments have decreased during the period, which will result in decrease of the discount rate. The Company has assessed current market trends as well as the historical market data, historical market volatility and various qualitative factors and concluded that no indicators for reversal of impairment were present as of December 31, 2021 and no reversal of previously recognized impairment losses is required for the financial year ended December 31, 2021.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2021
Classes of current inventories [abstract]
Inventories	6.       Inventories Inventories in the consolidated statement of financial position are analysed as follows: Inventories December 31, 2021 2020 Lubricants 765 319 Gas cylinders 87 75 Bunkers — 854 Total 852 1,248

Trade accounts payable

Trade accounts payable	12 Months Ended
	Dec. 31, 2021
Trade and other payables [abstract]
Trade accounts payable	7.      Trade accounts payable Trade accounts payable in the consolidated statement of financial position as at December 31, 2021 and 2020, amounted to $ 1,100 and $ 4,758 , respectively. Trade accounts payable are non-interest bearing.

Accrued liabilities and other p

Accrued liabilities and other payables	12 Months Ended
	Dec. 31, 2021
Miscellaneous current liabilities [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: Accrued liabilities and other payables December 31, 2021 2020 Accrued interest 179 — Accrued Interest Swap Loss 30 — Accrued audit fees 82 63 Other accruals 3,262 1,953 Insurance deductibles 64 96 Other payables 59 47 Total 3,676 2,159 Interest on long-term debt is normally settled quarterly throughout the year and other payables are non-interest bearing.

Share Capital and Share Premium

Share Capital and Share Premium	12 Months Ended
	Dec. 31, 2021
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: Share Capital and Share Premium - Authorised share capital December 31, 2021 2020 2019 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. 9.       Share Capital and Share Premium (continued) Share Capital and Share Premium - Common Shares issued and fully paid Common Shares issued and fully paid Number of shares USD As at January 1, 2019 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 Issued during the year for share-based compensation (note 12) 12,178 — Issuance of new common stocks 14,905,000 60 Issuance of common stock due to exercise of pre-funded warrants 2,625,000 10 As at December 31, 2021 20,582,301 82 During the years ended December 31, 2021, 2020 and 2019, Globus issued 12,178 , 2,812 and 180 common shares, respectively (par value $ 0.004 per share) as share-based payments. As at December 31, 2021, 2020 and 2019, 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 March 2, 2021, the Company entered into a stock purchase agreement and issued 10,000 Series B Preferred Shares, par value $ 0.001 per share, to Goldenmare Limited, a company controlled by the Company’s Chief Executive Officer, Athanasios Feidakis, in return for $ 130 , which amount was settled by reducing, on a dollar-for-dollar basis, the amount payable as executive compensation 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. 9.       Share Capital and Share Premium (continued) 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 at December 31, 2021 and 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 at December 31, 2021 and 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 10, 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 2020 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 December 2020 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 at 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. On January 13, 2021, the remaining 130,000 December 2020 Pre-Funded Warrants were exercised, resulting to net proceeds of $ 1.3 and the issuance of 130,000 common shares. 9.       Share Capital and Share Premium (continued) The December 2020 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 at December 31, 2021 and 2020, no December 2020 Warrants had been exercised and the Company had December 2020 Warrants outstanding to purchase an aggregate of 1,270,587 common shares. Total transaction costs for the issuance of common shares in relation to the offerings in 2020 amounted to $ 1,079 . On January 29, 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, net of commission retained by the placement agent, amounted to $ 15,108 , before issuance expenses of $ 120 . All 445,000 pre-funded warrants were exercised subsequently with total proceeds of $ 5 . 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. As at December 31, 2021, no January 2021 Warrants had been exercised and the Company had January 2021 Warrants outstanding to purchase an aggregate of 1,950,000 common shares. On February 17, 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, net of commission retained by the placement agent, amounted to $ 27,891 , before issuance expenses of $ 152 . All 950,000 pre-funded warrants were exercised subsequently with total proceeds of $ 10 . 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. As at December 31, 2021, no February 2021 Warrants had been exercised and the Company had February 2021 Warrants outstanding to purchase an aggregate of 4,800,000 common shares. On June 29, 2021, the Company entered into a securities purchase agreement with certain unaffiliated institutional investors to issue (a) 8,900,000 common shares par value $ 0.004 per share, (b) pre-funded warrants to purchase 1,100,000 common shares, par value $ 0.004 par value, and (c) warrants (the “June 2021 Warrants”) to purchase 10,000,000 common shares, par value $ 0.004 per share, at an exercise price of $ 5.00 per share. Total proceeds, net of commission retained by the placement agent, amounted to $ 46,581 , before issuance expenses of approximately $ 129 . As at September 30, 2021, 1,100,000 pre-funded warrants were exercised and the total proceeds amounted to $ 11 . 9.       Share Capital and Share Premium (continued) The June 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. As at December 31, 2021, no June 2021 Warrants had been exercised and the Company had June 2021 Warrants outstanding to purchase an aggregate of 10,000,000 common shares. Total transaction costs for the issuance of common shares in relation to the offerings in 2021 amounted to $ 401 . The Company’s warrants were classified as equity in accordance with the provisions of IAS 32.meet the classification criteria as per IAS 32 and, accordingly, are classified in equity. 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, 2021, 2020 and 2019, Globus share premium amounted to $ 284,406 , $ 195,102 and $ 145,527 , respectively.

Earnings_(Loss) per Share

Earnings/(Loss) per Share	12 Months Ended
	Dec. 31, 2021
Earnings per share [abstract]
Earnings/(Loss) per Share	10.      Earnings/(Loss) per Share Basic earnings / (loss) per share (“EPS” / “LPS”) is calculated by dividing the net income /(loss) for the year attributable to Globus shareholders by the weighted average number of shares issued, paid and outstanding. Diluted earnings / (loss) per share is calculated by dividing the net income / (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 for the year ended December 31, 2021, the securities that could potentially dilute basic EPS in the future are any incremental shares of unexercised warrants (Note 9). As the warrants were out-of-the money during the period ended December 31, 2021, these were not included in the computation of diluted EPS, because to do so would have anti-dilutive effect. As the Company reported losses for the years ended December 31, 2020 and 2019, the effect of any incremental shares would be antidilutive and thus excluded from the computation of the LPS. The following reflects the net income/(loss) per common share: Earnings/(Loss) per Share For the year ended December 31, 2021 2020 2019 Income/(Loss) attributable to common equity holders 14,950 (17,372) (36,351) Weighted average number of shares – basic and diluted 14,809,536 959,157 41,622 Net income/(loss) per common share – basic and diluted 1.01 (18.11) (873.36)

Long-Term Debt, net

Long-Term Debt, net	12 Months Ended
	Dec. 31, 2021
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: Long-Term Debt, net - Consolidated statement of financial position Borrower Principal Deferred Finance costs Amortised cost (a) Devocean Maritime LTD., Domina Maritime LTD., Dulac Maritime S.A., Artful Shipholding S.A., Longevity Maritime Limited and Serena Maritime Limited 31,750 (447) 31,303 Total at December 31, 2021 31,750 (447) 31,303 Less: Current Portion (5,000) 135 (4,865) Long-Term Portion 26,750 (312) 26,438 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 (a) 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 was 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 was referred to as EnTrust loan facility. As at December 31, 2020, the Company was in compliance with the covenants of the EnTrust Loan Agreement. In March 2021, the Company prepaid $ 6 .0 million of the Entrust loan facility, which represented all amounts that would otherwise come due during calendar year 2021 and on May 10, 2021, the Company fully prepaid the balance of the EnTrust Loan facility. (b) 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 . The Firment Shipping Credit Facility was unsecured and remained available until its final maturity date on October 31, 2021 , as amended. The Company had 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 was charged at 3.5% per annum until December 31, 2020, and thereafter at 7% per annum and no commitment fee was charged on the amounts remaining available and undrawn. Interest was 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 was charged. Globus also had 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 would 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” equaled 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 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 income/(loss). For the year ended December 31, 2020, the amount drawn and outstanding with respect to Firment Shipping Credit Facility was nil. 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 income/(loss). 11.       Long-Term Debt, net (continued) 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 income/(loss). As at December 31, 2020, there was an amount of $ 14,200 , 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 facility with Firment Shipping Inc. expired on October 31, 2021. The Firment Shipping Credit Facility required that Athanasios Feidakis remained Chief Executive Officer and that Firment Shipping maintained 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, December 7, 2020, January 27, 2021, February 12, 2021 and June 25, 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 at December 31, 2020, the Company was in compliance with the loan covenants of the Firment Shipping Credit Facility. (c) 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 income/(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. 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 income/(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 income/(loss). 11.       Long-Term Debt, net (continued) On May 8, 2020, the holder of the 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 income/(loss). (d) In May 2021, Globus Maritime Limited entered into a term loan facility with CIT Bank, N.A., relating to the refinancing of the Company’s ships, the River Globe Sky Globe Star Globe Moon Globe Sun Globe Galaxy Globe The loan agreement was for the lesser of $ 34,250 and 52.5 % of the aggregate market value of our ships. The Company drew an aggregate of $ 34,250 at closing and used a significant portion of the proceeds to fully repay the amounts outstanding under the loan agreement with EnTrust . The Company also entered into a swap agreement with respect to LIBOR. The Company paid CIT Bank an upfront fee in the amount of 1.25 % of the total commitment of the loan. The CIT Loan Facility consists of six tranches, which shall be repaid in 20 consecutive quarterly instalments with each instalment in an aggregate amount of $ 1.25 million as well as a balloon payment in an aggregate amount of $ 9.25 million due together with the 20th and final instalment due in August 2026 . The CIT Loan Facility bears interest at LIBOR plus 3.75 % (or 5.75 % default interest). Following any permanent or indefinite cessation of any tenor for LIBOR used for purposes of the CIT Loan (or earlier based on market conditions as notified by CIT Bank), LIBOR shall be replaced with SOFR as the benchmark rate, subject to certain exceptions. The CIT Loan Facility may be prepaid. If the prepayment occurs on or before May 10, 2022, the prepayment fee is 2 % of the amount prepaid, subject to certain exceptions. If the prepayment occurs on or before May 10, 2023 but after May 10, 2022, the prepayment fee is 1 % of the amount prepaid, subject to certain exceptions. The Company cannot reborrow any amount of the CIT Loan that is prepaid or repaid. The CIT Loan Facility is secured by: • First preferred mortgage over m/v River Globe, m/v Sky Globe, m/v Star Globe, m/v Moon Globe, m/v Sun Globe and m/v Galaxy Globe. • Guarantee from Globus Maritime Limited and joint liability of the six vessel owning companies (each of which is a borrower under the CIT Loan Facility). • Shares pledges respecting each borrower. • Pledges of bank accounts, a pledge of each borrower’s rights under any interest rate hedging agreement in respect of the CIT Loan Facility, a general assignment over each ship's earnings, insurances and any requisition compensation in relation to that ship, and an assignment of the rights of Globus with respect to any indebtedness owed to it by the borrowers. We are not permitted, without the written consent of CIT, to enter into a charter the duration of which exceeds or is capable of exceeding, by virtue of any optional extensions, 12 months. The CIT Loan Facility contains various covenants requiring the vessels owning companies and/or Globus Maritime Limited to, among other things, ensure that: 11.       Long-Term Debt, net (continued) - The borrowers, must maintain a minimum liquidity at all times of not less than $500 for each mortgaged ship. - For the first 18 months of the utilization of the loan, a minimum loan to value ratio of 75% and thereafter 70%. - Each borrower must maintain in its earnings account $150 in respect of each ship then subject to a mortgage. - Globus Maritime Limited must maintain cash in an amount of not less than $150 for each ship that it owns that is not subject to a mortgage as part of the CIT Loan. - Globus Maritime Limited must have a maximum leverage ratio of 0.75:1.00. - If Globus Maritime Limited pays a dividend, subject to certain exceptions, then the debt service coverage ratio (i.e., aggregate EBITDA of Globus Maritime Limited for any period to the debt service for such period) after such dividend and for the remain of the CIT Loan Facility shall be at least 1.15:1.00. Each borrower must create a reserve fund in the reserve account to meet the anticipated dry docking and special survey fees and expenses for the relevant ship owned by it and (for certain ships) the installation of ballast water treatment system on the ship owned by it by maintaining in the reserve account a minimum credit balance that 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). Amounts must be paid into this reserve account quarterly, such that $1.2 million is set aside by each borrower for its ship’s special survey, except for Serena Maritime Limited, who is required to set aside quarterly payments that aggregate to $900. 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) the indebtedness under the EnTrust loan, which has been repaid; (c) any financial indebtedness (including permitted inter-company loans) that is subordinated to all financial indebtedness incurred under the finance documents pursuant to a subordination agreement or, in the case of any permitted inter-company loans pursuant to the CIT Loan Facility or otherwise and which is, in the case of any such financial indebtedness of a borrower (other than financial indebtedness arising out of any permitted inter-company loan), the subject of subordinated debt security; and (d) in relation to a ship, any trade debt on arm's length commercial terms reasonably incurred in the ordinary course of owning, operating, trading, chartering, maintaining and repairing that ship, which, (i) until 90 days from May 10, 2021 does not exceed $500 (or the equivalent in any other currency) in aggregate in respect of that ship and remains unpaid; and (ii) on and from the date falling after 90 days from May 10, 2021 is (x) up to $50 (or the equivalent in any other currency) in aggregate in respect of that ship and does not remain unpaid for more than 90 days of (A) its due date or (B) in the case where the borrower owning that ship has not received the relevant invoice, the date on which that borrower becomes aware that the invoice is due and remains outstanding; and (y) is more than $50 and does not exceed $500 (or the equivalent in any other currency) in aggregate in respect of that ship and does not remain unpaid for more than 30 days of (A) its due date or (B) in the case where the borrower owning that ship has not received the relevant invoice, the date on which that borrower becomes aware that the invoice is due and remains outstanding. Globus Maritime Limited is prohibited from making dividends (other than up to $500 annually on or in respect of its preferred share) in cash or redeem or repurchase its shares unless there is no event of default under the CIT Loan Facility, the net loan to value ratio is less than 60% before the making of the dividend and Globus Maritime Limited is in compliance with the debt service coverage ratio, and Globus Maritime Limited must prepay the CIT Loan Facility in an equal amount of the dividend. The CIT Loan Facility also prohibits certain changes of control, including, among other things, the delisting of Globus from the Nasdaq or another internationally recognized stock exchange, or the acquisition by any person or group of persons (acting in concert) of a majority of the shareholder voting rights or the ability to appoint a majority of board members or to give directions with respect to the operating and financial policies of Globus Maritime Limited with which the directors are obliged to comply, other than those persons disclosed to CIT Bank on or around the date of the CIT Loan Facility and their affiliates and immediate family members. The Company was in compliance with the covenants of the CIT Loan Facility as at December 31, 2021. 11.       Long-Term Debt, net (continued) The contractual annual loan principal payments per lender to be made subsequent to December 31, 2021, were as follows: Long-Term Debt, net - Annual loan principal payments December 31, CIT Bank N.A. 2022 5,000 2023 5,000 2024 5,000 2025 5,000 2026 and thereafter 11,750 Total 31,750 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 weighted average interest rate for the years ended December 31, 2021 and 2020, was 5.69% and 9.44% , respectively.

Share Based Payment

Share Based Payment	12 Months Ended
	Dec. 31, 2021
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: Share Based Payment Year 2021 Number of common shares Number of preferred shares Share premium Retained earnings Non-executive directors’ payment 12,178 —  40 —  Balance at December 31, 2021 12,178 —  40 —  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 —

Voyage Expenses and Vessel Oper

Voyage Expenses and Vessel Operating Expenses	12 Months Ended
	Dec. 31, 2021
Expenses by nature [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 income/(loss) consisted of the following: Voyage Expenses and Vessel Operating Expenses - Voyage expenses    Voyage expenses consisted of: For the year ended December 31, 2021 2020 2019 Commissions 626 160 224 Bunkers expenses — 2,117 1,634 Other voyage expenses 502 213 240 Total 1,128 2,490 2,098              Vessel operating expenses consisted of: Voyage Expenses and Vessel Operating Expenses - Vessel operating expenses For the year ended December 31, 2021 2020 2019 Crew wages and related costs 7,570 4,865 4,670 Insurance 1,067 661 664 Spares, repairs and maintenance 2,414 1,574 1,884 Lubricants 555 434 517 Stores 1,712 787 820 Other 490 260 327 Total 13,808 8,581 8,882

Administrative Expenses

Administrative Expenses	12 Months Ended
	Dec. 31, 2021
Selling, general and administrative expense [abstract]
Administrative Expenses	14.       Administrative Expenses The amount shown in the consolidated statements of comprehensive income/(loss) is analysed as follows: Administrative Expenses For the year ended December 31, 2021 2020 2019 Personnel expenses 1,455 1,013 1,006 Audit fees 215 143 98 Consulting fees 329 243 191 Communication 16 12 7 Stationery 6 3 2 Greek tax authorities (note 19) 185 130 116 Other 404 347 163 Total 2,610 1,891 1,583

Interest Expense and Finance Co

Interest Expense and Finance Costs	12 Months Ended
	Dec. 31, 2021
Interest costs [abstract]
Interest Expense and Finance Costs	15.       Interest Expense and Finance Costs The amounts in the consolidated statements of comprehensive income/(loss) are analysed as follows: Interest Expense and Finance Costs For the year ended December 31, 2021 2020 2019 Interest payable on long-term borrowings 1,958 3,721 3,603 Bank charges 59 69 28 Amortization of debt discount 547 293 383 Operating lease liability interest 52 44 51 Other finance expenses 646 28 638 Total 3,262 4,155 4,703 Other finance expenses for 2021 include approximately $ 0.6 million that were the loan prepayment fee and expenses relating to the prepayment of EnTrust loan facility.

Dividends

Dividends	12 Months Ended
	Dec. 31, 2021
Miscellaneous liabilities [abstract]
Dividends	16.       Dividends No dividends were declared or paid on common shares during the years ended December 31, 2021, 2020 and 2019.

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2021
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, 2021
Commitments
Commitments	18. Commitments The Company enters into time charter arrangements on its vessels. As at December 31, 2021, the non-cancellable arrangements had remaining terms between nil days to two and a half months, assuming redelivery at the earliest possible date. As at December 31, 2020, the non-cancellable arrangements had remaining terms between nine days to eight months, assuming redelivery at the earliest possible date. Future net minimum lease revenues receivable under non-cancellable operating leases as at December 31, 2021 and 2021, 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): Commitments - Future minimum lease revenues receivable under non-cancellable operating leases 2021 2020 Within one year 6,082 3,078 Total 6,082 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, 2021, 2020 and 2019, the Company was a party to a lease agreement as lessee (note 4). On August 5, 2021, the Company entered into a new rental agreement for 902 square metres of office space for its operations within a building leased by Cyberonica S.A. (an affiliate of Globus’s chairman) at a monthly rate of Euro 26,000 (absolute amount) with a lease period ending August 4, 2024 . The previous rental agreement was terminated. The depreciation charge for right-of-use assets for the years ended December 31, 2021 and 2020, was approximately $ 206 and $ 112 , respectively, and recognised under depreciation in the income statement component of the consolidated statements of comprehensive income/(loss). The interest expense on lease liability for the years ended December 31, 2021 and 2020, was approximately $ 52 and $ 44 , respectively, and recognised under interest expense and finance costs in the income statement component of the consolidated statements of comprehensive income/(loss). At December 31, 2021 and 2020, the current lease liability amounted to $ 349 and $ 195 , respectively. The non-current lease liability amounted to $ 556 and $ 367 , respectively. As at December 31, 2021, 2020 and 2019, the net carrying in amount of the right of use asset was $ 888 , $ 450 and $ 562 , respectively. These are included in the accompanying consolidated statements of financial position. The total cash outflows for leases for the years ended December 31, 2021, 2020 and 2019, were approximately $ 314 229 47

Income Tax

Income Tax	12 Months Ended
	Dec. 31, 2021
Major components of tax expense (income) [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 at December 31, 2021, 2020 and 2019, the tax expense under the law amounted to $ 185 , $ 130 and $ 116 , respectively and is included in administrative expenses in the consolidated statements of comprehensive income/(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. Globus believes that under § 883 of the Internal Revenue Code, it’s income and the income of its ship-owning subsidiaries, to the extent derived from the international operation of a ship or ships, were exempt from U.S. federal income tax in 2021. 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. 19.       Income Tax (continued) 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, 2021 and 2019, 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, 2021 and 2019. It was not clear whether Globus was able to rely on the § 883 exemption for the year ended December, 2020. 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. 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, 2021
Disclosure of detailed information about financial instruments [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, financial derivative instrument and cash and short-term deposits including restricted cash, 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 at December 31, 2021 and 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. Financial risk management objectives and policies - Interest rate risk Increase/(Decrease) in basis points Effect on income / (loss) 2021 $ Libor +15 (52) -20 69 2020 $ Libor +15 (57) -20 75 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 at December 31, 2021 and 2020, was not material. Financial risk management objectives and policies - Foreign currency risk Change in rate Effect on income / (loss) 2021 +10% (478) -10% 478 2020 +10% (258) -10% 258 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. 20.       Financial risk management objectives and policies (continued) 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, 2021, 2020 and 2019: Financial risk management objectives and policies - Concentration of credit risk table 2021 % 2020 % 2019 % A 7,726 18% — — — — B 4,571 11% — — — — C — — 751 6% 3,476 22% Other 30,914 71% 11,002 94% 12,147 78% Total 43,211 100% 11,753 100% 15,623 100% 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, 2021 and 2020 based on contractual undiscounted cash flows. Financial risk management objectives and policies - Liquidity risk Year ended December 31, 2021 Less than 3 months 3 to 12 months 1 to 5 years More than 5 years Total Long-term debt 1,566 4,614 29,325 — 35,505 Lease liabilities 92 275 585 — 952 Accrued liabilities and other payables 3,676 — — — 3,676 Trade accounts payables 1,100 — — — 1,100 Current portion of fair value of derivative financial instruments 23 69 — — 92 Total 6,457 4,958 29,910 — 41,325 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 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, 2021 and 2020.

Fair values

Fair values	12 Months Ended
	Dec. 31, 2021
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 values measurement Carrying amount Fair value December 31, 2021 Level 1 Level 2 Level 3 Total Financial assets Financial assets measured at fair value Derivative financial instruments 417 —  417 —  417 417 Financial liabilities Financial liabilities measured at fair value Derivative financial instruments 92 —  92 —  92 92 Financial liabilities not measured at fair value Long-term borrowings 31,750 —  32,155 —  32,155 31,750 Carrying amount Fair value December 31, 2020 Level 1 Level 2 Level 3 Total Financial liabilities Financial liabilities not measured at fair value Long-term borrowings 37,000 —  37,961 —  37,961 37,000 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. Valuation techniques and significant unobservable inputs Financial instruments measured at fair value Type Valuation Techniques Significant unobservable inputs Derivative financial instruments: Interest Rate Swap Discounted cash flow Discount rate Financial instruments not measured at fair value Asset and liabilities 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 2020 and 2021.

Events after the reporting date

Events after the reporting date	12 Months Ended
	Dec. 31, 2021
Disclosure of non-adjusting events after reporting period [abstract]
Events after the reporting date	22.       Events after the reporting date The conflict between Russia and Ukraine, which commenced in February 2022, has disrupted supply chains and caused instability and significant volatility in the global economy. Much uncertainty remains regarding the global impact of the conflict in Ukraine, and it is possible that such instability, uncertainty and resulting volatility could significantly increase the costs of the Company and adversely affect its business, including the ability to secure charters and financing on attractive terms, and as a result, adversely affect the Company’s business, financial condition, results of operation and cash flows. Currently there is no effect on the Company’s operations.

Basis of Preparation and Sign_2

Basis of Preparation and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Disclosure of initial application of standards or interpretations [abstract]
Basis of Preparation:	2.1      Basis of Preparation: Going concern basis of accounting: The Company performs on a regular basis an assessment to evaluate its ability to continue as a going concern. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future, which is at least, but is not limited to, twelve months from the end of the reporting period. The degree of consideration depends on the facts in each case and depends on the Company’s profitability and ready access to financial resources, In certain cases, management may need to consider a wide range of factors relating to current and expected profitability, debt repayment schedules, compliance with the financial and security collateral cover ratio covenants under its existing debt agreements and potential sources of replacement financing before it can satisfy itself that the going concern basis is appropriate. The Company may need to develop detailed cash flow projections as part of its assessment in such cases. In developing estimates of future cash flows, the Company makes assumptions about the vessels’ future performance, with the significant assumptions relating to time charter equivalent rates, vessels’ operating expenses, vessels’ capital expenditures, fleet utilization, Company’s general and administrative expenses and cash flow requirements for debt servicing. The assumptions used to develop estimates of future cash flows are based on historical trends as well as future expectations. On January 29, 2021, February 17, 2021 and June 25, 2021 the Company completed additional follow-on equity offerings that provided the Company with further liquidity (refer to Note 9). As at December 31, 2021, the Company reported a working capital surplus of $ 37.8 The above conditions indicate that the Company is expected to be able to operate as a going concern and these consolidated financial statements were prepared under this assumption. 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 a negative effect on the Company’s business, financial performance and the results of its operations. 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 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 no 2.       Basis of Preparation and Significant Accounting Policies (continued) Statement of Compliance: International Financial Reporting Standards Basis of Consolidation: 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 at January 1, 2021: IFRS 16 Leases-Cοvid 19 Related Rent Concessions (Amendment) The amendment applies, retrospectively, to annual reporting periods beginning on or after 1 June 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: Ø 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. Ø Any reduction in lease payments affects only payments originally due on or before June 30, 2021. Ø There is no substantive change to other terms and conditions of the lease. The amendment had no impact on the consolidated financial statements of the Company. 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. 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. While application is retrospective, an entity is not required to restate prior periods. Management has assessed that these amendments had no impact on the Company’s financial position or performance. Attributing Benefit to Periods of Service (IAS 19 Employee Benefits) – IFRS Interpretation Committee (IFRS IC or IFRIC) Agenda Decision issued May 2021 The International Financial Reporting Standards Interpretations Committee issued a final agenda decision in May 2021, under the title "Attributing Benefits to Periods of Service" (IAS 19), which includes explanatory material regarding the attribution of benefits in periods of service regarding a specific defined benefit plan analogous to that defined in Article 8 of Greek Law 3198/1955 regarding provision of compensation due to retirement (the "Labor Law Defined Benefit Plan"). This explanatory information differentiates the way in which the basic principles and regulations of IAS 19 have been applied in Greece in the previous years, and therefore, according to what is defined in the “IASB Due Process Handbook (par 8.6)”, entities that prepare their financial statements in accordance with IFRS are required to amend their Accounting Policy accordingly. Based on the above, the aforementioned decision is implemented in accordance with paragraphs 19-22 of IAS 8 as a change in accounting policy. The agenda decision had no impact on the consolidated financial statements of the Company. 2.       Basis of Preparation and Significant Accounting Policies (continued) 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 were initially 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. 1 January 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. In November 2021, the Board issued an exposure draft (ED), which clarifies how to treat liabilities that are subject to covenants to be complied with, at a date subsequent to the reporting period. In particular, the Board proposes narrow scope amendments to IAS 1 which effectively reverse the 2020 amendments requiring entities to classify as current, liabilities subject to covenants that must only be complied with within the next twelve months after the reporting period, if those covenants are not met at the end of the reporting period. Instead, the proposals would require entities to present separately all non-current liabilities subject to covenants to be complied with only within twelve months after the reporting period. Furthermore, if entities do not comply with such future covenants at the end of the reporting period, additional disclosures will be required. The proposals will become effective for annual reporting periods beginning on or after January 1, 2024 and will need to be applied retrospectively in accordance with IAS 8, while early adoption is permitted. The Board has also proposed to delay the effective date of the 2020 amendments accordingly, such that entities will not be required to change current practice before the proposed amendments come into effect. 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: Ø IFRS 3 Business Combinations (Amendments) Ø IAS 16 Property, Plant and Equipment (Amendments) Ø IAS 37 Provisions, Contingent Liabilities and Contingent Assets (Amendments) Ø Annual Improvements 2018-2020 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 beyond June 30, 2021 (Amendment) The Amendment applies to annual reporting periods beginning on or after April 1, 2021, with earlier application permitted, including in financial statements not yet authorized for issue at the date the amendment is issued. In March 2021, the Board amended the conditions of the practical expedient in IFRS 16 that provides relief to lessees from applying the IFRS 16 guidance on lease modifications to rent concessions arising as a direct consequence of the covid-19 pandemic. Following the amendment, the practical expedient now applies to rent concessions for which any reduction in lease payments affects only payments originally due on or before June 30, 2022, provided the other conditions for applying the practical expedient are met. Management has assessed will have no impact on the Company’s financial position or performance. 2.       Basis of Preparation and Significant Accounting Policies (continued) IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies (Amendments) The Amendments are effective for annual periods beginning on or after January 1, 2023 with earlier application permitted. The amendments provide guidance on the application of materiality judgements to accounting policy disclosures. In particular, the amendments to IAS 1 replace the requirement to disclose ‘significant’ accounting policies with a requirement to disclose ‘material’ accounting policies. Also, guidance and illustrative examples are added in the Practice Statement to assist in the application of the materiality concept when making judgements about accounting policy disclosures. Management has assessed that these amendments will have no impact on the Company’s financial position or performance. IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates (Amendments) The amendments become effective for annual reporting periods beginning on or after January 1, 2023 with earlier application permitted and apply to changes in accounting policies and changes in accounting estimates that occur on or after the start of that period. The amendments introduce a new definition of accounting estimates, defined as monetary amounts in financial statements that are subject to measurement uncertainty. Also, the amendments clarify what changes in accounting estimates are and how these differ from changes in accounting policies and corrections of errors. Management has assessed that these amendments will have no impact on the Company’s financial position or performance. IAS 12 Income taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments) The amendments are effective for annual periods beginning on or after January 1, 2023 with earlier application permitted. In May 2021, the Board issued amendments to IAS 12, which narrow the scope of the initial recognition exception under IAS 12 and specify how companies should account for deferred tax on transactions such as leases and decommissioning obligations. Under the amendments, the initial recognition exception does not apply to transactions that, on initial recognition, give rise to equal taxable and deductible temporary differences. It only applies if the recognition of a lease asset and lease liability (or decommissioning liability and decommissioning asset component) give rise to taxable and deductible temporary differences that are not equal. 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: Judgments: Ø Provision for expected credit losses: 8 0 Estimates and assumptions: Ø Carrying amount of vessels, net Ø Impairment of Non-Financial Assets and Reversal of previously recognized impairment losses 2.       Basis of Preparation and Significant Accounting Policies (continued)
Accounting for revenue and related expenses:	2.4           Accounting for revenue and related expenses: Interest income Voyage expenses Vessel operating expenses
Foreign currency translation:	2.5        Foreign currency translation:
Cash and cash equivalents:	2.6        Cash and cash equivalents:
Trade accounts receivable, net	2.7        Trade accounts receivable, net : 8
Inventories:	2.8        Inventories:
Vessels, net:	2.9        Vessels, net: 2.       Basis of Preparation and Significant Accounting Policies (continued)
Dry-docking costs	2.10        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 . 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: straight-line basis 25 years 300 380 145
Amortization of lease component:	2.12        Amortization of lease component: . The amortization is included in the line “amortization
Impairment of Long-Lived Assets and Reversal of previously recognized impairment losses:	2.13       Impairment of Long-Lived Assets and Reversal of previously recognized impairment losses:
Long-term debt:	2.14        Long-term debt:
Financing costs:	2.15        Financing costs: 545 880 0
Borrowing costs:	2.16        Borrowing costs: 2.       Basis of Preparation and Significant Accounting Policies (continued)
Operating segment:	2.17        Operating segment: one
Provisions and contingencies:	2.18        Provisions and contingencies:
Pension and retirement benefit obligations:	2.19        Pension and retirement benefit obligations: Provision for employees’ severance compensation: 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. 114 31
Offsetting of financial assets and liabilities:	2.20        Offsetting of financial assets and liabilities:
Financial assets and liabilities:	2.21        Financial assets and liabilities: i. Classification and measurement of financial assets and financial liabilities 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. 2.       Basis of Preparation and Significant Accounting Policies (continued) 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 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. 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. 2.       Basis of Preparation and Significant Accounting Policies (continued) 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:	2.22        Leases: The Company has initially adopted IFRS 16 on January 1, 2019 using the modified retrospective approach. 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: 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 8% The depreciation charge for right-of-use assets for the years ended December 31, 2021, 2020 and 2019 was approximately $ 206 112 112 52 44 51 888 450 562 2.       Basis of Preparation and Significant Accounting Policies (continued) Leases – where an entity is the lessor: 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 includes crew expenses, maintenance and consumable costs and was approximately $ 14,066 29,145
Insurance:	2.23        Insurance:
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 income/(loss), with a corresponding impact in equity.
Share capital and Warrants	2.25        Share capital and Warrants : 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. The Company’s warrants meet the classification criteria as per IAS 32 and, accordingly, are classified in equity.
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. 2.       Basis of Preparation and Significant Accounting Policies (continued)
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).
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.
Interest Rate Swap:	2.31        Interest Rate Swap: The Company enters into interest rate swap agreements to manage its exposure to fluctuations of interest rate risk associated with its borrowings. Interest Rate Swaps are measured at fair value. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. The valuation technique used for the Interest Rate Swaps is the discounted cash flow (see also note 21). The Company has not designated these interest rate swaps for hedge accounting. The fair value of the Interest Rate Swaps is classified under “Fair value of derivative financial instruments” either under assets or liabilities in the consolidated statement of financial position. In the event that the respective asset or liability is expected to be materialized within the next twelve months, it is classified as current asset or liability. Otherwise, the respective asset or liability is classified as non-current asset or liability. The change in fair value deriving from the valuation of the Interest Rate Swap at the end of each reporting period is classified under “Gain/ (Loss) on derivative financial instruments” in the consolidated statement of comprehensive income/(loss). Realized gains or losses resulting from interest rate swaps are recognized in profit or loss under “Gain / (Loss) on derivative financial instruments” in the consolidated statement of comprehensive income/(loss).
Management & consulting fee income:	2.32        Management & consulting fee income: The Company enters into consultancy agreements with other companies for the purpose of providing consultancy services. For these services the Company receives a fee. The total income from these fees is classified in the income statement component of the consolidated statement of comprehensive income/(loss) under management & consulting fee income.

Basis of presentation and gen_2

Basis of presentation and general information (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of subsidiaries [abstract]
Basis of presentation and general information	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 July 20, 2021 m/v Power Globe Argo Maritime Limited Marshall Islands June 9, 2021 m/v Diamond Globe Calypso Shipholding S.A. Marshall Islands – – Daxos Maritime Limited Marshall Islands – – Olympia Shipholding S.A. Marshall Islands – – Paralus Shipholding S.A. Marshall Islands – – Salaminia Maritime Limited Marshall Islands November 29, 2021 m/v Orion Globe

Cash and cash equivalents and_2

Cash and cash equivalents and Restricted cash (Tables)	12 Months Ended
	Dec. 31, 2021
Cash and cash equivalents [abstract]
Cash and cash equivalents and Restricted cash	Cash and cash equivalents and Restricted cash December 31, 2021 2020 Cash on hand 25 13 Cash at banks 45,188 19,024 Total 45,213 19,037

Transactions with Related Par_2

Transactions with Related Parties (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of transactions between related parties [abstract]
Transactions with Related Parties - Compensation to the Company's Non-Executive Directors	Transactions with Related Parties - Compensation to the Company's Non-Executive Directors For the year ended December 31, 2021 2020 2019 Directors’ remuneration 145 143 147 Share-based payments (Note 12) 40 40 40 Total 185 183 187
Transactions with Related Parties - Compensation to the Company's Executive Director	Transactions with Related Parties - Compensation to the Company's Executive Director For the year ended December 31, 2021 2020 2019 Short-term employee benefits 1,216 1,772 224 Total 1,216 1,772 224

Vessels, net (Tables)

Vessels, net (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [abstract]
Vessels, net - Consolidated Statement of Financial Position	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, 2019 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 Additions/ Dry Docking Component 70,746 —  4,044 —  74,790 Depreciation expense —  (3,665) —  (2,751) (6,416) Balance at December 31, 2021 233,738 (107,776) 15,927 (11,165) 130,724
Vessels, net - Consolidated Statement of Comprehensive Income/ (loss)	Vessels, net - Consolidated Statement of Comprehensive Income/ (loss) For the year ended December 31, 2021 2020 2019 Vessels depreciation 3,665 2,253 4,578 Depreciation on office furniture and equipment 39 33 31 Depreciation of right of use asset 206 112 112 Total 3,910 2,398 4,721
Vessels, net - Impairment loss	Vessels, net - Impairment loss Vessel For the year ended December 31, 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)

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2021
Classes of current inventories [abstract]
Inventories	Inventories December 31, 2021 2020 Lubricants 765 319 Gas cylinders 87 75 Bunkers — 854 Total 852 1,248

Accrued liabilities and other_2

Accrued liabilities and other payables (Tables)	12 Months Ended
	Dec. 31, 2021
Miscellaneous current liabilities [abstract]
Accrued liabilities and other payables	Accrued liabilities and other payables December 31, 2021 2020 Accrued interest 179 — Accrued Interest Swap Loss 30 — Accrued audit fees 82 63 Other accruals 3,262 1,953 Insurance deductibles 64 96 Other payables 59 47 Total 3,676 2,159

Share Capital and Share Premi_2

Share Capital and Share Premium (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of classes of share capital [abstract]
Share Capital and Share Premium - Authorised share capital	Share Capital and Share Premium - Authorised share capital December 31, 2021 2020 2019 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
Share Capital and Share Premium - Common Shares issued and fully paid	Share Capital and Share Premium - Common Shares issued and fully paid Common Shares issued and fully paid Number of shares USD As at January 1, 2019 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 Issued during the year for share-based compensation (note 12) 12,178 — Issuance of new common stocks 14,905,000 60 Issuance of common stock due to exercise of pre-funded warrants 2,625,000 10 As at December 31, 2021 20,582,301 82

Earnings_(Loss) per Share (Tabl

Earnings/(Loss) per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings per share [abstract]
Earnings/(Loss) per Share	Earnings/(Loss) per Share For the year ended December 31, 2021 2020 2019 Income/(Loss) attributable to common equity holders 14,950 (17,372) (36,351) Weighted average number of shares – basic and diluted 14,809,536 959,157 41,622 Net income/(loss) per common share – basic and diluted 1.01 (18.11) (873.36)

Long-Term Debt, net (Tables)

Long-Term Debt, net (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about borrowings [abstract]
Long-Term Debt, net - Consolidated statement of financial position	Long-Term Debt, net - Consolidated statement of financial position Borrower Principal Deferred Finance costs Amortised cost (a) Devocean Maritime LTD., Domina Maritime LTD., Dulac Maritime S.A., Artful Shipholding S.A., Longevity Maritime Limited and Serena Maritime Limited 31,750 (447) 31,303 Total at December 31, 2021 31,750 (447) 31,303 Less: Current Portion (5,000) 135 (4,865) Long-Term Portion 26,750 (312) 26,438 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
Long-Term Debt, net - Annual loan principal payments	Long-Term Debt, net - Annual loan principal payments December 31, CIT Bank N.A. 2022 5,000 2023 5,000 2024 5,000 2025 5,000 2026 and thereafter 11,750 Total 31,750 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

Share Based Payment (Tables)

Share Based Payment (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Share Based Payment	Share Based Payment Year 2021 Number of common shares Number of preferred shares Share premium Retained earnings Non-executive directors’ payment 12,178 —  40 —  Balance at December 31, 2021 12,178 —  40 —  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 —

Voyage Expenses and Vessel Op_2

Voyage Expenses and Vessel Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Expenses by nature [abstract]
Voyage Expenses and Vessel Operating Expenses - Voyage expenses	Voyage Expenses and Vessel Operating Expenses - Voyage expenses    Voyage expenses consisted of: For the year ended December 31, 2021 2020 2019 Commissions 626 160 224 Bunkers expenses — 2,117 1,634 Other voyage expenses 502 213 240 Total 1,128 2,490 2,098
Voyage Expenses and Vessel Operating Expenses - Vessel operating expenses	Voyage Expenses and Vessel Operating Expenses - Vessel operating expenses For the year ended December 31, 2021 2020 2019 Crew wages and related costs 7,570 4,865 4,670 Insurance 1,067 661 664 Spares, repairs and maintenance 2,414 1,574 1,884 Lubricants 555 434 517 Stores 1,712 787 820 Other 490 260 327 Total 13,808 8,581 8,882

Administrative Expenses (Tables

Administrative Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Selling, general and administrative expense [abstract]
Administrative Expenses	Administrative Expenses For the year ended December 31, 2021 2020 2019 Personnel expenses 1,455 1,013 1,006 Audit fees 215 143 98 Consulting fees 329 243 191 Communication 16 12 7 Stationery 6 3 2 Greek tax authorities (note 19) 185 130 116 Other 404 347 163 Total 2,610 1,891 1,583

Interest Expense and Finance _2

Interest Expense and Finance Costs (Tables)	12 Months Ended
	Dec. 31, 2021
Interest costs [abstract]
Interest Expense and Finance Costs	Interest Expense and Finance Costs For the year ended December 31, 2021 2020 2019 Interest payable on long-term borrowings 1,958 3,721 3,603 Bank charges 59 69 28 Amortization of debt discount 547 293 383 Operating lease liability interest 52 44 51 Other finance expenses 646 28 638 Total 3,262 4,155 4,703

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	Dec. 31, 2021
Commitments
Commitments - Future minimum lease revenues receivable under non-cancellable operating leases	Commitments - Future minimum lease revenues receivable under non-cancellable operating leases 2021 2020 Within one year 6,082 3,078 Total 6,082 3,078

Financial risk management obj_2

Financial risk management objectives and policies (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about financial instruments [abstract]
Financial risk management objectives and policies - Interest rate risk	Financial risk management objectives and policies - Interest rate risk Increase/(Decrease) in basis points Effect on income / (loss) 2021 $ Libor +15 (52) -20 69 2020 $ Libor +15 (57) -20 75
Financial risk management objectives and policies - Foreign currency risk	Financial risk management objectives and policies - Foreign currency risk Change in rate Effect on income / (loss) 2021 +10% (478) -10% 478 2020 +10% (258) -10% 258
Financial risk management objectives and policies - Concentration of credit risk table	Financial risk management objectives and policies - Concentration of credit risk table 2021 % 2020 % 2019 % A 7,726 18% — — — — B 4,571 11% — — — — C — — 751 6% 3,476 22% Other 30,914 71% 11,002 94% 12,147 78% Total 43,211 100% 11,753 100% 15,623 100%
Financial risk management objectives and policies - Liquidity risk	Financial risk management objectives and policies - Liquidity risk Year ended December 31, 2021 Less than 3 months 3 to 12 months 1 to 5 years More than 5 years Total Long-term debt 1,566 4,614 29,325 — 35,505 Lease liabilities 92 275 585 — 952 Accrued liabilities and other payables 3,676 — — — 3,676 Trade accounts payables 1,100 — — — 1,100 Current portion of fair value of derivative financial instruments 23 69 — — 92 Total 6,457 4,958 29,910 — 41,325 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

Fair values (Tables)

Fair values (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of fair value measurement of assets [abstract]
Fair values measurement	Fair values measurement Carrying amount Fair value December 31, 2021 Level 1 Level 2 Level 3 Total Financial assets Financial assets measured at fair value Derivative financial instruments 417 —  417 —  417 417 Financial liabilities Financial liabilities measured at fair value Derivative financial instruments 92 —  92 —  92 92 Financial liabilities not measured at fair value Long-term borrowings 31,750 —  32,155 —  32,155 31,750 Carrying amount Fair value December 31, 2020 Level 1 Level 2 Level 3 Total Financial liabilities Financial liabilities not measured at fair value Long-term borrowings 37,000 —  37,961 —  37,961 37,000
Valuation techniques and significant unobservable inputs	Valuation techniques and significant unobservable inputs Financial instruments measured at fair value Type Valuation Techniques Significant unobservable inputs Derivative financial instruments: Interest Rate Swap Discounted cash flow Discount rate Financial instruments not measured at fair value Asset and liabilities 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 (Details)	12 Months Ended
	Dec. 31, 2021
Globus Shipmanagement Corp. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date
Vessel Owned	Management Co.
Devocean Maritime Ltd. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date	Dec. 18, 2007
Vessel Owned	m/v River Globe
Domina Maritime Ltd. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date	May 19, 2010
Vessel Owned	m/v Sky Globe
Dulac Maritime S.A. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date	May 25, 2010
Vessel Owned	m/v Star Globe
Artful Shipholding S.A. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date	Jun. 22, 2011
Vessel Owned	m/v Moon Globe
Longevity Maritime Limited [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Malta
Vessel Delivery Date	Sep. 15, 2011
Vessel Owned	m/v Sun Globe
Serena Maritime Limited [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date	Oct. 29, 2020
Vessel Owned	m/v Galaxy Globe
Talisman Maritime Limited [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date	Jul. 20, 2021
Vessel Owned	m/v Power Globe
Argo Maritime Limited [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date	Jun. 9, 2021
Vessel Owned	m/v Diamond Globe
Calypso Shipholding S.A. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date
Vessel Owned
Daxos Maritime Limited [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date
Vessel Owned
Olympia Shipholding S.A. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date
Vessel Owned
Paralus Shipholding S.A. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date
Vessel Owned
Salaminia Maritime Limited [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date	Nov. 29, 2021
Vessel Owned	m/v Orion Globe

Basis of presentation and gen_4

Basis of presentation and general information (Details Narrative)	12 Months Ended
	Dec. 31, 2021
Disclosure of subsidiaries [abstract]
Name of reporting entity	Globus Maritime Limited
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 Narrative) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Aug. 05, 2021USD ($)	Jan. 01, 2019USD ($)
Disclosure of initial application of standards or interpretations [line items]
Working capital surplus/ (deficit)	$ 37,800
Impairment loss	$ 0	$ 4,615	$ 29,902
Entity Accounting Standard	International Financial Reporting Standards
Provision for doubtful trade receivables	$ 8	0
Borrowing costs capitalised		0
Number Of Operating Segments	1
Description of nature of benefits provided by 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	$ 114	31
Right of use asset	888	450	562
Lease liability	952	638
Depreciation charge for right-of-use assets	206	112	112
Interest expense on lease liabilities	52	44	51
Direct operating expense from investment property	14,066
Lease components	29,145
Cyberonica S.A. [member]
Disclosure of initial application of standards or interpretations [line items]
Incremental cost of borrowing					8.00%
Cyberonica S.A. [member] | For 350 Square meters [member]
Disclosure of initial application of standards or interpretations [line items]
Right of use asset					$ 674
Lease liability				$ 380	$ 674
CiT Loan Facility [member]
Disclosure of initial application of standards or interpretations [line items]
Borrowing costs capitalised	$ 545
EnTrust loan facility [member]
Disclosure of initial application of standards or interpretations [line items]
Borrowing costs capitalised			880
Deferred Dry-docking costs [member]
Disclosure of initial application of standards or interpretations [line items]
Interval Between Vessel Drydocking Special Survey	2 years 6 months
Depreciation method	straight-line basis
Vessels [member]
Disclosure of initial application of standards or interpretations [line items]
Depreciation method	straight-line basis
Useful life	25 years
Vessels scrap rate per ton	$ 380	$ 300	$ 300
Decrease in depreciation expense due to changes in scrap rate	$ 145

Cash and cash equivalents and_3

Cash and cash equivalents and Restricted cash (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash and cash equivalents [abstract]
Cash on hand	$ 25	$ 13
Cash at banks	45,188	19,024
Total	$ 45,213	$ 19,037	$ 2,366	$ 46

Cash and cash equivalents and_4

Cash and cash equivalents and Restricted cash (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Cash And Cash Equivalents Fair Value Disclosure	$ 45,213	$ 19,037
Restricted cash and cash equivalents	5,224	2,066
Restricted Cash And Cash Equivalents Fair Value Disclosure	5,224	2,066
Non-current restricted cash and cash equivalents	3,576	1,250
Current restricted cash and cash equivalents	$ 1,648	816
Firment Shipping Inc. [member]
Undrawn borrowing facilities		$ 14,200

Transactions with Related Par_3

Transactions with Related Parties - Compensation to the Company's Non-Executive Directors (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of transactions between related parties [line items]
Share-based payments (Note 12)	$ 40	$ 40	$ 40
Non-Executive Directors [member]
Disclosure of transactions between related parties [line items]
Directors’ remuneration	145	143	147
Share-based payments (Note 12)	40	40	40
Total	$ 185	$ 183	$ 187

Transactions with Related Par_4

Transactions with Related Parties - Compensation to the Company's Executive Director (Details) - Executive Director [member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
IfrsStatementLineItems [Line Items]
Short-term employee benefits	$ 1,216	$ 1,772	$ 224
Total	$ 1,216	$ 1,772	$ 224

Transactions with Related Par_5

Transactions with Related Parties (Details Narrative)	2 Months Ended		4 Months Ended		5 Months Ended	6 Months Ended		7 Months Ended	8 Months Ended		11 Months Ended		12 Months Ended
	Mar. 02, 2021USD ($)$ / sharesshares	Feb. 28, 2021USD ($)	May 08, 2020USD ($)	Apr. 23, 2019USD ($)$ / sharesshares	Jun. 12, 2020USD ($)$ / sharesshares	Jul. 15, 2021USD ($)	Jun. 22, 2020shares	Jul. 27, 2020USD ($)shares	Aug. 18, 2016USD ($)	Aug. 18, 2016EUR (€)	Dec. 03, 2020EUR (€)	Nov. 30, 2018USD ($)	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2021EUR (€)	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2016USD ($)	Dec. 31, 2016EUR (€)	Jan. 31, 2022USD ($)	Aug. 05, 2021USD ($)	Dec. 03, 2020USD ($)	Jan. 01, 2019USD ($)
Disclosure of transactions between related parties [line items]
Lease liabilities													$ 952,000		$ 638,000
Depreciation, right-of-use assets													206,000		112,000	$ 112,000
Interest expense on lease liabilities													52,000		44,000	51,000
Payment of lease liability - principal and Interest Paid													314,000		229,000	47,000
Consulting Fees Expense													$ 329,000		243,000	191,000
Increase (decrease) in number of shares outstanding | shares							342,857
Par value per share | $ / shares													$ 0.004
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.	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.
Borrowings													$ 31,303,000		36,552,000
Gains (losses) on change in fair value of derivatives													181,000		(1,647,000)	1,950,000
Interest expense													1,958,000		3,721,000	$ 3,603,000
Preferred shares [member]
Disclosure of transactions between related parties [line items]
Par value per share | $ / shares																$ 0.001
Goldenmare Limited [member]
Disclosure of transactions between related parties [line items]
Consulting Fees Expense									$ 224,000	€ 200,000	€ 400,000		$ 1,216,000		$ 1,772,000	$ 224,000
Amount of one-time cash bonus																			$ 1,500,000		$ 1,500,000
One time cash bonus payment		$ 1,000,000
Remaining of one time cash bonus payment		$ 500,000
Goldenmare Limited [member] | Preferred shares [member]
Disclosure of transactions between related parties [line items]
Increase (decrease) in number of shares outstanding | shares	10,000				50			250
Par value per share | $ / shares	$ 0.001				$ 0.001
Issue of preferred shares	$ 130,000				$ 150,000			$ 150,000
Voting Rights													As at December 31, 2021, and 2020, Goldenmare Limited owned 10,300 and 300, respectively, 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 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, 2021, and 2020, Goldenmare Limited owned 10,300 and 300, respectively, 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 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.
Number of shares in entity held by entity or by its subsidiaries or associates | shares													10,300		300
Chairman of the Board of Directors [member]
Disclosure of transactions between related parties [line items]
Proportion Of Ownership Interests Held By Controlling Party													3.70%	3.70%	0.40%
Firment Shipping Inc. [member]
Disclosure of transactions between related parties [line items]
Increase (decrease) in number of shares outstanding | shares				11,322
Par value per share | $ / shares				$ 0.004
Line Of Credit Facility Maximum Borrowing Capacity												$ 15,000,000
Description of borrowings												for the purpose of financing its general working capital needs
Credit facility collateral description													The Firment Shipping Credit Facility was unsecured and remained available until its final maturity date	The Firment Shipping Credit Facility was unsecured and remained available until its final maturity date
Borrowings, maturity												October 31, 2021
Line Of Credit Facility Drawndown Amounts Multiples												$ 100,000
Borrowings, interest rate												3.50%	7.00%
Borrowings Default Interest Rate												2.00%
Debt instrument conversion price description													The conversion price should 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).	The conversion price should 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).
Borrowings				$ 3,100,000
Interest payable				$ 70,000
Debt Instrument Convertible Conversion Price | $ / shares				$ 280
Gains (losses) on change in fair value of derivatives				$ 117,000				220,000							$ 189,000	135,000
Repayments of current borrowings								$ 863,000
Interest expense															26,000	96,000
Firment Shipping Inc. [member] | Minimum [Member]
Disclosure of transactions between related parties [line items]
Proportion Of Ownership Interests Held By Controlling Party													40.00%	40.00%
Firment Shipping Inc. [member] | Amended And Restated Agreement [member]
Disclosure of transactions between related parties [line items]
Line Of Credit Facility Maximum Borrowing Capacity			$ 14,200,000
Borrowings, maturity			October 31, 2021
Undrawn borrowing facilities															14,200,000
Eolos Shipmanagement S.A [member] | Daily rate [member]
Disclosure of transactions between related parties [line items]
Consulting Fees Expense						$ 1,000
Non-Executive Directors [member]
Disclosure of transactions between related parties [line items]
Accrued Directors Compensation													$ 105,000		80,000
Executive Director [member]
Disclosure of transactions between related parties [line items]
Accrued Directors Compensation													$ 985,000		1,739,000
Cyberonica S.A. [member]
Disclosure of transactions between related parties [line items]
Monthly Rental Expense														€ 26,000			$ 11,900	€ 10,360
Lease expiration date													Aug. 4, 2024	Aug. 4, 2024
Leases as lessee, related party transactions													$ 242,000		$ 141,000	$ 139,000
Credit adjustment of finance cost													$ 39,000
Cyberonica S.A. [member] | For 350 Square meters [member]
Disclosure of transactions between related parties [line items]
Lease liabilities																				$ 380,000		$ 674,000
Cyberonica S.A. [member] | For extra 552 Square meters [member]
Disclosure of transactions between related parties [line items]
Lease liabilities																				$ 632,000

Vessels, net - Consolidated Sta

Vessels, net - Consolidated Statement of Financial Position (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Balance beginning of period	$ 62,350
Impairment loss		$ (4,615)	$ (29,902)
Balance ending of period	130,724	62,350
Carrying Amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance beginning of period	62,350	48,242	83,750
Additions/ (Dry Docking Component)	74,790	22,311	676
Impairment loss		(4,615)	(29,902)
Depreciation expense	(6,416)	(3,588)	(6,282)
Balance ending of period	130,724	62,350	48,242
Vessels [member] | Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance beginning of period	162,992	149,579	179,427
Additions/ (Dry Docking Component)	70,746	18,028	54
Impairment loss		(4,615)	(29,902)
Balance ending of period	233,738	162,992	149,579
Vessels [member] | Accumulated depreciation, amortisation and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance beginning of period	(104,111)	(101,858)	(97,280)
Depreciation expense	(3,665)	(2,253)	(4,578)
Balance ending of period	(107,776)	(104,111)	(101,858)
Dry docking [member] | Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance beginning of period	11,883	7,600	6,978
Additions/ (Dry Docking Component)	4,044	4,283	622
Balance ending of period	15,927	11,883	7,600
Dry docking [member] | Accumulated depreciation, amortisation and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance beginning of period	(8,414)	(7,079)	(5,375)
Depreciation expense	(2,751)	(1,335)	(1,704)
Balance ending of period	$ (11,165)	$ (8,414)	$ (7,079)

Vessels, net - Consolidated S_2

Vessels, net - Consolidated Statement of Comprehensive Income/ (loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [abstract]
Vessels depreciation	$ 3,665	$ 2,253	$ 4,578
Depreciation on office furniture and equipment	39	33	31
Depreciation of right of use asset	206	112	112
Total	$ 3,910	$ 2,398	$ 4,721

Vessels, net - Impairment loss

Vessels, net - Impairment loss (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 [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment loss	(332)	(6,920)
m/v Sky Globe [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment loss	(1,231)	(8,074)
m/v Star Globe [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment loss	(460)	(7,197)
m/v Sun Globe [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment loss	(2,013)	(4,797)
m/v Moon Globe [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment loss	$ (579)	$ (2,914)

Vessels, net (Details Narrative

Vessels, net (Details Narrative)	2 Months Ended	3 Months Ended	9 Months Ended	10 Months Ended	12 Months Ended
	Feb. 18, 2021USD ($)	Mar. 19, 2021USD ($)	Sep. 22, 2021USD ($)	Oct. 29, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of detailed information about property, plant and equipment [line items]
Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities					$ 71,600,000	$ 18,474,000	$ 0
Weighted Average Cost Of Capital						4.06%
Time Period Considered					the Company used the historical ten-year blended average one-year time charter rates
Assumption Of Expected Rates Of Inflation					1.00%
Impairment loss recognised in profit or loss, property, plant and equipment						$ 4,615,000	$ 29,902,000
Galaxy Globe [member]
Disclosure of detailed information about property, plant and equipment [line items]
Vessel year built				2015
Vessel type				Kamsarmax
Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities				$ 18,400,000
Vessel Capacity				81,167
Dry-docking cost capitalised				$ 500,000
Six dry bulk carriers [member]
Disclosure of detailed information about property, plant and equipment [line items]
Vessel Capacity						381,738
Nord Venus [member]
Disclosure of detailed information about property, plant and equipment [line items]
Vessel year built	2011
Vessel type	Kamsarmax
Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities	$ 16,200,000
Vessel Capacity	80,655
Vessel Delivery Date	Jul. 20, 2021
Yangze 11 [member]
Disclosure of detailed information about property, plant and equipment [line items]
Vessel year built		2018
Vessel type		Kamsarmax
Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities		$ 27,000,000
Vessel Capacity		82,027
Dry-docking cost capitalised		$ 600,000
Vessel Delivery Date		Jun. 9, 2021
Additions other than through business combinations, property, plant and equipment		$ 26,400,000
Peak Liberty [member]
Disclosure of detailed information about property, plant and equipment [line items]
Vessel year built			2015
Vessel type			Kamsarmax
Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities			$ 28,400,000
Vessel Capacity			81,837
Dry-docking cost capitalised			$ 500,000
Vessel Delivery Date			Nov. 29, 2021
Additions other than through business combinations, property, plant and equipment			$ 27,900,000
Supramax [member]
Disclosure of detailed information about property, plant and equipment [line items]
Vessel Capacity					50,000
Assumption Of Fleet Utilisation Rate					87.00%
Panamax [member]
Disclosure of detailed information about property, plant and equipment [line items]
Vessel Capacity					70,000
Assumption Of Fleet Utilisation Rate					90.00%

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Classes of current inventories [abstract]
Lubricants	$ 765	$ 319
Gas cylinders	87	75
Bunkers	0	854
Total	$ 852	$ 1,248

Trade accounts payable (Details

Trade accounts payable (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Trade and other payables [abstract]
Trade and other current payables	$ 1,100	$ 4,758

Accrued liabilities and other_3

Accrued liabilities and other payables (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Miscellaneous current liabilities [abstract]
Accrued interest	$ 179	$ 0
Accrued Interest Swap Loss	30	0
Accrued audit fees	82	63
Other accruals	3,262	1,953
Insurance deductibles	64	96
Other payables	59	47
Total	$ 3,676	$ 2,159

Share Capital and Share Premi_3

Share Capital and Share Premium - Authorised share capital (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of classes of share capital [line items]
Par value per share	$ 0.004
Value Of Shares Authorised	$ 2,200	$ 2,200	$ 2,200
Common Shares [member]
Disclosure of classes of share capital [line items]
Number of shares authorised			500,000,000
Par value per share	$ 0.004		$ 0.004
Value Of Shares Authorised	$ 2,000	2,000	$ 2,000
Class B Common Shares [member]
Disclosure of classes of share capital [line items]
Number of shares authorised			100,000,000
Par value per share			$ 0.001
Value Of Shares Authorised	100	100	$ 100
Preferred shares [member]
Disclosure of classes of share capital [line items]
Number of shares authorised			100,000,000
Par value per share			$ 0.001
Value Of Shares Authorised	$ 100	$ 100	$ 100

Share Capital and Share Premi_4

Share Capital and Share Premium - Common Shares issued and fully paid (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of classes of share capital [line items]
Balance beginning of period	$ 12
Balance ending of period	$ 82	$ 12
Ordinary shares [member]
Disclosure of classes of share capital [line items]
Balance beginning of period	3,040,123	52,235	32,057
Issued during the year for share-based compensation (note 12)	12,178	2,812	180
Issuance of common stock due to conversion of loan		11,678	19,998
Issuance of new common stocks	14,905,000	2,942,848
Issuance of common stock due to exercise of pre-funded warrants	2,625,000	25,000
Issuance of common stock due to exercise of warrants		5,550
Balance ending of period	20,582,301	3,040,123	52,235
Issued capital [member]
Disclosure of classes of share capital [line items]
Balance beginning of period	$ 12	$ 0	$ 0
Issuance of new common stocks	60	12
Issuance of common stock due to exercise of pre-funded warrants	10
Balance ending of period	$ 82	$ 12	$ 0

Share Capital and Share Premi_5

Share Capital and Share Premium (Details Narrative)	Jan. 13, 2021USD ($)shares	Jan. 29, 2021USD ($)$ / sharesshares	Mar. 02, 2021USD ($)$ / sharesshares	Feb. 17, 2021USD ($)$ / sharesshares	Jun. 29, 2021USD ($)$ / sharesshares	Apr. 23, 2019USD ($)$ / sharesshares	Jun. 12, 2020USD ($)$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 22, 2020USD ($)$ / sharesshares	Jul. 27, 2020USD ($)shares	Jul. 21, 2020USD ($)$ / sharesshares	Dec. 10, 2020USD ($)$ / sharesshares	Dec. 09, 2020$ / sharesshares	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Jun. 30, 2021shares	Feb. 28, 2021shares	Jan. 31, 2021shares	Mar. 13, 2019$ / shares
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.
Increase (decrease) in number of shares outstanding | shares									342,857
Par value per share | $ / shares														$ 0.004
Borrowings | $														$ 31,303,000	$ 36,552,000
Exercise price of outstanding share options | $ / shares									$ 35
Proceeds From Warrant Exercises | $														25,000	194,000	$ 0
Proceeds from issuing shares | $														89,580,000	49,317,000	0
Share issue related cost | $														401,000	1,079,000
Share premium | $														$ 284,406,000	$ 195,102,000	$ 145,527,000
Convertible Note [member]
Disclosure of classes of share capital [line items]
Par value per share | $ / shares															$ 0.004	$ 0.004				$ 0.004
Borrowings | $															$ 1,168,000	$ 1,789,000
Debt Instrument Convertible Conversion Price | $ / shares															$ 100
Number of shares issued | shares															11,678	8,676
Firment Shipping Inc. [member]
Disclosure of classes of share capital [line items]
Increase (decrease) in number of shares outstanding | shares						11,322
Par value per share | $ / shares						$ 0.004
Borrowings | $						$ 3,100,000
Interest payable | $						$ 70,000
Debt Instrument Convertible Conversion Price | $ / shares						$ 280
Maxim Group LLC [member]
Disclosure of classes of share capital [line items]
Increase (decrease) in number of shares outstanding | shares									51,393
Par value per share | $ / shares									$ 0.004
Exercise price of outstanding share options | $ / shares									$ 35
Option life, share options granted									5
Proceeds from exercise of options | $									$ 12,695,000
Maxim Group LLC [member] | 45-day option [member]
Disclosure of classes of share capital [line items]
Increase (decrease) in number of shares outstanding | shares									51,429
Par value per share | $ / shares									$ 0.004
Number Of Shares Called By Warrants | shares									51,429
Institutional investors [member]
Disclosure of classes of share capital [line items]
Increase (decrease) in number of shares outstanding | shares		2,155,000		3,850,000	8,900,000								1,256,765
Par value per share | $ / shares		$ 0.004		$ 0.004	$ 0.004								$ 0.004
Proceeds from issuing shares | $		$ 15,108,000		$ 27,891,000	$ 46,581,000							$ 11,159,000
Share issue related cost | $		$ 120,000		$ 152,000	$ 129,000
Common Shares [member]
Disclosure of classes of share capital [line items]
Increase (decrease) in number of shares outstanding | shares														12,178	2,812	180
Par value per share | $ / shares														$ 0.004		$ 0.004
Class B Common Shares [member]
Disclosure of classes of share capital [line items]
Par value per share | $ / shares																$ 0.001
Number of shares outstanding | shares																0
Class B Preferred Shares [member] | Goldenmare Limited [member]
Disclosure of classes of share capital [line items]
Increase (decrease) in number of shares outstanding | shares			10,000				50			250
Par value per share | $ / shares			$ 0.001				$ 0.001
Issue of preferred shares | $			$ 130,000				$ 150,000			$ 150,000
Class A Warrants [member]
Disclosure of classes of share capital [line items]
Par value per share | $ / shares														$ 0.004	$ 0.004
Number Of Shares Called By Warrants | shares														388,700
Increase Decrease In Number Of Ordinary Shares Issued Through Exercise Of Warrants Equity | shares															5,550
Proceeds From Warrant Exercises | $														$ 194,000
Number Of Warrants Outstanding | shares															388,700
PP Warrants [member]
Disclosure of classes of share capital [line items]
Increase (decrease) in number of shares outstanding | shares								458,500			833,333
Par value per share | $ / shares								$ 0.004			$ 0.004
Exercise price of outstanding share options | $ / shares											$ 18
Number Of Shares Called By Warrants | shares								458,500			833,333				1,291,833
Proceeds From Warrant Exercises | $								$ 11,513,000			$ 13,950,000
Number Of Warrants Outstanding | shares															1,291,833
Purchase price of outstanding warrants | $ / shares								$ 27			$ 18
PP Warrants [member] | Top of range [member]
Disclosure of classes of share capital [line items]
Exercise price of outstanding share options | $ / shares								30
PP Warrants [member] | Bottom of range [member]
Disclosure of classes of share capital [line items]
Exercise price of outstanding share options | $ / shares								$ 18
Pre-funded warrants [member]
Disclosure of classes of share capital [line items]
Exercise price of outstanding share options | $ / shares														$ 0.01
Number Of Shares Called By Warrants | shares															130,000
Proceeds from exercise of options | $	$ 1,300														$ 250
Increase Decrease In Number Of Ordinary Shares Issued Through Exercise Of Warrants Equity | shares	130,000
Number Of Warrants Outstanding | shares															130,000
Pre-funded warrants [member] | Institutional investors [member]
Disclosure of classes of share capital [line items]
Par value per share | $ / shares		$ 0.004		$ 0.004	$ 0.004							$ 0.004
Number Of Shares Called By Warrants | shares		445,000		950,000	1,100,000							155,000
December Warrants [member]
Disclosure of classes of share capital [line items]
Number Of Shares Called By Warrants | shares														1,270,587
December Warrants [member] | Institutional investors [member]
Disclosure of classes of share capital [line items]
Exercise price of outstanding share options | $ / shares												$ 8.50
Number Of Shares Called By Warrants | shares												1,270,587
January 2021 Warrants [member]
Disclosure of classes of share capital [line items]
Proceeds from exercise of options | $														$ 5,000
Number Of Warrants Outstanding | shares																			1,950,000
January 2021 Warrants [member] | Institutional investors [member]
Disclosure of classes of share capital [line items]
Par value per share | $ / shares		$ 0.004
Exercise price of outstanding share options | $ / shares		$ 6.25
Number Of Shares Called By Warrants | shares		1,950,000
February 2021 Warrants [member]
Disclosure of classes of share capital [line items]
Proceeds from exercise of options | $														10,000
Number Of Warrants Outstanding | shares																		4,800,000
February 2021 Warrants [member] | Institutional investors [member]
Disclosure of classes of share capital [line items]
Par value per share | $ / shares				$ 0.004
Exercise price of outstanding share options | $ / shares				$ 6.25
Number Of Shares Called By Warrants | shares				4,800,000
June 2021 Warrants [member]
Disclosure of classes of share capital [line items]
Proceeds from exercise of options | $														$ 11,000
Number Of Warrants Outstanding | shares																	10,000,000
June 2021 Warrants [member] | Institutional investors [member]
Disclosure of classes of share capital [line items]
Par value per share | $ / shares					$ 0.004
Exercise price of outstanding share options | $ / shares					$ 5
Number Of Shares Called By Warrants | shares					10,000,000

Earnings_(Loss) per Share (Deta

Earnings/(Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings per share [abstract]
Income/(Loss) attributable to common equity holders	$ 14,950	$ (17,372)	$ (36,351)
Weighted average number of shares – basic and diluted	14,809,536	959,157	41,622
Net income/(loss) per common share – basic and diluted	$ 1.01	$ (18.11)	$ (873.36)

Long-Term Debt, net - Consolida

Long-Term Debt, net - Consolidated statement of financial position (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about borrowings [line items]
Loan Balance	$ 31,750	$ 37,000
Unamortized Debt Discount	(447)	(448)
Total Borrowings	31,303	36,552
Loan Balance - Current Portion	(5,000)	(5,970)
Unamortized Debt Discount- Current Portion	135	305
Total Borrowings - Current Portion	(4,865)	(5,665)
Loan Balance - Long-Term Portion	26,750	31,030
Unamortized Debt Discount - Long-Term Portion	(312)	(143)
Total Borrowings - Long-Term Portion	26,438	$ 30,887
Devocean Maritime LTD., Domina Maritime LTD., Dulac Maritime S.A., Artful Shipholding S.A., Longevity Maritime Limited and Serena Maritime Limited [member]
Disclosure of detailed information about borrowings [line items]
Loan Balance	31,750
Unamortized Debt Discount	(447)
Total Borrowings	$ 31,303

Long-Term Debt, net - Annual lo

Long-Term Debt, net - Annual loan principal payments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about borrowings [line items]
Loan Balance	$ 31,750	$ 37,000
CiT Loan Facility [member]
Disclosure of detailed information about borrowings [line items]
Loan Balance	31,750
EnTrust loan facility [member]
Disclosure of detailed information about borrowings [line items]
Loan Balance		37,000
Later than one year and not later than two years [member] | CiT Loan Facility [member]
Disclosure of detailed information about borrowings [line items]
Loan Balance	5,000
Later than one year and not later than two years [member] | EnTrust loan facility [member]
Disclosure of detailed information about borrowings [line items]
Loan Balance		5,970
Later than two years and not later than three years [member] | CiT Loan Facility [member]
Disclosure of detailed information about borrowings [line items]
Loan Balance	5,000
Later than three years and not later than four years [member] | CiT Loan Facility [member]
Disclosure of detailed information about borrowings [line items]
Loan Balance	5,000
Later than four years and not later than five years [member] | CiT Loan Facility [member]
Disclosure of detailed information about borrowings [line items]
Loan Balance	5,000
Later than five years [member] | CiT Loan Facility [member]
Disclosure of detailed information about borrowings [line items]
Loan Balance	$ 11,750
Later than two years and not later than three years [member] | EnTrust loan facility [member]
Disclosure of detailed information about borrowings [line items]
Loan Balance		31,030
Later than three years [member] | EnTrust loan facility [member]
Disclosure of detailed information about borrowings [line items]
Loan Balance		$ 0

Long-Term Debt, net (Details Na

Long-Term Debt, net (Details Narrative) - USD ($)

2 Months Ended

3 Months Ended

4 Months Ended

5 Months Ended

6 Months Ended

7 Months Ended

11 Months Ended

12 Months Ended

Mar. 13, 2019

Mar. 31, 2021

May 08, 2020

Apr. 23, 2019

May 31, 2021

Jun. 25, 2020

Jun. 22, 2020

Jun. 30, 2019

Jul. 27, 2020

Nov. 30, 2018

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Disclosure of detailed information about borrowings [line items]

Debt Instrument Prepayment Amount

$ 35,507,000

$ 3,040,000

$ 33,833,000

Borrowings

$ 31,303,000

36,552,000

Increase (decrease) in number of shares outstanding

342,857

Par value per share

$ 0.004

Gains (losses) on change in fair value of derivatives

$ 181,000

(1,647,000)

1,950,000

Proceeds from borrowings, classified as financing activities

34,250,000

0

43,700,000

Long -term borrowings

31,750,000

$ 37,000,000

Non-current derivative financial liabilities

$ 92,000

Weighted average [member]

Disclosure of detailed information about borrowings [line items]

Borrowings, interest rate

5.69%

9.44%

Firment Shipping Inc. [member]

Disclosure of detailed information about borrowings [line items]

Line Of Credit Facility Maximum Borrowing Capacity

$ 15,000,000

Description of borrowings

for the purpose of financing its general working capital needs

Borrowings Default Interest Rate

2.00%

Borrowings, maturity

October 31, 2021

Line Of Credit Facility Drawndown Amounts Multiples

$ 100,000

Borrowings, interest rate

3.50%

7.00%

Debt Instrument Convertible Conversion Multiplier

80.00%

Borrowings

$ 3,100,000

Interest payable

$ 70,000

Debt Instrument Convertible Conversion Price

$ 280

Increase (decrease) in number of shares outstanding

11,322

Par value per share

$ 0.004

Gains (losses) on change in fair value of derivatives

$ 117,000

$ 220,000

$ 189,000

135,000

Repayments of current borrowings

$ 863,000

Firment Shipping Inc. [member] | Minimum [Member]

Disclosure of detailed information about borrowings [line items]

Proportion Of Ownership Interests Held By Controlling Party

40.00%

EnTrust loan facility [member]

Disclosure of detailed information about borrowings [line items]

Line Of Credit Facility Maximum Borrowing Capacity

$ 37,000,000

Description of borrowings

for the purpose of refinancing the existing indebtedness secured on the ships and for general corporate purposes

Borrowings, interest rate basis

LIBOR

Borrowings, adjustment to interest rate basis

8.50%

Borrowings Default Interest Rate

10.50%

Debt Instrument Prepayment Amount

$ 6,000,000

Long -term borrowings

37,000,000

Amended And Restated Agreement [member] | Firment Shipping Inc. [member]

Disclosure of detailed information about borrowings [line items]

Line Of Credit Facility Maximum Borrowing Capacity

$ 14,200,000

Borrowings, maturity

October 31, 2021

Undrawn borrowing facilities

14,200,000

Convertible Note [member]

Disclosure of detailed information about borrowings [line items]

Borrowings

$ 1,168,000

$ 1,789,000

Debt Instrument Convertible Conversion Price

$ 100

Par value per share

$ 0.004

$ 0.004

$ 0.004

Gains (losses) on change in fair value of derivatives

$ 1,343,000

$ 1,815,000

Debt instruments issued

$ 5,000,000

Debt Instrument, Interest Rate, Stated Percentage

10.00%

Line of Credit Facility, Frequency of Payment and Payment Terms

annually

Proceeds from borrowings, classified as financing activities

$ 5,000,000

Long -term borrowings

1,783,000

Non-current derivative financial liabilities

$ 3,217,000

Number of shares issued

11,678

8,676

Repayments of bonds, notes and debentures

$ 2,528,000

CIT Loan Facility [member]

Disclosure of detailed information about borrowings [line items]

Line Of Credit Facility Maximum Borrowing Capacity

$ 34,250,000

Description of borrowings

used a significant portion of the proceeds to fully repay the amounts outstanding under the loan agreement with EnTrust

Borrowings, interest rate basis

LIBOR

Borrowings, adjustment to interest rate basis

3.75%

Borrowings Default Interest Rate

5.75%

Borrowings, maturity

August 2026

Proceeds from borrowings, classified as financing activities

$ 34,250,000

Percentage of coverage of borrowing capacity

52.50%

Number of loan tranches

6

Number of repayment installments

20

Borrowings Frequency Of Periodic Payment

quarterly

Periodic payment

$ 1,250,000

Borrowings Periodic Payment Terms Balloon Payment To Be Paid

$ 9,250,000

Debt Instrument Covenant Description

Each borrower must create a reserve fund in the reserve account to meet the anticipated dry docking and special survey fees and expenses for the relevant ship owned by it and (for certain ships) the installation of ballast water treatment system on the ship owned by it by maintaining in the reserve account a minimum credit balance that 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). Amounts must be paid into this reserve account quarterly, such that $1.2 million is set aside by each borrower for its ship’s special survey, except for Serena Maritime Limited, who is required to set aside quarterly payments that aggregate to $900.

CIT Loan Facility [member] | SWAP Agreement [member]

Disclosure of detailed information about borrowings [line items]

Percentage of upfront fee in loan agreement

1.25%

CIT Loan Facility [member] | SWAP Agreement [member] | Prepayment occurs on or before May 10, 2022 [member]

Disclosure of detailed information about borrowings [line items]

Percentage of upfront fee in loan agreement

2.00%

CIT Loan Facility [member] | SWAP Agreement [member] | Prepayment occurs on or before May 10, 2023 but after May 10, 2022 [member]

Disclosure of detailed information about borrowings [line items]

Percentage of upfront fee in loan agreement

1.00%

Share Based Payment (Details)

Share Based Payment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share premium [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Stock issued during the year (value) - Share based compensation	$ 40	$ 40	$ 40
Non-Executive Directors [member] | Share premium [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Stock issued during the year (value) - Share based compensation	$ 40	$ 40	$ 40
Number of common shares [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Stock issued during the year (shares) - Share based compensation	12,178	2,812	180
Number of common shares [member] | Non-Executive Directors [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Stock issued during the year (shares) - Share based compensation	12,178	2,812	180

Voyage Expenses and Vessel Op_3

Voyage Expenses and Vessel Operating Expenses - Voyage expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Expenses by nature [abstract]
Commissions	$ 626	$ 160	$ 224
Bunkers expenses	0	2,117	1,634
Other voyage expenses	502	213	240
Total	$ 1,128	$ 2,490	$ 2,098

Voyage Expenses and Vessel Op_4

Voyage Expenses and Vessel Operating Expenses - Vessel operating expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Expenses by nature [abstract]
Crew wages and related costs	$ 7,570	$ 4,865	$ 4,670
Insurance	1,067	661	664
Spares, repairs and maintenance	2,414	1,574	1,884
Lubricants	555	434	517
Stores	1,712	787	820
Other	490	260	327
Total	$ 13,808	$ 8,581	$ 8,882

Administrative Expenses (Detail

Administrative Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Selling, general and administrative expense [abstract]
Personnel expenses	$ 1,455	$ 1,013	$ 1,006
Audit fees	215	143	98
Consulting fees	329	243	191
Communication	16	12	7
Stationery	6	3	2
Greek tax authorities (note 19)	185	130	116
Other	404	347	163
Total	$ 2,610	$ 1,891	$ 1,583

Interest Expense and Finance _3

Interest Expense and Finance Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest costs [abstract]
Interest payable on long-term borrowings	$ 1,958	$ 3,721	$ 3,603
Bank charges	59	69	28
Amortization of debt discount	547	293	383
Operating lease liability interest	52	44	51
Other finance expenses	646	28	638
Total	$ 3,262	$ 4,155	$ 4,703

Interest Expense and Finance _4

Interest Expense and Finance Costs (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
IfrsStatementLineItems [Line Items]
Other finance cost	$ 646,000	$ 28,000	$ 638,000
EnTrust loan facility [member]
IfrsStatementLineItems [Line Items]
Other finance cost	$ 600,000

Dividends (Details Narrative)

Dividends (Details Narrative)	12 Months Ended
	Dec. 31, 2019USD ($)
Miscellaneous liabilities [abstract]
Dividends paid, classified as financing activities	$ 0

Commitments - Future minimum le

Commitments - Future minimum lease revenues receivable under non-cancellable operating leases (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of maturity analysis of operating lease payments [line items]
Total	$ 6,082	$ 3,078
Not later than one year [member]
Disclosure of maturity analysis of operating lease payments [line items]
Total	$ 6,082	$ 3,078

Commitments (Details Narrative)

Commitments (Details Narrative)	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2016EUR (€)
Disclosure of transactions between related parties [line items]
Depreciation, right-of-use assets	$ 206,000		$ 112,000	$ 112,000
Interest expense on lease liabilities	52,000		44,000	51,000
Current lease liabilities	349,000		195,000
Non-current lease liabilities	556,000		367,000
Right-of-use assets	888,000		450,000	562,000
Payment of lease liability - principal and Interest Paid	$ 314,000		$ 229,000	$ 47,000
Cyberonica S.A. [member]
Disclosure of transactions between related parties [line items]
Monthly Rental Expense		€ 26,000			$ 11,900	€ 10,360
Lease expiration date	Aug. 4, 2024	Aug. 4, 2024

Income Tax (Details Narrative)

Income Tax (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Major components of tax expense (income) [abstract]
Tax expense other than income tax expense	$ 185	$ 130	$ 116

Financial risk management obj_3

Financial risk management objectives and policies - Interest rate risk (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Disclosure of detailed information about financial instruments [abstract]
Increase in Libor	15	15
Effect on loss (Increase in Libor)	$ (52)	$ (57)
Decrease in Libor	(20)	(20)
Effect on loss (Decrease in Libor)	$ 69	$ 75

Financial risk management obj_4

Financial risk management objectives and policies - Foreign currency risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of risk management strategy related to hedge accounting [line items]
Effect on loss (Increase in Euro exchange rate)	$ (52)	$ (57)
Effect on loss (Decrease in Euro exchange rate)	$ 69	$ 75
Currency risk [member]
Disclosure of risk management strategy related to hedge accounting [line items]
Increase in Euro exchange rate	10.00%	10.00%
Effect on loss (Increase in Euro exchange rate)	$ (478)	$ (258)
Decrease in Euro exchange rate	(10.00%)	(10.00%)
Effect on loss (Decrease in Euro exchange rate)	$ 478	$ 258

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of credit risk exposure [line items]
Revenue	$ 43,211	$ 11,753	$ 15,623
Percentage of entity's revenue	100.00%	100.00%	100.00%
A [Member]
Disclosure of credit risk exposure [line items]
Revenue	$ 7,726	$ 0	$ 0
Percentage of entity's revenue	18.00%	0.00%	0.00%
B [Member]
Disclosure of credit risk exposure [line items]
Revenue	$ 4,571	$ 0	$ 0
Percentage of entity's revenue	11.00%	0.00%	0.00%
C [Member]
Disclosure of credit risk exposure [line items]
Revenue	$ 0	$ 751	$ 3,476
Percentage of entity's revenue	0.00%	6.00%	22.00%
Other [Member]
Disclosure of credit risk exposure [line items]
Revenue	$ 30,914	$ 11,002	$ 12,147
Percentage of entity's revenue	71.00%	94.00%	78.00%

Financial risk management obj_6

Financial risk management objectives and policies - Liquidity risk (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of financial liabilities [line items]
Long-term debt	$ 35,505	$ 41,416
Lease liabilities	952	638
Accrued liabilities and other payables	3,676	2,159
Trade accounts payables	1,100	4,758
Current portion of fair value of derivative financial instruments	92
Total	41,325	48,971
Less than 3 months [member]
Disclosure of financial liabilities [line items]
Long-term debt	1,566	2,302
Lease liabilities	92	106
Accrued liabilities and other payables	3,676	2,159
Trade accounts payables	1,100	4,758
Current portion of fair value of derivative financial instruments	23
Total	6,457	9,325
3 to 12 months [member]
Disclosure of financial liabilities [line items]
Long-term debt	4,614	6,752
Lease liabilities	275	106
Accrued liabilities and other payables	0	0
Trade accounts payables	0	0
Current portion of fair value of derivative financial instruments	69
Total	4,958	6,858
1 to 5 years [member]
Disclosure of financial liabilities [line items]
Long-term debt	29,325	32,362
Lease liabilities	585	426
Accrued liabilities and other payables	0	0
Trade accounts payables	0	0
Current portion of fair value of derivative financial instruments	0
Total	29,910	32,788
More than 5 years [member]
Disclosure of financial liabilities [line items]
Long-term debt	0	0
Lease liabilities	0	0
Accrued liabilities and other payables	0	0
Trade accounts payables	0	0
Current portion of fair value of derivative financial instruments	0
Total	$ 0	$ 0

Fair values measurement (Detail

Fair values measurement (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of fair value measurement of assets [line items]
Non-current derivative financial assets	$ 417	$ 0
Non-current derivative financial liabilities	92
Long -term borrowings	31,750	37,000
Financial liabilities	41,325	48,971
Financial liabilities measured at fair value [member]
Disclosure of fair value measurement of assets [line items]
Non-current derivative financial liabilities	92
Financial liabilities, at fair value	92
At fair value [member] | Financial liabilities measured at fair value [member]
Disclosure of fair value measurement of assets [line items]
Non-current derivative financial liabilities	92
At fair value [member] | Financial liabilities not measured at fair value [member]
Disclosure of fair value measurement of assets [line items]
Long -term borrowings	32,155	37,961
At fair value [member] | Level 2 [member] | Financial liabilities measured at fair value [member]
Disclosure of fair value measurement of assets [line items]
Non-current derivative financial liabilities	92
At fair value [member] | Level 2 [member] | Financial liabilities not measured at fair value [member]
Disclosure of fair value measurement of assets [line items]
Long -term borrowings	32,155	37,961
Financial liabilities not measured at fair value [member]
Disclosure of fair value measurement of assets [line items]
Long -term borrowings	31,750	37,000
Financial liabilities	31,750	$ 37,000
Financial assets measured at fair value [member]
Disclosure of fair value measurement of assets [line items]
Non-current derivative financial assets	417
Financial assets, at fair value	417
Financial assets measured at fair value [member] | At fair value [member]
Disclosure of fair value measurement of assets [line items]
Non-current derivative financial assets	417
Financial assets measured at fair value [member] | At fair value [member] | Level 2 [member]
Disclosure of fair value measurement of assets [line items]
Non-current derivative financial assets	$ 417