Globus Maritime Limited (GLBS) 20-F 15 Mar 24 2023 FY Annual report (foreign) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2023 shares
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, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
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, including the preferred stock purchase rights
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	Non-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
Document Financial Statement Error Correction [Flag]	false
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.
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 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
REVENUE:
Voyage revenues	$ 30,840	$ 61,390	$ 43,211
Management & consulting fee income	365	365	170
Total Revenues	31,205	61,755	43,381
EXPENSES & OTHER OPERATING INCOME:
Voyage expenses	(3,936)	(5,373)	(1,128)
Vessel operating expenses	(16,090)	(18,012)	(13,808)
Depreciation	(4,725)	(5,600)	(3,910)
Depreciation of dry-docking costs	(4,185)	(4,646)	(2,751)
Administrative expenses	(3,541)	(2,876)	(2,610)
Administrative expenses payable to related parties	(713)	(1,412)	(1,361)
Share-based payments	0	0	(40)
Reversal of impairment	4,400	0	0
Gain from sale of vessel	3,876	0	0
Other (expenses)/income, net	(14)	(204)	171
Operating income	6,277	23,632	17,944
Interest income	2,634	375	8
Interest expense and finance costs	(4,354)	(2,320)	(3,262)
Gain from the modification of the Loan	417	0	0
Gain on derivative financial instruments	388	2,520	181
Foreign exchange gains/(losses), net	(90)	73	79
TOTAL INCOME FOR THE YEAR	5,272	24,280	14,950
Other Comprehensive Income	0	0	0
TOTAL COMPREHENSIVE INCOME FOR THE YEAR	$ 5,272	$ 24,280	$ 14,950
Earnings per share (U.S.$):
-Diluted income per share for the period	$ 0.26	$ 1.18	$ 1.01
-Basic income per share for the period	$ 0.26	$ 1.18	$ 1.01

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
NON-CURRENT ASSETS
Vessels, net	$ 100,557	$ 129,461
Advances for vessel purchase	47,246	28,172
Office furniture and equipment	85	90
Right of use asset	182	493
Restricted cash	3,530	3,590
Fair value of derivative financial instruments	495	1,315
Other non-current assets	10	10
Total non-current assets	152,105	163,131
CURRENT ASSETS
Current portion of fair value of derivative financial instruments	808	1,092
Trade accounts receivable, net	1,151	109
Inventories	1,256	3,028
Prepayments and other assets	1,789	2,887
Restricted cash	90	2,378
Cash and cash equivalents	74,202	52,833
Total current assets	79,296	62,327
TOTAL ASSETS	231,401	225,458
EQUITY
Issued share capital	82	82
Share premium	284,406	284,406
Accumulated deficit	(108,518)	(113,790)
Total equity	175,970	170,698
NON-CURRENT LIABILITIES
Long-term borrowings, net of current portion	45,759	37,522
Provision for staff retirement indemnities	171	148
Lease liabilities	0	188
Total non-current liabilities	45,930	37,858
CURRENT LIABILITIES
Current portion of long-term borrowings	6,500	6,803
Trade accounts payable and other	362	3,548
Accrued liabilities and other payables	1,763	5,814
Current portion of lease liabilities	188	321
Deferred revenue	688	416
Total current liabilities	9,501	16,902
TOTAL LIABILITIES	55,431	54,760
TOTAL EQUITY AND LIABILITIES	$ 231,401	$ 225,458

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, 2020	$ 12	$ 195,102	$ (153,020)	$ 42,094
Income for the year	0	0	14,950	14,950
Other comprehensive income	0	0	0	0
Total comprehensive income	0	0	14,950	14,950
Share-based payments	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
Income for the year	0	0	24,280	24,280
Other comprehensive income	0	0	0	0
Total comprehensive income	0	0	24,280	24,280
Balance at Dec. 31, 2022	82	284,406	(113,790)	170,698
Income for the year	0	0	5,272	5,272
Other comprehensive income	0	0	0	0
Total comprehensive income	0	0	5,272	5,272
Balance at Dec. 31, 2023	$ 82	$ 284,406	$ (108,518)	$ 175,970

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities
Income for the year	$ 5,272	$ 24,280	$ 14,950
Adjustments for:
Depreciation	4,725	5,600	3,910
Depreciation of deferred dry-docking costs	4,185	4,646	2,751
Payment of deferred dry-docking costs	(10,433)	(2,995)	(3,664)
Provision for staff retirement indemnities	23	35	83
Reversal of impairment	(4,400)	0	0
Gain on derivative financial instruments	(388)	(2,520)	(181)
Gain on sale of vessel	(3,876)	0	0
Interest expense and finance costs	4,354	2,320	3,262
Gain from the modification of the Loan	(417)	0	0
Interest income	(2,634)	(375)	(8)
Foreign exchange (gains)/losses, net	64	(26)	(87)
Share based payment	0	0	40
Trade accounts receivable	(1,042)	894	(850)
Inventories	1,772	(2,176)	396
Prepayments and other assets	1,098	(1,663)	(197)
Trade accounts payable	(3,385)	2,721	(1,917)
Accrued liabilities and other payables	355	(2,207)	503
Deferred revenue	272	(1,628)	1,759
Net cash generated from / (used in) operating activities	(4,455)	26,906	20,750
Cash flows from investing activities:
Vessel acquisition	0	0	(71,600)
Net Proceeds from sale of vessel	35,097	0	0
Advances for vessel acquisition	(19,074)	(28,172)	0
Vessels’ improvements	(161)	(1,178)	(332)
Purchases of office furniture and equipment	(37)	(33)	(36)
Interest received	2,634	375	8
Net cash generated from / (used in) investing activities	18,459	(29,008)	(71,960)
Cash flows from financing activities:
Proceeds from loans	25,000	18,000	34,250
Repayment of long-term debt	(6,250)	(5,375)	(3,993)
Prepayment of long-term debt	(10,505)	0	(35,507)
Proceeds from issuance of share capital	0	0	89,580
Proceeds from exercise of Warrants	0	0	25
Transaction costs on issuance of new common shares	0	0	(401)
(Increase)/decrease in restricted cash	2,348	(744)	(3,158)
Payment of financing costs	(406)	(259)	(545)
Payment of lease liability - principal	(321)	(286)	(241)
Interest paid	(2,501)	(1,614)	(2,624)
Net cash generated from financing activities	7,365	9,722	77,386
Net increase in cash and cash equivalents	21,369	7,620	26,176
Cash and cash equivalents at the beginning of the year	52,833	45,213	19,037
Cash and cash equivalents at the end of the year	$ 74,202	$ 52,833	$ 45,213

Basis of presentation and gener

Basis of presentation and general information	12 Months Ended
	Dec. 31, 2023
Disclosure of subsidiaries [abstract]
Basis of presentation and general information	1. Basis of presentation and general information The accompanying consolidated financial statements include the financial statements of Globus Maritime Limited (“Globus”) and its wholly owned subsidiaries (collectively the “Company”). Globus was formed on July 26, 2006, under the laws of Jersey. On June 1, 2007, Globus concluded its initial public offering in the United Kingdom and its shares were admitted for trading on the Alternative Investment Market (“AIM”). On November 24, 2010, Globus was redomiciled to the Marshall Islands and its common shares were admitted for trading in the United States (NASDAQ Global Market) under the Securities Act of 1933, as amended. On November 26, 2010, Globus’ shares were delisted from AIM. The registered address of Globus is: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. The principal business of the Company is the ownership and operation of a fleet of dry bulk motor vessels (“m/v”), providing maritime services for the transportation of dry cargo products on a worldwide basis. The Company conducts its operations through its vessel owning subsidiaries. The operations of the vessels are managed by Globus Shipmanagement Corp. (the “Manager”), a wholly owned Marshall Islands corporation. The Manager has an office in Greece, located at 128 Vouliagmenis Avenue, 166 74 Glyfada, Greece and provides the commercial, technical, cash management and accounting services necessary for the operation of the fleet in exchange for a management fee. The management fee is eliminated on consolidation. The consolidated financial statements include the financial statements of Globus and its subsidiaries listed below, all wholly owned by Globus as at December 31, 2023: 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 Artful Shipholding S.A. Marshall Islands June 22, 2011 m/v Moon 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 Salaminia Maritime Limited Marshall Islands November 29, 2021 m/v Orion Globe Calypso Shipholding S.A. Marshall Islands — Hull No: S-1885* Daxos Maritime Limited Marshall Islands — Hull No: NE-442* Olympia Shipholding S.A. Marshall Islands — Hull No: S-K192* Paralus Shipholding S.A. Marshall Islands — Hull No: NE-443* Thalia Shipholding S.A. Marshall Islands — Hull No: S-3012* Longevity Maritime Limited Malta September 15, 2011 ** Domina Maritime Ltd. Marshall Islands May 19, 2010 *** Dulac Maritime S.A. Marshall Islands May 25, 2010 ****      * New building vessels    ** m/v Sun Globe was sold and delivered to her new owners on June 5, 2023 (Note 5)    *** m/v Sky Globe was sold and delivered to her new owners on September 7, 2023 (Note 5)    **** m/v Star Globe was sold and delivered to her new owners on September 13, 2023 (Note 5) The consolidated financial statements as at December 31, 2023 and 2022 and for the three years in the period ended December 31, 2023, were approved for issuance by the Board of Directors on March 14, 2024.

Basis of Preparation and Accoun

Basis of Preparation and Accounting Policies	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Basis of Preparation and Accounting Policies	2.        Basis of Preparation and Accounting Policies 2.1         Basis of Preparation: The consolidated financial statements have been prepared on a historical cost basis, except for derivative financial instruments which are measured at fair value. The consolidated financial statements are presented in U.S. dollars and all values are rounded to the nearest thousand ($ 000s) except when otherwise indicated. Going concern basis of accounting: 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. As at December 31, 2023, the Company reported a total comprehensive income for the year of $ 5,272 , Cash and cash equivalents of $ 74,202 , a working capital surplus of $ 69,795 and was in compliance with its debt covenants. 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. Conflicts 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. Furthermore, the intensity and duration of the recently declared war between Israel and Hamas is difficult to predict and its impact on the world economy and drybulk industry is uncertain. While much uncertainty remains regarding the global impact of the war between Israel and Hamas, it is possible that such tensions could result in the eruption of further hostilities in other regions, including the Red Sea, and could adversely affect the Company’s business, financial conditions, operating results, and cash flows. 2.       Basis of Preparation and Accounting Policies (continued) Statement of Compliance: International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). 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, 2023: • 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. The Company revisited and updated its accounting policies to apply the requirements of the amendments to IAS 1. The amendments had no material impact on the financial statements of the Company. · IFRS 17 insurance contracts, · IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates (Amendments), · IAS 12 Income taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments), · IAS 12 Income taxes: International Tax Reform - Pillar Two Model Rules (Amendments) These newly adopted IFRS and amendments to IFRS did not have a material impact on the Company’s accounting policies. Standards issued but not yet effective and not early adopted: • IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current (Amendments) The amendments are effective for annual reporting periods beginning on or after January 1, 2024, with earlier application permitted. Management is in process of assessing the effect of these amendments on the Company’s financial statements and disclosures. • IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments Disclosure - Supplier Finance Arrangements (Amendments). The amendments are effective for annual reporting periods beginning on or after January 1, 2024, with earlier application permitted. Management is in process of assessing the effect of these amendments on the Company’s financial statements and disclosures. · IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability (Amendments). The amendments are effective for annual reporting periods beginning on or after January 1, 2025, with earlier application permitted. Management is in process of assessing the effect of these amendments on the Company’s financial statements and disclosures. · 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. 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. · IFRS 16 Leases: Lease Liability in a Sale and Leaseback (amendments). The amendments are effective for annual reporting periods beginning on or after January 1, 2024, with earlier application permitted. Management is in process of assessing the effect of these amendments on the Company’s financial statements and disclosures. The Company plans to adopt these standards on their respective effective dates. 2.        Basis of Preparation and Accounting Policies (continued) 2.3 Accounting policies, judgments, estimates and assumptions: The preparation of consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the amounts of revenues and expenses recognized during the reporting period. However, uncertainty about these assumptions and estimates could result in outcomes that could require a material adjustment to the carrying amount of the asset or liability affected in the future. Judgments: Impairment and Reversal of previously recognized impairment: The Company considers the following indicators of impairment/reversal of impairment: Ø Observable significant decrease / increase in vessel’s market value; Ø Significant adverse / favorable changes in the technological, economic or legal environment incurred or are expected to be incurred and negatively / positively affect vessel’s value or decrease / increase its revenue generating ability; and Ø Market interest rates of return on investments have increased / decreased during the period, which will result in increase /decrease of the discount rate. To evaluate the presence of impairment/reversal of impairment indicators the Company assessed current market conditions as derived from historical information including analysis over vessel market charter rates and market prices, recent vessels sales and purchase activity, independent brokers valuations reports and also assesses forward looking industry information regarding vessels market values as well as various qualitative factors. Based on such assessment performed as of December 31, 2023 and 2022, the Company concluded that no indicators for impairment were present as of December 31, 2023 and 2022 and no impairment was recorded for the years ended December 31, 2023 and 2022. Following the agreement to sell Sun Globe and given the significant increase in the vessel’s market value, the Company assessed that there were indications that impairment losses recognized in the previous periods with respect to this vessel have decreased. Therefore, the carrying amount of the vessel was increased to its recoverable amount, determined based on selling price less cost to sell, and the Company recorded reversal of impairment amounting $ 4,400 No          2.       Basis of Preparation and Significant Accounting Policies (continued) Estimates and assumptions: Ø   Carrying amount of vessels, net Ø Impairment of Vessels and Reversal of previously recognized impairment losses 2.4 Accounting for revenue and related expenses: The Company generates its revenues from charterers for the charter hire of its vessels. Vessels are chartered using time charters, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily charter hire rate. If a time charter agreement exists and collection of the related revenue is reasonably assured, revenue is recognized on a straight-line basis over the period of the time charter. Such Voyage Revenues are treated in accordance with IFRS 16 as lease income, while the portion of time charter revenues related to technical management services are recognized in accordance with IFRS 15. Associated broker commissions are recognized on a pro-rata basis over the duration of the period of the time charter. Deferred revenue relates to cash received prior to the financial position date and is related to revenue earned after such date. Interest income Voyage expenses Vessel operating expenses 2.5 Foreign currency translation: The functional currency of Globus and its subsidiaries is the U.S. dollar, which is also the presentation currency of the Company, since the Company’s vessels operate in international shipping markets, whereby the U.S. dollar is the currency used for transactions. Transactions involving other currencies during the period are converted into U.S. dollars using the exchange rates in effect at the time of the transactions. At the financial position dates, monetary assets and liabilities, which are denominated in currencies other than the U.S. dollar, are translated into the functional currency using the period-end exchange rate. Gains or losses resulting from foreign currency transactions are included in foreign exchange gains/(losses), net in the consolidated statement of comprehensive income. 2.6 Cash and cash equivalents: The Company considers highly liquid investments such as time deposits and certificates of deposit with original maturity of three months or less to be cash and cash equivalents. 2.7 Trade accounts receivable, net: The amount shown as trade accounts receivable at each financial position date includes estimated recoveries from charterers for hire, net of an allowance for doubtful accounts. Trade accounts receivable without a significant financing component are initially measured at their transaction price and subsequently measured at amortized cost less impairment losses, which are recognized in the consolidated statement of comprehensive income. At each financial position date, all potentially uncollectible accounts are assessed individually for the purpose of determining the appropriate provision for expected credit losses. The provision for expected credit losses at December 31, 2023 and 2022 was nil. 0 2.8          Inventories: Inventories consist of lubricants, bunkers and gas cylinders and are stated at the lower of cost and net realizable value. The cost is determined by the first-in, first-out method. 2.       Basis of Preparation and Significant Accounting Policies (continued) 2.9 Vessels, net: Vessels are stated at cost, less accumulated depreciation (including depreciation of dry-docking cost) and accumulated impairment losses. Vessel cost consists of the contract price for the vessel and any material expenses incurred upon acquisition (initial repairs, improvements and delivery expenses, interest, commissions paid and on-site supervision costs incurred during the construction periods). Subsequent expenditures for conversions and major improvements are also capitalized when the recognition criteria are met. Otherwise, these amounts are charged to expenses as incurred. 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 years. The costs associated with the dry-dockings are capitalized and depreciated on a straight-line basis over the period between dry-dockings, to a maximum of 2.5 years. At the date of acquisition of a vessel, management estimates the component of the cost that corresponds to the economic benefit to be derived until the first scheduled dry-docking of the vessel under the ownership of the Company and this component is depreciated on a straight-line basis over the remaining period through the estimated dry-docking date. 2.11 Depreciation: The cost of each of the Company’s vessels is depreciated on a straight-line basis over each vessel’s remaining useful economic life, after considering the estimated residual value of each vessel, beginning when the vessel is ready for its intended use. Management estimates that the useful life of new vessels is 25 years , which is consistent with industry practice. The residual value of a vessel is the product of its lightweight tonnage and estimated scrap value per lightweight ton. The residual values and useful lives are reviewed at each reporting date and adjusted prospectively. During the fourth quarter of 2021, the Company adjusted the scrap rate from $300/ton (absolute amount) to $ 380 /ton (absolute amount) due to the increased scrap rates worldwide. This resulted to a decrease of $ 145 to the depreciation charge included in the consolidated statement of comprehensive income for 2021. During the fourth quarter of 2022, the Company adjusted the scrap rate from $380/ton (absolute amount) to $ 440 /ton (absolute amount) due to the increased scrap rates worldwide. This resulted to a lower amount of $ 118 to the depreciation charge included in the consolidated statement of comprehensive income for 2022. During the fourth quarter of 2023, the Company adjusted the scrap rate from $440/ton to $ 480 62 2.12 Impairment of Long-Lived Assets and Reversal of previously recognized impairment losses: The Company assesses at each reporting date whether there is an indication that a vessel may be impaired. The Company has considered various indicators, including but not limited to the current level of market hire rates, the market price of its vessels, the economic outlook, technological, regulatory and environmental developments. The vessel’s recoverable amount is estimated when events or changes in circumstances indicate the carrying value may not be recoverable. If such indication exists and where the carrying value exceeds the estimated recoverable amounts, the vessel is written down to its recoverable amount. The recoverable amount is the greater of fair value less costs to sell and value-in-use. In assessing value-in-use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the vessel. Impairment losses are recognized in the consolidated statement of comprehensive income. The Company assesses also at each reporting date whether there is any indication that an impairment loss recognized in prior periods for a vessel may no longer exist or may have decreased. A previously recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. If that is the case, the carrying amount of the asset is increased to its recoverable amount. That increased amount cannot exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Such a reversal is recognized in the consolidated statement of comprehensive income. After such a reversal, the depreciation charge is adjusted in future periods to allocate the asset’s revised carrying amount, less any residual value, on a systematic basis over its remaining useful life (refer to note 5). 2.13 Long-term debt: Long-term debt is initially recognized at the fair value of the consideration received net of financing costs directly attributable to the borrowing. After initial recognition, long-term debt is subsequently measured at amortized cost using the effective interest rate method. Amortized cost is calculated by taking into account any financing costs and any discount or premium on settlement. Gains and losses are recognized in the income statement component of the consolidated statement of comprehensive income when the liabilities are derecognized or impaired, as well as through the amortization process. Accrued interest at the end of the reporting period is added at the current portion of long-term debt. 2.14 Financing costs: Fees incurred for obtaining new loans or refinancing existing loans are deferred and amortized over the life of the related debt, using the effective interest rate method. Any unamortized balance of costs relating to loans repaid or refinanced is expensed in the period the repayment or refinancing is made. For the year ended December 31, 2023, the Company deferred financing costs of $ 406 , which relate to the costs incurred for the top up loan amount of $ 25,000 with First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) (“First-Citizens Bank”) (This loan facility is referred to as the “CIT Loan Facility”, see Note 11 for more details). For the year ended December 31, 2022, the Company deferred financing costs of $ 259 , which relate to the costs incurred for the top up loan amount of $ 18,000 under the CIT Loan Facility (see Note 11 for more details). For the year ended December 31, 2021, the Company deferred financing costs of $ 545 , which relate to the costs incurred for CIT Loan Facility (see Note 11 for more details). 2.       Basis of Preparation and Accounting Policies (continued) 2.15        Borrowing costs: Borrowing costs consist of interest and other costs that the Company incurs in connection with the borrowing of funds. Borrowing costs are expensed to the income statement component of the consolidated statement of comprehensive income as incurred under “interest expense and finance costs” except borrowing costs that relate to a qualifying asset. A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use. Borrowing costs that relate to qualifying assets are capitalized. 2.16       Operating segment: The Company reports financial information and evaluates its operations by charter revenues and not by other factors such as length of ship employment for its customers i.e., spot or time charters or type of vessel. The Company does not use discrete financial information to evaluate the operating results for each such type of charter. Although revenue can be identified for these types of charters, management cannot and does not identify expenses, profitability or other financial information for these charters. As a result, management, including the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet and thus the Company has determined that it operates as one operating segment. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographical information is impracticable. 2.17 Provisions and contingencies: Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and, a reliable estimate of the amount of the obligation can be made. Provisions are reviewed at each financial position date and adjusted to reflect the present value of the expenditure expected to be required to settle the obligation. Contingent liabilities are not recognized in the consolidated financial statements but are disclosed unless the possibility of an outflow of resources embodying economic benefits is remote, in which case there is no disclosure. Contingent assets are not recognized in the consolidated financial statements but are disclosed when an inflow of economic benefits is probable. 2.18         Offsetting of financial assets and liabilities: Financial assets and liabilities are offset and the net amount is presented in the consolidated financial position only when the Company has a legally enforceable right to set off the recognized amounts and intend either to settle such asset and liability on a net basis or to realize the asset and settle the liability simultaneously. 2.19       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. 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 The financial assets at amortized cost consist of trade accounts receivable and cash and cash equivalents. 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 realizing 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 derecognized 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. 2. Basis of Preparation and Significant Accounting Policies (continued) 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 recognized to the extent of the Company’s continuing involvement in the asset. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Company could be required to repay. iv. Derecognition of Financial liabilities: A financial liability is derecognized 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 recognized in profit or loss. 2.20       Leases: Leases – where the Company is the lessee: At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. 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 or a change in the lease payments. 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 as 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 $ 16,473 14,367 2. Basis of Preparation and Significant Accounting Policies (continued) 2.21       Share capital and Warrants: Common shares and preferred shares are classified as equity. Incremental costs directly attributable to the issue of new shares are recognized 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. 2.22      Fair value measurement: The Company measures financial instruments, such as derivatives at fair value at each reporting date. In addition, fair values of financial instruments measured at amortized 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, maximizing the use of relevant observable inputs and minimizing 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 recognized at fair value 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. 2.23       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 realized or intended to be sold or consumed in a normal operating cycle; • held primarily for the purpose of trading; • expected to be realized within twelve months after the reporting period; or • cash or cash equivalent All other assets are classified as non-cur

Cash and cash equivalents and R

Cash and cash equivalents and Restricted cash	12 Months Ended
	Dec. 31, 2023
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, 2023 2022 Cash on hand 11 36 Cash at banks 74,191 52,797 Total 74,202 52,833 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, 2023 and 2022, was $ 74,202 and $ 52,833 , respectively. As at December 31, 2023 and 2022, the Company had pledged an amount of $ 3,620 and $ 5,968 , respectively, in order to fulfill collateral requirements. The fair value of the restricted cash as at December 31, 2023 was $ 3,620 , $ 3,530 90 5,968 , $ 3,590 included in non-current assets and $ 2,378 included in current assets as at December 31, 2022. 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, 2023
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, 2023, 2022 and 2021: In August 2006, Globus entered into a rental agreement for 350 square meters 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 meters 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. In June 2022, the Company entered into a new rental agreement with F.G. Europe (an affiliate of Globus’s chairman) for the same office space, at the same rate of Euro 26,000 (absolute amount) and with the same lease period ending of August 4, 2024 . The previous rental agreement with Cyberonica was terminated resulting in a gain of $ 40 classified in the income statement component of the consolidated statement of comprehensive income under interest and finance costs. The Company does not presently own any real estate. During the years ended December 31, 2023, 2022 and 2021, the rent charged amounted to $ 349 , $ 341 and $ 242 , respectively. The depreciation charge for right-of-use assets for the years ended December 31, 2023, 2022 and 2021, was $ 311 , $ 327 and $ 206 , respectively, and was recognized in the income statement component of the consolidated statement of comprehensive income under depreciation. The interest expense on lease liabilities for the years ended December 31, 2023, 2022 and 2021, was $ 28 , $ 54 and $ 52 , respectively, and recognized under interest expense and finance costs in the income statement component of the consolidated statement of comprehensive income. The total cash outflows for leases for the years ended December 31, 2023, 2022 and 2021, were approximately $ 339 , $ 341 and $ 314 , respectively, and were recognized 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 (“CFO”). On August 18, 2016, the Company entered into a consultancy agreement with an affiliated company (Goldenmare Limited) of its CEO and CFO, 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 and CFO at an annual fee of Euro 200,000 (absolute amount). 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 $ 1,500 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 $ 1,500 to Goldenmare Limited pursuant to the consultancy agreement, half of which was 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, which has been paid as of December 31, 2023. The related expense for the years ended December 31, 2023, 2022 and 2021, amounted to $ 432 , $ 1,172 and $ 1,216 , respectively. 4. Transactions with Related Parties (continued) 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, 2023, and 2022, Goldenmare Limited owned 10,300 of the Company’s Series B preferred shares. Each Series B preferred share has 25,000 votes, provided that no holder of Series B preferred shares may exercise voting rights pursuant to Series B preferred shares that would result in the aggregate voting power of the beneficial owner of any such holder of Series B preferred shares, together with its affiliates, exceeding 49.99% of the total number of votes eligible to be cast on any matter submitted to a vote of shareholders. Except as otherwise provided by applicable law, holders of the Company’s Series B preferred shares and the Company’s common shares vote together as a single class on all matters submitted to a vote of shareholders, including the election of directors. Athanasios Feidakis has substantial control 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, 2023, 2022 and 2021, Mr. George Feidakis beneficially owned 24.9 %, 3.7 % and 3.7 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. 4. Transactions with Related Parties (continued) On February 14, 2022 the Company changed the compensation of the non-executive directors. In the aggregate, the annual service fee for each of the directors (based on their current roles and committee seats) has been set at $ 80 , payable in cash, based on the annual service fees, committee fees, and other similar fees. Compensation of Key Management Personnel of the Company: Compensation to Globus non-executive directors is analyzed as follows: Transactions with Related Parties - Compensation to the Company’s Non-Executive Directors For the year ended December 31, 2023 2022 2021 Directors’ remuneration 240 240 145 Share-based payments — — 40 Total 240 240 185 As at December 31, 2023, and 2022, $ 60 of the compensation to non-executive directors was remaining due and unpaid, for both December 31, 2023 and 2022. Amounts payable to non-executive directors are classified as trade accounts payable and other in the consolidated statements of financial position. Compensation to the Company’s executive director is analyzed as follows: Transactions with Related Parties - Compensation to the Company's Executive Director For the year ended December 31, 2023 2022 2021 Short-term employee benefits 432 1,172 1,216 Total 432 1,172 1,216 As at December 31, 2023, and 2022, $ 77 and $ 2,088 of the compensation to the executive director was remaining due and unpaid, respectively.

Vessels, net

Vessels, net	12 Months Ended
	Dec. 31, 2023
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 analyzed 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, 2021 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 Additions/ Dry Docking Component 1,178 — 7,438 — 8,616 Depreciation expense — (5,233) — (4,646) (9,879) Balance at December 31, 2022 234,916 (113,009) 23,365 (15,811) 129,461 Additions/ Dry Docking Component 161 — 6,324 — 6,485 Reversal of Impairment 4,400 — — — 4,400 Depreciation expense — (4,372) — (4,185) (8,557) Sale of vessel (58,219) 31,149 (13,444) 9,282 (31,232) Balance at December 31, 2023 181,258 (86,232) 16,245 (10,714) 100,557 5. Vessels, net (continued) For the purpose of the consolidated statement of comprehensive income, 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, 2023 2022 2021 Vessels’ depreciation 4,372 5,233 3,665 Depreciation on office furniture and equipment 42 40 39 Depreciation of right of use asset (Note 16) 311 327 206 Total 4,725 5,600 3,910 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 (absolute amount). 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 (absolute amount), the vessel cost amounted to $ 26.4 0.6 million (absolute amount). 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 (absolute amount), the vessel cost amounted to $ 27.9 million (absolute amount), and the initial dry-docking component amounted to $ 0.5 million (absolute amount). 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”. On March 6, 2023, the Company, through a wholly owned subsidiary, entered into an agreement to sell the 2007 -built Sun Globe for a gross price of $ 14.1 million (absolute amount), before commissions, to an unaffiliated third party. Following the agreement to sell Sun Globe and given the significant increase in the vessel’s market value, the Company assessed that there were indications that impairment losses recognised in the previous periods with respect to this vessel have decreased. Therefore, the carrying amount of the vessel was increased to its recoverable amount, determined based on selling price less cost to sell, which amounted to $13,617, and the Company recorded reversal of impairment amounting $ 4,400 , during the first quarter of 2023. The vessel was delivered to its new owners on June 5, 2023 and the Company recorded a gain of $ 71 which is included in the consolidated statement of comprehensive income. On August 11, 2023, the Company, through a wholly owned subsidiary, entered into an agreement to sell the 2009 -built Sky Globe for a gross price of $ 10.7 million (absolute amount), before commissions, to an unaffiliated third party. The vessel was delivered to its new owners on September 7, 2023. The Company recognized a gain of approximately $ 2.2 million (absolute amount) as a result of the sale, which is included in the income statement component of the consolidated statement of comprehensive income. On August 16, 2023, the Company, through a wholly owned subsidiary, entered into an agreement to sell the 2010 -built Star Globe for a gross price of $ 11.2 million (absolute amount), before commissions, to an unaffiliated third party. The vessel was delivered to its new owners on September 13, 2023. The Company recognized a gain of approximately $ 1.6 million (absolute amount) as a result of the sale, which is included in the income statement component of the consolidated statement of comprehensive income. 5. Vessels, net (continued) On August 18, 2023, the Company signed two contracts for the construction and purchase of two fuel efficient bulk carrier of about 64,000 dwt each. The two vessels will be built at a reputable shipyard in Japan and are scheduled to be delivered during the second half of 2026 . The total consideration for the construction of both vessels is approximately $ 75.5 million (absolute amount), which the Company intends to finance with a combination of debt and equity. In August 2023 the Company paid the first instalment of $ 7.5 million (absolute amount) for both vessels under construction. As at December 31, 2023 the Company’s vessels have been pledged as collateral to secure the bank loans discussed in note 11. During the year ended December 31, 2022 the Company installed ballast water treatment system (“BWTS”) on five of its vessels amounting to an addition of approximately $ 1.1 million (absolute amount). As at December 31, 2023, 2022 and 2021, the Company performed an assessment on whether there were indicators that the vessels may be impaired and no impairment indicators or indicators that previously recorded impairment needs to be reversed were identified for the Company’s vessels.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2023
Classes of current inventories [abstract]
Inventories	6. Inventories Inventories in the consolidated statement of financial position are analyzed as follows: Inventories December 31, 2023 2022 Lubricants 533 1,062 Gas cylinders 59 133 Bunkers 664 1,833 Total 1,256 3,028

Trade accounts payable

Trade accounts payable	12 Months Ended
	Dec. 31, 2023
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, 2023 and 2022, amounted to $ 362 and $ 3,548 , respectively. Trade accounts payable are non-interest bearing.

Accrued liabilities and other p

Accrued liabilities and other payables	12 Months Ended
	Dec. 31, 2023
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 analyzed as follows: Accrued liabilities and other payables December 31, 2023 2022 Accrued audit fees 122 77 Other accruals 1,393 5,552 Insurance deductibles 131 104 Other payables 117 81 Total 1,763 5,814 Other payables are non-interest bearing.

Share Capital and Share Premium

Share Capital and Share Premium	12 Months Ended
	Dec. 31, 2023
Disclosure of classes of share capital [abstract]
Share Capital and Share Premium	9. Share Capital and Share Premium The authorized share capital of Globus consisted of the following: Share Capital and Share Premium - Authorized share capital December 31, 2023 2022 2021 Authorized 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 authorized share capital 2,200 2,200 2,200 Holders of the Company’s common shares and Class B common 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 common shares are entitled to twenty votes per share. Each holder of Class B common shares may convert, at its option, any or all of the Class B common 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, 2021 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 Issued during the year — — As at December 31, 2022 20,582,301 82 Issued during the year — — As at December 31, 2023 20,582,301 82 During the year ended December 31, 2021, Globus issued 12,178 common shares (par value $ 0.004 per share) as share-based payments. For the years ended December 31, 2023 and 2022 Globus has not issued any common shares as share-based payment. As at December 31, 2023, 2022 and 2021, no Class B common shares or Series A preferred shares (par value $ 0.001 per share) were outstanding. 0 On August 3, 2023, the Company entered into a Shareholders Rights Agreement between the Company and Computershare Trust Company, N.A., as rights agent, and the Company’s board of directors authorized and declared a dividend distribution of one right for each outstanding common share to shareholders of record as of the close of business on August 21, 2023. Each right entitles the registered holder to purchase from the Company one one-thousandth of a share of Series C Participating Preferred Stock at an exercise price of $5.00 (absolute amount) per one one-thousandth of a preferred share, subject to adjustment. The board of directors has adopted the Rights Agreement to protect shareholders from coercive or otherwise unfair takeover tactics. In general terms, it works by imposing a significant penalty upon, subject to limited exceptions, any person or group that acquires 15% or more of the outstanding common shares without the approval of the board of directors. If a shareholder’s beneficial ownership of the Company’s common shares as of the time of the public announcement of the rights plan and associated dividend declaration is at or above the applicable threshold, that shareholder’s then-existing ownership percentage would be grandfathered, but the rights would become exercisable if at any time after such announcement, the shareholder increases its ownership percentage. The Rights Agreement should not interfere with any merger or other business combination approved by the board of directors. For persons who, prior to the time of public announcement of the Rights Agreement, beneficially own 15% or more of the outstanding common shares, the Rights Agreement “grandfathers” their current level of ownership, so long as they do not purchase additional shares in excess of certain limitations. In addition, Georgios Feidakis, Athanasios Feidakis, Konstantina Feidakis, Angelina Feidakis, Firment Shipping Inc. and Goldenmare Limited, or any of their respective affiliates are excluded from the definition of “Acquiring Person” (as defined in the Rights Agreement) and therefore may obtain beneficial ownership of 15% or more of the outstanding common shares without causing the Rights to be exercisable. Under the Rights Agreement’s terms, it will expire on February 3, 2025. 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 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 (absolute amount) 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 (absolute amount) per common share and expires five years from issuance. Total proceeds amounted to $ 12,695 before issuance expenses. The Class A Warrants are exercisable for a period of five years commencing on the date of issuance. If a registration statement registering the issuance of the common shares underlying the warrants under the Securities Act is not effective or available, 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. Globus may be required to pay certain amounts as liquidated damages as specified in the warrants in the event Globus does not deliver common shares upon exercise of the warrants within the time periods specified in the warrants. As at December 31, 2023 and 2022, 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. 9. Share Capital and Share Premium (continued) During June and July 2020, in two concurrent private placements with two registered direct offerings the Company issued 1,291,833 common shares and warrants (“PP Warrants”) to purchase 1,291,833 common shares. The exercise price of each PP Warrant was $ 18 (absolute amount) per common share. The exercise price of each PP Warrant issued in June 2020 was initially $ 30 (absolute amount) per common share but in July 2020 was reduced to $ 18 (absolute amount) per common share. The PP Warrants are exercisable for a period of five and one-half years commencing on the date of issuance. The warrants are 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 common shares in a timely fashion, the warrant contains certain liquidated damages provisions. As at December 31, 2023 and 2022, 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 among other things (a) 1,256,765 of its common shares, par value $ 0.004 per share, and (b) warrants (“December 2020 Warrants”) to purchase 1,270,587 common shares with an exercise price of $ 8.50 (absolute amount) per common share. The exercise price was reduced to $ 6.25 The December 2020 Warrants are exercisable for a period of five and one-half years commencing on the date of issuance. The warrants are 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 common shares in a timely fashion, the warrant contains certain liquidated damages provisions. As at December 31, 2023 and 2022, 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. On January 29, 2021, the Company entered into a securities purchase agreement with certain unaffiliated institutional investors to issue among other things (a) 2,155,000 common shares, par value $ 0.004 per share, and (b) 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 (absolute amount) per common share. The January 2021 Warrants are exercisable for a period of five and one-half years commencing on the date of issuance. The warrants are 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 common shares in a timely fashion, the warrant contains certain liquidated damages provisions. 9. Share Capital and Share Premium (continued) As at December 31, 2023 and 2022, 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 among other things (a) 3,850,000 common shares par value $ 0.004 per share, and (b) 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 (absolute amount) per common share. Total proceeds, net of commission retained by the placement agent, amounted to $ 27,891 , before issuance expenses of $ 152 . The February 2021 Warrants are exercisable for a period of five and one-half years commencing on the date of issuance. The warrants are 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 common shares in a timely fashion, the warrant contains certain liquidated damages provisions. As at December 31, 2023 and 2022, 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, and (b) 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 . The June 2021 Warrants are exercisable for a period of five and one-half years commencing on the date of issuance. The warrants are 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 common shares in a timely fashion, the warrant contains certain liquidated damages provisions. As at December 31, 2023 and 2022, 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 and the effects of the share-based payments. Accordingly, at December 31, 2023, 2022 and 2021, Globus share premium amounted to $ 284,406 .

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Earnings per Share	10. Earnings per Share Basic earnings per share (“EPS”) is calculated by dividing the net income for the year attributable to Globus shareholders by the weighted average number of shares issued, paid and outstanding. Diluted earnings per share is calculated by dividing the net income 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 years ended December 31, 2023, 2022 and 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 periods ended December 31, 2023, 2022 and 2021, these were not included in the computation of diluted EPS, because to do so would have anti-dilutive effect. The following reflects the net income per common share: Earnings/(Loss) per Share For the year ended December 31, 2023 2022 2021 Income attributable to common equity holders 5,272 24,280 14,950 Weighted average number of shares – basic and diluted 20,582,301 20,582,301 14,809,536    Earnings per common share – basic and diluted 0.26 1.18 1.01

Long-Term Debt, net

Long-Term Debt, net	12 Months Ended
	Dec. 31, 2023
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 Modification of Loan Accrued Interest Amortized cost Devocean Maritime LTD., Artful Shipholding S.A., Serena Maritime Limited, Salaminia Maritime Limited, Talisman Maritime Limited and Argo Maritime Limited. 52,620 (624) (358) 621 52,259 Total at December 31, 2023 52,620 (624) (358) 621 52,259 Less: Current Portion (6,258) 227 152 (621) (6,500) Long-Term Portion 46,362 (397) (206) — 45,759 Total at December 31, 2022 44,375 (541) — 491 44,325 Less: Current Portion (6,500) 188 — (491) (6,803) Long-Term Portion 37,875 (353) — — 37,522 In May 2021 , 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”), Longevity Maritime Limited (the “Borrower E”) and Serena Maritime Limited (the “Borrower F”), vessel owning companies of 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, respectively, entered a new term loan facility for up to $ 34,250 (the “CIT Loan Facility”) with First-Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) for the purpose of refinancing the existing indebtedness secured on the ships . The CIT Loan Facility is guaranteed by Globus. The CIT Loan Facility originally bore interest at LIBOR 3.75 5.75 11. Long-Term Debt, net (continued) The CIT Loan Facility originally consisted of six 20 quarterly 1.25 9.25 May 2026 34,250 545 LIBOR 1.25 In August 2022 52.25 for the purpose of financing vessel Orion Globe and for general corporate and working capital purposes 18 259 As noted above, following the agreement reached in August 2022 the benchmark rate of the CIT Loan Facility was amended from LIBOR to Term SOFR and the applicable margin was decreased from 3.75% to 3.35 5.25 SOFR 163 , which is included under Gain/(Loss) on derivative financial instruments, net in the income statement component of the consolidated statement of comprehensive income for the year ended December 31, 2022. In August 2023, the Company entered into a second deed of accession, amendment and restatement of the CIT Loan Facility with First-Citizens Bank, whereby the CIT Loan Facility was further amended and restated and two additional borrowers, Argo Maritime Limited and Talisman Maritime Limited, acceded to the CIT Loan Facility. The CIT Loan Facility was further increased to $ 77.25 for the purpose of financing vessels Diamond Globe and Power Globe and for general corporate and working capital purposes SOFR 0.1 2.70 4.70 417 25 On May 10, 2023 the Company prepaid the total remaining amount of $ 3,674 of the loan of Longevity Maritime Limited (the owning company of the vessel Sun Globe) in order to be able to conclude the sale and delivery of the vessel to the new owners which took place on June 5, 2023 (see Note 5). On August 29, 2023 the Company prepaid the total remaining amount of $ 3,276 of the loan of Domina Maritime Ltd (the owning company of the vessel Sky Globe) in order to be able to conclude the sale and delivery of the vessel to the new owners which took place on September 7, 2023 (see Note 5). On September 7, 2023 the Company prepaid the total remaining amount of $ 3,555 of the loan of Dulac Maritime S.A. (the owning company of the vessel Star Globe) in order to be able to conclude the sale and delivery of the vessel to the new owners which took place on September 13, 2023 (see Note 5). Following the conclusion of the second amendment and restatement of the CIT Loan Facility and the sales of the vessels Sun Globe, Sky Globe and Star Globe, described above, the vessels securing the CIT Loan Facility are the Diamond Globe, Power Globe, Orion Globe, River Globe, Moon Globe, and Galaxy Globe. The remaining borrowers under the CIT Loan Facility are Devocean Maritime Ltd., Artful Shipholding S.A., Serena Maritime Limited, Salaminia Maritime Limited, Argo Maritime Limited and Talisman Maritime Limited and the CIT Loan Facility remains guaranteed by Globus Maritime Limited. The CIT Loan Facility currently bears interest at Term SOFR together with an adjustment of 0.1% per annum plus a margin of 2.70% (or 4.70% default interest) per annum. It consists of six tranches, which shall be repaid in consecutive quarterly installments with the final installment due on the first four tranches in May 2026 August 2027 The CIT Loan Facility may be prepaid prior to maturity. If the prepayment of the tranche financing Orion Globe occurs on or before August 10, 2024, the prepayment fee is 1 2 1 11. Long-Term Debt, net (continued) The CIT Loan Facility is secured by: • First preferred mortgage over m/v River Globe, m/v Moon Globe, m/v Galaxy Globe, m/v Orion Globe, m/v Power Globe and m/v Diamond Globe. • pledges over the shares of each borrower; and • pledges of bank accounts, a pledge of each borrower’s rights under any swap 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. The Company is not permitted, without the written consent of First-Citizens Bank, 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 borrowers and/or Globus to, among other things, ensure that: • the borrowers maintain a minimum cash reserve at all times of not less than $500 for each mortgaged ship;    • a minimum loan (including any exposure under a related swap agreement) to value ratio of 70% is maintained until    May 2024, and  thereafter 65%; • each borrower maintains in its earnings account minimum liquidity of $150 in respect of each ship then subject to a mortgage; • Globus maintains 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 Facility; • Globus maintains a maximum leverage ratio of 0.75:1.00; and • if Globus pays a dividend, subject to certain exceptions, then the debt service coverage ratio (i.e., aggregate EBITDA of Globus for any period to the debt service for such period) after such dividend and for the remaining tenure 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 $1,200 is set aside by each borrower for its ship’s special survey, except for Serena Maritime Limited and Salaminia Maritime Limited, each of which are required to set aside quarterly payments that aggregate to $900,Argo Maritime Limited, which is required to set aside quarterly payments that aggregate to $675, and Talisman Limited, which is required to set aside quarterly payments that aggregate to $315. Globus is prohibited from making dividends (other than up to $1,000 annually on or in respect of its preferred shares) in cash or redeem or repurchase its common shares unless there is no event of default under the CIT Loan Facility, the net loan (including any exposure under a related hedging agreement) to value ratio is less than 60% before the making of the dividend and Globus is in compliance with the debt service coverage ratio, and Globus 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 with which the directors are obliged to comply, other than those persons disclosed to First-Citizens Bank on or around the date of the CIT Loan Facility and their affiliates and immediate family members. 11. Long-Term Debt, net (continued) The Company was in compliance with the covenants of the CIT Loan Facility as at December 31, 2023 and 2022. The contractual annual loan principal payments to be made subsequent to December 31, 2023, were as follows: Long-Term Debt, net - Annual loan principal payments December 31, First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) 2024 6,258 2025 6,258 2026 21,604 2027 18,500 Total 52,620 The contractual annual loan principal payments to be made subsequent to December 31, 2022, were as follows: December 31, First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) 2023 6,500 2024 6,500 2025 6,500 2026 24,875 Total 44,375 The weighted average interest rate for the years ended December 31, 2023 and 2022, was 8.19 % and 5.58 %, respectively.

Voyage Expenses and Vessel Oper

Voyage Expenses and Vessel Operating Expenses	12 Months Ended
	Dec. 31, 2023
Expenses by nature [abstract]
Voyage Expenses and Vessel Operating Expenses	12. Voyage Expenses and Vessel Operating Expenses Voyage expenses and vessel operating expenses in the consolidated statements of comprehensive income consisted of the following: Voyage Expenses and Vessel Operating Expenses - Voyage expenses Voyage expenses consisted of: For the year ended December 31, 2023 2022 2021 Commissions 397 924 626 Bunkers expenses 3,083 3,876 — Other voyage expenses 456 573 502 Total 3,936 5,373 1,128 Vessel operating expenses consisted of: Voyage Expenses and Vessel Operating Expenses - Vessel operating expenses For the year ended December 31, 2023 2022 2021 Crew wages and related costs 8,259 8,952 7,570 Insurance 1,176 1,349 1,067 Spares, repairs and maintenance 2,981 3,935 2,414 Lubricants 912 924 555 Stores 2,325 2,340 1,712 Other 437 512 490 Total 16,090 18,012 13,808

Administrative Expenses

Administrative Expenses	12 Months Ended
	Dec. 31, 2023
Selling, general and administrative expense [abstract]
Administrative Expenses	13. Administrative Expenses The amount shown in the consolidated statements of comprehensive income is analyzed as follows: Administrative Expenses For the year ended December 31, 2023 2022 2021 Personnel expenses 1,971 1,454 1,455 Audit fees 227 204 215 Consulting fees 275 271 329 Communication 21 16 16 Stationery 3 3 6 Greek tax authorities (note 17) 236 292 185 Other 808 636 404 Total 3,541 2,876 2,610

Interest Expense and Finance Co

Interest Expense and Finance Costs	12 Months Ended
	Dec. 31, 2023
Interest costs [abstract]
Interest Expense and Finance Costs	14. Interest Expense and Finance Costs The amounts in the consolidated statements of comprehensive income are analyzed as follows: Interest Expense and Finance Costs For the year ended December 31, 2023 2022 2021 Interest payable on long-term borrowings 3,847 2,047 1,958 Bank charges 67 60 59 Amortization of debt discount 323 165 547 Operating lease liability interest 28 54 52 Other finance expenses 30 34 646 Gain from termination of lease liability — (40) — Amortization of gain of Loan modification 59 — — Total 4,354 2,320 3,262 Other finance expenses for 2021 include approximately $ 0.6 million (absolute amount) that were the loan prepayment fee and expenses relating to the prepayment of EnTrust loan facility. Interest on long-term debt is normally settled quarterly throughout the year.

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2023
Disclosure of contingent liabilities [abstract]
Contingencies	15. 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, 2023
Commitments
Commitments	16. Commitments Voyage revenue The Company enters into time charter arrangements on its vessels. As at December 31, 2023, the non-cancellable arrangements had remaining terms between nil days to eight months, assuming redelivery at the earliest possible date. As at December 31, 2022, the non-cancellable arrangements had remaining terms between nil 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, 2023 and 2022, 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 2023 2022 Within one year 8,060 6,675 Total 8,060 6,675 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. 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 in 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 16. Commitments (continued) vessel. The Company believes that the standalone transaction price attributable to the technical management service component, including crewing services, is more readily determinable than the price of the lease component and, accordingly, the price of the service component is estimated using data provided by its technical department, which consist of the crew expenses, maintenance and consumable costs and was approximately $ 16,473 and $ 18,451 for year ended December 31, 2023 and 2022, respectively. The lease component that is disclosed then is calculated as the difference between total revenue and the non-lease component revenue and was $ 14,367 and $ 42,939 for the year ended December 31, 2023 and 2022, respectively. Office lease contract As further discussed in Note 4 the Company has recognized a right of use asset and a corresponding liability with respect to the rental agreement of office space for its operations within a building leased by FG Europe (an affiliate of Globus’s chairman). The depreciation charge for right-of-use assets for the years ended December 31, 2023, 2022 and 2021, was $ 311 , $ 327 and $ 206 , respectively, and recognized under depreciation in the income statement component of the consolidated statements of comprehensive income. The interest expense on lease liability for the years ended December 31, 2023, 2022 and 2021, was $ 28 , $ 54 and $ 52 , respectively, and recognized under interest expense and finance costs in the income statement component of the consolidated statements of comprehensive income. At December 31, 2023 and 2022, the current lease liability amounted to $ 188 and $ 321 , respectively. The non-current lease liability amounted to nil and $ 188 , respectively. As at December 31, 2023, and 2022, the net carrying amount of the right of use asset was $ 182 , and $ 493 , respectively. These are included in the accompanying consolidated statements of financial position. The total cash outflows for leases for the years ended December 31, 2023, 2022 and 2021, were approximately $ 349 , $ 341 and $ 314 , respectively, and were recognized in the consolidated statement of cash flows under the Payment of lease liability – principal and Interest Paid. 0 Commitments under shipbuilding contracts On April 29, 2022, the Company entered into a contract, through its subsidiary, Calypso Shipholding S.A., for the construction and purchase of one fuel efficient bulk carrier of about 64,000 dwt vessel. The vessel will be built at Nihon Shipyard Co. in Japan. The total consideration for the construction of the vessel is approximately $ 37.5 million (absolute amount), which the Company intends to finance with a combination of debt and equity. In May 2022 the Company paid the first instalment of $ 7.4 million (absolute amount), in March 2023 paid the second instalment of $ 3.8 million (absolute amount), in September 2023 paid the third instalment of $ 3.7 million (absolute amount) and in November 2023 paid the 4th instalment of $ 3.7 million (absolute amount), which are included under Advances for vessel purchase in the consolidated statement of financial position. On January 25, 2024, the Company paid the remaining $ 18.5 million (absolute amount) and took delivery of m/v GLBS Hero (see Note 20). On May 13, 2022, the Company has signed two contracts, through its subsidiaries, Daxos Maritime Limited and Paralus Shipholding S.A., for the construction and purchase of two fuel efficient bulk carrier of about 64,000 dwt each. The sister vessels will be built at Nantong COSCO KHI Ship Engineering Co. in China with the first one scheduled to be delivered during the third quarter of 2024 and the second one scheduled during the fourth quarter of 2024 . The total consideration for the construction of both vessels is approximately $ 70.3 million (absolute amount), which the Company intends to finance with a combination of debt and equity. In May 2022 the Company paid the first instalment of $ 13.8 million (absolute amount) and in November 2022 paid the second instalment of $ 6.9 million (absolute amount) for both vessels under construction. Both instalments are included under Advances for vessel purchase in the consolidated statement of financial position. On August 18, 2023, the Company signed two contracts for the construction and purchase of two fuel efficient bulk carrier of about 64,000 dwt each. The two vessels will be built at a reputable shipyard in Japan and are scheduled to be delivered during the second half of 2026 . The total consideration for the construction of both vessels is approximately $ 75.5 million (absolute amount), which the Company intends to finance with a combination of debt and equity. In August 2023 the Company paid the first instalment of $ 7.5 million (absolute amount) for both vessels under construction. The contractual annual payments per subsidiary to be made subsequent to December 31, 2023, were as follows: Commitments - Future minimum contractual obligations Calypso Shipholding S.A. Daxos Maritime Limited Paralus Shipholding S.A. Olympia Shipholding S.A. Thalia Shipholding S.A. Total 2024 24,785 24,785 3,760 3,760 2025 — — — 3,760 3,760 7,520 2026 — — — 26,530 26,530 53,060 Total 18,500 24,785 24,785 34,050 34,050 136,170

Income Tax

Income Tax	12 Months Ended
	Dec. 31, 2023
Major components of tax expense (income) [abstract]
Income Tax	17. 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 income. 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, 2023, 2022 and 2021, the tax expense under the law amounted to $ 236 , $ 292 and $ 185 , respectively and is included in administrative expenses in the consolidated statements of comprehensive income. 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, its 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 2023. 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 17. Income Tax (continued) (d) the performance of services directly related to those uses. The Regs provide that a foreign corporation will qualify for the benefits of § 883 if, in relevant part, the foreign country in which the foreign corporation is organized grants an equivalent exemption to corporations organized in the U.S. and the foreign corporation meets either the qualified shareholder test or the publicly traded test described below. Qualified Shareholder Test A foreign corporation having more than 50 percent of the value of its outstanding shares owned, directly or indirectly by application of specific attribution rules, for at least half of the number of days in the foreign corporation's taxable year by one or more qualified shareholders will meet the qualified shareholder test. In part, an individual who is a shareholder will be considered a qualified shareholder if he or she is a resident of a qualified foreign country (which means for this purpose that he or she is fully liable to tax in such country, and maintains a tax home in such country for 183 days or more in the taxable year, or certain other rules apply) and does not own his or her interest in the foreign corporation through bearer shares (except for bearer shares held in a dematerialized or immobilized book entry system), either directly or indirectly by application of the attribution rules. In addition, in order to meet the qualified shareholder test, a foreign corporation will need to obtain certifications from its qualified shareholders (including from intermediary entities) substantiating their stock ownership. Publicly Traded Test The Publicly Traded Test requires that one or more classes of equity representing more than 50% of the voting power and value in a non-United States corporation be “primarily and regularly traded” on an established securities market either in the United States or in a foreign country that grants an equivalent exemption. Among others, § 883 provides, in relevant part, that the shares of a non-United States corporation will be considered to be “primarily traded” on an established securities market in a country if the number of shares of each class of shares that are traded during any taxable year on all established securities markets in that country exceeds the number of shares in each such class that are traded during that year on established securities markets in any other single country. Notwithstanding the foregoing, § 883 provides, in relevant part, that a class of shares will not be considered to be “regularly traded” on an established securities market for any taxable year in which 50% or more of the vote and value of the outstanding shares of such class are owned, actually or constructively under specified share attribution rules, on more than half the days during the taxable year by persons who each own 5% or more of the vote and value of such class of outstanding shares which is referred as the 5 Percent Override Rule. In the event that the 5 Percent Override Rule is triggered, § 883 provides that such rule will not apply if the Company can establish that within the group of 5% shareholders, there are sufficient qualified shareholders within the meaning of § 883 to preclude non-qualified shareholders in such group from owning 50% or more of the total value of the Company’s common shares for more than half the number of days during the taxable year. For the years ended December 31, 2023, 2022 and 2021, 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, 2023, 2022 and 2021. 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, 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, 2023
Disclosure of detailed information about financial instruments [abstract]
Financial risk management objectives and policies	18. Financial risk management objectives and policies The Company’s financial liabilities are long-term borrowings, trade and other payables and the financial derivative instruments. 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 instruments 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, 2023 and 2022, 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 on the Company’s income. Financial risk management objectives and policies - Interest rate risk Increase/(Decrease) in basis points Effect on income / (loss) 2023 $ Term SOFR +15 (70) -20 94 2022 $ Libor/Term SOFR +15 (55) -20 73 2021 $ Libor +15 (52) -20 69 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 income 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, 2023, 2022 and 2021, was not material. Financial risk management objectives and policies - Foreign currency risk Change in rate Effect on income 2023 +10% (533) -10% 533 2022 +10% (573) -10% 573 2021 +10% (478) -10% 478 Credit risk The Company operates only with recognized, 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 recognized financial institutions. The Company performs annual evaluations of the relative credit standing of these counter parties. The exposure of these financial instruments is equal to their carrying amount as indicated in the consolidated statement of financial position. Concentration of credit risk table: The following table provides information with respect to charterers who individually, accounted for approximately more than 10% of the Company’s revenue for the years ended December 31, 2022, 2021 and 2020: Financial risk management objectives and policies - Concentration of credit risk table 2023 % 2022 % 2021 % A 6,430 21% 6,606 11% — — B 4,830 16% — — 4,571 11% C — — — — 7,726 18% D — — 6,548 11% — — Other 19,580 63% 48,236 78% 30,914 71% Total 30,840 100% 61,390 100% 43,211 100% 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 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 authorization limits operating up to board level and cash payback periods applied as part of the investment appraisal process. In this way, the Company monitors its 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 summarizes the maturity profile of the Company’s financial liabilities (including interest) at December 31, 2023 and 2022 based on contractual undiscounted cash flows. Financial risk management objectives and policies - Liquidity risk Year ended December 31, 2023 Less than 3 months 3 to 12 months 1 to 5 years More than 5 years Total Long-term debt 2,663 7,781 53,583 — 64,027 Lease liabilities 81 107 — — 188 Accrued liabilities and other payables 1,763 — — — 1,763 Trade accounts payables 362 — — — 362 Total 4,869 7,888 53,583 — 66,340 Year ended December 31, 2022 Less than 3 months 3 to 12 months 1 to 5 years More than 5 years Total Long-term debt 2,495 7,266 43,816 — 53,577 Lease liabilities 80 241 188 — 509 Accrued liabilities and other payables 5,814 — — — 5,814 Trade accounts payables 3,548 — — — 3,548 Total 11,937 7,507 44,004 — 63,448 18. Financial risk management objectives and policies (continued) 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 maximize 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, 2023 and 2022.

Fair values

Fair values	12 Months Ended
	Dec. 31, 2023
Disclosure of fair value measurement of assets [abstract]
Fair values	19. 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 2.22). 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 Level 1 Level 2 Level 3 Total December 31, 2023 Financial assets Financial assets measured at fair value Non-current portion of fair value of derivative financial instruments 495 — 495 — 495 Current portion of fair value of derivative financial instruments 808 — 808 — 808 1,303 Financial liabilities Financial liabilities not measured at fair value Long-term borrowings 52,620 — 54,107 — 54,107 52,620 Carrying amount Fair value Level 1 Level 2 Level 3 Total December 31, 2022 Financial assets Financial assets measured at fair value Non-current portion of fair value of derivative financial instruments 1,315 — 1,315 — 1,315 Current portion of fair value of derivative financial instruments 1,092 — 1,092 — 1,092 2,407 Financial liabilities Financial liabilities not measured at fair value Long-term borrowings 44,375 — 45,549 — 45,549 44,375 19. Fair values (continued) 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 2022 and 2023.

Events after the reporting date

Events after the reporting date	12 Months Ended
	Dec. 31, 2023
Disclosure of non-adjusting events after reporting period [abstract]
Events after the reporting date	20. Events after the reporting date On January 22, 2024, the Company paid the remaining $ 18.5 million (absolute amount) at Nihon Shipyard Co. in Japan and on January 25, 2024 64,000 DWT, of which the Company had previously announced on May 10, 2022 and was named “m/v GLBS Hero”. On February 23, 2024, Globus, through its subsidiary Daxos Maritime Limited, entered into a $ 28 64,000 during the third quarter of 2024 On March 13, 2024, the Company awarded a consultant affiliated with our chief executive officer a one-time bonus of $ 3 On March 13, 2024, the Board of Directors adopted the Globus Maritime Limited 2024 Equity Incentive Plan, or the Plan. The purpose of the Plan is to provide Company’s officers, key employees, directors, consultants and service provider, whose initiative and efforts are deemed to be important to the successful conduct of Company’s business, with incentives to (a) enter into and remain in the service of the Company or affiliates, (b) acquire a proprietary interest in the success of the Company, (c) maximize their performance and (d) enhance the long-term performance of the Company. The number of common shares reserved for issuance under the Plan is 2,000,000

Basis of Preparation and Acco_2

Basis of Preparation and Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Basis of Preparation:	2.1         Basis of Preparation: The consolidated financial statements have been prepared on a historical cost basis, except for derivative financial instruments which are measured at fair value. The consolidated financial statements are presented in U.S. dollars and all values are rounded to the nearest thousand ($ 000s) except when otherwise indicated. Going concern basis of accounting: 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. As at December 31, 2023, the Company reported a total comprehensive income for the year of $ 5,272 , Cash and cash equivalents of $ 74,202 , a working capital surplus of $ 69,795 and was in compliance with its debt covenants. 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. Conflicts 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. Furthermore, the intensity and duration of the recently declared war between Israel and Hamas is difficult to predict and its impact on the world economy and drybulk industry is uncertain. While much uncertainty remains regarding the global impact of the war between Israel and Hamas, it is possible that such tensions could result in the eruption of further hostilities in other regions, including the Red Sea, and could adversely affect the Company’s business, financial conditions, operating results, and cash flows. 2.       Basis of Preparation and Accounting Policies (continued) Statement of Compliance: International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). 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, 2023: • 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. The Company revisited and updated its accounting policies to apply the requirements of the amendments to IAS 1. The amendments had no material impact on the financial statements of the Company. · IFRS 17 insurance contracts, · IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates (Amendments), · IAS 12 Income taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments), · IAS 12 Income taxes: International Tax Reform - Pillar Two Model Rules (Amendments) These newly adopted IFRS and amendments to IFRS did not have a material impact on the Company’s accounting policies. Standards issued but not yet effective and not early adopted: • IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current (Amendments) The amendments are effective for annual reporting periods beginning on or after January 1, 2024, with earlier application permitted. Management is in process of assessing the effect of these amendments on the Company’s financial statements and disclosures. • IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments Disclosure - Supplier Finance Arrangements (Amendments). The amendments are effective for annual reporting periods beginning on or after January 1, 2024, with earlier application permitted. Management is in process of assessing the effect of these amendments on the Company’s financial statements and disclosures. · IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability (Amendments). The amendments are effective for annual reporting periods beginning on or after January 1, 2025, with earlier application permitted. Management is in process of assessing the effect of these amendments on the Company’s financial statements and disclosures. · 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. 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. · IFRS 16 Leases: Lease Liability in a Sale and Leaseback (amendments). The amendments are effective for annual reporting periods beginning on or after January 1, 2024, with earlier application permitted. Management is in process of assessing the effect of these amendments on the Company’s financial statements and disclosures. The Company plans to adopt these standards on their respective effective dates. 2.        Basis of Preparation and Accounting Policies (continued)
Accounting policies, judgments, estimates and assumptions:	2.3 Accounting policies, judgments, estimates and assumptions: The preparation of consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the amounts of revenues and expenses recognized during the reporting period. However, uncertainty about these assumptions and estimates could result in outcomes that could require a material adjustment to the carrying amount of the asset or liability affected in the future. Judgments: Impairment and Reversal of previously recognized impairment: The Company considers the following indicators of impairment/reversal of impairment: Ø Observable significant decrease / increase in vessel’s market value; Ø Significant adverse / favorable changes in the technological, economic or legal environment incurred or are expected to be incurred and negatively / positively affect vessel’s value or decrease / increase its revenue generating ability; and Ø Market interest rates of return on investments have increased / decreased during the period, which will result in increase /decrease of the discount rate. To evaluate the presence of impairment/reversal of impairment indicators the Company assessed current market conditions as derived from historical information including analysis over vessel market charter rates and market prices, recent vessels sales and purchase activity, independent brokers valuations reports and also assesses forward looking industry information regarding vessels market values as well as various qualitative factors. Based on such assessment performed as of December 31, 2023 and 2022, the Company concluded that no indicators for impairment were present as of December 31, 2023 and 2022 and no impairment was recorded for the years ended December 31, 2023 and 2022. Following the agreement to sell Sun Globe and given the significant increase in the vessel’s market value, the Company assessed that there were indications that impairment losses recognized in the previous periods with respect to this vessel have decreased. Therefore, the carrying amount of the vessel was increased to its recoverable amount, determined based on selling price less cost to sell, and the Company recorded reversal of impairment amounting $ 4,400 No          2.       Basis of Preparation and Significant Accounting Policies (continued) Estimates and assumptions: Ø   Carrying amount of vessels, net Ø Impairment of Vessels and Reversal of previously recognized impairment losses
Accounting for revenue and related expenses:	2.4 Accounting for revenue and related expenses: The Company generates its revenues from charterers for the charter hire of its vessels. Vessels are chartered using time charters, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily charter hire rate. If a time charter agreement exists and collection of the related revenue is reasonably assured, revenue is recognized on a straight-line basis over the period of the time charter. Such Voyage Revenues are treated in accordance with IFRS 16 as lease income, while the portion of time charter revenues related to technical management services are recognized in accordance with IFRS 15. Associated broker commissions are recognized on a pro-rata basis over the duration of the period of the time charter. Deferred revenue relates to cash received prior to the financial position date and is related to revenue earned after such date. Interest income Voyage expenses Vessel operating expenses
Foreign currency translation:	2.5 Foreign currency translation: The functional currency of Globus and its subsidiaries is the U.S. dollar, which is also the presentation currency of the Company, since the Company’s vessels operate in international shipping markets, whereby the U.S. dollar is the currency used for transactions. Transactions involving other currencies during the period are converted into U.S. dollars using the exchange rates in effect at the time of the transactions. At the financial position dates, monetary assets and liabilities, which are denominated in currencies other than the U.S. dollar, are translated into the functional currency using the period-end exchange rate. Gains or losses resulting from foreign currency transactions are included in foreign exchange gains/(losses), net in the consolidated statement of comprehensive income.
Cash and cash equivalents:	2.6 Cash and cash equivalents: The Company considers highly liquid investments such as time deposits and certificates of deposit with original maturity of three months or less to be cash and cash equivalents.
Trade accounts receivable, net:	2.7 Trade accounts receivable, net: The amount shown as trade accounts receivable at each financial position date includes estimated recoveries from charterers for hire, net of an allowance for doubtful accounts. Trade accounts receivable without a significant financing component are initially measured at their transaction price and subsequently measured at amortized cost less impairment losses, which are recognized in the consolidated statement of comprehensive income. At each financial position date, all potentially uncollectible accounts are assessed individually for the purpose of determining the appropriate provision for expected credit losses. The provision for expected credit losses at December 31, 2023 and 2022 was nil. 0
Inventories:	2.8          Inventories: Inventories consist of lubricants, bunkers and gas cylinders and are stated at the lower of cost and net realizable value. The cost is determined by the first-in, first-out method. 2.       Basis of Preparation and Significant Accounting Policies (continued)
Vessels, net:	2.9 Vessels, net: Vessels are stated at cost, less accumulated depreciation (including depreciation of dry-docking cost) and accumulated impairment losses. Vessel cost consists of the contract price for the vessel and any material expenses incurred upon acquisition (initial repairs, improvements and delivery expenses, interest, commissions paid and on-site supervision costs incurred during the construction periods). Subsequent expenditures for conversions and major improvements are also capitalized when the recognition criteria are met. Otherwise, these amounts are charged to expenses as incurred.
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 years. The costs associated with the dry-dockings are capitalized and depreciated on a straight-line basis over the period between dry-dockings, to a maximum of 2.5 years. At the date of acquisition of a vessel, management estimates the component of the cost that corresponds to the economic benefit to be derived until the first scheduled dry-docking of the vessel under the ownership of the Company and this component is depreciated on a straight-line basis over the remaining period through the estimated dry-docking date.
Depreciation:	2.11 Depreciation: The cost of each of the Company’s vessels is depreciated on a straight-line basis over each vessel’s remaining useful economic life, after considering the estimated residual value of each vessel, beginning when the vessel is ready for its intended use. Management estimates that the useful life of new vessels is 25 years , which is consistent with industry practice. The residual value of a vessel is the product of its lightweight tonnage and estimated scrap value per lightweight ton. The residual values and useful lives are reviewed at each reporting date and adjusted prospectively. During the fourth quarter of 2021, the Company adjusted the scrap rate from $300/ton (absolute amount) to $ 380 /ton (absolute amount) due to the increased scrap rates worldwide. This resulted to a decrease of $ 145 to the depreciation charge included in the consolidated statement of comprehensive income for 2021. During the fourth quarter of 2022, the Company adjusted the scrap rate from $380/ton (absolute amount) to $ 440 /ton (absolute amount) due to the increased scrap rates worldwide. This resulted to a lower amount of $ 118 to the depreciation charge included in the consolidated statement of comprehensive income for 2022. During the fourth quarter of 2023, the Company adjusted the scrap rate from $440/ton to $ 480 62
Impairment of Long-Lived Assets and Reversal of previously recognized impairment losses:	2.12 Impairment of Long-Lived Assets and Reversal of previously recognized impairment losses: The Company assesses at each reporting date whether there is an indication that a vessel may be impaired. The Company has considered various indicators, including but not limited to the current level of market hire rates, the market price of its vessels, the economic outlook, technological, regulatory and environmental developments. The vessel’s recoverable amount is estimated when events or changes in circumstances indicate the carrying value may not be recoverable. If such indication exists and where the carrying value exceeds the estimated recoverable amounts, the vessel is written down to its recoverable amount. The recoverable amount is the greater of fair value less costs to sell and value-in-use. In assessing value-in-use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the vessel. Impairment losses are recognized in the consolidated statement of comprehensive income. The Company assesses also at each reporting date whether there is any indication that an impairment loss recognized in prior periods for a vessel may no longer exist or may have decreased. A previously recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. If that is the case, the carrying amount of the asset is increased to its recoverable amount. That increased amount cannot exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Such a reversal is recognized in the consolidated statement of comprehensive income. After such a reversal, the depreciation charge is adjusted in future periods to allocate the asset’s revised carrying amount, less any residual value, on a systematic basis over its remaining useful life (refer to note 5).
Long-term debt:	2.13 Long-term debt: Long-term debt is initially recognized at the fair value of the consideration received net of financing costs directly attributable to the borrowing. After initial recognition, long-term debt is subsequently measured at amortized cost using the effective interest rate method. Amortized cost is calculated by taking into account any financing costs and any discount or premium on settlement. Gains and losses are recognized in the income statement component of the consolidated statement of comprehensive income when the liabilities are derecognized or impaired, as well as through the amortization process. Accrued interest at the end of the reporting period is added at the current portion of long-term debt.
Financing costs:	2.14 Financing costs: Fees incurred for obtaining new loans or refinancing existing loans are deferred and amortized over the life of the related debt, using the effective interest rate method. Any unamortized balance of costs relating to loans repaid or refinanced is expensed in the period the repayment or refinancing is made. For the year ended December 31, 2023, the Company deferred financing costs of $ 406 , which relate to the costs incurred for the top up loan amount of $ 25,000 with First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) (“First-Citizens Bank”) (This loan facility is referred to as the “CIT Loan Facility”, see Note 11 for more details). For the year ended December 31, 2022, the Company deferred financing costs of $ 259 , which relate to the costs incurred for the top up loan amount of $ 18,000 under the CIT Loan Facility (see Note 11 for more details). For the year ended December 31, 2021, the Company deferred financing costs of $ 545 , which relate to the costs incurred for CIT Loan Facility (see Note 11 for more details). 2.       Basis of Preparation and Accounting Policies (continued)
Borrowing costs:	2.15        Borrowing costs: Borrowing costs consist of interest and other costs that the Company incurs in connection with the borrowing of funds. Borrowing costs are expensed to the income statement component of the consolidated statement of comprehensive income as incurred under “interest expense and finance costs” except borrowing costs that relate to a qualifying asset. A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use. Borrowing costs that relate to qualifying assets are capitalized.
Operating segment:	2.16       Operating segment: The Company reports financial information and evaluates its operations by charter revenues and not by other factors such as length of ship employment for its customers i.e., spot or time charters or type of vessel. The Company does not use discrete financial information to evaluate the operating results for each such type of charter. Although revenue can be identified for these types of charters, management cannot and does not identify expenses, profitability or other financial information for these charters. As a result, management, including the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet and thus the Company has determined that it operates as one operating segment. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographical information is impracticable.
Provisions and contingencies:	2.17 Provisions and contingencies: Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and, a reliable estimate of the amount of the obligation can be made. Provisions are reviewed at each financial position date and adjusted to reflect the present value of the expenditure expected to be required to settle the obligation. Contingent liabilities are not recognized in the consolidated financial statements but are disclosed unless the possibility of an outflow of resources embodying economic benefits is remote, in which case there is no disclosure. Contingent assets are not recognized in the consolidated financial statements but are disclosed when an inflow of economic benefits is probable.
Offsetting of financial assets and liabilities:	2.18         Offsetting of financial assets and liabilities: Financial assets and liabilities are offset and the net amount is presented in the consolidated financial position only when the Company has a legally enforceable right to set off the recognized amounts and intend either to settle such asset and liability on a net basis or to realize the asset and settle the liability simultaneously.
Financial assets and liabilities:	2.19       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. 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 The financial assets at amortized cost consist of trade accounts receivable and cash and cash equivalents. 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 realizing 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 derecognized 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. 2. Basis of Preparation and Significant Accounting Policies (continued) 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 recognized to the extent of the Company’s continuing involvement in the asset. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Company could be required to repay. iv. Derecognition of Financial liabilities: A financial liability is derecognized 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 recognized in profit or loss.
Leases:	2.20       Leases: Leases – where the Company is the lessee: At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. 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 or a change in the lease payments. 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 as 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 $ 16,473 14,367 2. Basis of Preparation and Significant Accounting Policies (continued)
Share capital and Warrants:	2.21       Share capital and Warrants: Common shares and preferred shares are classified as equity. Incremental costs directly attributable to the issue of new shares are recognized 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.
Fair value measurement:	2.22      Fair value measurement: The Company measures financial instruments, such as derivatives at fair value at each reporting date. In addition, fair values of financial instruments measured at amortized 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, maximizing the use of relevant observable inputs and minimizing 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 recognized at fair value 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.
Current versus non-current classification:	2.23       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 realized or intended to be sold or consumed in a normal operating cycle; • held primarily for the purpose of trading; • expected to be realized within twelve months after the reporting period; or • cash or cash equivalent All other assets are classified as non-current. A liability is current when: • 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. 2. Basis of Preparation and Significant Accounting Policies (continued)
Restricted Cash:	2.24 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:	2.25 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 19). 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 on derivative financial instruments” in the consolidated statement of comprehensive income. Realized gains or losses resulting from interest rate swaps are recognized in profit or loss under “Gain on derivative financial instruments” in the consolidated statement of comprehensive income.
Management & consulting fee income:	2.26 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 under management & consulting fee income.

Basis of presentation and gen_2

Basis of presentation and general information (Tables)	12 Months Ended
	Dec. 31, 2023
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 Artful Shipholding S.A. Marshall Islands June 22, 2011 m/v Moon 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 Salaminia Maritime Limited Marshall Islands November 29, 2021 m/v Orion Globe Calypso Shipholding S.A. Marshall Islands — Hull No: S-1885* Daxos Maritime Limited Marshall Islands — Hull No: NE-442* Olympia Shipholding S.A. Marshall Islands — Hull No: S-K192* Paralus Shipholding S.A. Marshall Islands — Hull No: NE-443* Thalia Shipholding S.A. Marshall Islands — Hull No: S-3012* Longevity Maritime Limited Malta September 15, 2011 ** Domina Maritime Ltd. Marshall Islands May 19, 2010 *** Dulac Maritime S.A. Marshall Islands May 25, 2010 ****      * New building vessels    ** m/v Sun Globe was sold and delivered to her new owners on June 5, 2023 (Note 5)    *** m/v Sky Globe was sold and delivered to her new owners on September 7, 2023 (Note 5)    **** m/v Star Globe was sold and delivered to her new owners on September 13, 2023 (Note 5)

Cash and cash equivalents and_2

Cash and cash equivalents and Restricted cash (Tables)	12 Months Ended
	Dec. 31, 2023
Cash and cash equivalents [abstract]
Cash and cash equivalents and Restricted cash	Cash and cash equivalents and Restricted cash December 31, 2023 2022 Cash on hand 11 36 Cash at banks 74,191 52,797 Total 74,202 52,833

Transactions with Related Par_2

Transactions with Related Parties (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 2022 2021 Directors’ remuneration 240 240 145 Share-based payments — — 40 Total 240 240 185
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, 2023 2022 2021 Short-term employee benefits 432 1,172 1,216 Total 432 1,172 1,216

Vessels, net (Tables)

Vessels, net (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2021 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 Additions/ Dry Docking Component 1,178 — 7,438 — 8,616 Depreciation expense — (5,233) — (4,646) (9,879) Balance at December 31, 2022 234,916 (113,009) 23,365 (15,811) 129,461 Additions/ Dry Docking Component 161 — 6,324 — 6,485 Reversal of Impairment 4,400 — — — 4,400 Depreciation expense — (4,372) — (4,185) (8,557) Sale of vessel (58,219) 31,149 (13,444) 9,282 (31,232) Balance at December 31, 2023 181,258 (86,232) 16,245 (10,714) 100,557
Vessels, net - Consolidated Statement of Comprehensive Income/ (loss)	Vessels, net - Consolidated Statement of Comprehensive Income/ (loss) For the year ended December 31, 2023 2022 2021 Vessels’ depreciation 4,372 5,233 3,665 Depreciation on office furniture and equipment 42 40 39 Depreciation of right of use asset (Note 16) 311 327 206 Total 4,725 5,600 3,910

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2023
Classes of current inventories [abstract]
Inventories	Inventories December 31, 2023 2022 Lubricants 533 1,062 Gas cylinders 59 133 Bunkers 664 1,833 Total 1,256 3,028

Accrued liabilities and other_2

Accrued liabilities and other payables (Tables)	12 Months Ended
	Dec. 31, 2023
Miscellaneous current liabilities [abstract]
Accrued liabilities and other payables	Accrued liabilities and other payables December 31, 2023 2022 Accrued audit fees 122 77 Other accruals 1,393 5,552 Insurance deductibles 131 104 Other payables 117 81 Total 1,763 5,814

Share Capital and Share Premi_2

Share Capital and Share Premium (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of classes of share capital [abstract]
Share Capital and Share Premium - Authorized share capital	Share Capital and Share Premium - Authorized share capital December 31, 2023 2022 2021 Authorized 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 authorized 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, 2021 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 Issued during the year — — As at December 31, 2022 20,582,301 82 Issued during the year — — As at December 31, 2023 20,582,301 82

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Earnings/(Loss) per Share	Earnings/(Loss) per Share For the year ended December 31, 2023 2022 2021 Income attributable to common equity holders 5,272 24,280 14,950 Weighted average number of shares – basic and diluted 20,582,301 20,582,301 14,809,536    Earnings per common share – basic and diluted 0.26 1.18 1.01

Long-Term Debt, net (Tables)

Long-Term Debt, net (Tables)	12 Months Ended
	Dec. 31, 2023
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 Modification of Loan Accrued Interest Amortized cost Devocean Maritime LTD., Artful Shipholding S.A., Serena Maritime Limited, Salaminia Maritime Limited, Talisman Maritime Limited and Argo Maritime Limited. 52,620 (624) (358) 621 52,259 Total at December 31, 2023 52,620 (624) (358) 621 52,259 Less: Current Portion (6,258) 227 152 (621) (6,500) Long-Term Portion 46,362 (397) (206) — 45,759 Total at December 31, 2022 44,375 (541) — 491 44,325 Less: Current Portion (6,500) 188 — (491) (6,803) Long-Term Portion 37,875 (353) — — 37,522
Long-Term Debt, net - Annual loan principal payments	Long-Term Debt, net - Annual loan principal payments December 31, First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) 2024 6,258 2025 6,258 2026 21,604 2027 18,500 Total 52,620 The contractual annual loan principal payments to be made subsequent to December 31, 2022, were as follows: December 31, First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) 2023 6,500 2024 6,500 2025 6,500 2026 24,875 Total 44,375

Voyage Expenses and Vessel Op_2

Voyage Expenses and Vessel Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 2022 2021 Commissions 397 924 626 Bunkers expenses 3,083 3,876 — Other voyage expenses 456 573 502 Total 3,936 5,373 1,128
Voyage Expenses and Vessel Operating Expenses - Vessel operating expenses	Vessel operating expenses consisted of: Voyage Expenses and Vessel Operating Expenses - Vessel operating expenses For the year ended December 31, 2023 2022 2021 Crew wages and related costs 8,259 8,952 7,570 Insurance 1,176 1,349 1,067 Spares, repairs and maintenance 2,981 3,935 2,414 Lubricants 912 924 555 Stores 2,325 2,340 1,712 Other 437 512 490 Total 16,090 18,012 13,808

Administrative Expenses (Tables

Administrative Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Selling, general and administrative expense [abstract]
Administrative Expenses	Administrative Expenses For the year ended December 31, 2023 2022 2021 Personnel expenses 1,971 1,454 1,455 Audit fees 227 204 215 Consulting fees 275 271 329 Communication 21 16 16 Stationery 3 3 6 Greek tax authorities (note 17) 236 292 185 Other 808 636 404 Total 3,541 2,876 2,610

Interest Expense and Finance _2

Interest Expense and Finance Costs (Tables)	12 Months Ended
	Dec. 31, 2023
Interest costs [abstract]
Interest Expense and Finance Costs	Interest Expense and Finance Costs For the year ended December 31, 2023 2022 2021 Interest payable on long-term borrowings 3,847 2,047 1,958 Bank charges 67 60 59 Amortization of debt discount 323 165 547 Operating lease liability interest 28 54 52 Other finance expenses 30 34 646 Gain from termination of lease liability — (40) — Amortization of gain of Loan modification 59 — — Total 4,354 2,320 3,262

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments
Commitments - Future minimum lease revenues receivable under non-cancellable operating leases	Commitments - Future minimum lease revenues receivable under non-cancellable operating leases 2023 2022 Within one year 8,060 6,675 Total 8,060 6,675
Commitments - Future minimum contractual obligations	Commitments - Future minimum contractual obligations Calypso Shipholding S.A. Daxos Maritime Limited Paralus Shipholding S.A. Olympia Shipholding S.A. Thalia Shipholding S.A. Total 2024 24,785 24,785 3,760 3,760 2025 — — — 3,760 3,760 7,520 2026 — — — 26,530 26,530 53,060 Total 18,500 24,785 24,785 34,050 34,050 136,170

Financial risk management obj_2

Financial risk management objectives and policies (Tables)	12 Months Ended
	Dec. 31, 2023
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) 2023 $ Term SOFR +15 (70) -20 94 2022 $ Libor/Term SOFR +15 (55) -20 73 2021 $ Libor +15 (52) -20 69
Financial risk management objectives and policies - Foreign currency risk	Financial risk management objectives and policies - Foreign currency risk Change in rate Effect on income 2023 +10% (533) -10% 533 2022 +10% (573) -10% 573 2021 +10% (478) -10% 478
Financial risk management objectives and policies - Concentration of credit risk table	Financial risk management objectives and policies - Concentration of credit risk table 2023 % 2022 % 2021 % A 6,430 21% 6,606 11% — — B 4,830 16% — — 4,571 11% C — — — — 7,726 18% D — — 6,548 11% — — Other 19,580 63% 48,236 78% 30,914 71% Total 30,840 100% 61,390 100% 43,211 100%
Financial risk management objectives and policies - Liquidity risk	Financial risk management objectives and policies - Liquidity risk Year ended December 31, 2023 Less than 3 months 3 to 12 months 1 to 5 years More than 5 years Total Long-term debt 2,663 7,781 53,583 — 64,027 Lease liabilities 81 107 — — 188 Accrued liabilities and other payables 1,763 — — — 1,763 Trade accounts payables 362 — — — 362 Total 4,869 7,888 53,583 — 66,340 Year ended December 31, 2022 Less than 3 months 3 to 12 months 1 to 5 years More than 5 years Total Long-term debt 2,495 7,266 43,816 — 53,577 Lease liabilities 80 241 188 — 509 Accrued liabilities and other payables 5,814 — — — 5,814 Trade accounts payables 3,548 — — — 3,548 Total 11,937 7,507 44,004 — 63,448

Fair values (Tables)

Fair values (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of fair value measurement of assets [abstract]
Fair values measurement	Fair values measurement Carrying amount Fair value Level 1 Level 2 Level 3 Total December 31, 2023 Financial assets Financial assets measured at fair value Non-current portion of fair value of derivative financial instruments 495 — 495 — 495 Current portion of fair value of derivative financial instruments 808 — 808 — 808 1,303 Financial liabilities Financial liabilities not measured at fair value Long-term borrowings 52,620 — 54,107 — 54,107 52,620 Carrying amount Fair value Level 1 Level 2 Level 3 Total December 31, 2022 Financial assets Financial assets measured at fair value Non-current portion of fair value of derivative financial instruments 1,315 — 1,315 — 1,315 Current portion of fair value of derivative financial instruments 1,092 — 1,092 — 1,092 2,407 Financial liabilities Financial liabilities not measured at fair value Long-term borrowings 44,375 — 45,549 — 45,549 44,375
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, 2023
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
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
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. 09, 2021
Vessel Owned	m/v Diamond Globe
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
Calypso Shipholding S.A. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date
Vessel Owned	Hull No: S-1885*
Daxos Maritime Limited [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date
Vessel Owned	Hull No: NE-442*
Olympia Shipholding S.A. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date
Vessel Owned	Hull No: S-K192*
Paralus Shipholding S.A. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date
Vessel Owned	Hull No: NE-443*
Thalia Shipholding S.A. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date
Vessel Owned	Hull No: S-3012*
Longevity Maritime Limited [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Malta
Vessel Delivery Date	Sep. 15, 2011
Vessel Owned	**
Domina Shipholding Ltd [Member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date	May 19, 2010
Vessel Owned	***
Dulac Maritime S.A. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Marshall Islands
Vessel Delivery Date	May 25, 2010
Vessel Owned	****

Basis of presentation and gen_4

Basis of presentation and general information (Details Narrative)	12 Months Ended
	Dec. 31, 2023
Disclosure of subsidiaries [abstract]
Name of reporting entity or other means of identification	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 Acco_3

Basis of Preparation and Accounting Policies (Details Narrative)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
IfrsStatementLineItems [Line Items]
Comprehensive income	$ 5,272,000	$ 24,280,000	$ 14,950,000
Cash and cash equivalents	74,202,000	52,833,000	45,213,000	$ 19,037,000
Working capital surplus	$ 69,795,000
Entity Accounting Standard	International Financial Reporting Standards
Reversal of impairment	$ 4,400,000	0	0
Allowance For Doubtful Trade Receivables		0
Proceeds from borrowings, classified as financing activities	$ 25,000,000	18,000,000	34,250,000
Number Of Operating Segments	1
Direct operating expense from investment property	$ 16,473,000
Lease components	14,367,000
First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) [member]
IfrsStatementLineItems [Line Items]
Borrowing costs capitalised	406,000	259,000	545,000
Proceeds from borrowings, classified as financing activities	$ 25,000,000	18,000,000
Deferred Dry-docking costs [member]
IfrsStatementLineItems [Line Items]
Interval Between Vessel Drydocking Special Survey	2 years 6 months
Depreciation method	straight-line basis
Vessels [member]
IfrsStatementLineItems [Line Items]
Depreciation method	straight-line
Useful life	25 years
Vessels scrap rate per ton	$ 480	440	380
Decrease in depreciation expense due to changes in scrap rate	$ 62,000	$ 118,000	$ 145,000

Cash and cash equivalents and_3

Cash and cash equivalents and Restricted cash (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash and cash equivalents [abstract]
Cash on hand	$ 11	$ 36
Cash at banks	74,191	52,797
Total	$ 74,202	$ 52,833	$ 45,213	$ 19,037

Cash and cash equivalents and_4

Cash and cash equivalents and Restricted cash (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Cash and cash equivalents [abstract]
Cash and cash equivalents at fair value	$ 74,202	$ 52,833
Amount pledged as collaterals	3,620	5,968
Restricted cash at fair value	3,620	5,968
Non current restricted cash	3,530	3,590
Current restricted cash	$ 90	$ 2,378

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, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Share-based payments	$ 0	$ 0	$ 40
Non-Executive Directors [member]
IfrsStatementLineItems [Line Items]
Directors’ remuneration	240	240	145
Share-based payments	0	0	40
Total	$ 240	$ 240	$ 185

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, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Short-term employee benefits	$ 432	$ 1,172	$ 1,216
Total	$ 432	$ 1,172	$ 1,216

Transactions with Related Par_5

Transactions with Related Parties (Details Narrative)

2 Months Ended

6 Months Ended

7 Months Ended

8 Months Ended

9 Months Ended

11 Months Ended

12 Months Ended

Feb. 14, 2022 USD ($)

Mar. 02, 2021 USD ($) $ / shares shares

Feb. 28, 2021 USD ($)

Jun. 30, 2022 EUR (€)

Jul. 15, 2021 USD ($)

Jun. 22, 2020 shares

Aug. 05, 2021 EUR (€)

Aug. 18, 2016 EUR (€)

Sep. 30, 2021 USD ($)

Dec. 03, 2020 EUR (€)

Dec. 31, 2023 USD ($) $ / shares shares

Dec. 31, 2022 USD ($) $ / shares shares

Dec. 31, 2021 USD ($) $ / shares

Dec. 31, 2016 USD ($)

Dec. 31, 2016 EUR (€)

Dec. 03, 2020 USD ($)

Disclosure of transactions between related parties [line items]

Credit adjustment of finance cost

$ 0

$ 40,000

$ 0

Depreciation, right-of-use assets

311,000

327,000

206,000

Interest expense on lease liabilities

28,000

54,000

52,000

Payment of lease liability - principal and Interest Paid

339,000

341,000

314,000

Consulting Fees Expense

$ 275,000

$ 271,000

$ 329,000

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 common 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 common shares are entitled to twenty votes per share.

Series B Preferred Shares [member]

Disclosure of transactions between related parties [line items]

Par value per share | $ / shares

$ 0.001

$ 0.001

$ 0.001

Goldenmare Limited [member]

Disclosure of transactions between related parties [line items]

Consulting Fees Expense

€ 200,000

€ 400,000

$ 432,000

$ 1,172,000

$ 1,216,000

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] | Series B Preferred Shares [member]

Disclosure of transactions between related parties [line items]

Increase (decrease) in number of shares outstanding | shares

10,000

Par value per share | $ / shares

$ 0.001

Issue of preferred shares

$ 130,000

Number of shares in entity held by entity or by its subsidiaries or associates | shares

10,300

10,300

Voting Rights

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.

Chairman of the Board of Directors [member]

Disclosure of transactions between related parties [line items]

Proportion Of Ownership Interests Held By Controlling Party

24.90%

3.70%

3.70%

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]

Annual Service Fee

$ 80,000

Accrued Directors Compensation

$ 60,000

$ 60,000

Executive Director [member]

Disclosure of transactions between related parties [line items]

Accrued Directors Compensation

$ 77,000

2,088,000

Cyberonica S.A. [member]

Disclosure of transactions between related parties [line items]

Monthly Rental Expense

€ 26,000

$ 11,900

€ 10,360,000

Lease expiration date

Aug. 04, 2024

Credit adjustment of finance cost

$ 40,000

Leases as lessee, related party transactions

$ 242,000

F.G. Europe [member]

Disclosure of transactions between related parties [line items]

Monthly Rental Expense | €

€ 26,000

Lease expiration date

Aug. 04, 2024

Leases as lessee, related party transactions

$ 349,000

Rent charged 2022 | Cyberonica and F.G. Europe [member]

Disclosure of transactions between related parties [line items]

Leases as lessee, related party transactions

$ 341,000

Vessels, net - Consolidated Sta

Vessels, net - Consolidated Statement of Financial Position (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [line items]
Balance beginning of period	$ 129,461
Reversal of Impairment	4,400	$ 0	$ 0
Balance ending of period	100,557	129,461
Carrying Amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance beginning of period	129,461	130,724	62,350
Additions/ (Dry Docking Component)	6,485	8,616	74,790
Depreciation expense	(8,557)	(9,879)	(6,416)
Reversal of Impairment	4,400
Sale of vessel	(31,232)
Balance ending of period	100,557	129,461	130,724
Vessels [member] | Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance beginning of period	234,916	233,738	162,992
Additions/ (Dry Docking Component)	161	1,178	70,746
Reversal of Impairment	4,400
Sale of vessel	(58,219)
Balance ending of period	181,258	234,916	233,738
Vessels [member] | Accumulated depreciation, amortisation and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance beginning of period	(113,009)	(107,776)	(104,111)
Depreciation expense	(4,372)	(5,233)	(3,665)
Sale of vessel	31,149
Balance ending of period	(86,232)	(113,009)	(107,776)
Dry docking [member] | Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance beginning of period	23,365	15,927	11,883
Additions/ (Dry Docking Component)	6,324	7,438	4,044
Sale of vessel	(13,444)
Balance ending of period	16,245	23,365	15,927
Dry docking [member] | Accumulated depreciation, amortisation and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance beginning of period	(15,811)	(11,165)	(8,414)
Depreciation expense	(4,185)	(4,646)	(2,751)
Sale of vessel	9,282
Balance ending of period	$ (10,714)	$ (15,811)	$ (11,165)

Vessels, net - Consolidated S_2

Vessels, net - Consolidated Statement of Comprehensive Income/ (loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [abstract]
Vessels’ depreciation	$ 4,372	$ 5,233	$ 3,665
Depreciation on office furniture and equipment	42	40	39
Depreciation of right of use asset (Note 16)	311	327	206
Total	$ 4,725	$ 5,600	$ 3,910

Vessels, net (Details Narrative

Vessels, net (Details Narrative)

2 Months Ended

3 Months Ended

5 Months Ended

7 Months Ended

8 Months Ended

9 Months Ended

12 Months Ended

Mar. 06, 2023 USD ($)

Feb. 18, 2021 USD ($)

Mar. 19, 2021 USD ($)

Jun. 05, 2023 USD ($)

Aug. 11, 2023 USD ($)

Sep. 13, 2023

Aug. 31, 2023 USD ($)

Aug. 18, 2023 USD ($)

Aug. 16, 2023 USD ($)

Sep. 22, 2021 USD ($)

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Disclosure of detailed information about property, plant and equipment [line items]

Purchase price

$ 0

$ 0

$ 71,600,000

Proceeds from sales of property, plant and equipment, classified as investing activities

35,097,000

0

0

Reversal of impairment loss recognised in profit or loss, property, plant and equipment

4,400,000

0

0

Cash advances and loans made to other parties, classified as investing activities

19,074,000

28,172,000

$ 0

Power Globe [member]

Disclosure of detailed information about property, plant and equipment [line items]

Vessel year built

2011

Vessel type

Kamsarmax

Purchase price

$ 16,200,000

Vessel Capacity

80,655

Vessel Delivery Date

Jul. 20, 2021

Diamond Globe [member]

Disclosure of detailed information about property, plant and equipment [line items]

Vessel year built

2018

Vessel type

Kamsarmax

Purchase price

$ 27,000,000

Vessel Capacity

82,027

Vessel Delivery Date

Jun. 09, 2021

Vessel cost

$ 26,400,000

Dry-docking cost capitalised

$ 600,000

Orion Globe [member]

Disclosure of detailed information about property, plant and equipment [line items]

Vessel year built

2015

Vessel type

Kamsarmax

Purchase price

$ 28,400,000

Vessel Capacity

81,837

Vessel Delivery Date

Nov. 29, 2021

Vessel cost

$ 27,900,000

Dry-docking cost capitalised

$ 500,000

Sun Globe [Member]

Disclosure of detailed information about property, plant and equipment [line items]

Vessel year built

2007

Proceeds from sales of property, plant and equipment, classified as investing activities

$ 14,100,000

Reversal of impairment loss recognised in profit or loss, property, plant and equipment

$ 4,400,000

Gains on disposals of non-current assets

$ 71,000

Sky Globe [Member]

Disclosure of detailed information about property, plant and equipment [line items]

Vessel year built

2009

Vessel Delivery Date

Sep. 07, 2023

Proceeds from sales of property, plant and equipment, classified as investing activities

$ 10,700,000

Gains on disposals of non-current assets

$ 2,200,000

Star Globe [Member]

Disclosure of detailed information about property, plant and equipment [line items]

Vessel year built

2010

Vessel Delivery Date

Sep. 13, 2023

Proceeds from sales of property, plant and equipment, classified as investing activities

$ 11,200,000

Gains on disposals of non-current assets

$ 1,600,000

Two newbuild bulk carriers [member]

Disclosure of detailed information about property, plant and equipment [line items]

Vessel type

bulk carrier

Vessel Capacity

64,000

Vessel cost

$ 75,500,000

Vessel Delivery Date

second half of 2026

Cash advances and loans made to other parties, classified as investing activities

$ 7,500,000

Five Vessels [Member]

Disclosure of detailed information about property, plant and equipment [line items]

Vessel cost

$ 1,100,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Classes of current inventories [abstract]
Lubricants	$ 533	$ 1,062
Gas cylinders	59	133
Bunkers	664	1,833
Total	$ 1,256	$ 3,028

Trade accounts payable (Details

Trade accounts payable (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Trade and other payables [abstract]
Trade and other current payables	$ 362	$ 3,548

Accrued liabilities and other_3

Accrued liabilities and other payables (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Miscellaneous current liabilities [abstract]
Accrued audit fees	$ 122	$ 77
Other accruals	1,393	5,552
Insurance deductibles	131	104
Other payables	117	81
Total	$ 1,763	$ 5,814

Share Capital and Share Premi_3

Share Capital and Share Premium - Authorized share capital (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Par value per share			$ 0.004
Value Of Shares Authorised	$ 2,200	$ 2,200	$ 2,200
Common Shares [member]
IfrsStatementLineItems [Line Items]
Number of shares authorised	500,000,000	500,000,000	500,000,000
Par value per share	$ 0.004	$ 0.004	$ 0.004
Value Of Shares Authorised	$ 2,000	$ 2,000	$ 2,000
Class B Common Shares [member]
IfrsStatementLineItems [Line Items]
Number of shares authorised	100,000,000	100,000,000	100,000,000
Par value per share	$ 0.001	$ 0.001	$ 0.001
Value Of Shares Authorised	$ 100	$ 100	$ 100
Series B Preferred Shares [member]
IfrsStatementLineItems [Line Items]
Number of shares authorised	100,000,000	100,000,000	100,000,000
Par value per share	$ 0.001	$ 0.001	$ 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, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of classes of share capital [line items]
Balance beginning of period	$ 82
Balance ending of period	$ 82	$ 82
Ordinary shares [member]
Disclosure of classes of share capital [line items]
Balance beginning of period	20,582,301	20,582,301	3,040,123
Issued during the year for share-based compensation			12,178
Issuance of new common stocks			14,905,000
Issuance of common stock due to exercise of pre-funded warrants			2,625,000
Balance ending of period	20,582,301	20,582,301	20,582,301
Issued capital [member]
Disclosure of classes of share capital [line items]
Balance beginning of period	$ 82	$ 82	$ 12
Issuance of new common stocks			60
Issuance of common stock due to exercise of pre-funded warrants			10
Balance ending of period	$ 82	$ 82	$ 82

Share Capital and Share Premi_5

Share Capital and Share Premium (Details Narrative) $ / shares in Units, $ in Thousands	1 Months Ended	2 Months Ended		4 Months Ended	6 Months Ended	11 Months Ended	12 Months Ended
	Jan. 29, 2021 $ / shares shares	Mar. 02, 2021 USD ($) $ / shares shares	Feb. 17, 2021 USD ($) $ / shares shares	Jun. 29, 2021 USD ($) $ / shares shares	Jun. 22, 2020 USD ($) $ / shares shares	Dec. 09, 2020 $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 $ / shares shares	Dec. 10, 2020 $ / shares shares	Jun. 30, 2020 $ / shares
Disclosure of classes of share capital [line items]
Voting Rights								Holders of the Company’s common shares and Class B common 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 common shares are entitled to twenty votes per share.
Increase (decrease) in number of shares outstanding					342,857
Par value per share | $ / shares									$ 0.004
Exercise price of outstanding share options | $ / shares					$ 35
Proceeds From Warrant Exercises | $							$ 0	$ 0	$ 25
Proceeds from issuing shares | $							0	0	89,580
Share issue related cost | $									401
Share premium | $							$ 284,406	$ 284,406	$ 284,406
Maxim Group LLC [member]
Disclosure of classes of share capital [line items]
Increase (decrease) in number of shares outstanding					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
Maxim Group LLC [member] | 45-day option [member]
Disclosure of classes of share capital [line items]
Increase (decrease) in number of shares outstanding					51,429
Par value per share | $ / shares					$ 0.004
Number Of Shares Called By Warrants					51,429
Institutional investors [member]
Disclosure of classes of share capital [line items]
Increase (decrease) in number of shares outstanding	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 | $			$ 27,891	$ 46,581
Share issue related cost | $			$ 152	$ 129
Common Shares [member]
Disclosure of classes of share capital [line items]
Increase (decrease) in number of shares outstanding									12,178
Par value per share | $ / shares							$ 0.004	$ 0.004	$ 0.004
Series B Preferred Shares [member]
Disclosure of classes of share capital [line items]
Par value per share | $ / shares							$ 0.001	0.001	0.001
Series B Preferred Shares [member] | Goldenmare Limited [member]
Disclosure of classes of share capital [line items]
Voting Rights							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.
Increase (decrease) in number of shares outstanding		10,000
Par value per share | $ / shares		$ 0.001
Issue of preferred shares | $		$ 130
Class B Common Shares [member]
Disclosure of classes of share capital [line items]
Par value per share | $ / shares							$ 0.001	$ 0.001	$ 0.001
Number of shares outstanding								0
Class B Preferred Shares [member] | Goldenmare Limited [member]
Disclosure of classes of share capital [line items]
Increase (decrease) in number of shares outstanding		10,000
Par value per share | $ / shares		$ 0.001
Issue of preferred shares | $		$ 130
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							388,700	388,700
Increase Decrease In Number Of Ordinary Shares Issued Through Exercise Of Warrants Equity							5,550	5,550
Proceeds From Warrant Exercises | $							$ 194	$ 194
Number Of Warrants Outstanding							388,700	388,700
PP Warrants [member]
Disclosure of classes of share capital [line items]
Increase (decrease) in number of shares outstanding										1,291,833
Number Of Shares Called By Warrants							1,291,833	1,291,833
Increase Decrease In Number Of Ordinary Shares Issued Through Exercise Of Warrants Equity										1,291,833
Number Of Warrants Outstanding							1,291,833	1,291,833
Purchase price of outstanding warrants | $ / shares										$ 18		$ 30
December Warrants [member]
Disclosure of classes of share capital [line items]
Number Of Shares Called By Warrants							1,270,587	1,270,587
December Warrants [member] | Institutional investors [member]
Disclosure of classes of share capital [line items]
Exercise price of outstanding share options | $ / shares	6.25										$ 8.50
Number Of Shares Called By Warrants											1,270,587
January 2021 Warrants [member]
Disclosure of classes of share capital [line items]
Number Of Warrants Outstanding							1,950,000	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	1,950,000
February 2021 Warrants [member]
Disclosure of classes of share capital [line items]
Number Of Warrants Outstanding							4,800,000	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			4,800,000
June 2021 Warrants [member]
Disclosure of classes of share capital [line items]
Number Of Warrants Outstanding							10,000,000	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				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, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings per share [abstract]
Income attributable to common equity holders	$ 5,272	$ 24,280	$ 14,950
Weighted average number of shares – basic and diluted	20,582,301	20,582,301	14,809,536
Diluted earnings (loss) per share	$ 0.26	$ 1.18	$ 1.01
Basic earnings (loss) per share	$ 0.26	$ 1.18	$ 1.01

Long-Term Debt, net - Consolida

Long-Term Debt, net - Consolidated statement of financial position (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about borrowings [line items]
Accrued Interest	$ 621
Amortized Cost - Current Portion	(6,500)	$ (6,803)
Amortized Cost - Long-Term Portion	45,759	37,522
Principal [Member]
Disclosure of detailed information about borrowings [line items]
Principal	52,620	44,375
Principal - Current Portion	(6,258)	(6,500)
Principal - Long-Term Portion	46,362	37,875
Deferred Finance Costs [Member]
Disclosure of detailed information about borrowings [line items]
Deferred Finance Costs	(624)	(541)
Deferred Finance Costs - Current Portion	227	188
Deferred finance costs - Long-Term Portion	(397)	(353)
Modification Of Loan [Member]
Disclosure of detailed information about borrowings [line items]
Modification of loan	(358)
Modification of Loan - Current Portion	152	0
Modification of Loan - Loan-Term Portion	(206)	0
Amortized Cost [Member]
Disclosure of detailed information about borrowings [line items]
Amortized Cost	52,259	44,325
Amortized Cost - Current Portion	(6,500)	(6,803)
Amortized Cost - Long-Term Portion	45,759	37,522
Accrued Interest [Member]
Disclosure of detailed information about borrowings [line items]
Accrued Interest		491
Accrued Interest - Current Portion	(621)	(491)
Accrued Interest - Long-Term Portion	0	0
Devocean Maritime LTD., Artful Shipholding S.A., Serena Maritime Limited, Salaminia Maritime Limited, Talisman Maritime Limited and Argo Maritime Limited.
Disclosure of detailed information about borrowings [line items]
Principal	52,620
Deferred Finance Costs	(624)
Modification of loan	(358)	$ 0
Accrued Interest	621
Amortized Cost	$ 52,259

Long-Term Debt, net - Annual lo

Long-Term Debt, net - Annual loan principal payments (Details) - First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) [member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about borrowings [line items]
Loan balance	$ 52,620	$ 44,375
Later than one year and not later than two years [member]
Disclosure of detailed information about borrowings [line items]
Loan balance	6,258	6,500
Later than two years and not later than three years [member]
Disclosure of detailed information about borrowings [line items]
Loan balance	6,258	6,500
Later than three years and not later than four years [member]
Disclosure of detailed information about borrowings [line items]
Loan balance	21,604	6,500
Later than four years and not later than five years [member]
Disclosure of detailed information about borrowings [line items]
Loan balance	$ 18,500	$ 24,875

Long-Term Debt, net (Details Na

Long-Term Debt, net (Details Narrative) - USD ($)	4 Months Ended		7 Months Ended		8 Months Ended			12 Months Ended
	May 10, 2023	May 10, 2021	Aug. 10, 2023	Aug. 10, 2022	Sep. 07, 2023	Aug. 31, 2023	Aug. 29, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about borrowings [line items]
Proceeds from borrowings, classified as financing activities								$ 25,000,000	$ 18,000,000	$ 34,250,000
Gains (losses) on change in fair value of derivatives								388,000	2,520,000	181,000
Prepayments of borrowing								$ 10,505,000	$ 0	35,507,000
Weighted average [member]
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate								8.19%	5.58%
Sun Globe [Member]
Disclosure of detailed information about borrowings [line items]
Prepayments of borrowing	$ 3,674,000
Vessel Delivery Date								Jun. 05, 2023
Sky Globe [Member]
Disclosure of detailed information about borrowings [line items]
Prepayments of borrowing							$ 3,276,000
Vessel Delivery Date								Sep. 07, 2023
Star Globe [Member]
Disclosure of detailed information about borrowings [line items]
Prepayments of borrowing					$ 3,555,000
Vessel Delivery Date								Sep. 13, 2023
CIT Loan Facility [member]
Disclosure of detailed information about borrowings [line items]
Line of Credit Facility, Initiation Date								May 2021
Line Of Credit Facility Borrowing Capacity										$ 34,250,000
Description of borrowings								for the purpose of refinancing the existing indebtedness secured on the ships
Borrowings, interest rate basis								LIBOR
Borrowings, interest rate								3.75%
Borrowings Default Interest Rate								5.75%
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
Borrowings, maturity								May 2026
Proceeds from borrowings, classified as financing activities		$ 34,250,000
Borrowing costs incurred		$ 545,000
Description of collateral held as security and other credit enhancements								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 $1,200 is set aside by each borrower for its ship’s special survey, except for Serena Maritime Limited and Salaminia Maritime Limited, each of which are required to set aside quarterly payments that aggregate to $900,Argo Maritime Limited, which is required to set aside quarterly payments that aggregate to $675, and Talisman Limited, which is required to set aside quarterly payments that aggregate to $315.
CIT Loan Facility [member] | August 2022 Agreement [Member]
Disclosure of detailed information about borrowings [line items]
Line of Credit Facility, Initiation Date								August 2022
Description of borrowings								for the purpose of financing vessel Orion Globe and for general corporate and working capital purposes
Borrowings, interest rate basis								SOFR
Borrowings, interest rate								3.35%
Borrowings Default Interest Rate								5.25%
Proceeds from borrowings, classified as financing activities				$ 18,000,000
Borrowing costs incurred				$ 259,000
Line Of Credit Facility Maximum Borrowing Capacity									$ 52,250,000
Gains (losses) on change in fair value of derivatives									$ 163,000
CIT Loan Facility [member] | August 2023 Agreement [Member]
Disclosure of detailed information about borrowings [line items]
Description of borrowings						for the purpose of financing vessels Diamond Globe and Power Globe and for general corporate and working capital purposes
Borrowings, interest rate basis						SOFR
Borrowings, interest rate						2.70%
Borrowings Default Interest Rate						4.70%
Proceeds from borrowings, classified as financing activities			$ 25,000,000
Line Of Credit Facility Maximum Borrowing Capacity						$ 77,250,000
Gains (losses) on change in fair value of derivatives								$ 417,000
Borrowings, adjustment to interest rate basis						0.10%
CIT Loan Facility [member] | First four tranches [member]
Disclosure of detailed information about borrowings [line items]
Borrowings, maturity								May 2026
CIT Loan Facility [member] | Final two tranches [member]
Disclosure of detailed information about borrowings [line items]
Borrowings, maturity								August 2027
CIT Loan Facility [member] | SWAP Agreement [member]
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis								LIBOR
Percentage of upfront fee in loan agreement								1.25%
CIT Loan Facility [member] | SWAP Agreement [member] | Prepayment occurs on or before August 10, 2024 [Member]
Disclosure of detailed information about borrowings [line items]
Percentage of upfront fee in loan agreement								1%
CIT Loan Facility [member] | SWAP Agreement [member] | Prepayment of the tranche financing either Diamond Globe or Power Globe occurs on or before August 2024 [Member]
Disclosure of detailed information about borrowings [line items]
Percentage of upfront fee in loan agreement								2%
CIT Loan Facility [member] | SWAP Agreement [member] | Prepayment occurs therafter until August 2025 [member]
Disclosure of detailed information about borrowings [line items]
Percentage of upfront fee in loan agreement								1%

Voyage Expenses and Vessel Op_3

Voyage Expenses and Vessel Operating Expenses - Voyage expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Expenses by nature [abstract]
Commissions	$ 397	$ 924	$ 626
Bunkers expenses	3,083	3,876	0
Other voyage expenses	456	573	502
Total	$ 3,936	$ 5,373	$ 1,128

Voyage Expenses and Vessel Op_4

Voyage Expenses and Vessel Operating Expenses - Vessel operating expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Expenses by nature [abstract]
Crew wages and related costs	$ 8,259	$ 8,952	$ 7,570
Insurance	1,176	1,349	1,067
Spares, repairs and maintenance	2,981	3,935	2,414
Lubricants	912	924	555
Stores	2,325	2,340	1,712
Other	437	512	490
Total	$ 16,090	$ 18,012	$ 13,808

Administrative Expenses (Detail

Administrative Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Selling, general and administrative expense [abstract]
Personnel expenses	$ 1,971	$ 1,454	$ 1,455
Audit fees	227	204	215
Consulting fees	275	271	329
Communication	21	16	16
Stationery	3	3	6
Greek tax authorities (note 17)	236	292	185
Other	808	636	404
Total	$ 3,541	$ 2,876	$ 2,610

Interest Expense and Finance _3

Interest Expense and Finance Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest costs [abstract]
Interest payable on long-term borrowings	$ 3,847	$ 2,047	$ 1,958
Bank charges	67	60	59
Amortization of debt discount	323	165	547
Operating lease liability interest	28	54	52
Other finance expenses	30	34	646
Gain from termination of lease liability	0	(40)	0
Amortization of gain of Loan modification	59	0	0
Total	$ 4,354	$ 2,320	$ 3,262

Interest Expense and Finance _4

Interest Expense and Finance Costs (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Other finance cost	$ 30,000	$ 34,000	$ 646,000
EnTrust loan facility [member]
IfrsStatementLineItems [Line Items]
Other finance cost			$ 600,000

Commitments - Future minimum le

Commitments - Future minimum lease revenues receivable under non-cancellable operating leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of maturity analysis of operating lease payments [line items]
Total	$ 8,060	$ 6,675
Not later than one year [member]
Disclosure of maturity analysis of operating lease payments [line items]
Total	$ 8,060	$ 6,675

Commitments - Future minimum co

Commitments - Future minimum contractual obligations (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Calypso Shipholding S.A. [member]
IfrsStatementLineItems [Line Items]
2024	$ 18,500
2025	0
2026	0
Total	18,500
Daxos Maritime Limited and Paralus Shipholding S.A. [member]
IfrsStatementLineItems [Line Items]
2024	24,785
2025	0
2026	0
Total	24,785
Paralus Shipholding S.A. [member]
IfrsStatementLineItems [Line Items]
2024	24,785
2025	0
2026	0
Total	24,785
Olympia Shipholding S.A. [member]
IfrsStatementLineItems [Line Items]
2024	3,760
2025	3,760
2026	26,530
Total	34,050
Thalia Shipholding S.A. [member]
IfrsStatementLineItems [Line Items]
2024	3,760
2025	3,760
2026	26,530
Total	34,050
Total [member]
IfrsStatementLineItems [Line Items]
2024	75,590
2025	7,520
2026	53,060
Total	$ 136,170

Commitments (Details Narrative)

Commitments (Details Narrative)	1 Months Ended	3 Months Ended	4 Months Ended		5 Months Ended	6 Months Ended	8 Months Ended		9 Months Ended	11 Months Ended	12 Months Ended
	Jan. 25, 2024 USD ($)	Mar. 31, 2023 USD ($)	May 13, 2022 USD ($)	Apr. 29, 2022 USD ($)	May 31, 2022 USD ($)	Nov. 30, 2022 USD ($)	Aug. 31, 2023 USD ($)	Aug. 18, 2023 USD ($)	Sep. 30, 2023 USD ($)	Nov. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Disclosure of detailed information about property, plant and equipment [line items]
Revenue from rendering of services											$ 30,840,000	$ 61,390,000	$ 43,211,000
Operating lease income											14,367,000
Depreciation, right-of-use assets											311,000	327,000	206,000
Interest expense on lease liabilities											28,000	54,000	52,000
Current lease liabilities											188,000	321,000
Non-current lease liabilities											0	188,000
Right-of-use assets											182,000	493,000
Payment of lease liability - principal and Interest Paid											339,000	341,000	314,000
Instalment amount											19,074,000	28,172,000	0
Calypso Shipholding S.A. [member]
Disclosure of detailed information about property, plant and equipment [line items]
Vessel type				bulk carrier
Vessel Capacity				64,000
Consideration amount				$ 37,500,000
Instalment amount	$ 18,500,000	$ 3,800,000			$ 7,400,000				$ 3,700,000	$ 3,700,000
Daxos Maritime Limited [member]
Disclosure of detailed information about property, plant and equipment [line items]
Vessel type			bulk carrier
Vessel Capacity			64,000
Vessel Delivery Date			during the third quarter of 2024
Paralus Shipholding S.A. [member]
Disclosure of detailed information about property, plant and equipment [line items]
Vessel type			bulk carrier
Vessel Capacity			64,000
Vessel Delivery Date			during the fourth quarter of 2024
Daxos Maritime Limited and Paralus Shipholding S.A. [member]
Disclosure of detailed information about property, plant and equipment [line items]
Consideration amount			$ 70,300,000
Instalment amount					$ 13,800,000	$ 6,900,000
Two fuel efficient bulk carrier vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Vessel type								bulk carrier
Vessel Capacity								64,000
Consideration amount							$ 75,500,000
Instalment amount								$ 7,500,000
Vessel Delivery Date								during the second half of 2026
Office Lease Contract [member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation, right-of-use assets											311,000	327,000	206,000
Interest expense on lease liabilities											28,000	54,000	52,000
Current lease liabilities											188,000	321,000
Non-current lease liabilities											0	188,000
Right-of-use assets											182,000	493,000
Payment of lease liability - principal and Interest Paid											349,000	341,000	$ 314,000
Property, plant and equipment subject to operating leases [member]
Disclosure of detailed information about property, plant and equipment [line items]
Revenue from rendering of services											16,473,000	18,451,000
Operating lease income											$ 14,367,000	$ 42,939,000

Income Tax (Details Narrative)

Income Tax (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Major components of tax expense (income) [abstract]
Tax expense other than income tax expense	$ 236	$ 292	$ 185

Financial risk management obj_3

Financial risk management objectives and policies - Interest rate risk (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Disclosure of detailed information about financial instruments [abstract]
Increase in Libor	15	15	15
Effect on loss (Increase in Libor)	$ (70)	$ (55)	$ (52)
Decrease in Libor/SOFR	(20)	(20)	(20)
Effect on loss (Decrease in Libor)	$ 94	$ 73	$ 69

Financial risk management obj_4

Financial risk management objectives and policies - Foreign currency risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of risk management strategy related to hedge accounting [line items]
Effect on loss (Increase in Euro exchange rate)	$ (70)	$ (55)	$ (52)
Effect on loss (Decrease in Euro exchange rate)	$ 94	$ 73	$ 69
Currency risk [member]
Disclosure of risk management strategy related to hedge accounting [line items]
Increase in Euro exchange rate	10%	10%	10%
Effect on loss (Increase in Euro exchange rate)	$ (533)	$ (573)	$ (478)
Decrease in Euro exchange rate	(10.00%)	(10.00%)	(10.00%)
Effect on loss (Decrease in Euro exchange rate)	$ 533	$ 573	$ 478

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of credit risk exposure [line items]
Revenue	$ 30,840	$ 61,390	$ 43,211
Percentage of entity's revenue	100%	100%	100%
A [Member]
Disclosure of credit risk exposure [line items]
Revenue	$ 6,430	$ 6,606	$ 0
Percentage of entity's revenue	21%	11%	0%
B [Member]
Disclosure of credit risk exposure [line items]
Revenue	$ 4,830	$ 0	$ 4,571
Percentage of entity's revenue	16%	0%	11%
C [Member]
Disclosure of credit risk exposure [line items]
Revenue	$ 0	$ 0	$ 7,726
Percentage of entity's revenue	0%	0%	18%
D [Member]
Disclosure of credit risk exposure [line items]
Revenue	$ 0	$ 6,548	$ 0
Percentage of entity's revenue	0%	11%	0%
Other [Member]
Disclosure of credit risk exposure [line items]
Revenue	$ 19,580	$ 48,236	$ 30,914
Percentage of entity's revenue	63%	78%	71%

Financial risk management obj_6

Financial risk management objectives and policies - Liquidity risk (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial liabilities [line items]
Long-term debt	$ 64,027	$ 53,577
Lease liabilities	188	509
Accrued liabilities and other payables	1,763	5,814
Trade accounts payables	362	3,548
Total financial liabilities	66,340	63,448
Less than 3 months [member]
Disclosure of financial liabilities [line items]
Long-term debt	2,663	2,495
Lease liabilities	81	80
Accrued liabilities and other payables	1,763	5,814
Trade accounts payables	362	3,548
Total financial liabilities	4,869	11,937
3 to 12 months [member]
Disclosure of financial liabilities [line items]
Long-term debt	7,781	7,266
Lease liabilities	107	241
Accrued liabilities and other payables	0	0
Trade accounts payables	0	0
Total financial liabilities	7,888	7,507
1 to 5 years [member]
Disclosure of financial liabilities [line items]
Long-term debt	53,583	43,816
Lease liabilities	0	188
Accrued liabilities and other payables	0	0
Trade accounts payables	0	0
Total financial liabilities	53,583	44,004
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
Total financial liabilities	$ 0	$ 0

Fair values measurement (Detail

Fair values measurement (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of fair value measurement of assets [line items]
Non-current portion of fair value of derivative financial instruments	$ 495	$ 1,315
Current portion of fair value of derivative financial instruments	808	1,092
Financial liabilities	66,340	63,448
At fair value [member] | Financial liabilities not measured at fair value [member]
Disclosure of fair value measurement of assets [line items]
Long-term borrowings	54,107	45,549
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	54,107	45,549
Financial liabilities not measured at fair value [member]
Disclosure of fair value measurement of assets [line items]
Long-term borrowings	52,620	44,375
Financial liabilities	52,620	44,375
Financial assets measured at fair value [member]
Disclosure of fair value measurement of assets [line items]
Non-current portion of fair value of derivative financial instruments	495	1,315
Current portion of fair value of derivative financial instruments	808	1,092
Financial assets, at fair value	1,303	2,407
Financial assets measured at fair value [member] | At fair value [member]
Disclosure of fair value measurement of assets [line items]
Non-current portion of fair value of derivative financial instruments	495	1,315
Current portion of fair value of derivative financial instruments	808	1,092
Financial assets measured at fair value [member] | At fair value [member] | Level 1 [member]
Disclosure of fair value measurement of assets [line items]
Non-current portion of fair value of derivative financial instruments	0	0
Current portion of fair value of derivative financial instruments	0	0
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 portion of fair value of derivative financial instruments	495	1,315
Current portion of fair value of derivative financial instruments	808	1,092
Financial assets measured at fair value [member] | At fair value [member] | Level 3 [member]
Disclosure of fair value measurement of assets [line items]
Non-current portion of fair value of derivative financial instruments	0	0
Current portion of fair value of derivative financial instruments	0	0
Financial liabilities not measured at fair value [member] | At fair value [member] | Level 1 [member]
Disclosure of fair value measurement of assets [line items]
Long-term borrowings	0	0
Financial liabilities not measured at fair value [member] | At fair value [member] | Level 3 [member]
Disclosure of fair value measurement of assets [line items]
Long-term borrowings	$ 0	$ 0

Events after the reporting da_2

Events after the reporting date (Details Narrative)	1 Months Ended	2 Months Ended		12 Months Ended
	Jan. 22, 2024 USD ($)	Mar. 13, 2024 USD ($) shares	Feb. 23, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Disclosure of non-adjusting events after reporting period [line items]
Remaining amount paid				$ 0	$ 0	$ 71,600,000
Globus Maritime Limited 2024 Equity Incentive Plan [member]
Disclosure of non-adjusting events after reporting period [line items]
Shares issued | shares		2,000,000
m/v GLBS Hero [Member]
Disclosure of non-adjusting events after reporting period [line items]
Remaining amount paid	$ 18,500,000
Vessel Delivery Date	January 25, 2024
Vessel Capacity	64,000
GLBS MIGHT [member]
Disclosure of non-adjusting events after reporting period [line items]
Vessel Delivery Date			during the third quarter of 2024
Vessel Capacity			64,000
Line Of Credit Facility Borrowing Capacity			$ 28,000,000
GLBS MIGHT [member] | Consultant affiliated with Chief Executive Officer [member]
Disclosure of non-adjusting events after reporting period [line items]
One time bonus		$ 3,000,000