Greek owner Globus Maritime is paying a bonus of $3m to a consultant linked to chief executive Athanasios Feidakis.
The Nasdaq-listed company said in a filing that the deal was agreed in March and linked to two 64,000-dwt ultramax newbuildings ordered by Globus in China.
Globus said the one-off bonus was awarded to “a consultant affiliated with our chief executive”.
Half was payable immediately upon the delivery of Hull NE442 from Nantong Cosco KHI Ship Engineering in August, which was ordered 2022.
The rest will be paid when Hull NE443 is handed over from the same yard.
Feidakis must still be the chief executive at the delivery date for the consultant to receive the money.
The second ship is due on 20 September.
The first ultramax is called the GLBS Might. Globus paid $1.5m as a bonus on 26 August.
The duo were ordered for $35.15m each and VesselsValue assesses them as worth $39m now.
Feidakis has been contacted for further information.
Globus has three more ultramaxes due for delivery from Japan — one from Nihon Shipyard this year and two from Imabari Shipbuilding in 2026.
Returned to profit
The Nasdaq-listed company returned to profit in the second quarter with net earnings of $3.3m, turning around a loss of $1.2m in 2023.
Revenue climbed to $9.5m against $7.8m the year before as rates rose.
Globus said it is continuing to evaluate newbuildings of larger size as well as alternative fuel options, while also keeping an eye on the secondhand market, examining possibilities for further expansion of the fleet with fuel-efficient vessels.
