EX-5.1 24 v202967_ex5-1.htm
Exhibit 5.1

| Watson, Farley & Williams (New York) LLP
Our reference: 25810.50000/1912095v5 | 1133 Avenue of the Americas New York, New York 10036
| Tel (212) 922 2200 Fax (212) 922 1512
November 24, 2010 |
Globus Maritime Limited c/o Globus Shipmanagement Corp. 128 Vouliagmenis Avenue, 3rd Floor 166 74 Glyfada Athens, Greece |

Re: Registration Statement on Form F-1 – Exhibit 5.1 Opinion
Dear Sirs:
We have acted as special counsel as to matters of the law of the Republic of the Marshall Islands (“Marshall Islands Law”) for Globus Maritime Limited (the “Company”), a corporation domesticated in and existing under Marshall Islands Law, in connection with the Company’s registration statement on Form F-1 (Registration No. 333-170755) (together with any amendments through the date of its effectiveness, the “Registration Statement”) filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Act”), and the rules and regulations promulgated thereunder, covering the sale of up to 6,117,389 shares of the Company’s common shares, par value $0.004 per share, by the selling shareholders named therein (the “Selling Shareholder Shares”).
In rendering this opinion, we have examined originals or photocopies of all such documents, including:

(i) | the Registration Statement and the prospectus included therein (together with any supplement thereto through the date hereof, the “Prospectus”); and

(i) | such other papers, documents, agreements, certificates of public officials and certificates of representatives of the Company or its affiliates as we have deemed relevant and necessary as the basis for the opinion hereafter expressed.

In such examination, we have assumed: (i) the genuineness of all signatures and the authenticity of all documents submitted to us as originals, (ii) the conformity to original documents of all documents submitted to us as conformed or photostatic copies, (iii) that there have been no undisclosed modifications, either written, verbal or otherwise, of any provision of any document reviewed by us in connection with the rendering of the opinion set forth herein, (iv) the completeness of each document submitted to us and (v) the truthfulness of each statement as to all factual matters otherwise not known to us to be untruthful contained in any document or certificate encompassed within the due diligence review undertaken by us.
Watson, Farley & Williams (New York) LLP is a limited liability partnership registered in England and Wales with registered number OC312253. It is regulated by the Solicitors Regulation Authority and its members are solicitors or registered foreign lawyers. A list of members of Watson, Farley & Williams (New York) LLP and their professional qualifications is open to inspection at the above address. Any reference to a 'partner' means a member of Watson, Farley & Williams (New York) LLP, or a member or partner in an affiliated undertaking, or an employee or consultant with equivalent standing and qualification.
Watson, Farley & Williams (New York) LLP or an affiliated undertaking has an office in each of the cities listed above.

Globus Maritime Limited | Page 2

November 24, 2010
This opinion is limited to Marshall Islands Law. We expressly disclaim any responsibility to advise of any development or circumstance of any kind, including any change of law or fact that may occur after the date of this opinion letter that might affect the opinion expressed herein.
Based on the facts as set forth in the Registration Statement, and having regard to legal considerations which we deem relevant, and subject to the qualifications, limitations and assumptions set forth herein, we are of the opinion that the Selling Shareholder Shares have been validly issued and are fully paid and nonassessable.
We consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement and to the use of our name under the caption “Legal Matters” in the Registration Statement. In giving this consent, we do not hereby admit that we are in the category of persons whose consent is required under Section 7 of the Act, or the rules and regulations promulgated thereunder, nor do we admit that we are experts with respect to any part of the Registration Statement within the meaning of the term “expert” as used in the Act.
Very truly yours,
/s/ Watson, Farley & Williams (New York) LLP